Chapter - 5
FINANCIAL PERFORMANCE OF VITTHALA1 MAH I LA SAHAKARI PATSANSTHA, KH. TARALE
5.1 Introduction
5.2 Financial Performance of Vitthalai Mahila Sahakari Patsanstha Kh. Tarale
5.2.1 Membership 5.2.2 Capital Structure 5.2.3 Working Capital 5.2.4 Owned Capital
5.2.5 Response of the Public to various Deposits Schemes 5.2.6 Special Efforts for Increasing Deposits
5.2.7 Factors Responsible for the Expansion of Deposits 5.2.8 Structure of Various Types of Deposits.
5.2.9 Progress of the Branches 5.2.10 Loans
5.2.11 Investment
5.2.12 Investment Structure 5.2.13 Profit
5.2.14 Outstanding Dues
5.2.15 Dues of Different Branches 5.2.16 Audit Rating
5.3 Conclusion
Chapter - 5
FINANCIAL PERFORMANCE OF VITTHALAI MAH I LA SAHAKARI PATSANSTHA, KH. TARALE
5.1 Introduction
The co-operative credit societies in India were started due to co-operative Act of 1904. In order to solve the problem of farmers co-operative societies were started. The purpose of co-operative society was to provide loans to farmers and farmers should not spend money on unproductive purposes. At the same time Raiffension societies were functioning on same line sin Germany.
The present study mainly concentrate on the progress made by the Shri Vitthalai co-operative credit society, Kh. Tarale. While studying financial progress researcher considered the various aspects of the society like own fund, members, working capital, deposits, investment, loans, profit etc. Percentage change and analyses have been used to interpret the data.
5.2 Performance of Financial Performance of Vitthalai Mahila Sahakari Patsanstha, Kh. Tarale
Shri Vitthalai Sahakari Patsanstha made significant progress
in banking sector of Radhanagari and Kolhapur. The society has provided
better services to poor people. It has provided the loans to cottage
industries, large scale industries, agriculture, transport, artisans etc.
5.2.1 Membership
According to by-laws of the society to become member must have to fulfill following terms and conditions.
1. The person should complete the age of 18 years and he should enter into contract.
2. He should be the resident of jurisdiction.
3. He must have good behaviour.
4. He must have good credit, he should not be debtor of Government, he should not be charge sheeted by criminal act.
5. Membership should be accepted by majority.
6. He should fulfill the terms and conditions of the by-laws of the society.
The following table shows the increase in membership of the society.
Table No. 5.1 shows the changes in members of the society. The membership has increased registering the growth rate of 11.94 to 26.14 percent during 1991 to 1997. After 1997 onwards membership has increased marginally whereas it has increased rapidly by 16.48 percent in 2002. society has paid much attention to B category members rather then A category.
Table No. 5.1 Number of Members
Year No. of Members Annual increase
1991 745 -
1992 834 11.94
1993 933 11.87
1994 972 4.18
1995 1190 22.42
1996 1220 2.52
1997 1539 26.14
1998 1542 0.19
1999 1551 0.58
2000 1563 0.77
2001 1547 1.02
2002 1808 16.48
2003 1814 0.55
Source : Annual Reports of Vitthalai Mahila Sahakari Patsanstha Ltd., Kh. Tarale for the period 1990-91 to 2002-03
5.2.1 Capital Structure
Capital is essential for any co-operative society. The objective of the society is to provide service but not to earn profit.
Classification of Capital
Co-operative societies can raise the fund by two ways.
i) Internal capital
It consists of share capital, reserve fund and other funds.
Some times deposits also included in the internal capital.
ii) External capital
External capital indudes loans from other financial institution.
5.2.3 Capital Structure
Vitthalai Mahila Sahakari Patsanstha, Kh. Tarale has raised the funds in the following way.
1. Share Capital 2. Government 3. Deposits 4. Loan 5. Donation
6. Admission Fees Share Capital
Sharpe capital can be raised by selling of the shares to individual members and other co-operative societies. Co-operative Society can raise maximum fund according to the rule of the by-laws. Such type of capital is called authorised capital. Part of authorised capital which sold is called issued capital. The share capital which are allowed according to their demands is called subscribed capital. The collected amount from the shareholders is known as called up capital.
Working Capital
Working capital includes, share capital, reserve fund, all types
of deposits, deposits from other financial institutions, discounting of bills,
interest on loans etc. progress of credit society depends on the working
capital. Investment, capacity of the loan can be increased by increase in the working capital.
The progress of the working capital of Vitthalai Mahila Sahakari Patsanstha, Kh. Tarale is as follows.
