CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

CO-OPERATIVE BANK IN GLOBALISED ECONOMY

CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

1. INTRODUCTION TO BANKING

A bank is a financial intermediary that deposits and channels those deposits into lending activities, either directly or through capital markets. A bank connects customers with capital deficits to customers with capital surpluses. Banking is generally a highly regulated industry, and government restrictions on financial activities by bank have varied over time and location. The current sets of global bank capital standards are called Basel II. The oldest bank still in existence is Montedeipaschi di sienna, headquartered in sienna, Italy, which has been operating continuously since 1472.

CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

1.1 Meaning:A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets. A bank connects customers that have capital deficits to customers with capital surpluses. The term bank is derived from the French word Banco which means a Bench or Money exchange table. In olden days, European money lenders or money changers used to display (show) coins of different countries in big heaps (quantity) on benches or tables for the purpose of lending or exchanging.

1.2 Definition:The definition of a bank varies from country to country. See the relevant country page below for more information. Under English common law, a bank is defined as a person who carries on the business of banking, which is specified as: Conducting current account for his customers. Paying cheques draw on him, and Collecting cheques for his customers. In most English common law jurisdictions there is a bill of exchange act that codifies the law in relation to negotiable instruments, including cheques, and this act contains a statutory definition of the term banker: banker includes a body of persons, whether incorporated or not, who carry on the business of banking (section 2, interpretation).

CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

2. TYPES OF BANKS

The types of bank are as follow: Central bank Nationalized bank Commercial bank Scheduled bank Industrial bank Off-shore bank Co-operative bank Housing development bank Land development bank

CONCLUSION: my topic is co-operative bank hence areas of focus will be towards the
minutes of cooperative banks other cooperative financial institutions.

3. INTRODUCTION TO CO-

CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

3.1 MEANING:According to the International Co-operative Alliance Statement of co-operative identity, a co-operative is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise. Co-operatives are based on the values of self-help, selfresponsibility, democracy, equality, equity and solidarity. In the tradition of their founders, co-operative members believe in the ethical values of honesty, openness, social responsibility and caring for others.

3.2 DEFINATION:A Co-operative bank, as its name indicates is an institution consisting of a number of individuals who join together to pool their surplus savings for the purpose of eliminating the profits of the bankers or moneylenders with a view to distributing the same amongst the depositors and borrowers.The Co-operative Banks Act, of 2007 (the Act) defines a cooperative bank as a co-operative registered as a co-operative bank in terms of the Act whose members 1. Are of similar occupation or profession or who are employed by

acommon employer or who are employed within the same businessdistrict; or 2. Have common membership in an association or organization, including a business, religious, social, co-operative, labor or educational group; or 3. Have common membership in an association or organization, including a business, religious, social, co-operative, labor or educational group; or 4. Reside within the same defined community or geographical area.

3.3 INTRODUCTION:Co-operative bank, in a nutshell, provides financial assistance to the

people with small means to protect them from the debt trap of themoneylenders. It is a part of vast and powerful structure of co-operative institutions which are engaged in tasks of production, processing, marketing, distribution, servicing and banking in India. A co-

CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

operative bank is afinancial entity which belongs to its members, who are at the same time the owners and the customers of their bank. Co-operative banks are often created by persons belonging to the same local or professional community or sharing a common interest. These banks generally provide their members with a wide range of banking and financial services (loans, deposits, bankingaccounts). Cooperative banks differ from stockholder banks by their organization, their goals, their Values and their governance. The Cooperative Banking System in India is characterized by a relatively comprehensive

network to the grass root level. This sector mainly focuses on the local population and microbanking among middle and low income strata of the society. These banks operate mainly for the benefit of rural areas, particularly the agricultural sector.

3.4 PRINCIPLES OF CO-OPERATIVE BANKS Co-operative bank have 7 principles which are: Voluntary and open membership Democratic member control Member economic participation Autonomy and independence Education, training and information Co-operation among Co-operatives Concern for Community.

3.5 IN

OF CO-OPERATIVE BANKING INDIA:

Co-operative Banks are much more important in India than anywhere else in the world. The distinctive character of this bank is service at a lower cost and service without exploitation. It has gained its importance by the role assigned to them, the expectations they are supposed to fulfill, their number, and the number of offices they operate. Co-operative banks role in rural financing continues to be important day by day, and their business in the urban areas also has

CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

increased phenomenally in recent years mainly due to the sharp increase in the number of primary co-operative banks. In rural areas, as far as the agricultural and related activities are concerned, the supply of credit was inadequate, and money lenders would exploit the poor people in rural areas providing them loans at higher rates. So, Co-operative banks mobilize deposits and purvey agricultural and rural credit with a wider outreach and provide institutional credit to the farmers. Co-operative bank have also been an important instrument for various development schemes, particularly subsidy-based programmers for poor. The Cooperative banks in rural areas mainly finance agricultural based activities like: Farming Cattle Milk Hatchery Personal finance The Co-operative banks in Urban areas Finance in activities like: Self-employment Industries Small scale units Home finance Consumer finance

Finance some of the forward looking Co operative banks have developed sufficient core competencies to such an extent that they are able to challenge state and private sector banks. The exponential growth of Co-operative banks is attributed mainly to their much better contacts with the local people, personal interaction with customers, and their ability to catch the nerve of the local clientele. The total deposits and landings of Co-operative banks are much more than the Old Private Sector Banks and the New Private Sector Banks.

CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

3.6 MPORTANCE OF CO-OPERATIVE BANKING

Co-operative bank forms an integral part of banking system in India. This bank operates mainly for the benefit of rural area, particularly the agricultural sector. Co-operative bank mobilize deposits and supply agricultural and rural credit with the wider outreach. They are the mains source for the institutional credit to farmers. They are chiefly responsible for breaking the monopoly of moneylenders in providing credit to agriculturists.Cooperative bank has also been an important instrument for variousdevelopment schemes,

particularly subsidy-based programmers for the poor. Co-operative banks operate for nonagricultural sector also but their role is small. Though much smaller as compared to scheduled commercial banks, co-operative banks constitute an important segment of the Indian banking system. They have extensive branch network and reach out to people in remote areas. They have traditionally played an important role in creating banking habits among the lower and middle income groups and in strengthening the rural credit delivery system.

