Tjsb Annual Report-2012

7/31/2019 Tjsb Annual Report-2012

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1. SHRI V.A. VAISHAMPAYAN M.TECH (PRODUCTION) CHAIRMAN

CHARTERED ENGINEER

2. SHRI B.V. DATE B.Sc., DIPLOMA TECH (PAINTS) VICE-CHAIRMAN

3. MRS. A.R. APTE B.Sc., LLB DIRECTOR

4. SHRI R.K. AGARWAL B.Sc. DIRECTOR

5. MRS. P.B. IYER B.Com., ACA DIRECTOR

6. SHRI R.K. KANANI Diploma in Mechanical Engineering DIRECTOR

7. SHRI M.D. KHUTADE DIRECTOR

8. SHRI N.D. MANDGE M.Sc., DHE DIRECTOR

9. SHRI C.N. MENON B.A., BGL DIRECTOR

10. SHRI V.M. PATKI M.Com., LLB, AICWA, FCA DIRECTOR

11. SHRI P.D. THAKUR B.Com., LLB DIRECTOR

12. SHRI VINODKUMAR BANSAL FCA CO-OPTED DIRECTOR

13. SHRI S.R. UTEKAR B.Com., LLB, CAIIB-I CHIEF EXECUTIVE OFFICER

BOARD OF DIRECTORS

1. Shri S.P. Sathe B.Com., CAIIB,ICWA, CS GENERAL MANAGER

2. Shri S.B. Nagwekar M.Com., DBM, CS GENERAL MANAGER

3. Shri S.V. Pathak B.Com., CAIIB,BGL, CFA-Inter DY. GENERAL MANAGER

4. Shri V.R. Namjoshi B.Com., CAIIB DY.GENERAL MANAGER

5. Shri S.V.Mhaskar M.Com., LLB,CAIIB DY. GENERAL MANAGER6. Shri S.H. Koranne B.Com., LLB, CAIIB DY. GENERAL MANAGER

7. Shri S.B. Purohit B.Com., CAIIB, DTIRM DY. GENERAL MANAGER

8. Shri G.A. Gangal B.Com., JAIIB DY. GENERAL MANAGER

9. Shri N.N. Arekar B.Com., JAIIB DY. GENERAL MANAGER

10. Shri D.D. Velankar B.Com. ASST. GENERAL MANAGER

11. Shri H.N. Kulkarni B.Com. ASST. GENERAL MANAGER

12. Shri V.G. Navare B.Com., CAIIB ASST. GENERAL MANAGER

13. Shri S.M. Mayekar B.Com., CAIIB ASST. GENERAL MANAGER

14. Shri S. L. Jambhale B.E.(IT) ASST. GENERAL MANAGER

15. Shri V. C. Mudgerikar B.E. (MECH.), PGDM, CISA, CIA, ASST. GENERAL MANAGER

ISO27000LA

SENIOR EXECUTIVES

Registered Office:

TJSB House, Plot No. B-5, Road No.2, Behind Aplab

Ltd., Wagle Industrial Estate, Thane (W) 400 604

25878500 - 25878650Phone Fax

Statutory Auditors

Joshi & Karandikar

Chartered Accountatnts

Website: E-mail:www.tjsb.co.in [email protected]

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markets.However, conditions eased in Q4 of 2011-12reflectinga pick up in capital inflows as well as the impact of policymeasures undertaken by RBI to improve dollar supply and

containspeculation.

The fiscal deficit of the Central Government has remained

elevated since 2008-09. The fiscal slippage in 2011-12 wasalsosignificantly high. Even though the Union Budget envisages a

reduction in the fiscal deficit in 2012-13, several upside risks tothe budgeted fiscal deficit remain. In particular, containment ofnon-planexpenditure within the budget estimates for 2012-13 is

contingent upon the Government's ability to adhere to itscommitment of capping subsidies. Going by the recent burden-

sharing arrangements with the oil marketing companies(OMCs), the budget estimate of compensation for under-recoveries of OMCs at the present level of international crude

prices is likely to fall significantly short of the required amount.Any slippage in the fiscal deficit will have implications for

inflation and Government's borrowing programme. The

budgeted net market borrowings for 2012-13 are 4.8 trillion,even higher than the expanded borrowings of 4.4 trillion lastyear.

