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THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v1
THE GOA STATE CO-OPERATIVE BANK LTD.
(Scheduled Bank)
Know Your Bank Registered Head Office :
Registration No. & Date: BNK(a)-1/Goa
07th November 1963
“SAHAKAR SANKUL"
Patto Plaza, EDC Complex,
Panaji Goa - 403001
Ph:0832-2437641Date of Commencement
of Business2nd February, 1964
Website:www.gscbgoa.com
E-mail: [email protected] Licence No. & Date : PRCD.BOM.51-S.
dated 27th July, 1994
Apex Bank Status :- Govt. of Goa No. & Date: 26/1/98/TS-RCS dated 27th March, 2000
Restoration of Registration under State Statute 16th August, 2017, BNK(a)-1/Goa
BRANCHES in GOA 55
PAN AAAAT3364R
TAN BLRT01310B
Service Tax Registration No.: AAAAT3364RST001
Bank Code: 0007025
DICGC Code: 3030 / 7025
GSTN: 30AAAAT3364R1Z8
Chairman: Shri Ulhas B. Phal Dessai
Election Date: 09th September, 2019
Managing Director (I/C): Shri Anant M. Chodankar
Appointment Date: 01st December, 2017
Statutory Auditors: Nandan Sirsat & Associates,
Chartered Accountants
Regional Office – Daman (5 Branc hes) Regional Office – Diu (4 Branc hes)
Scheduled Bank Status : 15th December, 1994
Govt. of U.T. of Daman & Diu Registration RCS/GB/178/Vol.II/03-04/146
No. & Date dated 06.08.2004
14/54, Dilip Nagar,
Nani Daman – 396210
Phone : 0260-2255984
Fax : 0260-2255984
55(9-10), 1st Floor, Gandhi Bhuvan,
Bunder Chowk, Diu 362520
Phone : 02875-254972
Fax : 02875-252172
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
2v v
Notice is hereby given that the 57th Annual General Meeting of the Members of The Goa State Co-op. BankLtd., will be held on Sunday, the 27th December 2020 at 10.00 a.m. in the Meeting Hall at “Sahakar Sankul”,6th Floor, Head Office, Patto Plaza, Panaji-Goa to transact the following items of business.
A G E N D A
1. To read and confirm the proceedings of the Annual General Meeting held on 09.02.2020.
2. To consider the Annual Report of the Bank presented by the Board of Directors alongwith AuditedStatement of Accounts for the financial year 2019-20.
3. To consider the Statutory Audit Report for the financial year 2019-20 and the Bank’s compliance thereof.
4. To approve the excess amount against Budgetary provisions for the financial year 2019-20 and approveAnnual Budget estimates for the financial year 2020-21 & 2021-22.
5. To consider appointment of Statutory Auditors for the financial year 2020-21.
6. To consider the proposal of Mr. Nityanand K. Naik to accept Rs.33,603/- as full & final settlementagainst his outstanding loan dues of Rs.63,549/-; the loan being secured against pledged of Kissan VikasPatra.
7. Any other subject that may be transacted with the permission of the Chair.
All the Members are requested to attend the same.
THE GOA STATE CO-OP. BANK LTD.(Scheduled Bank)
“Sahakar Sankul”, H.O. Patto Plaza, Panaji, Goa
57th ANNUAL GENERAL MEETING
N O T I C E
N.B. :
1 . The quorum for the General Body Meeting shall be 31 Members of which not less than 25 Members shall be representatives of the
Societies. In case there is no quorum till 10.00 a.m., the Meeting shall stand adjourned and the adjourned Meeting shall be held at 10.30
a.m. on the same day and at the same place or it shall be adjourned to a subsequent date not earlier than seven days and at such adjourned
Meeting the business on the agenda of the original Meeting shall be transacted whether there is quorum or not.
2. The printed copies of Annual Report alongwith the Notice is sent to the Member Cooperative Societies and Representatives of “B”
Class Share Holders. However, for Individual Members the printed copies of Annual Report will be available at all Branches of the
Bank. Furthermore, for information of all the Members, a copy of the Annual Report will be displayed on the Notice Board of the Head
Office & all Branches and on the Bank’s website www.gscbgoa.com .
3. If any suggestion is to be made or any clarification in respect of Annual Report, Balance Sheet, Profit & Loss Account and Audit Memo
is required, the same should be sent in writing addressed to the Managing Director (I/c) of the Bank at Head Office, so as to reach latest
by 22nd December 2020 to enable us to furnish the same at the AGM after referring to the Bank's records.
4. The Member Societies intending to send their alternate representative to attend the said Meeting, substitute to those reported earlier, said
representative shall carry a certified copy of the latest Resolution authorizing him/her to attend & vote on behalf of the Society.
5. Only those who are enrolled as Members on or before 31st March 2020 are eligible to attend the Meeting.
6. The Members are requested to bring their copies of the Annual Report at the Meeting in view of the limited number of copies printed by
the Bank.
7. The Member of the Managing Committee of the Society duly authorised by the Resolution will be allowed to attend/speak and vote at
the AGM.
8. Due to COVID-19, Pandemic, SOP guidelines of Central / State Govt. will have to be followed for conducting Annual General Meeting.
Members attending the Meeting should strictly follow SOPs issued thereof.
Panaji, 11th December 2020
By Order of the Board of Directors.
(A.M. CHODANKAR)
MANAGING DIRECTOR (I/C)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v3
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THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
4v v
Sr.
No
Branch
CodeBranch Branch Manager Mobile No.
BRANCH EXECUTIVES - GOA REGION
1 56 A& RD Mr. Kamlakant Gaude 9284902552
2 24 ADPOI-DURBHAT Mrs Jyoti G Naik 9420766829
3 54 AQUEM Mrs.Rosy Sequeira 9850470745
4 75 ARAMBOL Mr.Rajendra Thali 8999086824
5 76 ASSONORA Mr. Sushan Kanta Parab 9623286646
6 38 BETHORA Mrs. Rajeshree R Naik 9823296551
7 8 BICHOLIM Mr. Rajesh K. Dhond 9923096106
8 55 BORDA Mr. Pratap C. Tari 9822483425
9 59 CALANGUTE Mr. Bhushan Salkar 9422456181
10 14 CANACONA Mr. Premanand B. Pednekar 8007430095
11 47 CANSAULIM Mrs. Flory Rodrigues 7507391536
12 57 CARANZALEM Mr.Prashant Naik 9822063371
13 39 CORTALIM Mrs.Varsha R. S. Zuwarkar 9860088007
14 46 CUNCOLIM Mrs.Sweta Bandodkar 9423886963
15 15 CURCHOREM Mrs.Geeta Sanjay Naik 9823779014
16 26 CURTI Mr. Abhay Janardhan Kerkar 8806237600
17 12 D'NAGAR, Mrs.Swarupa S. Shirodkar 9284328073
18 51 GAWANE Mr. Rakesh Raghuvir Sinari 9423811160
19 32 HEAD-OFFICE Br Mr.Ashok Salgaonkar 8669038125
20 62 HONDA Mr.Raghoba S Parab 9923267191
21 42 I.D.C. Mr. Sanjay S. Sawant 9423319035
22 28 K.T.C. Mrs. Meenal Raut 8329800906
23 33 KERI Mr. Sudam N. Naik 9822686645
24 27 KORGAO Mr.Sharad S. Gad 9422442988
25 13 LOLIEM-POLEM Mr.Dayanand B. Dessai 9158058963
26 44 MANDREM Mr. Nitin Atmaram Parab 9423503409
27 4 MAPUSA MKT. Mr. Arvind Shetgaonkar 9923634895
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v5
Sr.
No
Branch
CodeBranch Branch Manager Mobile No.
28 64 MAPUSA-MAIN Mrs.Varsha Dhaimodkar 9421246213
29 36 MARCEL Mr.Muller Fernandes 9822147995
30 6 MARGAO Mr. Prashant V. Gaonkar 9890283463
31 61 MERCES Mrs. Annie Lobo 7020220723
32 52 MOIRA Mr. Sanjiv P. Lingudkar 9881479889
33 60 MUNDVEL Mrs. Seema N. Chodankar 9545516833
34 43 NAGZAR Mr. Satyawan V. Naik 9834863617
35 37 NEW VADEM Mr.Chetan L. Naik 9226983532
36 11 PALE Mr. Dayanand N Gauns 9422192649
37 3 PANAJI Mr.Satish K Bagve 9422394818
38 71 PARYEM Mr. Shivaji K. Gad 9421154759
39 7 PEDNEM Mr. Anil R. Parab 8830985132
40 34 PIRNA Mr.Prashant Thakkar 8788963492
41 5 PONDA Mr.Vassudev Madkaikar 9511734515
42 40 QUEPEM Mr. Gurudas N Gaonkar 9823455489
43 30 RIVONA Mr.Maruti Patil 9923493625
44 48 SADA Mrs.Sarita Lotlikar 9822183353
45 16 SANGUEM Mrs. Leena Salelkar 8459348758
46 9 SANKHALIM Mrs.Shubhangi Kesarkar 7038565612
47 41 SHIRODA Mrs.Mamta Naik 9823534248
48 73 SERVICE Mr.Giri Naik 9689658881
49 77 SIOLIM Mr. Narayan K. Chodankar 9921338069
50 2 TALEIGAO Mr. Manoj S. Phatarpekar 9422612437
51 35 TISCA USGAO Mr. Sudesh A. Naik 9823522923
52 69 UPPER BAZAR Mrs.Rohini J.B.Prabhu 9890371236
53 10 VALPOI Mr. Pradeep U. Avkhale 9423057766
54 17 VASCO Mr.Tulshidas M. Naik 9552067555
55 53 VEREM Mrs. Lingata A. Vernekar 8329352628
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
6v v
THE GOA STATE CO-OP. BANK LTD.(Scheduled Bank)
“Sahakar Sankul”, Patto Plaza, Panaji, Goa – 403 001(P.O. Box No. 183)
57th ANNUAL REPORT OF THE BANK FOR THE FINANCIAL YEAR 2019-20
To,
The Share Holders of
The Goa State Coop. Bank Ltd.
Dear Members,
On behalf of the Board of Directors, I extend a warm welcome to all of you for the 57th Annual
General Meeting of your Bank. The Board of Directors take pleasure in presenting 57th Annual
Report on the affairs of your Bank alongwith the audited financial statements, for the year ended
31st March, 2020.
I hope all of you and your families are keeping safe and in good health. We are passing through
unprecedented times of COVID-19 Pandemic, which has impacted every aspect of our lives. Your
Bank continues to be cautious, conservative and committed in business operation to protect and
preserve its values. While taking care of the health and safety of its employees, your Bank is
effectively serving the customers and the community at large. The employees of your Bank have
worked tirelessly over the past few months after outbreak of pandemic during the nation-wide
lockdown. All the Branches of the Bank remained operational and open to serve our customers
except on few occasions when restrictions were imposed by the Local Authorities.
Overcoming the present scenario of COVID-19 Pandemic, the Bank has activated its treasury
operations in full swing and out of trading in Governemnt securities, earned trading profit of ` 16.21
Crore during the Financial Year under review. The overall operating profit of the Bank stood at
` 40.19 Crore (Goa Region) which includes income out of trading operations in Government
Securities.
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v7
OVERALL ECONOMIC SCENARIO & GO AN ECONOMY
Towards the close of the financial year, the novel coronavirus (COVID-19) broke out and rapidly
exploded into a pandemic, darkening global economic prospects and imparting extreme uncertainty
about the outlook. National Statistical Office (NSO) revealed that the growth of India's real Gross
Domestic Product (GDP) had slumped to 4.2% in F/Y 2019-20.
The Reserve Bank continued to play a key role in strengthening the co-operative banking sector by
fortifying the regulatory and supervisory framework. The Reserve Bank of India (RBI) has also
announced several measures to ease the financial system stress, including enhancing system
liquidity, reducing interest rates, moratorium on loan repayments for borrowers, asset classification
standstill benefit to overdue accounts where a moratorium has been granted and relaxation in
liquidity coverage requirement, among others.
Economic crisis amidst Mining ban in the State has further worsened the situation on account of
COVID-19 pandemic. Other important economic activity i.e. tourism has come to standstill during
the pandemic period. To overcome the situation Government is in the process of constituting a
business revival committee that will include experts from various fields to chalk out a plan to revive
the economy in the state.
Banking scenario in the State reveals that the total Bank deposits stood at ̀ 84,715 Crore registering
a marginal growth of ` 11,866.72 Crore, whereas advances increased by ` 1,788.57 Crore to
aggregate ̀ 23,985 Crore as on 31.03.2020. However overall CD ratio continues to be low at 28.31%,
which is well below the benchmark level.
PERFORMANCE OF THE BANK
The restrictions imposed by the RBI on PMC Bank, Yes Bank and two major Urban Co-operative
Banks in Goa has resulted in rumors spreading in the market which has affected the business growth
of the Co-operative Banks to some extent during the financial year under review. However your
Bank is growing consistently in this difficult time's. We are well positioned with a strong Balance
Sheet and healthy liquidity. As a responsible leader in the financial services, we always believed in
providing best-in-class banking products and services accessible to all sections of the society.