3.7

EATURES OF CO-OPERATIVE BANKING

Co-operative Banks are organized and managed on the principal of co-operation, self-help, and mutual help. They function with the rule of "one member, one vote". Function on "no profit, no loss" basis. Co-

operativebanks, as a principle, do not pursue the goal of profit maximization. Co-operative bank performs all the main banking functions of deposit mobilization, supply of credit and provision of remittance facilities. Co-operative Banks provide limited banking products and are functionally specialists in agriculture related products. However, co-operative banks now provide housing loans also. Co-operative banks are perhaps the first government sponsored, government-

supported, and government-subsidised financial agency inIndia. They get financial and other help from the Reserve Bank of India, NABARD, central government and state governments. They the"most favoured" banking sector with risk of nationalisation. For commercial constitute banks,

the Reserve Bank of India is lender of last resort, but co-operative banks it is the lender of

CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

first resort which provides financial resources in the form of contribution to the initial capital (through state government), working capital, refinance. Co-operative Banks belong to the money market as well as to the capital market. Primary agricultural credit societies provide short term and medium term loans. Co-operative banks are financial intermediaries only partially. The sources of their funds (resources) are: (a) Central and state government, (b) The Reserve Bank of India and NABARD, (c) Other co-operative institutions, (d) Ownership funds and, (e) Deposits or debenture issues. Some co-operative bank is scheduled banks, while others are nonscheduled banks. Cooperative Banks are subject to CRR and liquidityrequirements as other scheduled and non-scheduled banks are. However, their requirements are less than commercial banks. As said earlier, co-operative banks accept current, saving, and fixed or time deposits from individuals and institutions including banks. In the recent past, the RBI has introduced changes in interest rates of co-operative banks also, along with changes in interest rates of commercial banks. The interest rates structure of cooperative banks is quite complex. The rates charged by them depend upon the type of bank, the type of loans, and vary from state to state.

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4. HISTORY OF CO-OPERATIVE BANKS

The origins of the co-operative banking movement in India can be traced to the close of nineteenth century when, inspired by the success of the experiments related to the cooperative movement in Britain and the cooperative credit movement in Germany, such societies were set up in India. Now, Co-operative movement is quite well established in India. The first legislation on co-operation was passed in 1904. In 1914 the

Maclagencommitteeenvisaged a three tier structure for co-operative banking viz.Primary Agricultural Credit Societies (PACs) at the grass root level, Central Co-operative Banks at the district level and State Co-operative Banks at state level or Apex Level. In the beginning of

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20th century, availability of credit in India, were moreparticularly in rural areas, was almost absent. Agricultural and relatedactivities starved of organized, institutional credit. The rural folk had to depend entirely on the money lenders, who lent often at usurious rates of interest. The co-operative banks arrived in India in the beginning of 20thCentury as an official effort to create a new type of institution based on the principles of co-operative organization and management, for ProblemsPeculiar to Indian conditions. These banks were conceived assubstitutes suitable for

money lenders, to provide timely and adequate short-term and long-term institutional credit at reasonable rates of interest. The Anyonya Co-operative Bank in India is considered to have been the first co-operative bank in Asia which was formed nearly 100 years back in Baroda. It was established in 1889 with the name Anyonya Sahayakari Mandali Co-operative Bank Limited, with a primary objective residents. In the ofproviding an alternative to exploitation by moneylenders for Barodas

formative stage Co-operative Banks were Urban Co-operative Societies run on community basis and their lending activities were restricted to meeting the credit requirements of their members. The concept of Urban Co-operative Bank was first spelt out by Mehta Bhansali Committee in 1939which defined on Urban Co-operative Bank. Provisions of Section 5 (CCV)of Banking Regulation Act, 1949 (as applicable to Co-operative Societies)defined an Urban Co-operative Bank as a Primary Co-operative Bank other than a Primary Co-operative Society were made applicable in 1966.With gradual growth and also given Philip with the economic boom, urban banking sector received tremendous boost and started diversifying its credit portfolio. Besides giving traditional lending activity meeting the credit requirements of their customers they started catering to various sorts of customers viz.self-employed, small businessmen / industries, house finance, consumer finance, personal finance etc.

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4.1 EVALUTION OF CO-OPERATIVE BANK

The beginning cooperative banking in India dates back to about 1904, when official efforts were made to create a new type of institution based on principles of co-operative organization & management, which

wereconsidered to be suitable for solving the problems peculiar to Indianconditions.The philosophy of equality, equity and self help gave way to the

thoughts of self responsibility and self administration which resulted ingiving birth of cooperative. The origin on co-operative movement was one such event-arising out of a situation of crisis, exploitation and sufferings. Co-operative banks in India came into existence with the enactment of the Agricultural Credit Co-operative Societies Act in 1904. Co-operative bank form an integral part of banking system in India. Under the act of 1904,a number of cooperative credit societies were started. Owing to theincreasing demand of co-operative credit, anew act was passed in 1912, which was provided for establishment of co-operative central banks by a union of primary credit societies and individuals. Co-operative Banks in India are registered under the Co-operative Societies Act. The cooperative bank is also regulated by the RBI. They are governed by the Banking Regulations Act 1949 and Banking Laws (Co-operative Societies) Act, 1965.