Against this backdrop, the RBI announced following measures

in itsmonetarypolicy whichwere intended to adjustpolicy ratesto levels consistent with the current growth moderation, guardagainst risks of demand-led inflationary pressures re-emerging

and to provide a greater liquidity cushion to the financialsystem.

Reducedreporatefrom8.5%to8%.Reverse repo rate standsadjusted to7%.Marginalstandingfacility ratestandsadjustedto 9%.

Marginal standing facility limit raised to 2% of Net Demandand Time Liabilities (NDTL) in order to provide greater

liquiditycushion.

I am happy to mention that your Bank recorded all roundimprovement in its performance during the year. While yourBank's business mix touched 7000 crores and its current and

saving (CASA) deposits also crossed a milestone of 1150crores during 2011-12 and the net profit of your Bank surged to

reach to 60.09crores.

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Performance Highlights of the Bank for the financial year

2011- 12:

Financial Highlights:

Deposits:

Advances:

Treasury:

Despite the competitive environment, the Bank registergrowth of 25% in deposits to reach 4344.97 crores. The ra

of CASA deposits to total deposits stood at 27.12 % as 31.03.2012. The cost of deposit worked out to 7.09% main

due to high interest rate regime throughout the financial yeThecomposition of deposit isgiven below:

The advances portfolio recorded an increase of 648.31 cror

at the growth rate of 32.55%. Our Bank focused on creati

balance credit portfolio by also having thrust on creating retassets to spread risk. The Credit Deposit ratio stood at 60.76whichwas57.38% at thebeginningof theyear.Thecompositiofadvancesisgivenbelow:

In thebeginning of theyearthe creditoff take waslow andhenit was a great challenge to improve Credit Deposit ratio w

quality assets. During the year your Board of Directors fram

certain marketing policies with documenting due diligennorms, which fetched good results in managing deploymentcreditportfolio.

It is important tonote that Bank'sGrossNPAremained at2.63

which isa clear indicationofquality ofassets increditportfoli

Yourbank hasadhered to adequateCRR& SLRrequirements

stipulated by RBI during financial year 2011-12. Similaryour bank has also maintained non SLR investment within t

prescribed limit set by RBI. The bank has specified credit ratinorms for investments under non-SLR segment which a

strictlyadheredto.

Keeping in view the RBI guidelines, the bank hascomprehensive Investment policy and ALM policy in order

ensure consistency across businessactivities.

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Type of Facility

Term Loans

CC/OD/IBP/OBD

Total

( ìn Cror

2010-11 % 2011-12 %

1253.43

738.44

1991.87

62.93

37.07

100.00

1483.51

1156.67

2640.18

56.19

43.81

100.00

Gross NPA 68.12 3.42 69.53 2.63

Net NPA 0 - 0 -

Total Advances 1991.87 2640.18

Particulars

n Cror( ì

2010-11 % 2011-12 %

Particulars 31.03.2011 31.03.2012 % Increase/ Decrease

Business Mix

Deposits

Advances

Gross Profit

Net Profit

Owned Funds

Gross N.P.A.

Net N.P.A

C.R.A.R

5463.45

3471.58

1991.87

89.66

49.58

428.98

3.42%

0

15.64%

6985.15

4344.97

2640.18

104.89

60.09

496.11

2.63%

0

15.03%

27.85%

25.16%

32.55%

16.99%

21.20%

15.65%

(0.79%)

-

(0.61%)

( ìn Crores)

Type of Deposits

Current

Savings

Term

Total

( ìn Cror

2010-11 % 2011-12 %

242.02

882.78

2346.78

3471.58

6.97

25.43

67.60

100.00

261.27

917.05

3166.65

4344.97

6.02

21.11

72.88

100.00

1241st Annual Report


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YourBankcontinuesto have investment policy in placewhich isreviewedcontinuously in accordance with the guidelines issued

by the Reserve Bank of India from time to time. Your Bank hastaken the Negotiated Dealing System (NDS), NDS Call & NDSOrder Matching, NDS Primary Auction Software and

CBLO/CROMS Software to place and settle all deals on the

ElectronicSystem.

Your Bank already has in place the system of internal audit of

investment and treasury transactions on quarterly basis as pertheRBIGuidelines.