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
8v v
A. Financials
1 Deposits 240825.38 245037.99 (-)4212.61
2 Advances 159239.06 156708.07 2530.99
3 Business Mix 400064.44 401746.06 (-)1681.62
4 Investments 90106.24 93761.41 (-)3655.17
5 Paid up Share Capital 8542.58 8038.33 504.25
6 Reserves & surplus 17424.85 14813.40 2611.45
7 Operating Profit 5416.70 4038.84 1377.86
8 Accumulated Loss (-)1069.24 (-)5510.85 (-)4441.61
9 Gross NPAs 16432.43 13409.38 3023.05
10 Net NPAs 10749.70 8479.92 2269.78
11 % of Gross NPAs 10.32% 8.56% 1.76%
12 % of Net NPAs 6.75% 5.41% 1.34%
B RATIOS
1 Capital to Risk Assets Ratio (CRAR) 7.31% 4.35% 2.96%
2 Operating Ratios
a) Non Interest Income to working funds 1.00% 0.34% 0.66%
b) Total yield to working funds 9.18% 8.29% 0.89%
c) Interest cost to working funds 6.00% 5.30% 0.70%
d) Gross financial Margin 3.18% 2.99% 0.19%
e) Cost of Management to working fund 2.30% 3.12% (-)0.82%
C. Average Cost and Returns
a) Average Cost of Deposits 6.55% 6.41% 0.14%
b) Average Yield on Advances 11.57% 11.01% 0.56%
c) Average Yield on Investment 9.17% 7.78% 1.39%
D Other s
1 Net Interest Margin 4.17% 3.43% 0.74%
2 Return on Average Assets 1.55% 0.07% 1.57%
3 Staff Cost to Total Expenditure 20.22% 32.16% (-)11.94%
Sr. No. Particulars F. Y. 2019-20 F. Y. 2018-19 Inc/Dec.
(` in Lakh)
KEY FINANCIAL HIGHLIGHTS AND RA TIOS :
The following chart reflects the Key Financial indicators of your Bank for the year 2019-20 compared
to previous year.
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v9
SHARE CAPITAL & RESERVES
The paid up share capital & Reserves of the Bank as on March 31, 2020 stood at ` 85.43 Crore and
` 174.25 Crore respectively. The total number of shareholders of the Bank as on March 31, 2020
under “A” class category are 1481, “B” class category is 1 and “C” class category are 43759.
Out of total paid-up share capital, ` 20.00 Crore is subscribed by Govt. of Goa. As compared to
F.Y. 2018-19, the paid up share capital during 2019-20 showed rise of Rs. 5.05 Crore of which major
contribution is from “C” class shareholders. The Board of Directors acknowledges with thanks the
timely support given by Govt. of Goa & the Shareholders who inculcated the trust in the Bank and
supported by way of contributions to the share capital of the Bank. The growth in the share capital
and Reserves of the Bank is as under.
Sr. No. Particular sPosition as on
31.03.2020Position as on
31.03.2019
Government of Goa 20.00 20.00 0
Co-op. Institutions 7.18 7.16 0.02
Individuals 58.25 53.22 5.03
Total 85.43 80.38 5.05
1.
2.
3.
Increase /Decrease
Share Capital : (` in Crore)
Sr. No. Particular sAs on
31.03.2020As on
31.03.2019
Statutory Reserve Fund 5.65 5.65 0
Reserves for unforeseen losses 0.59 0.59 0
Agricultural credit Stabilization Fund 2.30 2.30 0
Others (Excd. O/D Int. Res.) 161.63 135.50 26.13
Total 170.17 144.04 26.13
1.
2.
3.
4.
Increase /Decrease
Reserves & Surplus: (` in Crore)
WORKING CAPITAL :
The working capital of the Bank is ̀ 2705.93 crore as on 31st March 2020 as against ̀ 2709.64 crore
as on 31st March 2019. The total business mix of the Bank is ` 4000.64 crore, as on
31st March 2020 as against ` 4017.46 crore for the previous year.
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
10v v
Sr. No. Particular sAs on
31.03.2020As on
31.03.2019
Savings Bank Deposits 826.75 818.36 8.39
Current Deposits 242.03 181.68 60.35
Term Deposits 1339.47 1450.34 (-)110.87
Total 2408.25 2450.38 (-)42.13
1.
2.
3.
Increase /Decrease
b) Ad vances :
We are happy to announce that your Bank CD ratio is 66.12% with the advances of your Bank at
` 1592.39 Crore. The advances of Goa region is ̀ 1325.78 Crore. Your Bank has always focused on
maintaining good and quality advances at all times and balanced its credit portfolio across all
productive sectors.
It is an important role given by the (RBI) to the Banks for providing a specified portion of the Bank
lending to few specific sectors like agriculture and allied activities, micro and small enterprises, poor
people for housing, students for education and other low income groups and weaker sections.
Keeping with the trend of the past, your Bank has continued its efforts of augmenting growth under
Priority Sector Lending. Over the past ten years, your Bank in the capacity of the Apex Financing
Agency continues to finance the agricultural and allied activities to the farmers in the State as well as
other priority sector lending despite of not receiving refinance from NABARD due to non achieving
mandated CRAR of 9%. This is also one of the reason which is affecting the profitability of the Bank.
The Management with support and cooperation from the Government of Goa has been one of the
major lenders in the State to the agricultural sector with finance for Crop loan, Dairy farming, Poly
Houses, Fisheries and other allied activities. The Bank is providing Short term agricultural credit
support through Kissan Credit Cards to the needy farmers in a flexible and hassle-free manner. The
Bank has also promoted 40 Farmers Clubs in Goa.
In the field of Micro finance in the State, your Bank continues to be one of the leading financers to the
Self Help Groups (SHG), Joint Liability Groups(JLG) as well as to very small entrepreneurs through
Swarojgar Credit Cards. The Bank has 3825 affiliated Self Help Groups out of which 312 Groups are
credit linked with outstanding loan of ̀ 624.20 lakh. The Bank has also Financed 52 JLG's out of 657
affiliated Joint Liability Groups and the amount outstanding thereto is `13.11 lakh.
a) Deposits :
The total deposits of the Bank as on 31st March 2020 stood at ̀ 2408 .25 Crore. The deposits in Goa
region are ` 1863.00 Crore. Market share of all the Co-operative Banks in Goa stood at 6.75%,
whereas, your Bank's market share to total deposits is 2.20 %. The CASA deposits as at 31st March
2020 stood at `1068.78 crore and accounted for 44.38 % of the total deposits of your Bank. The
deposits portfolio of the Bank constitutes the following:
( ` in Crore)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v11
The loans and ad vances por tfolio outstanding as on 31st Mar ch 2020 under v ariouscategories is as under
Overduesto
Outstanding%
AmountOverdue
AmountOutstanding
AmountDisb ursed
Type of Loans
ST Agriculture/Allied 1726.98 2472.57 523.74 21.18%
MT Agriculture/Allied 2082.35 6138.72 525.98 8.57%
LT Agriculture/Allied 13.34 860.68 1.85 0.21%
ST Non Agriculture 1267.50 1400.09 1217.62 86.97%
MT Non Agriculture 6541.73 39860.29 4860.11 12.19%
LT Non Agriculture 26804.16 92933.52 1183.29 1.27%
CCC/Pledge/HCC Etc 4860.93 7956.61 3145.78 39.54%
3649.31 1705.73 0.00 0.00%
Gold 1144.47 1135.62 60.46 5.32%
URBAN LOANS
Medium Term 4712.73 4401.58 533.12 12.11%
TOTAL 52803.50 158865.41 12051.95 7.59%
373.65 373.65
GRAND TOTAL 52803.50 159239.06 12425.60 7.80%
* Amount overdue under
liquidation societies.
Loan Against Term Dep./NSC/
Pigmy/IBP
Openingbalance as on
01.04.2019
Recoveriesduring the
year
Outstandingas on
31.03.2020
PACS/V.K.S.S.Stys 658.95 458.18 197.50 666.90 647.73
SES Societies 8463.10 1146.00 818.27 3712.69 6714.68
Consumers Stys 1054.74 4830.18 36040.77 40649.24 1276.45
SSSKarkhana 3083.20 416.63 663.86 1581.98 2581.71
SHG C.C. Sty 707.36 314.92 73.14 471.22 624.20
TOTAL 13967.35 7165.91 37793.54 47082.03 11844.77
Disb ursedduring the
yearOther sParticular s
( ` in Lakh)
( ` in Lakh)
Loans disb ursed to v arious types of Societies during financial y ear 2019-20 is as under
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
12v v
Sr. No. Particular s No.Amount
Outstanding
A Cases under SARFAESI Act 201 81.35
i) Under litigation (of A) in DRT 6 15.36
B Execution Cases pending before District Court 230 7.31
C ABN Cases pending before Arbitration 242 15.95
Total (A+B+C) 673 104.61
c) Assets Quality:
Gross NPAs of the Bank as on 31-03-2020 stood at ` 133.29 Crore which constitutes 10.05 % to
total advances. Similarly Net NPAs stood at ` 83.75 Crore which is 6.32% of total advances. The
stress has been given on recovery to reduce the level of NPAs.
The Bank has successfully implemented the OTS scheme during current year for the borrowers and
the Board expects sizeable recovery during the F/Y 2020-21.
The brief statement of various legal actions initiated by the Bank to improve recovery position and
reduction of NPAs thereof is as under : -
Out of 719 loan cases falling under the Debt Relief Scheme for mining affected borrowers, 703
applications were submitted for claiming subsidy from Government of Goa. Of these 697 cases have
been processed by EDC of which 661 accounts stand closed. We are yet to receive subsidy for
balance 33 cases.
TREASURY OPERATIONS:
Your Bank's Treasury Department, besides undertaking the Statutory role of maintenance of CRR/
SLR for the Bank, also undertakes Treasury operations. Your Bank's Treasury operations consist of
SLR investments, Fixed Deposits with Banks and Call Money Placements. During the period ended
31st March, 2020, the Investment portfolio of your Bank stood at ` 901.06 Crore.
Besides yield on Investment, your Bank posted profit of ` 16.21 Crore in trading operations in
Government securities. This figure for previous year was ` 1.86 Crore.
Your Bank takes investments decisions considering the market scenario and with a view to optimize
the overall earnings on the investment. Your Bank has in place an Investment Policy which is
framed in accordance with the guidelines issued by RBI. The Treasury Department of your Bank
functions within the framework of investment policy of the Bank. The Investment Committee meets
more often to review investment decisions.
The investment portfolio of the Bank as on 31st March 2020 comprises of the following:
( ` in Crore)
Sr. No. Particular sAs on
31.03.2020As on
31.03.2019
Government Securities 551.55 608.36 (-)56.81
Investment in Shares 0.05 0.05 0.00
Call Deposits 72.07 58.18 13.89
Term Deposits with other Banks 277.39 271.01 6.38
Total 901.06 937.60 (-)36.54
1.
2.
3.
4.
Increase /Decrease
(` in Crore)Investments
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v13
PROFITABILITY :
We are happy to announce that your Bank's Goa Region achieved operating profit of ` 40.19 crore
during the financial year which were adjusted to past accumulated losses of ̀ 50.15 crore. Thus the
balance of loss carried forward during the year under review is ` 9.96 crore.
In view of the position as explained above the Board regrets its inability to declare any dividend
during the period under review.
We may add that during the current year 2020-21, the accumulated losses of ` 9.96 crore have
been completely wiped off and Bank has made operating profit of ` 10.57 crore upto
30th September, 2020 even in the pandemic of COVID-19.
C R A R :
The CRAR of the Bank has improved to 7.31% from 4.35% for the previous year. The Bank is taking
all possible steps to improve the CRAR to desired level as per Regulatory norms i.e. 9%. There has
been much improvement in the CRAR as compared to the previous years.
We may mention that the CRAR of Goa Region as on 30th September, 2020 stood at 9.71%.
HUMAN RESOURCES :
The success of any organization depends upon its Human Resources. The Bank has total strength
of 525 employees. The productivity per staff is ` 762.03 lakh as on 31st March 2020. The Bank has
independent HR Department. The Bank undertakes training to its staff members and during the
year under review training was given in various cadres to improve the service and efficiency of our
staff members.
Bank undertakes regular workshops for the Societies, self helf groups. Under NABARD sponsored
programme, the Financial Literacy Cell of the Bank has conducted 115 camps for educating
customers in various aspects of Banking at different locations in Goa, which is highest number of
camps conducted by any Bank in Goa during the year.
PAYMENT OF PREMIUM TO DICGCI :
The Bank is regular in payment of premium to the DICGCI. The premium so paid during the year is
` 3.03 crore including GST.
We may mention that the deposits upto ` 5.00 lakhs are fully insured by DICGCI.
PROGRESS ON BIFURCATION PROCESS :
Your Bank is actively pursuing the matter of bifurcation with Administrator, Daman & Diu State
Co-operative Bank Ltd. and the Regulators.
In the Task force committee Meeting recently held, plan of action was drawn to speed up the
bifurcation.
The Daman & Diu State Co-operative Bank Ltd. has applied for IFSC, MICR codes through
YES Bank and is awaiting for RBI permission for issue of required codes for them. No sooner those
codes are received the Bank will transfer the amount payable to the Daman & Diu State
Co-operative Bank Ltd. and will complete the bifurcation process.
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
14v v
OBITUARY :
The Board of Directors express their profound sorrow to the departed souls of shareholders,
Ex-Directors, Co-operators, Staff and the other members who passed away during the year and
pray for their eternal peace.
IMPORTANT FACILITY PROVIDED TO THE CUSTOMERS & BANK'S FUTURE PLANS :
Implementation of Door Step Banking facilities for Senior Citizens through MOBILE ATM BANKING
CASH COUNTER VAN. One such mobile van is operational in South Goa District and the Bank is
planning to deploy another mobile van with ATM and Banking Cash Counter facility to serve the
customers in North Goa District under the financial assistance from NABARD.
Strengthening the IT Department
The Bank is in the process of recruitment of three IT officers to strengthen the MIS section and also
to adopt in the Bank, the technological changes happening in the IT sector from time to time.
To bring all the PACS on the IT platform of the Bank by undertaking computerization of PACS with
the support of NABARD and Registrar of Co-op. Societies.
To set up a DR site.
To undertake renovation of branches in a phased manner. Also shifting of Margao and Bethora
Branch in new premises.