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LITERATURE REVIEW

1. Vinayagamoorthy A. (2007) Globalization and Co-operative Sector in India, Cooperative Perspective, Journal of Co-operative Management, Vaikunth Mehta National Institute of Co-op. Management, Pune, Vol.41, (Annual Issue), April 06-March 07. Vinayagamoorthy A. (2007)1 The present paper discussed the Globalization and Cooperative Sector in India, globalization means mutual global co-operation by way of reducing control and bureaucratic delays and steering the economy towards better market orientation. In India, year 1991 marked the beginning of a new era in economic policy. To encourage privatization, policy changes such as deregulation of state investment in infrastructure, manufacturing etc. provided for new direction and affected almost all the sectors of the economy including co-operative sector. But the reform measures under the economic policy, mainly concentrated only in removing the fetters on private enterprises and in stimulating higher economic growth by promoting industrial sector. At present there are 5.04 lack different types of co-operatives with membership of 22 crores, covering 100% villages and 67% rural households. Author stated that the transition from controlled economy to open competitive economy in the name of globalization or liberalization has thrown a whole lot of challenges to the co-operative sector. It was believed that co-operatives would not be able to survive in the face of stiff competition posed by private sector. A study of functioning of co-operative societies in various segments such as agricultural credit, marketing, fertilizer distribution, agro-processing, dairy and sugar industries has shown that there are some strong and viable co-operatives. The current status of co-operatives reflected both a risk and an opportunity. Author explained that in a developing economy like India with huge deficits in terms of quality and quantity, the State has to accept the primary responsibility of providing co-operative credit. Concern to socio-economical consideration like-low living standard, incomplete and imperfect markets, it is the primary duty of the government to ensure that easy access of co-operative credit. Author explained that it is the need of the hour that co-operative sector in the era of liberalized environment is to seize every opportunity available to it. Thus, the future vision of co-operative movement will have to be

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based on efficient parameters relating to promotion of excellence, improvement of operational efficiency and strengthening of financial resource base.

1. Bedi R.D. (1971), Theory, History and Practice of Co-operation, Loyal Book Depot, Meerut, 1971 Bedi R.D. (1971)1 - In a comprehensive study of co-operative movement under the title Theory, History and Practice of Co-operation, author studied not only Indian co-operative movement but also gave some examples of success of other countries of the world where cooperative movement flourished. The study is divided into four parts i.e. Theory of Cooperation, Co-operation in Foreign Countries, History of Co-operative Growth and Cooperation in India. Part first consists with economic organizations, co-operation; their definition, principles, types, co-operation and State aid etc. Part second is dedicated to the success of co-operative movement in foreign countries, history and practice in co-operation evolved in foreign countries is explained deeply with illustration of various countries. This is useful for Indian Planners to formulate plans, policies and practices for a sound development of co-operative movement. Part third consists of History of Co-operative Growth in India, various study groups and committees, their suggestions were studied in this part of the book. As the goal of democratic socialism, Indian planners placed before themselves, co-operation also secured its rightful place in every sphere of the Indian economy and made considerable progress. Finally author examined the progress of co-operative movement, managerial and operational aspects of the co-operative organizations at all levels. Author has given stress on the programmer of co-operative training and education, supervision and inspection of cooperatives and community development programmer. The study shows the correct path to follow on the previous historical background which is necessary for the sustainable development of the co-operatives in India.

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1. Saxena K.K. (1974), Evolution of the Co-operative Thought, Somaiya Pub.Pvt.Ltd., New Delhi, 1974. Saxena K.K. (1974)1 - Evolution of the Co-operative Thought is a comprehensive study. It is a systematic attempt to understand and evaluate the theoretical consideration which influenced the evolution of co-operative thoughts. Author analyzed various trends which emerged as a result of the influence on economic and social factors. It is also illustrated the expansion of co-operatives from the developed and developing countries. In the study author focuses the dynamic character of the principle of co-operation and assigns co-operation the status of an emerging economic system. This book is divided into three parts. Part first is concerned with the beginning and the foundation of the co-operation and Rochdale cooperative philosophy. Part second is concerned on emergence of co-operatism as an economic system and needs for reformulation and for that purpose author emphasized that co-operators should build up their own political philosophy. Pattern of development discussed in details under five chapter i.e. economic progress through co-operation, social aspects of co-operation, political philosophy of co-operation, co-operation and State action, management development, importance of education, training and leadership. Saxena explained that cooperatives have to recognize that they cannot eliminate all competition. The competition from private enterprise and large capitalistic concerns is there and is bound to increase in future as they have taken all the advantages of modern technology. The capitalist enterprise will tend to continue its evolution towards oligopoly and monopoly, not in the national markets only, but on the international plane in new multi-national economic units called free trade areas or economic communities. This again underlined the need for greater international co-operation amongst the co-operatives to make its greatness manifest and established its efficiency as against the large monolithic capitalist enterprises. For this challenge international cooperation among co-operatives is most important.

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FIELD STUDY
1. OPERATION OF CO-OPERATIVE BANKING

Establishments Co-operative bank performs all the main banking functions of deposit mobilization, supply of credit and provision of remittance facilities. Co-operative Banks belong to the money market as well as to the capital market. Co-operative Banks provide limited banking products and

arefunctionally specialists in agriculture related products. However, co-operative banks now provide housing loans also.

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UCBs provide working capital loans and term loan as well. The chief functions of Co-operative banks are: To attract deposit from non-agriculturist, To use excess funds of some societies temporarily to make up for shortage in another. To supervise and guide affiliated societies. The basic principles on which a Co-operative bank works are: A co-operative character of activities and trait of mutual aid of credit granted. Catering for collective organizations and their members. Restriction on the number of individual votes.

As a result, during 2007-08, the Primary Cooperative Agriculture and Rural Development Banks have again started lending for the Non-Farm Sector including Jewel Loans. Aiming at high rates on deposits and low rates on lending. Limitation of dividends out of profits and bonus to depositors and borrowers or grants to cultural or co-operative Endeavour. These banks are constituted of voluntary association, self-help and mutual aid, one share one vote and non-discrimination and equality of members. The co-operative banks are the organizations of and for the People.

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2. STRUCTURE OF CO-OPERATIVE BANKING SYSTEM

There is three tier structure of co-operative banking. The state co-operative bank is the apex bank at the state level providing credit and expanding credit. The district central co-operative bank provides and expands credit at the district level and the primary agricultural co-operative credit bank provides and expands credit to farmers at the rural levels.

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Co-operative movement is quite well established in India. The first legislation on co-operative was passed in 1904. In 1914 the Maclagen committee envisaged a three tier structure for cooperative banking viz. primary agricultural credit societies (PACs) at the grass roots level, central co-operative banks at the district level and state co-operative bank at state level or apex level. The first urban co-operative bank in India was formed nearly 100 years back in Baroda. Co-operative institutions are engaged in all kinds of activities namely production, processing, marketing, distribution, servicing and banking in India and have vast and powerful superstructure. Co-operative banks are important cogs in this structure.