Aggregate investment of your bank as at March 2012 increased

to 2133.06 crores from 1823.36 crores registering a growthof 17% over previous year. The bank has been active and

effectively managing the treasury operations. The interest ratesremained volatile during last financial year. Despite rise in

interest rates,your Bank hasbeenable to contain depreciationtothe minimum to its portfolio by realigning strategies from time

to time.Your bank also grabbed opportunities of theinterestratevolatility to generate more income which resulted in improvingthe yield on investment. The higher return on investment gives

significant positive carryon thecostof deposit whichhelpsyourbank to post higher net interest income.

The International Business Division (IBD) of the bank hasbecome operational from 19 July 2010, after receivingAuthorised Dealer Category 1 Licence from RBI. After

initiation of the activity, this is the first year wherein all theactivities are handled under the licence. During the year under

report IBD has done turnover of 814.02 Crores, from all itscentres. IBD has earned net profit of 3.48 Crores during the

period under report. The interbank dealing turnover during theperiod under report is of around 1000 Crores. The activity ishandled through A Category centre. At A category centre,

along with the Trade Finance activities, Interbank Dealing alsotakes place. The B category centres handle only Trade

Finance activities. The other B category centres are at Nasik,Andheri, Naupada, Thane andPune.All the centres have shown

a remarkable performance during the year and right from theirinception. There are 13 centres working as C category whohandle the money changing business for leisure and business

tour clients. Presently bank is dealing in 6 major currencies viz.

USD, EURO, GBP, JPY, AUD & CHF. Separate Nostroaccounts have been opened with various correspondents. Theoverall correspondent relationship with more than 60 banks

across theworld hasbeen established which enabled thebank tohandle the business effectively for its clients. During the yearunder report, bank has handled all types of forex products viz.

Import L/Cs, Buyer's Credit, Foreign Currency Term Loans,export finance in Foreign Currency. Bank has canvassed more

than 20 Crores in the form of Foreign Currency Non Resident(FCNR) deposits during theyear under report. In thenear futurebank is expected to launch the pre-paid foreign currency

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IBDBusiness:

th

denominated co-branded card in association with Axis BanBank also intends to open some new B category centres

major businesscentres.

Despite the pressures of keen competition and tighter moneta

environment, your Bank earned net profit of 60.09 crorduring 2011-12. Your Bank's Net Profit registered a year-o

yeargrowthof 21.20%.

Your Bank's policy of declaring dividend is to reward thmembers as well as to plough back sufficient profit f

maintaining a healthy Capital Adequacy Ratio and supportinfuture growth. Your Board of Directors is pleased recommend dividend@15% onpro rata fortheyear 2011-12.

Bank had been following the practice of accounting for thappropriation of the profits of the respective year in t

subsequent financial year after their approval at the AnnuGeneral Meeting. The effects of these appropriations were th

includedin theFinancial Statementsof thenextfinancial year.

To provide to the shareholders a true and fair value of reserveother funds and liabilities as on the date of Balance Sheet, th

Bank has changed the previous practice and given effect to thappropriation of profits for the current year in the financi

statements for the year ended 31 March, 2012 itself, subjectapprovalat theAnnualGeneralMeeting. (Refer toPageNo.36

Last year your Bank had received 10 licences for openinbranches from RBI, making total licenses in hand 13. Durin

the financial year 2011-12, your Bank opened 11 branches various locations which include twomulti-statebranchesat Gand Belgaum. One branch at Rabale is expected to

operational byendof May, 2012.

Your Bank has received permission from the Reserve Bank

India to open 18 more branches at Boisar, Thane, KalyaSolapur, Akola, Pen, Chiplun, Sangli, Kudus, Nashik, JalnChandivli, Bangalore in state of Karnataka, Phonda, Madgao

instateof Goa, Surat,Ahmedabad, Barodain stateof Gujarat.

As unanimously approved by theGeneral Body, thename of tBank stands changed from The Thane Janata Sahakari Ban

Profitability:

Dividend:

Appropriationof Profit forF.Y. 2011-12:

Expansion:

BrandTJSB :

`

st

Profit before Tax & Provisions

Profit after Tax & Provisions

( `in Crore

2010-11

104.89

60.09

Particulars 2011-12

89.66

49.58

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Ltd. to TJSB Sahakari Bank Ltd.. The necessary approvalsare received from the Central Registrar, New Delhi and the

ReserveBankof India.