To avail refinance from NABARD under Atmanirbhar fund.
ACKNOWLEDGEMENT :
The Board acknowledges with gratitude the valuable and timely advise, guidance and support
received from Reserve Bank of India, NABARD, Registrar of Co-op. Societies – Govt. of Goa,
Department of Agriculture, Department of Animal Husbandry & Veterinary Services, Government of
Goa and all other concerned Departments of Government of Goa, NAFSCOB, NCUI, etc.
The Board is also thankful to M/s. Nandan Sirsat & Associates, Statutory Auditors for their guidance
and timely completion of Audit.
The Bank offers its special thanks to NABARD for their support in launching of Bank's first Mobile
ATM Van for South Goa, special grant assistance for conducting Financial Literacy Camps and
sanction of ̀ . 20.00 crore under ST(OSAO) being refinance support to our Bank for Financing Short
Term other Loans during the year 2020-21.
The Board would like to take this opportunity to express sincere thanks to its valued clients and
customers for their continued patronage. The Directors express their deep sense of appreciation to
all the employees, whose outstanding professionalism, commitment and initiative have made the
organization's growth and success possible and continue to drive its progress. Finally, the Directors
wish to express their gratitude to the Members for their trust and support.
For the Boar d of Director s Sd/-
(ULHAS B. PHAL DESSAI)CHAIRMAN
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
24v v
THE GOA STATE CO-(SCHEDULED
PROFIT & LOSS ACCOUNT FOR
CORRESPONDINGFIGURES OF THEPREVIOUS YEAR
31/03/2019
AMOUNTEXPENDITURE AMOUNT
Sd/-
B. B. Fernandes
GENERAL MANAGER (ACTS)
Sd/-
A. M. Chodankar
MANAGING DIRECTOR(I/C)
Sd/-
P. N. Kurtikar
VICE- CHAIRMAN
1,51,74,62,418 I. Interest Paid on1,51,73,67,938 Deposits 1,70,59,04,301
94,480 Borrowings 1,81,184 1,70,60,85,485
76,30,91,707 II. Salaries & Allowances35,61,79,221 Salaries(Staff) (sch 1) 36,57,52,935
1,57,96,895 Retiremental Benefits 2,67,00,00017,92,366 PF Adm.charges on wages 17,75,14814,96,524 EDLI(Empl’s Deposit Linked Ins. Scheme) 16,39,399
34,75,83,717 Employees Group Gratuity 3,34,94,0904,02,42,984 Employees PF 4,26,19,249 47,19,80,821
1,71,300 III Directors Sitting Fees 2,90,400
1,59,000 IV T.A./D.A. of Management 4,19,860
1,37,16,742 V Rent, Taxes, Insurance & Electricity60,04,066 Rent 54,88,062
2,76,041 Taxes 3,38,07726,56,055 Insurance 22,66,29847,80,580 Electricity 45,31,103 1,26,23,540
2,44,10,618 VI Premium paid to D.I.C.G.C. 2,57,10,826
71,77,010 VII AMC on:23,43,314 Hardware 27,64,04726,60,096 Software 19,45,59021,73,600 Others (Sch 2) 21,30,812 68,40,449
VIII Amortisation of Premium3,92,222 on HTM Securities 4,99,839
1,86,14,288 IX Depreciation52,29,600 Building 40,48,28759,77,251 Furnitures, Fixtures & Vehicles 36,63,60274,07,437 Computers 65,42,253 1,42,54,142
3,97,85,237 X Establishment Expenses6,97,928 Legal Charges & Expenses 6,76,6105,76,756 Subscription & Periodicals 5,82,8983,34,812 Advertisement & Publicity(sch 3) 3,03,125
37,47,797 Consultancy Charges 36,64,9131,30,65,496 ATM Expenses 61,92,731
14,06,254 Serv.Ch. On Consortium Adv. 4,87,67870,76,012 General Charges(Sch 4) 76,83,76545,27,599 Postage, Teleph. & Lease Line Ch. 30,37,65121,42,366 Stationery 18,79,78819,06,210 Repairs to Property(Sch 5) 11,54,86438,14,007 GST input unutilised 56,47,490
Auditor’s Remuneration4,00,000 - As auditor 4,60,230
90,000 - Tax matters 0 3,17,71,743
4,31,11,168 XI Provisions :69,95,214 Standard Assets 42,69,567
3,61,15,954 Bad & Doubtful Debts 8,60,66,7230 Provision for Tax
2018-19 1,05,00,0002019-20 5,50,00,000 15,58,36,290
XII Extra Ordinary Items2,63,91,312 VRS Compensation 0
1,83,23,131 XIII Balance of Profit 44,41,61,461
2,47,28,06,153 2,87,04,74,857
SUBJECT TO THE NOTES ATTACHED HERE TO AND FORMING PART OF THE BALANCE SHEET”
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v25
OPERATIVE BANK LTD.BANK)
THE YEAR ENDED 31.03.2020
CORRESPONDINGFIGURES OF THEPREVIOUS YEAR
31/03/2019
AMOUNTINCOME AMOUNT
Sd/-
U. B. Phal Dessai
CHAIRMAN
Sd/-
CA : N M SIRSAT
(Proprietor)
M.N.158694
As per our report of even date attachedFor Nandan Sirsat and Associaties
Chartered AccountantsPlace : Mapusa-GoaDate : 10-12-2020
1,90,45,05,313 I. Interest Received On
1,69,75,82,294 Loans & Advances 1,82,02,11,529
Deposits with other
20,69,23,019 Financial Institutions 33,14,60,846
47,20,61,193 Investments 45,71,36,503 2,60,88,08,878
39,02,326 II. Commission & Exchange 21,66,793
38,48,888 III Rent Received 36,80,000
5,28,24,077 IV Service Charges & Processing Fees 4,87,77,079
94,54,542 V Other Receipts (Sch 6) 1,11,68,101
2,62,09,814 VI. Profit on
75,70,000 a) Redemption of Govt. Securities 1,38,95,679
1,86,39,814 b) Sale of Govt. Securities 16,21,36,752 17,60,32,431
0 VII. Excess Provisions Reversal
0 Bad & Doubtful Debts 1,79,98,533
0 Standard Assets 18,43,041 1,98,41,574
2,47,28,06,153 2,87,04,74,857
(Amt. in INR)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
26v v
THE GOA STATE CO-(SCHEDULED
BALALNCE SHEET
CAPITAL & LIABILITIES
1. CAPITAL1,25,00,00,000 I. AUTHORISED CAPITAL 1,25,00,00,000
1) ` 25,00,00,000/— ` 2,50,000 ‘A’ Classshares (2.5 lakhs shares of ` 1000/- each)
2) ` 50,00,00,000/— ` 1,00,000 ‘B’ Classshares (1.00 lakhs shares of ` 5000/- each)
3) ` 50,00,00,000/— ` 5,00,000 ‘C’ Classshares (5 lakhs shares of ` 1000/- each)
80,38,32,600 II. ISSUED, SUBSCRIBED & PAID UP7,15,70,700 a. A” class shares held by Cooperative
Institutions of ` 100/- / ` 1000/- each 7,17,98,90020,00,00,000 b. “B”class shares held by Government
of Goa of ` 1000/- / ` 5000/- each. 20,00,00,00053,22,61,900 c. “C”class shares held by Individuals
of ` 100/- / ` 1000/- each 58,24,58,700 85,42,57,600
16,92,340 2. SHARE APPLICATION MONEY 1,06,86,340
1,44,04,17,770 3. RESERVE FUND AND PROVISIONS5,65,40,241 Statutory Reserve fund 5,65,40,2413,05,06,769 Building Fund 3,05,06,769
83,34,557 Dividend Equilisation Fund 83,34,55759,39,849 Reserves for unforseen losses 59,39,849
2,29,79,849 Agriculture credit stabilsation Fund 2,29,79,8491,11,61,000 Shares Capital Redemption fund. 1,11,61,000
1,93,894 Education Fund & Fees 1,93,8941,56,228 Development Fund VKS Sty. 1,56,228
47,57,74,208 Revaluation Reserve 65,73,71,70028,33,59,275 Reserve for Loss Assets(IIBI) 28,33,59,2751,07,19,292 General Reserve (Sch 1) 1,19,50,4525,66,72,486 Contigent Prov. Against STD Assets 5,90,99,014
45,20,24,558 Provision for Bad & Doubtful Debts (Sch 2) 52,00,92,7462,24,91,630 Prov. For Fraudulant Cases 2,24,91,630
1,80,585 Prov.for Inter Bank Reconciliation 1,80,58533,83,349 Capital Reserve 1,13,33,349 1,70,16,91,139
4. DEPOSITS & OTHER ACCOUNTS14,37,48,36,634 A. FIXED DEPOSITS8,10,27,40,466 I. SOCIETIES: (Sch 3) 7,21,06,02,363
24,03,91,788 II. LOCAL BODIES: (sch 4) 25,17,99,7466,03,17,04,380 III. INDIVIDUALS: (Sch 5) 5,80,72,64,918 13,26,96,67,027
10,06,70,556 B. MONTHLY RECURRING DEPOSITS (Sch 6) 10,27,66,291
2,76,45,561 C. PIGMY DEPOSITS 2,19,86,958
1,28,33,00,185 D. OTHER DEPOSITS2,74,560 SECURITY DEPOSITS 2,91,998
1,28,30,25,625 MATURED DEPOSITS 1,89,81,02,135 1,89,83,94,134
8,18,36,14,090 E. SAVING BANK DEPOSITS:1,39,05,50,860 Societies 1,56,83,75,293
57,87,90,795 Local Bodies. 56,19,66,1566,21,41,29,578 Individuals 6,13,72,02,463
1,42,857 N.R.I./N.R.E. 0 8,26,75,43,912
Corresponding Figures ofthe Previous Year
31/03/2019AMOUNT AMOUNT
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v27
OPERATIVE BANK LTD.BANK)
AS ON 31.03.2020
PROPERTIES & ASSETS
1,08,61,44,541 1. CASH.1,01,51,80,278 With Reserve Bank of India 1,00,43,80,278
6,20,01,163 In hand 7,91,47,94689,63,100 In ATMs 82,32,000 1,09,17,60,224
58,90,00,669 2. BALANCES WITH OTHER BANKS1,25,30,170 Current A/c with SBI & other Nationalised Banks 1,85,02,312
57,64,69,961 Current A/c with other Banks. 58,51,04,314538 Current A/c with Coop.Banks. 0 60,36,06,625
2,71,01,71,000 3. TERM DEPOSITS WITH BANKS 2,77,39,51,000
58,18,00,000 4. MONEY AT CALL 72,06,70,595
6,08,41,70,293 5. INVESTMENTSa In Central & State Govt. Securities
4,49,30,20,079 1. Central Govt. Securities 2,81,93,86,801Face Value ` 2,88,30,50,000Book Value ` 2,81,93,86,801
1,59,06,48,114 2. State Govt. Securities 2,69,61,13,084Face Value ` 2,68,39,00,000Book Value ` 2,69,61,13,084
5,02,100 b. Shares of Coop. Institution. 5,02,100 5,51,60,01,985
15,67,08,07,296 6. ADVANCES
1,96,66,60,279 I. SHORT TERM LOANS 1,46,70,61,873Of the total Short Term advances:Cash Credit LimitsSocieties: ` 32,77,73,563Others: ` 80,57,38,365Term LoanOthers: ` 33,35,49,946
(Of the total Short Term advances ` 33,65,118pertain to Societies under liquidation)
5,36,73,81,615 II. MEDIUM TERM LOANS 5,07,74,24,125Of the total Medium Term advances:Amt due from Soc- ` 73,25,44,081Others- ` 4,34,48,80,044(Of the total Medium Term advances` 3,39,85,479 pertain to Societiesunder Liquidation)
8,33,67,65,402 III. LONG TERM LOANS 9,37,94,20,380 15,92,39,06,378Of the total Long Term advances:Amount due from Soc.- ` 3,60,93,611Others - ` 9,34,33,26,769
35,96,06,849 7. INTEREST RECEIVABLE ON19,07,94,274 Loans & Advances 15,30,45,43210,05,30,414 Investments 21,69,64,2376,82,82,161 Bank Deposits 4,20,22,951 41,20,32,620
56,35,59,171 8. FIXED ASSETS LESS DEPRECIATION29,75,000 Land 29,75,000
4,37,49,893 Premises 3,94,06,40347,57,74,208 Premises A/c(Revaluation) 65,73,71,7004,10,60,070 Others (Sch 11) 4,48,59,951 74,46,13,054
Corresponding Figures ofthe Previous Year
31/03/2019AMOUNT AMOUNT
(Amt. in INR)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
28v v
THE GOA STATE CO-(SCHEDULED
BALALNCE SHEET
CAPITAL & LIABILITIES
Corresponding Figures ofthe Previous Year
31/03/2019
53,37,32,126 F. CURRENT DEPOSITS:19,68,65,328 Societies 24,13,76,388
(out of which from urban Coop. Banks -` Rs.17843456.26)
68,43,676 Local Bodies. 1,42,40,69232,93,33,362 Individuals 26,64,09,081
6,89,760 Pigmy Deposit Collection a/c. 1,46,110 52,21,72,271
1,17,36,74,252 5. INTEREST PAYABLE 1,29,30,92,788