Co-operative banks operate both in urban and non urban centers. The urban areas are served by the primary (urban) co-operative banks (PCBs/UCBs) where as the rural areas are largely served by two sets of institutions, the PACs and LDBs, dispensing and long term credit, respectively.

UCBs have a three tier structure with state co-operative banks (SCBs) at the apex level, the district central co-operative banks (CCBs) at the intermediate and the primary agricultural credit societies (PACS) at the grass root level (refer table II).Under the long term credit structure, state co-operative agriculture and rural development banks (SCARDBs) are at the apex level and the primary co-operative agriculture and rural development banks (PCARDBs) are at the base level. UCBs are regulated by the RBI as well as the registrar of co-operative societies of the state where they are located. District and state level co-operative banks also report to the national bank for agriculture and rural development (NABARD).

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2.1 ORGANIZATIONAL STRUCTURE OF THE CO-OPERATIVE CREDIT INSTITUTIONS

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3. INTRODUCTION TO GLOBALISATION

The term globalized is

often associated business.

It is a process of

development of the world into a single integrated economic unit. In India, globalized refers to the opening of the gates of the economy for mutual global cooperative by way of reducing control and bureaucratic delays and steering the economy towards better market orientation.

Globalization started from the 19th century and the period between 1870 to 1913 has been considered as first phase and the period from middle of 20th century is viewed as the second phase. The world human development report, 1999 stats that the most significant feature of the current phase is market economic policies spreading around the world with greater privatization and liberalization then in earlier decades.

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3.1 IMPACT OF GLOBALISATION ON INDIAN BANKS

Globalization impact the banking industry in one or more of the following ways: Greater and intensive competition Focus on efficiency, productivity and cost reduction Superior risk management system and practices Strengthening services quality and delivery and cross selling of products/services. Product innovation as an integral part of the retail banking revolution. Up gradation of technology infrastructure. Competency building and investment in human capital as a catalyst for transformation. Consolidation within the financial system. Opportunity to increase size and scale to gain dominance in the local market and penetrate into the global market. Transparent, disclosure and market discipline It is, therefore for Indian banks to address all the above issues, if they aspire to play a role in the global arena.

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4. IMPACT OF GLOBALIZATION IN COOPERATIVE BANKS

BACKGROUND

It is a well-known fact that the year 1991 marked the beginning of a new era in economic policy of our country. To encourage privatization, policy changes such as deregulation of state enterprise, reduction in tariff barriers, creation of appropriate climate to promote private investment in infrastructure, manufacturing etc. provided for new direction and affected almost all the sectors of the economy, including co-operative sector. But the reform measures under the new economic policy, mainly concentrated only in removing the fetters on private enterprises and in stimulating higher economic growth by promoting industrial sector. The rural and agricultural sector remained somewhat neglected and also the effect of economic reforms on the economic fortunes of the common people was overlooked. Throughout the reform decade i.e., from 1991 to 2000, the role and relevance of the cooperative sector

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remained on the background, in spite of its predominant position in various fields of our national economy. There are at present 5.04 lakh co-operative societies of different type with a membership of 22 crores, covering 100 percent villages and 67 percent rural households. The transition from controlled economy to open competitive economy in the name of globalization or liberalization has thrown a whole lot of challenges to the cooperative sector. It was believed that cooperatives would not be able to survive in the face of stiff competition posed b private sector. In contrast, there were still few, who regarded co-operation as a dynamic enterprise, which had been able to survive for around 150 years. A study of functioning of cooperative societies in various segments such as agricultural credit, agricultural marketing, fertilizer distribution, agro-processing, dairy and sugar industries has shown that there are some strong and viable co-operatives. But at the same time one must realize the fact that the co-operative structure, as it emerged, has shown the following weaknesses.

Weaknesses:
Weak structure at primary level

Lack of responsiveness from federal organizations towards the needs of their member organizations.

Working of different co-operatives in isolation rather than unified system

Lack of participation of user-members

Some of the other weaknesses are lack of professional management, lack of adequate infrastructure, lack of capability to withstand competition, over-dependence on government for financial assistance and restrictive provisions of cooperative law. Some of these main weaknesses observed in the co-operative movement; have to be tackled on war-footing in the years to come, in the best interest of the survival of cooperative movement.

The current status of co-operatives reflects both a threat and an opportunity. It is a threat, because cooperatives have failed, to a large extent, in delivering efficient goods and services

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unlike the private sector and an opportunity, because the new economic scenario will offer enough opportunities, which could be effectively utilized by the co-operatives to prove their case of continuation. Some of the new challenges to be faced by co-operatives in the new millennium are briefly categorized as follows:

New Challenges

A borderless system of economic activity is coming into being. Big multinational companies will take full advantage of the borderless world, without hindrance of national boundaries to undertake large-scale economic activities, which will dominate the world market. Such a new economic scenario, presented a threat to cooperative movements ability to survive.

Since the government now has withdrawn to changed economic priorities, many coencounter difficulties in generating their resources and have to completely

support, due operatives own reorganize

themselves to survive and succeed in a competitive environment, without depending

n any state support.

At present, there are about 207 national and international organizations, which are the of ICA and there are about 754 million spread over 90 countries of Asia, Africa,

8 backbone individuals Europe and

America, who are members of ICA. With such a huge and diversified structure around the world, one cannot question the ability of the co-operatives to survive and succeed, but what needs to be deliberated upon is, the new direction towards which cooperative movement should move with firm determination.

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Internal and structural weaknesses of cooperative institutions, combined with lack of proper policy support have neutralized their positive impact and resulted partly in the mismanagement, inefficiency and corruption in the financing of cooperatives. This has necessitated the need for a clear cut policy on co-operatives, to enable sustained development and growth of healthy and self-reliant cooperatives. Keeping in view the challenges ahead, cooperatives have to reorient their strategies, in the changed economic environment of our economy. Some of the strategies to reorient and renew their development thrust in the new environment are:

Development Thrust

To face the challenges in a liberalized economy, the co-operatives have to reorient their structural functioning and management. It may include: Enhancing the competitive strength in cooperatives by their merger and division, wherever necessary. ii. Non-viable societies that do not have scope for revival should be liquidated. iii.Ensure active participation of members in their day-today business and de-listing or removing the inefficient or inactive members from membership. iv. Federal organizations of cooperatives must give sufficient financial and other support to their constituent societies.