The said change will have great impact in view of spreading our

wings beyond Maharashtra. Your bank firmly believes in thefact that the name change would help in achieving globalacceptance, recognitionand expansion.

The bank launched its new logo at the MIFTAAwards functionheld in London. This provided us with a platform for

establishing our presence beyond India and also provided aboost to our Forex Services.

The bank conducted unique event, Desh Majha, Mee

Deshacha, at the Dadoji Konddeo Stadium commemoratingthe centenary of National Anthem, Jana Gana Mana. Theresponse was overwhelming. Almost 50000 citizens including

21000 school children attended the programme. In view of thenumber of participants, an attempt has been made to record the

sameinGuinnessWorldBookofRecords.

The bank opened its first out of state branch in Mapusa, Goafollowedby second oneatBelgaumin Karnataka.

These events have been conceptualized as some of the vehicles

forbuildingour brand name through a wide coverage on variousmedia likeprint media, electronic media etc.

The bank is on major expansion drive and in this scenario;managing and mitigating risk plays a crucial role in achieving

longterm financialsecurity andsuccess.

Taking on various types of risk is integral to the bankingbusiness. Sound risk management and balancing risk-reward

trade-offs are critical to a bank's success. Business and revenuegrowth have therefore to be weighed in the context of the risks

implicit in the Bank's business strategy. Of the various types ofrisks, your Bank is exposed to, the most important are Credit

risk, Market risk (which includes Liquidity risk and Price risk)and Operational risk. The identification, measurement,monitoring and management of risks accordingly remain a key

focusareafortheBank.

ForCredit risk, thebank haswell defined creditrating systemin

line with industry parameters for rating the borrowers. Ratingsystem is mainly aimed at assessment of Credit risk. Ratingmodel covers risk viz. Financial risk, Industry risk, Business

risk, Management risk. The bank ensures rating of borrower'sperformance based on audited financials on yearly basis.

The bank is aiming to move further towards rating/ risk based

pricing in near term. The rating system is transparent and givesscope to the borrowers for improvement in requisite areas and

become eligible for concessional pricing based on rating grade.

RiskManagement :

The bank has in place well defined credit policy with explirules and instructionspertaining to grant of creditwhich aims

followingthe soundlendingpractices.

The bank has well defined Committee Approach for takincreditdecisions judiciously..

In the wake of phenomenal increase in the volume transactions, high degree of structural changes and complsupport systems, managing operational risk has become

important featureof soundrisk management practices.

Thebankplacesgreat emphasison compliance withthe ongoi

requirements as per RBI directives. The bank has put in placeset of best practices in risk management appropriate to the siand business and these are been reviewed from time to time b

theBoard of Directors.

The bank has an internal control system in place which helps

managing the operational risk aspects. Operational ri

management policy provides a broad framework to identifassess andmonitor risks, strengthen controls, improvecustomserviceandminimizeoperating loss.

During past few years, various activities and processes ha

been initiated by your bank for identification of riskassessment of their magnitude and monitoring them by use

varietyof procedures.

With this kind of pro-active approach, the bank is fully geareup and prepared to adopt IFRS and Basel II norms as and wh

madeapplicable to co-operativesector.

Share capital of the Bank increased by 6.99 crores during tyear 2011-12 and remained at 72.10 crores. Your Bank is wcapitalized with CRAR of 15.03% well above the minimu

requirementof 12% asstipulated by RBI.

Your bank is under expansion mode and in the year 2012-13

plans to open 20 new branches. The capital expenditure to incurred for the new branches and software up-gradation w

put pressure on capital adequacy which we intend to tackle withe bottom-linemanagement approach.

Human Resource Development is a framework for texpansion of Human Capital within organization. It is

integrated use of training and career development efforts improveindividual, groupand organizationaleffectiveness.

Your bank organizes training sessions for staff members at a

levels at the Bank's Training Centre. They are also deputed various training programmes, workshops and semina

conducted by renowned organizations and institutions banking & financial sector.