5,96,83,059 6. CLEARING ADJUSTMENTS (Sch 7) 61,747,575
61,18,38,021 7. OTHER LIABILITIES3,17,89,262 Sundry Creditors (Sch 8) 3,64,62,8491,92,84,713 Draft & Payorder payable 2,56,75,385
7,37,500 Audit fees payable 4,02,0003,82,500 Consultancy fees Payable 4,72,500
9,215 Branch Adj. for Net debit balance 9,21582,48,889 TDS Payable (Sch 9) 55,58,965
35,157 EGSLIS scheme 36,0829,74,977 ABN/Recovery Exe. Fees Payable 9,73,727
16,73,52,710 Subsidy Reserve Fund. 18,49,74,0240 Collection of Electricity/Water Bills 38,590
15,55,200 Loss on Non Banking Assets 15,55,2005,46,999 NFS issuer/Aquirer (Net) 6,10,643
0 PMJJBY Collection Account 40,60859,207 Rent Payable 64,802
94,17,347 NFS Issuer A/c 48,23,1729,90,556 Security Deposit (contractors) 10,26,655
35,91,69,156 Dues payable to staff (Sch 10) 4,16,31,85873,15,377 Earnest Money(EMD) 69,29,47229,96,363 Branch ATM GL AC 8,11,463
100 Sim SE Pay 1000 Draft paid witthout advice 46,164
9,72,793 GST Payable 14,19,1710 Deaf collection Account 23,36,1660 Provision for Tax 6,55,00,000 38,13,98,810
4,09,21,890 8. OVERDUE INTEREST RESERVE 4,07,93,616
2,04,48,906 9. BRANCH ADJUSTMENT(Net) 0
8,83,732 10. BILLS FOR COLLECTION 5,02,966(Being Bills Receivable as per contra)
3,79,70,851 11. ACCEPTANCES, ENDORSEMENT 2,88,84,740& OTHER OBLIGATIONS ONBEHALF OF CUSTOMERS AS PER CONTRA
28,69,51,62,573 TOTAL RUPEES 28,45,55,86,165
AMOUNT AMOUNT
Sd/-
B. B. Fernandes
GENERAL MANAGER (ACTS)
Sd/-
A. M. Chodankar
MANAGING DIRECTOR(I/C)
Sd/-
P. N. Kurtikar
VICE- CHAIRMAN
SUBJECT TO THE NOTES ATTACHED HERE TO AND FORMING PART OF THE BALANCE SHEET”
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v29
OPERATIVE BANK LTD.BANK)
AS ON 31.03.2020
PROPERTIES & ASSETS
Corresponding Figures ofthe Previous Year
31/03/2019AMOUNT AMOUNT
15,10,55,473 9. OTHER ASSETS:4,57,44,412 Sundry Debtors 3,92,58,680
5,71,027 Comm. & Exchange Rec. 5,72,30967,832 Library Books 73,002
28,43,328 Stock of Stationery 27,32,9403,30,937 Telephone connection deposits 3,30,937
48,29,351 Festival & Special Advance 41,29,23914,32,329 Security deposit a/c. 14,50,4741,19,824 Subsidy due. 1,19,824
7,724 Cersai registration fee(Equi Mort) 2,45045,713 Security Transaction Tax 45,713
50,91,840 Rent & Water Charges receivable 14,44,32030,569 Electricity & Water Connection Deposits 48,929
1,51,46,986 Receivable Agaist Fraud Cases 1,51,46,9862,51,44,423 NFS Settlement A/c 4,53,64,893
90,51,514 DEAF Claim A/c 30,18,31258,84,119 NFS Aquirer A/c 1,20,36,581
6,974 KCC Int. Waiver Receivable 66813,031 Water Charges Receivable 0
1,64,648 PAN card coupon amt. receivable 1,63,4602,27,44,534 Tax Deducted at Source 2,45,99,309
1,15,474 Graha Adhar Settlement 1,15,4741,05,00,000 Advance Tax 6,55,00,000
11,51,936 GST cr availble 8,73,4394,930 NFS Service Tax Ac 6,54,831
12,018 NFS Issuer Charge Back Ac 36,4040 Advance to the Owner of the Premises 1,00,000 21,78,19,173
1,46,92,762 10. CLEARING ADJUSTMENTS (SCh 12) 90,33,375
1,08,55,529 11. NON BANKING ASSETS 82,55,529Acquired in satisfaction of Banks claim
28,33,59,275 12. LOSS ASSETS(IIBI Bonds) 28,33,59,2758,83,732 13. BILLS RECEIVABLE 5,02,966
(Being bills for collection as per contra)
14. BRANCH ADJUSTMENT(Net) 1,42,64,956
3,79,70,851 15. ACCEPTANCE ENDORSEMENT 2,88,84,740& OTHER OBLIGATIONS ONBEHALF OF CUSTOMERS AS PER CONTRA
55,10,85,132 16. PROFIT & LOSS A/CAs per Last Balance Sheet. 55,10,85,132Less: Profit for the year ended 31.03.2020 44,41,61,461 10,69,23,671
28,69,51,62,573 TOTAL RUPEES 28,45,55,86,165
Sd/-
U. B. Phal Dessai
CHAIRMAN
Sd/-
CA : N M SIRSAT
(Proprietor)
M.N.158694
As per our report of even date attachedFor Nandan Sirsat and Associaties
Chartered AccountantsPlace : Mapusa-GoaDate : 10-12-2020
(Amt. in INR)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
30v v
THE GOA STATE CO-OPERATIVE BANK LTD.
SCHEDULE 1 SALARY1,14,280 Staff Training & Development 52,305
9,034 Staff L.F.C. Bills 91,97830,000 Hospitalisation 30,000
4,54,013 Travelling & Conveyance 3,75,4831,690 TADA to staff 0
39,39,87,735.00 Staff salary 36,45,37,9725,54,180 Bonus /Exgratia Paid 6,18,400
9,459 Gratuity 032,944 Promotion & recruitment 0
0 Leave Encashment 46,79712,28,870 Ex-gratia 36,57,52,935
SCHEDULE 221,73,600 AMC ON OTHERS
6,76,604 H.O.complex maint 6,36,58214,96,996 Security Services 14,94,230 21,30,812
SCHEDULE 33,34,812 ADVERTISEMENT & PUBLICITY2,62,812 Advertisement 2,63,125
42,000 Sponsorship 10,00030,000 Donations & Contributions 30,000 3,03,125
SCHEDULE 470,76,012 GENERAL CHARGES
0 Staff Training & Development 14,5200 Election Expenditure 34,151
8,70,455 Stationery & Printing / Courier charges 7,28,0668,74,569 Comm. Paid to Pigmy Collectors 7,74,1887,96,500 Vehicle Maintenance 6,74,588
20,000 Clearing House Charges 5,00014,77,005 Taxi Charges on Cash remitt. 15,84,590
8,64,689 Bank Charges 9,69,85754,500 Stock Audit Charges 1,03,431
2,63,232 Computer Consumables 1,72,16235,315 Mandatory Advt/Expenses 4,020
2,82,815 Water Charges 289,2100 Regional Office Expenditure 10,221
8,894 Misc. Debit bal written off 013,726 Expenses on work shops 063,300 Shifting charges 0
Other expenses89,683 Customer Refreshment 83,161
7,18,210 SweepingCharges 8,13,0006,43,119 Other Charges 14,23,600 76,83,765
SCHEDULE 50 Repairs to Property 11,54,864
19,06,210 Loss on sale of dead stock 0 11,54,864SCHEDULE 6
94,54,543 OTHER RECEIPTS0 Enrollment Fees 8,000
2,73,850 Equitable Mortg. Fee 1,89,39016,60,894 Int. Subvention Received 27,43,399
Misc. Receipts22,53,621 Other Receipts 29,04,739
3,00,904 SARFAESI Charges 76,18026,083 Recovery Charges 858
3,18,874 NFS interchange ATM 7,83,87755,730 Profit on sale of Dead Stock 7,917
5,12,244 Input Service Tax Cr. Utilised 3,60,37040,52,343 Safe Deposit Locker Rent 40,93,370 1,11,68,101
Previous Year
31.03.2019
Current Year31.03.2020
Current Year31.03.2020
Schedules of Profit & Loss Account 31-March-2020(SCHEDULED BANK)
PARTICULARS
(Amt. in INR)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v31
THE GOA STATE CO-OPERATIVE BANK LTD.
PARTICULARS
SCHEDULE 11,07,19,292 GENERAL RESERVE
Opening balance 1,07,19,292Add:Addition during the YearBalance of Entrance Fees 16,280Balance of Nominal Membership Fees 12,14,880 1,19,50,452
SCHEDULE 2PROVISION FOR BAD & DOUBTFUL DEBTS
45,20,24,558 Opening balance 45,20,24,558Add :Additon during year 8,60,66,723Less: Reversal during year 1,79,98,535Balance as on date 52,00,92,746
FIXED DEPOSITSCHEDULE 38,10,27,40,466 SOCIETIES:7,02,68,65,720 Re-invest.Deposits 6,17,03,27,347
94,81,39,199 Fixed Deposits 95,52,37,74412,77,35,547 Res.Fund Dep.(Affiliated Sty.) 8,50,37,272 7,21,06,02,363
SCHEDULE 424,03,91,788 LOCAL BODIES:19,70,73,914 Re-investment Deposits 19,39,65,7234,33,17,874 Fixed Deposits. 5,78,34,023 25,17,99,746
SCHEDULE 56,03,17,04,381 INDIVIDUALS:
33,94,632 Lakhpati deposits 25,90,818250 Pension Prov.Deposit 250
5,33,58,45,913 Re-Investment Deposit. 5,24,08,19,0041,780 Marriage Deposits Scheme 1,780
69,24,61,806 Fixed Deposit. 56,38,53,067 5,80,72,64,918SCHEDULE 6
10,06,70,556 MONTHLY RECURRING DEPOSITS43,80,348 Societies 78,99,584
18,000 Local Bodies. 46,2009,62,72,208 Individuals 9,48,20,507 10,27,66,291
SCHEDULE 75,96,83,060 CLEARING ADJUSTMENTS
56,622 Clearing adjustment 89,9671,250 All Goa Clearing 1,250
5,84,53,589 CTS/Non CTS Clearing 6,04,84,76011,71,599 Inter Branch Transaction 11,71,599 6,17,47,575
SCHEDULE 83,17,89,262 SUNDRY CREDITORS1,43,71,221 Sundry Creditors 1,99,23,1731,74,18,041 Unclaimed Amounts 1,65,39,676 3,64,62,849
SCHEDULE 982,48,889 TDS PAYABLE
4,11,500 Employees TDS Payable 21,44,4002,977 TDS on contractors. 4,679
67,72,550 TDS on int. paid on Time Deposits. 31,30,05310,53,103 TDS on proffession. 2,71,824
1,490 TDS on comm. Paid to Pigmy Collector 7497,260 TDS on Rent 7,260
9 Service Tax/Cash Trans. Tax Payable 0 55,58,965SCHEDULE 10
35,91,69,156 DUES PAYABLE TO STAFF5,31,890 Staff LIC premium payable 6,89,417
10,53,549 Dues Payable to Retired Employees 10,18,5591,00,00,000 PL Encashment on Retirement 79,14,775
34,75,83,717 Staff Gratuty Liability 3,20,09,107 4,16,31,858SCHEDULE 11
4,10,60,070 OTHER FIXED ASSETS3,96,47,159 Furniture Fixtures & Computers 4,37,41,301
12,41,876 Vehicle Account 9,81,8241,71,035 H. O. Plant & Machinery 1,36,827 4,48,59,951
SCHEDULE 121,46,92,762 CLEARING ADJUSTMENTS8,68,41,961 CTS/Non CTS Clearing 59,38,200
7,904 MICR Clearing 02,02,105 NACH Dr/Cr. Accounts 30,87,275
1,44,82,754 ECS Mandate Credit 7,900 90,33,3758,68,41,962 Less-CTS & RTGS Balnce of Daman & Diu
Previous Year
31/03/2019
Schedules of Balance Sheet 31-March-2020(SCHEDULED BANK)
Current Year31.03.2020
Current Year31.03.2020
(Amt. in INR)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
32v v
THE GOA STATE CO-(SCHEDULED
PROFIT & LOSS ACCOUNT FOR
CORRESPONDINGFIGURES OF THEPREVIOUS YEAR
31/03/2019
AMOUNTEXPENDITURE AMOUNT
Sd/-
B. B. Fernandes
GENERAL MANAGER (ACTS)
Sd/-
A. M. Chodankar
MANAGING DIRECTOR(I/C)
Sd/-
P. N. Kurtikar
VICE- CHAIRMAN
I. Interest Paid on1,35,91,91,178 Deposits 1,38,87,62,235
II. Salaries & Allowances30,50,79,603 Staff Salaries (sch 1) 31,74,72,818
1,57,96,895 Retiremental Benefits 2,67,00,00015,77,650 PF Adm.charges on wages 15,40,025
EDLI (Empl’s deposit linked ins. Shceme 13,70,74831,51,30,241 Employees group gratuity 3,19,94,090
3,50,89,691 Employees PF 3,70,32,127 41,61,09,808
1,20,800 III Directors Sitting Fees 2,62,400
27,749 IV T.A./D.A. of Management 1,34,179
V Rent, Taxes, Insurance & Electricity53,51,598 Rent 48,08,119
2,76,041 Taxes 2,96,72922,66,656 Insurance 18,84,86442,98,625 Electricity 38,95,186 1,08,84,898
2,10,76,450 VI Premium paid to D.I.C.G.C. 1,55,53,863
VII AMC on:22,45,849 Hardware 27,14,33924,55,804 Software 17,19,70013,61,293 Others (Sch 2) 11,97,470 56,31,509
VIII Amortisation of Premium3,64,292 on HTM Securities 4,32,131
1,59,86,662 IX Depreciation 1,02,03,250