With the growing diversification and size of operations in cooperatives, there is a need for constituting two separate boards namely, policy-board, consisting of elected representatives of the members and executive-board, consisting of senior executives headed by the chief executive, with clear demarcation of areas of their powers and functions. In other words, besides elected cooperators, there should be a provision to co-opt outside experts in areas, requiring high degree of specialization or technical and managerial expertise.

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Large-scale enterprises in the co-operative sector may require huge funds. To mobilize more funds, cooperatives may enter capital market and mobilize funds by means of deposits, debentures etc. At the same time, cooperatives must evolve deposit-insurance scheme, to instill confidence among the depositors, both in urban and rural areas. Effective deposit mobilization will help them to build their own lendable resources, for profitable and diversified lending. They have to adopt efficiency parameters, in terms of cost-effectiveness and a reasonable return on investment, if they have to survive in the competitive atmosphere.

According to some experts, there are a number of agricultural commodities like rice, sugar, fruits, vegetables; spices etc. that have strong competitive advantage in export markets. This has positive implications for agricultural cooperatives. Moreover, some cooperative thinkers interpreted that the historical attributes of cooperatives namely, countervailing power, access to capital on favorable terms, scale-economies and income improvement, provide them with necessary strength, to overcome the challenges of a competitive market.

Intensified enrolment drives to cover maximum number of small and middle sized agrarian producers, processors etc., intensified linkages with NGOs or Self-help Groups or panchayats and intensified efforts on the part of the government of India and promotional bodies like NCDC to attract funds and other forms of assistance from international agencies like world bank, Asian development bank, EEC, FAO, ILO, etc. for specific development projects in the cooperative sector, will go a long way in strengthening cooperatives, in order to complete in the new economic environment. For the development of rural sector, which is still very largely in the Informal spheres, the parameters of the new system do not apply. In such cases, we should indentify: The areas where the cooperatives cannot penetrate or cover, ii. The areas where the cooperative sector has a comparative advantage, and The areas where cooperatives can build up strategic alliance with private sector, public sector and International agencies. Such an understanding will greatly help in the vertical and horizontal integration of support services for agro-industrial production processes.

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For building up professionalism in the management of the cooperative enterprises, it is necessary on the one hand to upgrade the quality of the staff with latest developments and on the other hand, develop proper and cordial relationship between the managers and members of board of directors. Proper and continuous training must be provided to both cooperative leaders and profession executives.

It is only now that cooperatives have an opportunity to thrive for years, despite their relevance restricted by a hostile legal and policy environment fell far short of their promise. The extensive powers conferred on the registrar of cooperative societies, are a drag on the efficiency of the cooperative system. The dawn of the new era began in 1995, when Andra Pradesh legislature passed the AP mutually aided cooperative societies Act, 1995. by the end of 1999, three more states viz., Bihar, Jammu and Kashmir and Madhya radish have enacted similar parallel acts for self-reliant cooperatives. Maharashtra, Tamil Nadu, Orissa, Punjab and Himachal Pradesh are considering similar laws. Recently, Karnataka state legislature has passed & implemented Souharda cooperative society Act since 2000. It is this, changing environment that provides the opportunity for genuine cooperatives, to arise and compete. Parallel-laws for self-reliant cooperatives; provide a legal environment that allows cooperatives to function as autonomous, democratic, member-sensitive, member-controlled, self-reliant enterprises.

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FINDING AND ANALYSIS

It was found that the banks with most ATMs have gained priorities in the minds of the customers. Different bank have different schemes for different age groups. Some banks are giving privilege to senior citizens, while others to child group etc. Now Co-operative bank also such schemes targeted to different age group. The study has shown that the customers want better branch network so that they can operate their account from different city also. Globalization effect the co-operative bank in many way as it increase the competition level among the banks and even introduce the new innovative technology like core banking solution, SMS facilities, and ATM facilities, ABB facilities, but it does not allow the bank to do the deal in foreign exchange transactions. Advertising is not appropriate, as many people are not aware of jai hind Cooperative Bank. Therefore Hoarding and Boards should be displayed at various prime locations in the city. Timely payment of salary and Promotion of employees will boost their morale. All the complaints of Customer should be deal in proper manner because it is the customer who will give good or bad mouth about bank services. Non maintenance & other charges which are very high as compared to other Banks should be reduced. Existing customer should always be informed about the new product.

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

I can say that Globalization effect the co-operative bank in many way as it increase the competition level among the banks and even introduce the new innovative technology like core banking solution, SMS facilities, and ATM facilities, ABB facilities, but it does not allow the bank to do the deal in foreign exchange transactions. Cooperative banks both urban and rural have created a separated niche for themselves. Cooperative banks play a significant role in creating habits among lower and middle income groups and in rural credit delivery through their extensive networks. Moreover, the financial health of some UCBs has deteriorated due to high level of nonperforming assets while some other are facing financial problems such as low capital base, lack of professionalism in conduct and management, poor recoveries, lack of funds for fresh development, mounting over dues, inadequate internal controls and non-adherence to norm s and regulations and low levels of diversification in business operations. Global competition is a complex dynamic process which cannot characterize competitive capabilities amongst nations particularly when economics theory and logic rely in restrictive assumptions which have evaporated with open global economy, which toady, is the reality of changing times. If cooperative

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

banks have to capitalize on this opportunity, they have to become globally competitive, be it, cost, quality, delivery or any other business parameter. Some of the Innovations needed for the resurgence in the cooperative movement are:1) Change of mindset 2) Human resource development 3) Use of information technology 4) Adoption of innovative process technology for manufacturing 5) Value addition to the services and the products 6) Leadership with vision, dedication, commitment and innovative approach to organize the cooperatives. The innovations will help in transforming the whole system of cooperative management for betterment and cooperatives must not lag behind in keeping pace with the changing socio-economic environment.