CapitalAdequacy:

HumanResource:

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During 2011-12, 55851 man-hours were deployed for 1178participants in 44 training programmes. Variety of subjects

covered include e.g. On location workshop on Emerging Trendsin Merchant Banking Business, Programmeon Measurement &

Management of operational risk under Basel II, Programme onTransition to IFRS, Programme on Fixed Income Portfolio

Management (Focus: Trading & Hedging), AwarenessProgrammeon Forexand manymore.

Your bank continuously strives to update knowledge and

sharpen skillsof employees to make them fully prepared to facenewchallenges in banking sector. Yourbank lists 'people' as one

of its stated core values. The Bank believes in empowering itsemployees and constantly takes various measures to achieve

this.

Your Bank has alwaysbeen front runner in adopting technology

for better customer services and convenience. The Reserve

Bank of India has published the report on Electronic Banking,Information Security and Technology Risk Management andrecommendingthe measuresto be taken.Bankhasapproved andadopted Information Security Management System policy for

all its Information Technology related operations as per the ISO27001standardframework andhas taken themeasures to test the

BusinessContinuity by adoptingDisasterRecoveryDrills.

The Bank has started Internet banking system with limitedfunctionality. In November 2011, RBI has published guidelines

allowing transaction based internet banking system toscheduled co-operative banks.Your Bank has complied with all

the recommendations and has made application to RBI for

starting transaction based internet banking system and expectsto receive approval. The Bank has taken initiative of

implementing 2FA Two Factor Authentication for makingthe Internet Banking more secure than ever before.

During the financial year, the Bank has added new clients to itsfold to provide Information Technology Enabled Services(ITES).These services include-

i. I T ConsultancyServicesandAMLSoftwareii. DR SiteSharingiii.DC/DR Sharing

YourBank is member of National Payment Corporation of Indiaandhas launchedRuPayATMcard forall itscustomers,which is

acceptedat 66 Banks'ATMsandat96743locations across India.

To facilitate the transition to digital currency, your Bank haslaunched International VISA Debit Card for customer with

VISA Debit Classic and Platinum options during 2011-12. WithTJSB VISA Debit Card customers can have access to ATM,

merchantestablishments andsecure transactionovernet.

TechnologicalAdvancement:

NewLinesofBusiness:

Your Bank is marching towards key position in multi-state c

operative banking sector by spreading the wings out Maharashtra. The management has in place a well thought o

strategy catering to diverse needs of customers across thcountry.The strategy is being executed within a soungovernance framework that seeks to balance the interests of a

stakeholders to ensure sustainable value creat ioThe Bank believes in adopting and adhering to the be

recognized corporate governance practices and continuousbenchmarking itself against each such practice. The Ban

understands and respects its fiduciary role and responsibility shareholders and strives hard to meet their expectations. TBank believes that best practices, transparent disclosures an

shareholder empowerment are necessary for creatinshareholdervalue.

The total number of members of the Bank as on 31.03.20stoodat40921as against34228of theprevious year.

The Board of Directors recommends to the Annual Gener

Meeting appointment of Joshi & Karandikar, CharterAccountants for the financial year2012-13. Joshi& Karandikhave consented to be appointed as Statutory Auditors. T

resolutions for their appointment will be moved under agenitemno.4ofthenotice.

Your Bank sponsored an essay competition conducted by aNGO in Thane (Corporate Sustainability & Reputatio

Consulting), the subject being Value of Education. It was bason an interview of Dr. Narendra Jadhav Member of India

Planning Commission and a member of the National AdvisoCounciltothePrimeMinisterofIndia.

More than 12300 students from 103 Ashram Shalas from Tha

district participated in the competition. From each school,winner wasselected. To create financialawareness andcultiva

saving habit amongst school children, a savings account feach winner has been opened in TJSB and an amount of 1depositedin theaccountas theprize.

This has opened the gates of a much larger opportunity financial inclusionwith tribal schools.

As already reported in the 40 Annual Report, we are glad informyou that

New Corporate Office is fully functional and codepartmentshavebeen shifted to thepremises.

CorporateGovernance:

Membership:

Appointment of StatutoryAuditors:

CorporateSocial Responsibility:

WayForward:

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During the year, TJSB has tied up with National DepositoryServicesLimited,to provide theservicesof demat accounts.

Introduction ofVisaDebitCard.

Application Supported by Blocked Amount (ASBA): Thesafest and most economical way of making application for IPO,Bond Issuesand NFOof Mutualfunds.