X Establishment Expenses6,97,928 Legal Charges & Expenses 6,76,6105,61,678 Subscription & Periodicals 5,66,2351,91,192 Advertisement & Publicity(sch 3) 2,10,454
19,55,033 Consultancy Charges 16,43,3001,30,65,496 ATM Expenses 55,07,918
14,06,254 Serv.Ch. On Consortium Adv. 4,87,67861,81,405 General Charges(Sch 4) 61,28,92641,17,956 Postage, Teleph. & Lease Line Ch. 25,15,81919,25,996 Stationery 15,71,38616,32,404 Repairs to Property(Sch 5) 11,21,72138,14,007 GST input unutilised 56,47,490
Auditor’s Remuneration4,00,000 - As auditor 4,32,500
90,000 - Tax matters 0 2,65,10,036
XI Provisions :52,25,494 Standard Assets 28,70,655
3,61,18,467 Bad & Doubtful Debts 7,38,58,019 7,67,28,674Provision for Tax2018-19 1,05,00,0002019-20 5,50,00,000 6,55,00,000
XII Extra Ordinary Items2,63,91,312 VRS Compensation 0
0 XIII Balance of Profit 40,18,95,777
2,19,14,71,698 2,41,86,08,760
SUBJECT TO THE NOTES ATTACHED HERE TO AND FORMING PART OF THE BALANCE SHEET”
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v33
OPERATIVE BANK LTD.BANK)
THE YEAR ENDED 31.03.2020 GOA REGION
CORRESPONDINGFIGURES OF THEPREVIOUS YEAR
31/03/2019
AMOUNTINCOME AMOUNT
Sd/-
U. B. Phal Dessai
CHAIRMAN
I. Interest Received On
1,44,85,18,192 Loans & Advances 1,42,23,30,420
63,81,08,974 Investments 73,52,73,216 2,15,76,03,636
29,42,002 II. Commission & Exchange 15,69,081
38,48,888 III Rent Received 36,80,000
4,69,72,894 IV Service Charges & Processing Fees 4,35,32,992
77,22,423 V Other Receipts(Sch 6) 93,12,924
VI. Profit on
75,70,000 a) Redemption of Govt. Securities 1,38,95,679
1,86,39,813 b) Sale of Govt. Securities 16,21,36,752 17,60,32,431
VII.Excess provision Reversal
0 Bad & doubtfull debts 1,50,67,197
0 Standard Assets 13,10,499 1,63,77,696
0 VIII..Provision for Tax(18-19) 1,05,00,000
(Transfer to Daman & Diu Region)
1,71,48,512 IX..Balance of Loss 0
2,19,14,71,698 2,41,86,08,760
Sd/-
CA : N M SIRSAT
(Proprietor)
M.N.158694
As per our report of even date attachedFor Nandan Sirsat and Associaties
Chartered AccountantsPlace : Mapusa-GoaDate : 10-12-2020
(Amt. in INR)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
34v v
THE GOA STATE CO-(SCHEDULED
BALALNCE SHEET
CAPITAL & LIABILITIES
1. CAPITAL1,25,00,00,000 I. AUTHORISED CAPITAL 1,25,00,00,000
II. ISSUED, SUBSCRIBED & PAID UP7,14,03,100 a. A” class shares held by Cooperative 7,15,23,300
Institutions of ` 100/- / `1000/- each19,96,00,000 b. “B”class shares held by Government 19,96,00,000
of Goa of ` 1000/- / ` 5000/- each.47,28,75,600 c. “C”class shares held by Individuals 50,76,85,400 77,88,08,700
of ` 100/- / ` 1000/- each
8,30,340 2. SHARE APPLICATION MONEY 72,19,340
3. RESERVE FUND AND PROVISIONS4,36,59,570 Statutory Reserve fund 4,36,59,5702,34,59,706 Building Fund 2,34,59,7067,7,13,633 Dividend Equilisation Fund 77,13,63345,56,458 Reserves for unforseen losses 45,56,458
1,76,27,842 Agriculture credit stabilsation Fund 1,76,27,8421,03,29,506 Shares Capital Redemption fund. 1,03,29,506
1,48,736 Education Fund & Fees 1,48,7361,56,228 Development Fund VKS Sty. 1,56,228
42,88,51,448 Revaluation Reserve 61,04,48,94028,33,59,275 Reserve for Loss Assets(IIBI) 28,33,59,2751,05,84,189 General Reserve (Sch 1) 1,17,15,9574,84,62,450 Contigent Prov. Against STD Assets 5,00,22,608
38,10,42,458 Provision for Bad & Doubtful Debts 43,98,33,2781,50,56,304 Prov. For Food Consortium 1,50,56,304
82,34,887 Prov. For Fraudulant Cases 82,34,8871,80,585 Prov.for Inter Bank Reconciliation 1,80,585
31,31,368 Capital Reserve 1,10,81,368 1,53,75,84,8814. DEPOSITS & OTHER ACCOUNTSA. FIXED DEPOSITS
8,08,78,24,494 I. SOCIETIES: 7,19,29,42,15320,86,01,700 II. LOCAL BODIES: 21,72,46,878
3,78,74,18,391 III. INDIVIDUALS: 3,53,23,95,703 10,94,25,84,7348,72,72,058 B MONTHLY RECURRING DEPOSITS 9,07,81,1932,76,34,356 C. PIGMY DEPOSITS 2,19,75,753
D. OTHER DEPOSITS2,74,560 SECURITY DEPOSITS 2,91,998
72,65,01,291 MATURED DEPOSITS 1,31,62,98,194 1,31,65,90,193
E. SAVING BANK DEPOSITS:1,38,93,86,391 Societies 1,56,61,02,126
49,57,69,830 Local Bodies. 48,64,01,7963,97,20,88,620 Individuals 3,85,97,64,434
1,42,857 N.R.I./N.R.E. 0 5,91,22,68,355
F. CURRENT DEPOSITS:17,96,50,263 Societies 22,21,98,396
(out of which from urban Coop.Banks -68,43,176 Local Bodies. 1,42,40,193
11,23,30,530 Individuals 10,03,32,7926,89,760 Pigmy Deposit Collection a/c. 1,46,110 33,69,17,491
Corresponding Figures ofthe Previous Year
31/03/2019AMOUNT AMOUNT
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v35
OPERATIVE BANK LTD.BANK)
AS ON 31.03.2020 - GOA REGION
PROPERTIES & ASSETSCorresponding Figures of
the Previous Year31/03/2019
AMOUNT AMOUNT
1. CASH.77,49,59,221 With Reserve Bank of India 76,41,59,2214,59,86,254 In hand 6,47,90,996
48,28,200 In ATMs 63,82,000 83,53,32,217
2. BALANCES WITH OTHER BANKS74,32,579 Current A/c with SBI & other Nationalised Banks 1,08,69,153
44,17,09,412 Current A/c with other Banks. 47,54,28,971538 Current A/c with Coop.Banks. 0 48,62,98,124
2,70,76,71,000 3. TERM DEPOSITS WITH BANKS 2,77,14,51,000
5,00,00,000 4. MONEY AT CALL 0
5. INVESTMENTS:a In Central & State Govt. Securities
Held To Maturity3,67,83,52,697 1. Central Govt. Securities 2,08,61,69,622
Face Value ` 2,13,30,50,000Book Value ` 2,08,61,69,622
1,59,06,48,114 2. State Govt. Securities 2,69,61,13,084Face Value ` 2,68,39,00,000Book Value ` 2,69,61,13,084
5,02,100 b. Shares of Coop. Institution. 5,02,100 4,78,27,84,806
6. ADVANCES1,67,79,68,990 I. SHORT TERM LOANS 1,14,69,16,391
3,96,61,39,134 II. MEDIUM TERM LOANS 3,55,36,30,337
7,64,97,13,859 III. LONG TERM LOANS 8,55,72,20,903 13,25,77,67,631
7. INTEREST RECEIVABLE ON13,31,37,720 Loans & Advances 12,51,64,4847,63,80,863 Investments 14,53,66,3006,82,82,161 Bank Deposits 4,20,22,951 31,25,53,734
8. FIXED ASSETS LESS DEPRECIATION29,75,000 Land 29,75,000
3,22,58,756 Premises 2,84,73,61042,88,51,448 Premises A/c(Revaluation) 61,04,48,9402,85,49,639 Others (Sch 5) 2,46,20,475 66,65,18,025
9. OTHER ASSETS:3,18,19,921 Sundry Debtors 3,14,49,583
5,71,028 Comm. & Exchange Rec. 5,72,30966,807 Library Books 71,977
26,15,902 Stock of Stationery 23,34,8852,56,433 Telephone connection deposits 2,56,433
(Amt. in INR)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
36v v
THE GOA STATE CO-(SCHEDULED
BALALNCE SHEET
CAPITAL & LIABILITIES
Corresponding Figures ofthe Previous Year
31/03/2019AMOUNT AMOUNT
Sd/-
B. B. Fernandes
GENERAL MANAGER (ACTS)
Sd/-
A. M. Chodankar
MANAGING DIRECTOR(I/C)
Sd/-
P. N. Kurtikar
VICE- CHAIRMAN
SUBJECT TO THE NOTES ATTACHED HERE TO AND FORMING PART OF THE BALANCE SHEET”
84,84,38,673 5. INTEREST PAYABLE 94,41,92,143
5,47,32,520 6. CLEARING ADJUSTMENTS(Sch 2) 5,42,03,749
7. OTHER LIABILITIES3,12,60,022 Sundry Creditors (Sch 3) 3,59,50,8951,85,46,736 Draft & Payorder payable 2,46,76,475
5,73,152 Audit fees payable 2,37,6523,82,500 Consultancy fees Payable 4,72,500
9,215 Branch Adj. for Net debit balance 9,21554,87,920 TDS Payable 42,33,874
35,157 EGSLIS scheme 36,0829,74,977 ABN/Recovery Exe. Fees Payable 9,73,727
16,73,52,710 Subsidy Reserve Fund. 18,49,74,0240 Collection of Electricity/Water Bills 38,590
15,55,200 Loss on Non Banking Assets 15,55,2005,47,000 NFS issuer charge back ac 6,10,643
0 PMJJBY Collection Account 30159,207 Rent Payable 64,802
90,16,551 NFS Issuer A/c 45,08,2979,90,556 Security Deposit (contractors) 10,26,655
32,49,62,647 Dues payable to staff (Sch 4) 4,13,61,31173,15,377 Earnest Money(EMD) 69,22,47229,96,363 Branch ATM GL AC 8,11,463
100 Sim SE Pay 10046,164 Draft paid witthout advice 46,164
7,91,161 GST Payable 4,41,255.190 Provision for Tax 5,50,00,0000 Deaf Collection Account 23,36,166 36,62,87,863
3,32,33,372 8. OVERDUE INTEREST RESERVE 3,31,14,997
9,09,23,736 9. BRANCH ADJUSTMENT(Net) 7,86,65,417
1,58,11,55,277 10. DAMAN DIU BIFURCATION 1,26,90,12,835
6,21,518 11. BILLS FOR COLLECTION 46,800(Being Bills Receivable as per contra)
3,07,48,714 12. ACCEPTANCES , ENDORSEMENT 2,46,98,074& OTHER OBLIGATIONS ONBEHALF OF CUSTOMERS AS PER CONTRA
24,32,64,48,485 TOTAL RUPEES 23,71,49,52,518
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v37
OPERATIVE BANK LTD.BANK)
AS ON 31.03.2020 - GOA REGION
PROPERTIES & ASSETS
Corresponding Figures ofthe Previous Year
31/03/2019AMOUNT AMOUNT
Sd/-
U. B. Phal Dessai
CHAIRMAN
42,93,751 Festival & Special Advance 36,31,93913,92,609 Security deposit a/c. 14,10,7541,19,824 Subsidy due. 1,19,824
7,724 Cersai registration fee(Equi Mort) 2,45045,713 Security Transaction Tax 45,713
50,91,840 Rent & Water Charges receivable 14,44,32020,435 Electricity & Water Connection Deposits 20,435
7,93,473 Receivable Agaist Fraud Cases 7,93,4732,51,44,424 NFS Settlement A/c 4,53,64,893
45,50,420 DEAF Claim A/c 21,91,97058,84,121 NFS Aquirer A/c 1,20,36,581
6,974 KCC Int. Waiver Receivable 66813,031 Water Charges Receivable 076,043 PAN card coupon amt. receivable 74,855
2,27,44,534 Tax Deducted at Source 2,45,99,3091,15,474 Graha Adhar Settlement 1,15,474
1,05,00,000 Advance Tax 5,50,00,00011,51,936 GST cr availble 8,73,439
4,930 NFS Service Tax Ac 6,54,83110,018 NFS Issuer Charge Back Ac 0
0 NFS Aquire Charge Back Account 34,404Advance to the owner of the premises 1,00,000 18,32,00,516
1,57,31,014 10. CLEARING ADJUSTMENTS (SCh 6) 30,95,175
1,08,55,529 11. NON BANKING ASSETS 82,55,529Acquired in satisfaction of Banks claim
28,33,59,275 12. LOSS ASSETS(IIBI Bonds) 28,33,59,275
6,21,518 13. BILLS RECEIVABLE 46,800(Being bills for collection as per contra)
3,07,48,714 14. ACCEPTANCE ENDORSEMENT 2,46,98,074& OTHER OBLIGATIONS ONBEHALF OF CUSTOMERS AS PER CONTRA
15. PROFIT & LOSS A/C50,14,87,389 As per Last Balance Sheet. 50,14,87,389
Less : Profit for the year ended 31.03.2020 40,18,95,777 9,95,91,612
24,32,64,48,485 TOTAL RUPEES 23,71,49,52,518
Sd/-
CA : N M SIRSAT
(Proprietor)
M.N.158694
As per our report of even date attachedFor Nandan Sirsat and Associaties
Chartered AccountantsPlace : Mapusa-GoaDate : 10-12-2020
(Amt. in INR)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
38v v
THE GOA STATE CO-OPERATIVE BANK LTD.