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Annexure

CASE STUDY ON AMBARNATH JAI HIND CO-OPERATIVE BANK LTD

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

1.1 INTRODUCTION

A Bank is established in Ambernath city in the year 1986 by Mr. Vilas Desai and his friend to provide basic financial assistance & Banking services to common people. Initially the intention behind the opening of a Bank was to rescue the workers of various Industries, Municipalities & common people from the clutches of Savkar and money lenders. Bank was successful in this endeavor.

1.2 BUSINESS

Now Bank has crossed the Silver Jubilee Year. In the history of 26 years total business of the Bank has reached to Rs.290 Crores by collecting a Deposit amounting to Rs.195 Crores and disbursing loans amounting to Rs.95 Crores. Bank is having a Network of 9 branches & one Extension counter.

1.3 TECHNOLOGY

To get prompt & excellent service to its customers the Bank has adopted Core Banking Solution. By which the Bank provides services of Any Branch Banking and SMS Banking.

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Bank has also taken a historic step for sharing of other banks ATMs so that at more than 14000 ATMs will be made available to its customers across the country.

Bank also provides various services with the help of modern Technology such as RTGS / NEFT, Foreign remittance, Centralized Clearing, Cheque Book Printing etc.

1.4 AWARDS:

Most remarkable thing of the Bank is that Bank has been awarded as Excellent Bank in the year 2004-2005 by prestigious award of Padma bhushan Vasantdada Patil Nagari Sahakari Bank. Besides that bank has been awarded by various Excellency awards by Banking Frontiers for last 4 consecutive years.

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

1.5 ISO CERTFICATION

The Banking operations and functions of the Bank has been Audited for getting ISO 9001-2008 Certification & Bank has received ISO Certificate. Now Bank is ISO Certified Bank.

1.6 SPECIAL

Founder Chairman of the Bank Mr. Vilas Desai is a renowned personality in the CoOp Sector & is holding prestigious posts in the co-operative Banking Sector as follows:

Chairman: Kokan Nagri Sahakari Banks Association, Kalyan. Director: Maharashtra State Urban Banks Federation Ltd.Mumbai. Director: National Federation of Urban Co-Op Banks. New Delhi Member: TAFCUB, Goa

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

2. PERSONAL BANKING EVOLUTION AND FACILITIES

2.1. DEPOSIT

Saving deposit

Who

can

open:-Saving

Bank

Account

is

opened

by

Individuals,

HUF

&

Institutions/Organizations other than profit making organizations/institutions. Minimum Balance:-Rs.500/- for without Cheque Facility Rs.1000/- for Cheque Facility Rate of Interest:-4% p.a. Daily basis on Credit Balance Facility:-Free Personalized Cheque Book, Free SMS Banking, Free Any Branch Banking, Free ATM Cards

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Current Deposit

Who can open:- Any individual in his/her name, Any individual jointly with other(s),Sole Proprietorship, Partnership, Joint Stock Companies, Club and Association Minimum Balance:-Rs.2000/Rate of Interest:-No Interest will be paid on Balance of Current Accounts. Interest will be available on Flexi Deposit scheme connected to Current Account. Facility:-Free ATM Card, Personalized cheque book, Statement by Email.

Daily Deposit
Who can open:-Any Individual, etc

Professional Businessman in the name of Firm , Proprietary concern

Minimum Balance:-Account holder should deposit Minimum Rs.10/- or in multiple of Rs.10/- in the account on daily basis & he will get the deposited amount along with interest on maturity. Daily Agent duly appointed by Bank will collect deposit on daily basis. Period of Deposit:-1 year or 2 years Rate of Interest:-6% p.a. for 1 year & 7% for 2 years

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Fixed Deposit

Who can open:-Individual /HUF, Proprietary concern, Partnership Firm, Company. Rate of Interest:-Interest Rates depend on period of loan.

Sankalp Siddhi

Who

can

open:-Individual

/HUF,

Proprietary

concern,

Partnership Firm, Company Rate of Interest:-As per the Interest rate of other Term Deposit.

Recurring Deposit

Who can open:-Individual, HUF , Firm ,Proprietary concern ,Company Minimum Balance:-Account holder should deposit Minimum Rs.50/- or in multiple of Rs.50/- in the account on Monthly Installments Period of Deposit:-12 Months & above Rate of Interest:-As per the Interest rate of other Term Deposit Loan Facility:-Loan Facility available. Premature withdrawal is possible with certain conditions

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Lakhapati Deposit

This is a Special type of Recurring Deposit

Scheme. After

depositing a particular sum on monthly basis the account holder will get an equivalent amount of Rupees One Lac after certain period.

Monthly Interest Payable

After Investing certain amount in this scheme account holder will get Monthly Interest. There are two types of scheme in MIP:Months scheme MIP interest rate senior citizen Months scheme MIP interest rate individual & others.

Quarterly Interest Payable

After Investing certain amount in this scheme account holder will get Monthly Interest. There are two types of scheme in QIP:Months scheme QIP interest rate senior citizen. Months scheme QIP interest rate individual & others.

2.2) LOANS

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Personal Surety Loan

Purpose:- House Repairing/Renovation, Repayment of Debts, Purchase Home Appliances, Religious Ceremonies, Purchase Gold Ornaments. Max. Loan Amount:- Rs. 1,00,000/- Maximum Rate of Interest: - 15% p.a. Guarantors: - Two/Three Guarantors Collateral: - LIC Policies/NSC/ FDRs. Processing Fee: - 1.15 % on Loan Amount Pre-Repayment Charges: -No Pre-payment charges. Mode of Repayment: -Postdated cheques of Salary A/C or Business A/c, Standing Instruction

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Salary

Deduction Loan

Purpose:-House Repairing/Renovation, Repayment of Debts, Purchase Home Appliances, Religious Ceremonies, Purchase Gold Ornaments. Max. Loan Amount:-Rs. 1,00,000/- Maximum. Period:-yrs to Max. 5yrs. Rate of Interest:-15% p.a. Security :-Not Applicable. Guarantors:-Two/Three Guarantors. Collateral:-LIC Policies/NSC/ FDRs. Processing Fee:-1.15 % on Loan Amount Pre-Repayment Charges:-No Pre-payment charges Mode of Repayment:-Salary Cheques or Installment Deduction from Employer

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Loan against Fixed Deposit Receipt

Max. Loan Amount:-85% of Principal Amount of FDRs Period: -As per the duration of FD Receipts Rate of Interest:- 2 % more than Rate of interest of FD. Security :- Lien On Original FDRs. Guarantors:-No Guarantors Pre-Repayment Charges:-No Pre-Payment Charges Processing Fee:-no processing fees.