Introduction of New Pension Scheme (NPS) under PensionFund Regulatory and Development Authority (PFRDA)

established by Government of India and TJSB to function asPoints of Presence Service Providers through the network ofbranches.

For improving the customer services and reduce the time todeposit the Cash for savings account customer, Bank is

installing Cash Acceptance Machine at Naupada Branch, Main

Branch and Panchpakhadi Branch which will enable theCustomers to deposit cash at any time and get credit to theaccount.

During the year, bank is also planning to introduce self

service Pass Book Printing Machines and Kiosks to offervarious bankingfacilities24x7to itsCustomers.

During the year, bank received permission from the ReserveBank of India for starting Mobile Banking Services and Bankhascompletedall the testing to start Inter Bank MobilePayment

System (IMPS) of National Payment Corporation of India. Inthe coming year, customers of the Bank can avail Mobile

banking for all transactions including interbank funds transfer

andpaymentof utilitybills.

Going forward, IMPS will be driver for payment systems with

support for RTGS/NEFT funds transfer, UIDAI support, andaccesson singleUSD numberacross India.

Bank is committed to introduction of enriched e-banking

channels full of features and functionalities at par with thebanking industry for its customers.

TheReserveBankofIndiahascutReporateby50basispointsinmonetary policy to boost economic growth of the country.

Although we might see a progress in economic growth outlook,the inflationary pressures still persists on the back of expected

decontrol of petroleum products, increase in oil prices globallyand ballooning fertilizer subsidies. The international ratingagency Standard & Poor (S&P) has given negative outlook of

the long term sovereign debt of the country due to slow fiscalconsolidation process. This may result in lower net inflows of

funds from abroad. India's Current Account Deficit (CAD)which represents itsdebt to theworldis already above 4% whichmight go up further due to the shrinking of net inflows of funds

to the country, which in turn will impact the domestic currency

ThefocusareasofyourBank incurrent year will be:

FutureOutlook:

adversely.Althoughthereare manychallengesahead, yourba

is fully prepared to face them by re-aligning business policiand strategies.

Board of Directors deeply mourn the sad demise of Sh

Bhagwanrao alias B.K. Patwardhan founder Chairman of oBank.HewasonBoardof TJSBupto1985.

Shri Bhagwanrao Patwardhan was known as first Chartere

Accountant in Thane City and started his businees in 1954. Tpromote Co- Operative Banking in Thane District. H

established Thane Janata Sahakari Bank Ltd. He was activeinvolved in social work and was Chairman of KopineshwMandir Trust.For getting free medical facilities for poor an

downtrodden society, he established Jani Janardan Seva SamiIn 1981, he started Sadguru Seva Mandir Trust at Yeor an

worked wholeheartedly forAdivasiPeople.

We also deeply mourn the sad demise of Smt. Sadhanatai Amta social leader, eminent artist M. F. Hussain, Gazal SingerJagSingh, Marathi Poet Grace, renowned Hindi actors ShammKapoor and Dev Anand and renowned Marathi actress Rasik

Joshi.We deeply mourn the death of our staff member ShShreerang Chavan. We also deeply mourn thedeath of membe

of your bank, customers and well wishers who passed awaduring theyearunder report.

I would like to thank allshareholders for theconfidence reposin us and in supporting us to scale greater heights

performance. Our growing customers add strength to ogrowth and progress and I would like to express my gratitude

them.

On behalf of the Board, I would like to appreciate the efforts the employees for their whole hearted contribution to t

organization and their unwavering dedication. The Board also grateful to The Reserve Bank of India, Central Registrar

Co-operative Societies New Delhi, Commissioner of Coperationand Registrar of Co-operativeSocieties, MaharashtStatefor their support andguidance.

The Bank has been immensely benefited by the contributiomade by its Auditors, Legal advisors and correspondents and

amgratefultoallofthem.

Last but not the least, I would like to thank my colleagues on t

Board, who have given their valuable time and assistance charting Bank's progressive moves and ensuring TJSBfrontlineposition.

OnBehalfof BoardofDirectors

Obituary:

Acknowledgement:

ShriV.A.VaishampayanChairman25.04.2012



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Documents

Tjsb Annual Report-2012