SCHEDULE 1 SALARY1,17,224 Staff Training & Development 52,305
9,034 Staff L.F.C. Bills 54,69830,000 Hospitalisation 30,000
3,11,103 Travelling & Conveyance 3,12,1871,690 TADA to staff 0
30,31,49,043 Staff salary 31,65,10,6812,23,180 Bonus /Exgratia Paid 4,66,150
9,459 Gratuity 00 Promotion & Recruitment exp 42,3720 Leave Encashment of regular staff 4,425
12,28,870 Ex-gratia 0 31,74,72,818
SCHEDULE 213,61,293 AMC ON OTHERS
6,76,604 H.O.complex maint 6,36,5826,84,689 Security Services 5,60,888 11,97,470
SCHEDULE 31,91,192 ADVERTISEMENT & PUBLICITY1,49,192 Advertisement 2,00,454
42,000 Sponsorship 10,000 2,10,454
SCHEDULE 461,81,405 GENERAL CHARGES
0 Staff Training & Development 14,5208,70,455 Courier Charges 7,28,0668,74,569 Comm. Paid to Pigmy Collectors 7,74,1884,11,083 Vehicle Maintenance 3,64,271
14,77,005 Taxi Charges on Cash remitt. 15,84,5908,11,111 Bank Charges 9,69,857
54,500 Stock Audit Charges 1,03,4312,63,232 Computer Consumables 1,72,162
35,315 Mandatory Advt/Expenses 4,0202,42,057 Water Charges 2,53,260
8,894 Misc. Debit bal written off 01,11,234 NFS Switching Expenses 0
63,300 Shifting charges 00 Election Expenses 34,151
Other expenses 084,983 Customer Refreshment 76,511
5,46,040 SweepingCharges 5,97,5003,27,628 Other Charges 4,52,399 61,28,926
SCHEDULE 5 REPAIRS TO PROPERTY16,32,357 Repairs to Property 11,21,721
47 Loss on sale of dead stock 0 11,21,721SCHEDULE 6
77,22,423 OTHER RECEIPTS0 Enrollment Fees 8,000
2,73,850 Equitable Mortg. Fee 1,89,39016,60,894 Int. Subvention Received 27,43,399
Misc. Receipts20,10,467 Other Receipts 26,14,421
3,00,904 SARFAESI Charges 76,18026,083 Recovery Charges 858
3,18,868 NFS interchange ATM 7,83,87755,730 Profit on sale of Dead Stock 7,917
5,12,244 Input Service Tax Cr. Utilised 3,60,37025,63,383 Safe Deposit Locker Rent 25,28,511 93,12,924
Previous Year
31.03.2019
Current Year31.03.2020
Current Year31.03.2020
Schedules of Profit & Loss Account (Goa Region) 31-March-2020(SCHEDULED BANK)
PARTICULARS
(Amt. in INR)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v39
THE GOA STATE CO-OPERATIVE BANK LTD.
PARTICULARS
SCHEDULE 1
1,05,84,189 GENERAL RESERVE
Opening balance 1,05,84,189
Add:Addition during the Year
Entrance Fees 16,280
Nominal Membership Fees 11,15,488 1,17,15,957
SCHEDULE 2
5,47,32,520 CLEARING ADJUSTMENTS
56,622 Clearing adjustment 89,966
1,250 All Goa Clearing 1,250
2,07,93,715 CTS/Non CTS Clearing payable 1,84,45,453
11,71,599 Inter Branch Transaction 11,71,599
3,21,52,865 CTS clearing Receaivble 3,49,77,261
5,56,469 NACH 7,58,576
0 Less: NON CTS Clg receivable (DR Balance) (12,40,356) 5,42,03,749
SCHEDULE 3
3,12,60,022 SUNDRY CREDITORS
1,21,78,080 Sundry Creditors 1,77,47,319
1,74,16,941 Unclaimed Amounts 1,65,38,576
16,65,000 Sundry Creditor Recovery 16,65,000 3,59,50,895
SCHEDULE 4
32,49,62,647 DUES PAYABLE TO STAFF
4,59,825 Staff LIC premium payable 6,03,314
8,69,105 Dues Payable to Retired Employees 8,34,115
1,00,00,000 PL Encashment on Retirement 79,14,775
31,36,33,717 Staff Gratuty Liability 3,20,09,107 4,13,61,311
SCHEDULE 5
2,85,49,639 OTHER FIXED ASSETS
2,75,36,766 Furniture Fixtures & Computers 2,38,43,195
8,41,838 Vehicle Account 6,40,454
1,71,035 H. O. Plant & Machinery 1,36,827 2,46,20,475
SCHEDULE 6
1,57,31,014 CLEARING ADJUSTMENTS
12,40,356 CTS/Non CTS Clearing 0
7,904 MICR Clearing 7,900
1,44,82,754 ECS Mandate Credit 30,87,275 30,95,175
Previous Year
31/03/2019
Schedules of Balance Sheet (Goa Region) 31-March-2020(SCHEDULED BANK)
Current Year31.03.2020
Current Year31.03.2020
(Amt. in INR)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
40v v
Sd/-
U. B. Phal Dessai
CHAIRMAN
Sd/-
CA : N M SIRSAT
(Proprietor)
M.N.158694
As per our report of even date attachedFor Nandan Sirsat and Associaties
Chartered AccountantsPlace : Mapusa-GoaDate : 10-12-2020
Sd/-
B. B. Fernandes
GENERAL MANAGER
(ACTS)
Sd/-
A. M. Chodankar
MANAGING DIRECTOR (I/C)
Sd/-
P. N. Kurtikar
VICE- CHAIRMAN
The Goa State Co-operative Bank Ltd., Head Office, Panaji-Goa
Cash Flow Statement for the year ended 31 March 2020(` in Lakh)
For the year ended 31.3.2019
A Cash Flow from Operating Activities
Net Cash Profit from Operations
Net profit/(Loss) as per P& L a/c 183.23 4,441.61
Add :
1 Interest paid on Borrowing 0.94 1.81
2 Amortization of premium on securities 3.92 5.00
3 Depreciation 186.14 142.54
4 Loss on Sale of Assets 0.00 0.00
5 Prov on Std Assets 69.95 260.95 42.70 192.05
Less :
6 Profit on Sale of Assets 0.56 0.08
7 Excess Prov Reversed - BDDR 0.00 0.56 179.99 180.07
Net cash Operating profits 443.62 4,453.59
Adjustments: Working Capital
Increase/Decrease in Deposits 16,569.68 (4,212.62)
Increase/(Decrease) in Interest Payable (574.77) 1,194.19
Increase/(Decrease) in Share Appl. Clg Adj, Other
Liab, OIR, Branch Adj 2,632.47 (2,399.65)
Increase in Reserves 373.32 934.05
Increase in BDDR 0.00 0.00
Increase(-)/Decrease(+) in Term deposits with Banks (5,576.39) (2,026.51)
Increase in Investments (2,591.77) 5,676.68
(Increase)/Decrease in Advances (11,227.80) (2,530.99)
(Increase)/Decrease in Interest receivable (292.49) (524.26)
(Increase(/Decrease in Other Assets , Clg Adj 178.03 (727.69)
Decrease/(Increase) in Working Capital (509.72) (4,616.80)
Net Cash Flow from Operations (A) (66.10) (163.21) B Cash Flow from Financing Activities
1 Increase in Share Capital 571.45 504.25
2 Increase/(Decrease) in Borrowing (1,800.00) 0.00
3 Interest paid on Borrowings (0.94) (1.81)
Net Cash flow from Financing Activities (B) (1,229.49) 502.44 C Cash Flow from Investing Activities
1 Purchase of Fixed Assets (41.96) (137.03)
Net Cash Flow from Investing Activities (C) (41.96) (137.03) Net Cash Outflow During the Year (A)+(B)+(C) (1,337.55) 202.20
Opening Cash & Cash Equivalents as on 1.4.19 18,088.98 16,751.45
Closing Cash & Cash Equivalents as on 31.3.20 16,751.43 16,953.65 Cash & Cash Equivalents
Cash in Hand and with RBI 10,861.45 10,917.60
Cash with Other Banks 5,890.01 16,751.46 6,036.07 16,953.67
For the year ended 31.3.2020
Amount Amount Amount Amount Amount Amount
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v41
I. SIGNIFICANT ACCOUNTING POLICIES1. BASIS OF PREPARATION :-
The financial statements have been prepared and presented under the historical cost convention andcomply with generally accepted accounting principles, the statutory requirements prescribed under theBanking Regulation Act 1949 and the Goa State Co- operative Societies Act 2001, circulars andguidelines issued by the Reserve Bank of India (RBI), National Bank for Agriculture and RuralDevelopment (NABARD) from time to time, the Accounting Standards (AS) issued by the Institute ofChartered Accountants of India (ICAI) and the current practices prevailing within the banking industry inIndia, except as otherwise stated.
2. USE OF ESTIMATES :The preparation of financial statements requires the management to make estimates andassumptions that affect the reported amount of assets, liabilities, expenses, income and disclosure ofcontingent liabilities as at the date of the financial statements. Management believes that theseestimates and assumptions are reasonable and prudent. However, actual results could differ fromestimates. Any revision to accounting estimates is recognized prospectively in current and futureperiods.
3. INVESTMENTS :i. The Bank discloses its investment under the following categories
a) Central and state Government Securities.
b) Bonds of Public Sector Undertakings
c) Shares in Cooperative Institutions
d) Debt Mutual Fund
e) Other Investments
ii. The valuation of investment in these categories has been done as follows.
a) The Govt. Securities are classified into three categories viz, HTM, AFS & HFT. Investments in HTMcategory are carried at acquisition cost. The premium if any paid on acquisition of the investmentsunder this category is amortized over the remaining period of maturity.
b) Investment in AFS and HFT categories are marked to market whereby aggregate appreciation ifany is ignored and depreciation is fully provided for.
iii. Broken period interest in respect of investment is treated as an item of revenue under Profit & Lossaccount.
A PSU Bonds are marked to market and aggregate appreciation is ignored and depreciation is fullyprovided for.
B. Shares in Cooperative Institutions are carried at acquisition cost.
4. ADVANCES :Advances are classified in accordance with the prudential norms prescribed by RBI. Advances are classifiedinto categories viz. standard, sub-standard, doubtful and loss Assets, borrower wise. Advances stated in theBalance Sheet are net of provisions made for Non Performing Assets. Recoveries in advances areappropriated first towards charges, then interest and thereafter towards principal amount.
Provision on advances is made as per IRAC (Income Recognition and Assets Classification) Norms as perRBI guidelines.
The Provision on Standar d Assets made ` 24.27 lakh as per the RBI Prudential Norms, in the opinion ofthe mana gement is not the true loss f or the Bank.5. FIXED ASSET & DEPRECIATION :
Leasehold Lands are stated at cost less amortisation. Vehicles, Furniture & Fixtures & Computers, Plant& Machinery are stated at cost less depreciation.
Land : - land is stated at the acquisition cost.
Premises : - These are stated at revalued amount less depreciation.
Cost includes incidental expenses incurred on acquisition of assets.
NOTES FORMING PART OF THE BALANCE SHEET AND PR OFIT AND LOSSACCOUNT FOR THE YEAR ENDED MARCH 31, 2020.
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
42v v
i. Premises (including revaluation) are depreciated on written down method @ 10 %p.a.
ii. Computers are depreciated on straight line method @ 33.33 % p.a.
iii. Vehicles are depreciated on written down method @ 20 % p.a.
iv. Plant and machinery depreciated on written down method @ 15 % p.a.
v. Furniture & fixture depreciated on written down method @ 10 % p.a.
Depreciation on the fixed assets purchased during the year is charged for the entire year, if the asset ispurchased and retained for 180 days and more or else the same is charged at 50% of the normal rate.
6. REVENUE RECOGNITION:-Income and expenditure are generally accounted on accrual basis, except the following :
a) Interest on Non-performing advances and non performing investments is accounted on realisationas per norms laid down by Reserve Bank of India.
b) Interest on overdue bills, commission (other than Government business), Exchange,Brokerage and rent on lockers are accounted on realization.
c) Dividend is accounted when the right to receive the same is established.
d) In case of suit filed accounts, related legal and other expenses incurred are charged to profit & lossaccount and on recovery the same are accounted as income.
7. DEFINED BENEFIT PLANS:a) GRATUITY: The employee gratuity fund scheme is funded by the Bank and managed by LIC India,
HDFC Life Insurance and Bajaj Allianz Insurance who in turn manages their funds as perguidelines. The Bank meets its Employee Gratuity Fund and Leave Encashment obligations oncash basis by charging the same to P& L A/c in case of balances in funded accounts are insufficientto meet the obligations. However, the bank has met its entire obligation towards the payment ofgratuity to its retired staff during the year. The balance outstanding in these funds invested as on31.03.2020 is ̀ 48,28,84,708/- . In addition, provision of ` 1,47,50,000/- is made during the currentfinancial year. Gratuity amounting to ` 73,36,304/- is paid to the retired staff.
b) Pension: The employees of the bank have been drawing pension from EPFO, which is beingextended to them from out of the accumulation by way of EPF contribution from the Employer'sshares of PF contribution. Employer’s contribution to EPFO is charged to Profit & Loss account.
c) Leave encashment paid was charged to profit & loss Account on cash basis. The bank has nowstarted contributing to Leave Encashment fund with HDFC Life Insurance. The balanceout standing in these account as on 31.03.2020 is ` 6,06,83,053/-. In addition, provision of ` 2.00crore is made during the current financial year
8. NO PROVISION IS RECOGNIZED FOR :a) Any possible obligation that arises from past events and the existence of which will be confirmed
only by the occurrence or non occurrence of one or more uncertain future events not wholly withinthe control of the bank.
b) It is not probable that an outflow of resources embodying economic benefits will be required tosettle the obligation or
c) A reliable estimate of the amount of obligation cannot be made
II. NOTES ATTACHED TO AND FORMING PART OF ACCOUNTS:a) The Bank in compliance to RBI Directives, decided to bifurcate its business into Goa unit & Daman
& Diu Unit as separate institutions as on 01.04.2017. Accordingly, the process of bifurcation hasbeen initiated. As per request submitted by the Bank, the Central Registrar of Cooperative Societ-ies issued order dated 01.04.2016 denotifying the Bank as a Multistate Cooperative Society w.e.f.01.04.2016.