Vehicle Loan

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Purpose:- Purchase Two Wheelers, Four Wheelers or Commercial Vehicles (Truck, Cranes etc.) Margin: -25%. Period: -Min. 2yrs to Max.5Yrs. Rate of Interest: -Personal Use: 12% p.a. Commercial Use: 14.50% p.a. Security :-Hypothecation against Vehicle Guarantors:-2 to 3 Guarantors Collateral: -Immovable Property/LIC Policies/NSC/ FDRs. Processing Fee:-1.15% on Loan Amount Pre-Repayment Charges: -No Pre-payment charges. Mode of Repayment: -Postdated cheques of Salary A/C or Business A/c, Standing Instruction or Deduction of Loan Installment directly from salary by company.

Loan against Gold

Max. Loan Amount:-70% of Quotation Period:-2 Yrs. Rate of Interest:-12% p.a. Security: -Pledge of Gold Ornaments. Guarantors:-No Guarantors Processing Fee:-1.15% on Loan Amount

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Pre-Repayment Charges:-No Pre-Payment Charges.

Housing Loan

Purpose:- Purchase Flat/Bungalow or Construction of Bungalow

Max. Loan Amount:- Max.20.00 Lakh Period :-From 6yrs to Max.20Yrs. Rate of Interest:-6 Yrs 9.5% p.a. , 20Yrs 11% p.a. Security:-Mortgage of Flat to be purchased Mortgage of Bungalow to be purchased/constructed. Guarantors:-2 to 3 Guarantors. Collateral:-Falt / Bungalow, LIC Policies/NSC/ FDRs Processing Fee:-1.15% on Loan Amount Pre-Repayment Charges:-No Pre-payment charges Mode of Repayment:-Post dated cheques of Salary A/C or Business A/c, Standing Instruction or Deduction of Loan Installment directly from salary by company

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Swayamsiddha Loan

Purpose:-To start a new business or expansion of existing business

Eligibility: -Women only. Max. Loan Amount:- Rs.5000/Period: 2 years Rate of Interest:-10% p.a. Security :- No Security Guarantors:- No Guarantors Collateral:-No Collateral Security Processing Fee:- No Processing Fees Pre-Repayment Charges:-No Pre-payment charges Mode of Repayment:- Cash or Standing Instruction.

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

NSC /LIC Loan

Max. Loan Amount:- 70% of Principal Amount of NSCs/KVP or Surrender Value of LIC Policies Period :- 2 to 5 Yrs. Rate of interest:- 15% p.a. Security :- Lien On Original NSCs/KVP or Assignment on LIC Policies Guarantors:-No Guarantors Processing Fee:-1.15% on Loan Amount Pre Repayment Charges:-No Pre-Payment Charges

Vidyadan Education Loan

Purpose :- For Higher Education (Degree/Diploma/Professional Course) Max. Loan Amount:-As per RBI Directives. Study in India 10 Lakh and Study in Abroad 20

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Lakh. margin:-25% of Total Educational Fees (includes books & other accessories) Rate of Interest:-Simple Interest will be charged @ 12% p.a. till the completion of the education of the student.

After joining service / employment or six month of completion of education, whichever is earlier, the interest will be charged @ 15% p.a. Security :-Security, 2 / 3 Guarantors. Above Rs.1.00 Lakh - 2 / 3 Guarantors, Collateral:-Immovable Properties /LIC Policies/NSC/ FDRs Processing Fee:-1.15% on Loan Amount Pre-Repayment Charges:-No Pre-payment charges Mode of Repayment:-Post dated cheques of Salary A/C or Business A/c, Standing Instruction or Deduction of Loan Installment directly from salary by company.

Ambar Gold Purchase Loan

Purpose:- Purchase Gold Ornaments Max. Loan Amount:-Up to Rs.5 Lakh. Period:- 2 to 5 Yrs Rate of Interest:-12% p.a Security: -Pledge of Gold Ornaments which will be purchased.

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Guarantors:-No Guarantors Processing Fee:-1.15% on Loan Amount Pre-Repayment Charges:-No Pre-Payment Charges

Business Loan

Purpose: -To start a new business or expansion of existing business, purchase plot for factory, construction of factory shed, Working Capital Limit. Period:-5 Years to 7 Years Rate of Interest: -14.50%. Security : Land & Building Loans:- Mortgage of Plot along with Factory Shed/Office/Shop Plat & Machinery Loans:- Mortgage of Plot along with Factory Shed/Office/Shop/Residential

Flat/Hypothecation of Machinery to be purchased.

Loan Against Stock:-Hypothecation of Stock, Debtors, Furniture & Fixtures etc.

Guarantors:-2 to 3 Guarantors Collateral:- LIC Policies/NSC/ FDR's/Residential Flat/Plot/Factory Shed/Office/Shop Processing Fee:-1.15% on Loan Amount Pre-Repayment Charges:-No Pre-payment charges

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

3.3) OTHER SERVICES

LOCKERS
For the Safety of Customer Ambarnath Jai-Hind Co-Op.Bank Ltd., has provided Locker Facility in all its Branches.

FRANKING
Franking facility is available in our Ambernath East Branch.