By notification dated 28.07.2017, the Registrar of Cooperative Societies, Goa hasrestored the status of Bank as The Apex Cooperative Bank and maintained the original registrationof the Bank w.e.f. 07.11.1963.
The Bifurcated Goa Unit and Daman & Diu Unit are being managed by separate administrativecommittees of the said units. However, due to non issue of In principal Approval for DDSCB by theRBI, the consolidated Financial Statements are prepared and presented.
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v43
INCOME I. Interest Received 4,344.94 4,512.05
II. Commission & Exchange 9.60 5.98
III. Service Charges & Processing Fees 58.51 52.44
IV. Other Receipts 17.32 18.55
V. Excess Provisions Reversal 90.88 34.64
TOTAL RUPEES 4,521.25 4,623.66EXPENDITURE I. Interest Paid 3,028.26 3,173.23
II. Salaries & Allowances 904.18 558.71
III. Directors Sitting Fees 0.51 0.28
IV. T.A./D.A. of Management 1.31 2.86
V. Rent, Taxes, Insurance & Electricity 15.24 17.39
VI. Premium paid to D.I.C.G.C. 33.34 101.57
VII. AMC 11.14 12.09
VIII. Amortisation of Premium-HTM Sec. 0.28 0.68
IX. Depreciation 26.28 40.51
X. Establishment Expenses 37.46 52.62
XI. Provisions : 108.55 241.08
XII. Balance Of Profit 354.72 422.66
TOTAL RUPEES 4,521.25 4,623.66LIABILITIES I. AUTHORISED CAPITAL 1,000.00 1,000.00
II. Issued, Subscribed & Paid Up 599.54 754.49
III. Share Application Money 8.62 34.67
IV. Reserve Fund And Provisions 1,538.63 1,641.06
V. Deposits & Other Accounts 54,213.75 54,614.20
VI. Interest Payable 3,252.36 3,489.01
VII. Clearing Adjustments 111.04 83.02
VIII. Other Liabilities 389.35 151.04
IX. Overdue Interest Reserve 76.89 76.79
X. Bills For Collection 2.62 4.56
XI. Acceptances , Endorsement 72.22 41.87
TOTAL RUPEES 60,265.02 60,890.70ASSETS I. Cash 2,603.71 2,564.28
II. Balances With Other Banks 1,398.58 1,173.09
III. Term Deposits With Banks 25.00 25.00
IV. Money At Call 5,318.00 7,206.71
V. Investments 8,146.67 7,332.17
VI. Advances 23,769.85 26,661.39
VII. Interest Receivable 818.06 994.79
VIII. Fixed Assets Less Depreciation 709.24 780.95
IX. Other Assets 337.58 346.19
X. Clearing Adjustments 51.15 66.97
XI. Bills Receivable 2.62 4.56
XII. Branch Adjustment 704.79 929.30
XIII. Daman Diu Bifurcation 15,811.55 12,690.13
XIV. Acceptance Endorsement 72.22 41.87
XV. Profit & Loss A/C 495.98 73.32
TOTAL RUPEES 60,265.02 60,890.70
Particulars 31 March 2019 31 March 2020
(` in Lakh)
b) The bifur cated figures f or the Daman & Diu Region as per Bank’ s financial position of 31.03.2020are as under:-
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
44v v
Loans & Ad vances to Director s
1 Mr. Premanand Chawdikar HCC to IND W/Cl for Liquor business 1.35 Regular
2 M/s. Kudnekar Granites Prop.: MT SSI Expansion of business 12.43 Regular
Mr. Krishna V. Kudnekar
(applicant) Mrs. Kavita K.
Kudnekar (Co-applicant)
3 Mr. Rajesh Kalidas Desai ST CC KCC D/F Maint of Hort Garden 2.98 Regular
4 Mr. Rajesh Kalidas Desai HCC to IND W/C for business 20.16 Regular
(Prop.:Atharava Agrovat
Agencies)
5 Mr. Pandurang Narayan Kurtikar MT Non Agri House Repairs PLS 0.19 Regular
6 Mr. Anant M Chodankar MT Agri. Loan Const. of Poly House 3.20 Regular
(MD-I/C)-
Ex offico Director
7 Mr. Anant M Chodankar Staff Loan Construction of House 5.44 Regular
(MD-I/C)-
Ex offico Director
8 Mr. Anant M Chodankar Urban Loan Consumer Durables 5.83 Regular
(MD-I/C)-
Ex offico Director
Loans & Ad vances to Relatives of Director s
1 Mr. Kunal Ulhas Phaldessai MT Car Loan Purchase of Car. 4.55 Regular
2 Mr. Subhash U. Fal Desai MT Dairy Purchase of Animals 1.96 Regular
3 Mr. Subhash U. Fal Desai MT Dairy Purchase of Animals 1.95 Regular
4 Mr. Subhash U. Fal Desai MT Dairy Purchase of Animals 4.23 Regular
5 Mr. Vishnu P Naik ST CC KCC W/C to Dairy business 0.90 Regular
6 Mr. Chandrashekhar Narayan LT Hsg. Housing Loan 1.61 Regular
Kurtikar Loan(Gharkul)
7 Mrs. Premabhai Chodankar MT Agri. Loan Construction of Poly 4.40 Regular
House
71.18
c) Under normal business transaction, the Bank has sanctioned loans to the directors and their relatives,the
details of which are annexed here below.
Advances to director s, their relatives, companies/firms in whic h the y are interested :
Amount
O/S as on
31.03.2020RMKNature of Facilities
Type of LoanParticularSr.
No.
(` in Lakh)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v45
d) The system of reconciliation on day to day basis before generating day end report is introduced.
Rigorous steps are taken to reconcile all pending entries. Special team is put in place to reconcile
pending entries. As on 31st March 2020, an amount of ` 142.65 lakh under assets remained to be
reconciled.
The age-wise c lassification of the pending entries under branc hes adjustment account as on31st March 2020 is summariz ed belo w.
No. of DebitEntries
Amount ofDebit
No. of CreditEntries
Amount ofCredit
TimePeriod
Up to to 3 months 100 126.33 104 157.54
3 to 6 months 83 91.80 75 128.35
6 months to 1 year 160 542.89 156 131.08
1year to 3 years 186 198.75 184 394.94
3 years to 5 years 48 2.11 30 1.35
Above 5 years 201 13.70 190 19.67
TOTAL 778 975.58 739 832.93
Net – Debit- Balance 142.65
e) The contingent liability on account of Bank guarantees issued are ` 2.89 crore.
f) Previous year's figures have been regrouped or rearranged, wherever necessary and are stated in
bracket.
III. COMPLIANCE WITH THE ACCOUNTING STANDARDS AND OTHER LEGAL REQ UIREMENTS:
a) No payment is made to relatives as specified under accounting standard-18 issued by the Institute of
Chartered Accountants of India (ICAI). The Staff member related to one of the Directors of the Board of
the Bank is shown here below.
There are no specific directions/guidelines from the Reserve Bank of India and Registrar of cooperative
Societies, in respect of disclosure to be made for segment reporting as required under accounting
standard-17 issued by the Institute of Chartered Accountants of India. The entire operation of the bank is
one composite banking business not liable to different risks and rewards. Consequently in the opinion of
the bank, accounting standard issued by the Institute of Chartered Accountants of India (ICAI) is not
applicable.
c) The Bank has ascertained that there is no material impairment of any of its assets and as such no
provision under accounting standard 28 issued by the Institute of Chartered Accountants of India (ICAI)
is required.
1 Mrs. Rajeshree R. Naik Wife Employment in the Bank (Salary) 10.67
Sr.
No.Name of the related
party
Relationship
with
DirectorNature of transactions
Amount of
Transaction
per Annum
`
(` in Lakh)
(` in Lakh)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
46v v
1 Capital to Risk Asset Ratio 4.35% 7.31%
a) Tier I 2.48% 5.15%
b) Tier II 1.86% 2.16%
2 Movement of CRAR
a) Tier I 3927.37 9054.98
b) Tier II 2948.17 3789.63
3 Investments:-
SLR:-
a) Book Value of Investments 60836.68 55155.00
b) Face Value of Investment 61932.90 55669.50
c) Market Value of Investments ---- ----
Non SLR:-
a) Book Value of Investments ---- ----
b) Face Value of Investment ---- ----
c) Market Value of Investments ---- ----
4 Advances against Real Estate, Construction business, housing 30134.83 22492.10
5 Advances against shares & debentures ---- ----
6 Advances to directors, their relatives, companies/firms in which
they are interested:
a) a) Fund -based 64.26 71.18
b) b) Non-fund –based (Guarantees, L/C etc.) ---- -----
7 Cost of Deposit – Average cost of deposit 6.41 6.55
8 NPAs:
a) Gross NPAs 13409.38 16432.43
b) Net NPAs 8479.92 10749.70
c) % of Gross NPAs to total Advances 8.56% 10.32%
d) % of Net NPAs to total Advances 5.41% 6.75%
9 Movement of NPAs
a) Gross NPAs
Opening Balance 11465.23 13409.38
Add.: Addition during the year 4222.91 4853.97
Less : Reduction during the year 2278.76 1830.92
Closing Balance 13409.38 16432.43
Disclosure of various information as required by RBI vide their
Circular No.RBI/2005- 06/178. RPCD.CO.R.F.B.C.No. 44/07.38-03/2005-06 dt.10.10.2005.
As on
31.03.2019 31.03.2020 Particular s
Sr.No.
(` in Lakh)
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v47
As on
31.03.2019 31.03.2020 Particular s
Sr.No.
b) Net NPAs
Opening Balance 6921.80 8479.92
Add.: Addition during the year 3589.80 3920.71
Less : Reduction during the year 2031.68 1650.93
Closing Balance 8479.92 10749.70
10 Profitability:
a) Interest Income as a percentage of working funds 8.29% 9.18%
b) Non-Interest income as a percentage of working funds 0.34% 1.00%
c) Operating profit as a percentage of working fund 1.41% 1.91%
d) Return on Assets 0.07% 1.55%
e) Business (Deposits + Advances) per employee 750.93 762.16
f) Profit per employee 0.34 8.46
11 Provisions
a) Provision on NPAs required to be made 4566.32 5227.50
b) Provision on NPAs actually made 4574.46 5274.79
c) Provision required to be made in respect of overdue interest taken
into income account, provident fund, arrears in reconciliation of
inter-branch account etc. 409.22 407.94
d) Provision actually made in respect of overdue interest taken into
income account, provident fund and arrears in reconciliation of
inter-branch account 409.22 407.94
e) Provision required to be made on depreciation in investments. ---- ----
f) Provision actually made on depreciation in investments. ---- ----
12 Movement in provisions:
a) Towards NPAs 4574.46 5274.79
b) Towards depreciation on investments ---- ----
c) Towards Standard assets 566.72 590.99
13 Foreign currency assets & liabilities ( if applicable) ---- ----
14 Insurance premium paid to DICGC during the year with S.T/GST 288.05 303.39
Sd/-
U. B. Phal Dessai
CHAIRMAN
Sd/-
B. B. Fernandes
GENERAL MANAGER
(ACTS)
Sd/-
A. M. Chodankar
MANAGING DIRECTOR (I/C)
Sd/-
P. N. Kurtikar
VICE- CHAIRMAN
(` in Lakh)
Sd/-
CA : N M SIRSAT
(Proprietor)
M.N.158694
As per our report of even date attachedFor Nandan Sirsat and Associaties
Chartered AccountantsPlace : Mapusa-GoaDate : 10-12-2020
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
48v v
BUDGET FOR THE YEAR 2019-20 WITH ACTUAL & PROPOSED BUDGET FOR 2020-21 & 2021-22
THE GOA STATE CO-OP BANK LTD.(Scheduled Bank)
Head Office , Panaji- Goa
I. INCOME
1 Interest on loans & Advances. 15933.70 14223.30 17040.52 15029.34
2 Interest on Investment & Call deposit 7019.20 7352.73 7370.16 7565.71
3 Commission & Exchange. 32.36 15.69 33.98 11.08
4 Other Receipts. 583.39 501.03 612.55 479.73
5 Rent Received a/c 37.00 36.80 37.00 36.72
6 Profit on Redemption/ sale of Securities 588.31 1760.32 702.73 1660.32
7 Int Subvention received 18.26 27.43 19.17 29.63
8 Divident received 0.15 0.00 0.15 0.00
9 Reversal of provision on BDDR/STD 0.00 163.78 185.54 155.74
10 Gratuity provision reversed 0.00 232.83 0.00 0.00
Total 24212.37 24313.91 26001.80 24968.27
II EXPENDITURE
A. Interest Paid on Deposit 14951.10 13887.62 15698.66 14134.31
Total (A) 14951.10 13887.62 15698.66 14134.31
B. Managerial Expenses
1 Salaries & Allowance 3702.19 4024.77 3792.30 4590.60
2 Sitting fees paid to directors 1.33 2.62 1.40 2.44
3 Rent, Taxes, Insurance & Lighting 134.12 108.85 140.83 153.18
4 Insurance on D.I.C.G. 231.84 155.54 243.43 258.57
5 Legal Fees & Expenses 7.68 6.77 8.06 11.94
6 Postage, Telegraph & telephone Charges 0.19 7.29 0.20 1.90
7 Stationery & printing 21.19 15.71 22.25 14.47
8 Depreciation & Repairs to Property 149.76 102.03 127.30 90.51
9 Commission paid to pigmy Collectors 9.63 7.74 10.11 3.60
10 TADA expenses of Mngt 0.31 1.34 0.32 1.28
11 TADA expenses of staff 0.02 0.00 0.02 0.00
12 Courier Charges(Tapal) 0.00 7.28 0.00 9.62
Sr.