4. SILENT FEATURES

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Core Banking

3 A or AAA Structure (A Anywhere, A. Any Time, A. Any Branch Banking facility to server about more than 40 thousand customer. RTGS & NEFT facility from MSC Bank, ICICI Bank & IDBI Bank. Tie up with Bajaj Allianz Insurance Company. Additional Interest on Deposits to Senior Citizens. "No Frill" Saving Accounts with Just Rs.10/- as Minimum Balance fulfilling "Financial Inclusion". ATM facility at selected branches and also in Process of Tie up with Bank of India for ATM sharing network. ISO 9001:2008 Certificates all Branches. Loans & Advances extended to Personals Loans, Salary Deductions, Traders, Businessmen, Housing Loans, SSIs, Educational Loan, Gold Loan, Loan against NSCs, KVPs etc. Housing Loans up to 20 Lakh. Education Loan: - As per RBI Directives. Study in India 10 Lakh and Study in Abroad 20 Lakh. SMS Banking facility to all customers without any charges. Statement by Email

5. FINANCIAL POSITION (Growth at a Glance)

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

(In Lakhs)

June 1987 Share Capital Reserve Fund Deposit Loan

March March March March 1990 6.68 1993 1996 1999 23.52

March 2002 29.71

March 2005 41.48

March 2008 84.78

March 2011 162.88

March 2012 306.79 363.55

12.14 16.97

0.11

6.31

31.11

82.75

186.12 406.15 748.79

916.21

1572.27 1744.09

104.16 254.09 407.98 1169.32 2120.34 4568.42 6457.77 10259.53 17670.49 20253.76 59.95 173.33 375.42 772.74 1293.11 2333.15 3664.50 5419.11 7968.88 10229.85

Investment 17.10 106.20 169.50 484.1 1060.90 2869.17 4304.13 5013.89 10407.67 11237.20 Working Capital Members Overdue Audit Grade 131.68 309.59 620.66 1475.44 2768.09 5972.58 8555.94 12068.69 20326.92 23560.82 1631 0.94 "A" 2425 3213 3422 3887 4064 4773 5591 393.38 "A" 6159 299.07 "A" 6422 397.19 "A"

20.11 47.99 100.18 167.75 303.03 338.23 "A" "A" "A" "A" "A" "A"

ARTICLE ON JAIN HIND CO-OPERATIVE BANK

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

JAI HIND CO-OP BANK FACES MUSIC

TNN Oct 18, 2004, 04.27pm IST PUNE: The board of directors of Chinch wad-based Jai Hind co-operative bank has been superseded by the department of co-operation due to several financial irregularities. The action was taken under section 110 of the Maharashtra Co-operative Societies Act 1960 following instructions by the Reserve Bank of India (RBI). Chandrakant Tikole, deputy district registrar, co-operation took over charge as administrator of the bank on Sunday. Tikole also has charge of the Pavna co-operative bank, whose board of directors was superseded in 2002 in the wake of the Rs 250 crores securities scam.

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Jai hind Coop Bank board superseded for violating norms

Gouri Agtey Athale, Oct 30, 2003, 11.51pm IST, PUNE: The board of directors of yet another cooperative bank has been superseded. This time, it is the 12member board, led by Chairman Arjan Gurbaxani, of the Jai hind Cooperative Bank, a Mumbai-based bank. The board was superseded today and an administrator appointed. The move follows two inquiries by the Registrar of Cooperatives (RoC) and the RBI, which found glaring irregularities and violation of all norms. The bank has just one branch, near the Stock Exchange in Mumbai. The Jai hind Bank had total deposits of Rs 44 crores but its paid-up share capital and reserves had turned negative, being a negative Rs 22.4 crores. A huge 62% of its loaning was to directors and relatives, high costs deposits accounted for 85.3% and its CRAR was a negative 50%.

QUESTIONNAIRE
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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Q.1) when was jai hind cooperative bank establish? ANS) 1st march 1986. Q.2) what is the growth rate of your bank? ANS) Increasing 15-20 %per year. Q.3) what are the latest technology used by your bank? ANS) latest technology is virmati software & communication. Q.4) what are the services provided by your bank at national and international level? ANS) providing insurance services by tie up with Bajaj Allianz Insurance Company. Q.5). during the recession period what were your fund regulation policies? ANS) policies are:Providing finance to small scale industries, small business enterprises.

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Providing term loan and cash credit facilities. Q.6). how globalization benefited to your bank? ANS) benefits from globalization are: Update technology (core banking solution, SMS facilities, and ATM facilities) Increase competition in the market.

Q.7) what challenges do cooperative banks face in global economy? ANS) increase competition and they are not allowed to do the deal in foreign exchange transactions.

Q.8). which innovative technology used by your banks? ANS) SMS facilities and ABB (any branch banking).

Q.9). do cooperatives play an important role in the socio-economic development of the countries? ANS) Yes

Q10) what type of special benefit gives your by your bank to customers. ANS) 1) Attractive interest rate in FDR, 2) Core banking facilities, 3) ABB, education loan facilities at low interest rate, 4) Amber rajni facilities for ladies for purchasing pc & laptop at low rate, 5) Housing facilities at concessional rate.

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

Q11) which are the economic sectors where your cooperative banks are most active? ANS) urban sectors Q12) what are the services provided by your bank to customers? ANS) only debit card and SMS banking services is providing to customers. Services like NRI, credit facilities, internet banking is not provided. Q13) will your organization support a proclamation of an international year of co-operatives in 2011 to promote cooperatives and raises awareness on their role in socio economic. ANS) yes

Extra information given by manager about their bank: Number of shareholder- 6500 members Share capital amount- 4 crores Total Investments- 131 crores Total deposits- 227 crores Branches- 9 branch and one extension counter.

BIBLIOGRAPHY & REFERENCES

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CO-OPERATIVE BANK IN GLOBALIZED ECONOMY

BOOKS:
Co-Operative Banking, by Indian Institute of Banking &Finance (IIBF) Publisher: Macmillan Publishers India (2010) Co-Operative Banking, Its Principles and Practice: With a Chapter on Co-Operative Mortgage-Credit [1907] [Paperback] Henry W. (Henry William) Wolff (Author) Publisher: Cornell University Library (September 22, 2009) Co-Operative Banking Publisher: New Central Book Agency Pvt. Ltd .(January 1, 2010).

WEBLIOGRAPHY:

http://www.jaihindbank.com/About_Us.aspx?page=aboutus&&aboutus=y http://www.cedarconsulting.com/pdf/newsevents_pdf/Impact%20on%20Indian%20Banking%20v1.pdf http://www.managementparadise.com/forums/banking-insurance-final-100-marksprojects/73073-impact-gloablisationon-indian-banking-sector.html http://www.steema.com/gallery/charts/4 http://www.scribd.com/doc/54931284/9/Structure-of-Co-operative-Banking-System-in-India

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