No. PARTICULARS
(` in Lakhs)
Budget for
2019-2020
Actuals as
on
31.03.2020
Proposed
Budget for
2020-2021
Proposed
Budget for
2021-2022
GOA REGION
THE GOA STATE CO-OP. BANK LTD.57th ANNUAL REPORT 2019-20
v v49
13 Provision on BDDR/STD 325.35 767.29 60.35 766.30
14 Subscription and periodical 6.18 5.66 6.49 9.24
15 Advertisement & publicity 2.10 2.10 2.21 2.24
16 Mandatory Advt/Expenses 0.39 0.04 0.40 0.04
17 Branch Renovation 25.00 11.22 100.00 50.00
18 Technology upgradation 0.00 0.00 100.00 200.00
19 Staff Welfare expenses 1.29 0.67 1.35 0.67
20 ADM charges on PF 17.36 15.40 18.23 17.45
21 Professional & consultancy 21.51 16.43 22.58 18.60
22 Stock Audit Charges 0.61 1.03 0.64 1.03
23 Agriculture Credit Stab Fund 0.00 0.00 0.00 25.00
24 Audit fees payable 5.39 4.33 5.66 5.00
25 Bonus to Staff 2.45 4.66 0.00 4.66
26 Motor Vehicle Expenses 4.53 3.64 4.76 4.00
27 Other Expenses 52.87 42.40 55.51 62.85
28 Computer maintenance/Xerox 59.25 49.95 62.21 20.96
29 H O complex maintenance 7.45 6.37 7.82 12.34
30 Amortisation of HTM securities 4.00 4.32 4.20 5.68
31 Lease Line Charges 30.00 17.96 30.00 30.00
32 ATM expenses 25.00 55.08 30.00 67.54
33 Service Charges Paid 15.47 4.88 16.24 5.00
34 Taxes/GST Paid 41.95 56.47 44.05 88.52
Total (B) 4906.41 5509.84 4918.92 6535.22
Total of (A) + (B) 19857.51 19397.46 20617.58 20669.53
OPERATING PROFIT 4354.86 4916.45 5384.22 4298.75
Provision for:
a) Group Grat Sch Prem EDL & GSL
Scheme premium 600.00 147.50 700.00 400.00
b) Leave Encashment 200.00 200.00 300.00 750.00
d) Provision for tax 0 550.00 0 500.00
Total 800.00 897.50 1000.00 1650.00 NET PROFIT 3554.86 4018.95 4384.22 2648.75
Sr.
No. PARTICULARS
Budget for
2019-2020
Actuals as
on
31.03.2020
Proposed
Budget for
2020-2021
Proposed
Budget for
2021-2022
TH
E G
OA
ST
AT
E C
O-O
P. B
AN
K L
TD
.57
th A
NN
UA
L R
EPO
RT 2
019-2
0
50
vv
Sr.
No.
Branch
CodeOfficers Clerical
Sub-
Staff
Overall Performance of the Branches for the Year Ended : 31-March-2020
Branch
Name As on
31.03.2019
DEPOSITS
As on
31.03.2020
Growth
% As on
31.03.2019
ADVANCES
As on
31.03.2020
Growth
%
PROFIT & LOSS
For the year
ended
31.03.2019
For the year
ended
31.03.2020
STAFF POSITION
1 1 HO 0.05 0.05 0.00 8848.43 3475.52 (60.72) (3599.24) 939.27 39 39 16
2 2 Taleigao 1244.80 1221.67 (1.86) 1395.74 1476.55 5.79 48.96 53.14 1 2 1
3 3 Panjim 5199.54 5169.54 (0.58) 4218.40 4392.66 4.13 144.13 174.28 2 6 2
4 4 Mapusa Mkt 1592.25 1493.09 (6.23) 1705.82 1775.02 4.06 57.45 65.33 0 3 1
5 5 Ponda 32849.75 29551.35 (10.04) 8283.35 8275.34 (0.10) 72.69 (120.21) 3 13 3
6 6 Margao 8540.25 8702.41 1.90 3581.20 4003.53 11.79 (1.28) 32.57 2 7 2
7 7 Pedne 6679.78 6638.80 (0.61) 2717.37 2875.74 5.83 119.05 125.56 2 5 1
8 8 Bicholim 7449.00 7879.06 5.77 6304.28 6472.85 2.67 260.47 227.37 3 7 2
9 9 Sankhali 4749.03 4441.53 (6.48) 2626.16 2689.03 2.39 111.51 89.75 2 4 1
10 10 Valpoi 5892.13 5733.27 (2.70) 5951.56 6192.49 4.05 292.13 314.09 3 6 2
11 11 Pale 2680.54 2705.24 0.92 1233.89 1309.88 6.16 7.39 7.42 1 3 1
12 12 D’ Nagar 1030.74 981.72 (4.76) 3959.32 3307.21 (16.47) 177.82 140.12 1 4 0
13 13 Loliem 960.46 1046.06 8.91 947.18 842.50 (11.05) 22.96 16.31 0 3 0
14 14 Canacona 3015.87 3031.01 0.50 1517.35 1653.75 8.99 58.72 58.91 1 5 1
15 15 Curchorem 4960.41 4958.20 (0.04) 2828.80 2929.76 3.57 96.38 79.56 2 6 2
16 16 Sanguem 3430.03 3676.36 7.18 2311.31 2389.10 3.37 81.14 78.64 2 5 1
17 17 Vasco 2559.93 3359.03 31.22 3083.40 2906.25 (5.75) 34.91 (2.70) 2 4 1
18 24 Adpai-Durbhat 1212.84 1198.13 (1.21) 764.37 951.94 24.54 20.92 16.09 1 2 1
19 26 Curti 2770.41 2935.94 5.97 2617.18 3028.64 15.72 65.19 88.27 2 5 3
20 27 Korgao 2022.93 2083.19 2.98 1160.97 1214.15 4.58 53.36 57.41 1 3 1
21 28 KTC 1780.03 1561.98 (12.25) 3208.82 3599.33 12.17 97.76 87.91 2 3 1
22 30 Rivona 1453.95 1458.36 0.30 558.08 659.56 18.18 7.72 8.70 1 2 1
23 32 H O Branch 7921.62 7358.21 (7.11) 7128.20 7149.27 0.30 178.59 63.06 3 6 3
GOA REGION
TH
E G
OA
ST
AT
E C
O-O
P. B
AN
K L
TD
.57
th A
NN
UA
L R
EPO
RT 2
019-2
0
vv
51
Sr.
No.
Branch
CodeBranch
Name As on
31.03.2019
DEPOSITS
As on
31.03.2020
Growth
% As on
31.03.2019
ADVANCES
As on
31.03.2020
24 33 Keri 1184.57 1322.33 11.63 567.96 709.48 24.92 7.08 10.15 1 2 1
25 34 Pirna 1761.62 1770.38 0.50 1675.30 1724.02 2.91 77.13 80.77 1 2 1
26 35 Tisk-Usgao 2608.28 2348.41 (9.96) 1152.38 1234.72 7.15 42.09 25.10 1 4 1
27 36 Marcel 6139.06 6107.86 (0.51) 3552.21 3675.78 3.48 147.27 148.08 2 6 2
28 37 New-Vaddem 2723.80 2417.92 (11.23) 476.68 654.22 37.25 11.11 19.86 1 3 1
29 38 Bethora 2206.74 2753.64 24.78 1203.70 1393.38 15.76 (10.89) 10.61 1 3 1
30 39 Cortalim 3042.52 2700.97 (11.23) 2047.35 1871.39 (8.59) 70.96 65.40 1 3 1
31 40 Quepem 3053.65 2498.86 (18.17) 1938.01 1778.56 (8.23) 62.22 78.70 1 5 1
32 41 Shiroda 2751.55 3004.81 9.20 1004.32 924.14 (7.98) 9.08 10.47 1 4 1
33 42 I.D.C. Mapusa 1076.10 996.92 (7.36) 1313.83 1473.21 12.13 29.84 47.64 1 2 0
34 43 Nagzar 1878.35 1810.98 (3.59) 2114.37 2221.68 5.08 100.27 114.08 1 3 1
35 44 Mandrem 1807.87 1929.51 6.73 2064.02 2269.53 9.96 89.44 84.89 1 3 1
36 46 Cuncolim 1980.15 2169.91 9.58 1540.24 1870.24 21.43 34.15 50.13 1 4 1
37 47 Cansaulim 1338.64 1157.24 (13.55) 1167.65 1179.45 1.01 (72.45) (109.90) 1 4 1
38 48 Headland Sada 1533.75 1628.80 6.20 1469.44 1561.44 6.26 33.09 51.89 1 3 1
39 51 Gawane 813.22 878.20 7.99 1183.92 1126.63 (4.84) 36.01 29.99 1 1 1
40 52 Moira 1542.56 1374.38 (10.90) 1456.13 1608.54 10.47 39.81 55.99 1 2 1
41 53 Verem 1230.46 1187.07 (3.53) 1361.75 1358.21 (0.26) 51.98 45.92 1 2 1
42 54 Aquem 2460.17 2281.82 (7.25) 3376.53 3726.47 10.36 162.44 98.40 2 5 2
43 55 Borda 2913.30 2833.40 (2.74) 2265.40 2262.00 (0.15) 51.85 (71.61) 2 6 1
44 56 A & R D 293.77 284.07 (3.30) 1191.84 1166.47 (2.13) 2.79 (3.02) 1 1 1
45 57 Caranzalem 2319.59 2062.38 (11.09) 1339.08 1449.37 8.24 34.20 54.23 1 2 1
46 59 Calangute 5559.41 5250.19 (5.56) 1231.95 1228.83 (0.25) 2.21 0.66 2 4 1
Officers ClericalSub-
Staff
Growth
%
PROFIT & LOSS
For the year
ended
31.03.2019
For the year
ended
31.03.2020
STAFF POSITION
GOA REGION
TH
E G
OA
ST
AT
E C
O-O
P. B
AN
K L
TD
.57
th A
NN
UA
L R
EPO
RT 2
019-2
0
52
vv
Sr.
No.
Branch
CodeOfficers Clerical
Sub-
Staff
Branch
Name As on
31.03.2019
DEPOSITS
As on
31.03.2020
Growth
% As on
31.03.2019
ADVANCES
As on
31.03.2020
Growth
%
PROFIT & LOSS
For the year
ended
31.03.2019
For the year
ended
31.03.2020
STAFF POSITION
GOA REGION
47 60 Mundvel 2828.87 2383.37 (15.75) 3128.40 3190.99 2.00 112.85 121.90 1 4 2
48 61 Merces 1324.22 1126.44 (14.94) 1359.03 1455.63 7.11 47.62 53.20 1 2 1
49 62 Honda 1791.22 2003.36 11.84 1781.20 1993.59 11.92 76.70 82.39 1 3 1
50 64 Mapusa Main 14264.10 13679.35 (4.10) 4068.64 3976.46 (2.27) 1.80 43.43 2 7 1
51 69 Upper Bazar 2933.47 3351.33 14.24 1123.22 1467.68 30.67 (9.00) 6.23 1 3 1
52 71 Paryem 2608.23 2614.31 0.23 3094.41 3447.44 11.41 122.36 139.50 1 3 1
53 73 Service 0.00 0.00 0.00 0.00 (66.34) (71.02) 4 3 1
54 75 Arambol 1426.55 1530.24 7.27 1431.03 1438.30 0.51 54.65 51.91 1 3 1
55 76 Assonora 999.94 891.84 (10.81) 2246.85 2490.17 10.83 58.98 76.64 1 2 1
56 77 Siolim 432.20 676.68 56.57 1060.20 1079.59 1.83 8.48 15.49 1 2 1
Sub-Total (A) 190824.27 186211.17 132938.22 132577.68 (171.49) 4018.95 117 249 82
DAMAN & DIU REGION
1 99 HO 0.00 0.00 0.00 0.00 (769.20) (697.89) 6 2 5
2 18 Moti Daman 4621.04 4720.56 2.15 1169.86 1113.15 (4.85) 39.91 45.43 0 4 1
3 19 Nani Daman 15836.60 15463.99 (2.35) 6580.60 8367.49 27.15 335.41 452.43 1 7 4
4 20 Diu 11047.13 11617.45 5.16 6128.64 5884.28 (3.99) 330.33 236.86 4 4 3
5 21 Vanakbara 3788.10 4008.67 5.82 2490.98 2568.38 3.11 115.25 101.93 1 5 1
6 22 Ghoghla 5786.43 6153.33 6.34 1071.33 1047.19 (2.25) (12.51) (0.38) 1 3 2
7 23 Somnath 3259.41 2877.44 (11.72) 1544.71 1629.26 5.47 111.69 99.55 2 2 2
8 25 Bhimpore 4652.37 4260.23 (8.43) 2493.89 2848.11 14.20 110.04 83.24 1 4 1
9 31 Fudam 4044.81 4386.45 8.45 1591.98 2385.17 49.82 58.79 75.09 1 3 0
10 72 Kachigam 1177.83 1126.09 (4.39) 697.86 818.35 17.27 35.01 26.40 2 4 1
Sub-Total (B) 54213.72 54614.21 23769.85 26661.38 354.72 422.66 19 38 20
TOTAL (A + B) 245037.99 240825.38 156708.07 159239.06 183.23 4441.61 136 287 102