Table No. 5.2 Working Capital
Year No. of Members Annual Change
1991 4947200 -
1992 10622090 114.70
1993 17788795 67.46
1994 30111190 69.27
1995 62280971 106.83
1996 80874135 39.48
1997 117893685 35.70
1998 159701137 35.46
1999 200201445 25.37
2000 234186546 16.97
2001 244926064 4.58
2002 233879205 -4.51
2003 216230066 -7.5
Source: Annual Reports of Shri Vitthalai Mahila Sahakari Patsanstha Ltd., Kh. Tarale for the period 1990-91 to 2002-03
Table No. 5.2. shows the working capital. Working capital is fluctuated during the period. It has been increased from 114.70 percent to 106.83 percent during 1991 to 1995. But it has been rapidly declined from 35.70 percent to - 4.51 percent during 1996 to 2003.
5.2.4 Owned capital
In urban co-operative banks and co-operative credit societies, owned funds, loans funds are important. Own capital includes, called up capital, funds from profit. As per the by-laws of urban co-operative banks 25 percent of the funds will be included in reserve fund. Reserve fund includes, commission fees, ordinary member fee, share, dividend, interest and grants. According to the co-operative act and banking laws provisions are to be made in respect of various funds. Reserve fund is to be invested elsewhere. Co-operative societies was the part of profit is used of specific purposes. Profit is distributed in building fund, bad debts, suspense fund, investment, depreciation, welfare fund, festivals etc. General Body must have to approve it.
Owned capital is foundation of sound cooperative societies.
The efficiency of the society is depending upon the increase in reserve funds. Part of fund is spent on education, cultural and social activities.
The following table shows the performance of own capital of Vitthalai Mahila Sahakari Patsanstha, Kh. Tarale during 1990-91 to 2002-03.
Table No. £3 indicates owned capital, called up capital and share capital.
a) Paid up Capital
Paid Up Capital has increased from Rs. 367450 to 621185 during 1990-91 to 2002-03 registering growth rate of 67.93 percent to 66.98 percent during the period. Paid Up Capital has increased rapidly due to increase in membership.
T a b le
No.5.3Own C a p ita l
AnnualIncrease 74.08 75.25 72.34 28.81 38.11 27.39 30.77 36.23 17.32 7.45 8.15 17.05Annualincreasein ReserveFund& OtherFunds 102.47 86.38 83.18 28.98 126.02 59.27 63.39 9SSS 23.94 CM
CO
o 4.64 r~
r-'
AnnualIncreasein PaidUpCapital 67.93 72.46 69.40 28.76 12.24 OS'8 2.40 9.40 4.23 o
o 17.16 66.98
TotalCapital 444150 773185 1355035 2335277 3008059 4154433 5282429 6920824 9428147 1060695 11884318 12852291 15044697
ReserveFund& OtherFunds 76700 155295 289445 530212 683869 1545738 2461959 00
h-Tf CMCM
O 6257332 7755655 8556018 8952721 8833112
PaidUpCapital 367450 o
CO00 c-*■*
<D 106
5590 1805065 2324190 2608695 2830478 2898346 3170815 3304990 3328300 3899570 6211885
Year 1990-91 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-2000 2000-01 2001-02 2002-03 Source:AnnualReportsof1990-91to 2002-03
b) Reserve and Other Funds
Reserve capital has increased from Rs. 76700 to Rs. 8833112 during 1990-91 to 2002-03. The growth rate was 102.47 to 7.47 percent.
The Vitthalai Mahila Sahakari Patsanstha, Kh. Tarale achieved economic stability. Simultaneously total capital also increased from Rs. 444150 to Rs. 15044697 during the period.
The co-operative society can raise the funds from external sources also. Deposits are important source of funds. There are two types of deposits. Society can change attractive rate of interest to collect the deposits. Society can accept the deposits in terms of fixed deposits for 5 years to 15 years. The society can raise the funds with low cost.
The rate of interest is low on deposits compared to loans.
Deposits
Vitthalai Mahila Sahakari Patsanstha, Kh. Tarale accepts following types of deposits.
1. Fixed Deposits
2. Dam Duppat Deposits 3. Recurring Deposits.
These are the important sources of capital to the society. General public should save the money and they should not spend money on unproductive purposes. Trust and faith will lead to increase in co-operative movement.
5.2.6 Response of the Public to the Various Deposit Schemes
In order to facilitate the public society adopted different deposits schemes, like Pigmy, Recurring, Sam Duppat, Sam Tippat, etc. there are also some new schemes have been introduced by the society. A new scheme 'Shri Vitthalai Dam Duppat Bhet Vastu Deposit Scheme was introduced by the society. Attractive gift is given on the deposit. There is a good response to this scheme. After getting good response it has been stunted in other branches also.
Amrutdhara Deposit Scheme
Milk is considered as Amrut. It is considered as primary occupation in rural area. Farmers get their payment three times in a month.
Some money is taken from the bill, after maturity the entire money repaid.
The co-operative society is getting the response from the farmers.
Shubhmangal Deposit Scheme
This long term deposits are used in marriages of sons and daughters. The society is also getting the good response to the scheme.
Saprem Bhet Yojana
It is just like Shubhmangal deposit scheme. In this scheme instead of giving a gift in kind or cash deposit certificate is given.
Through this society every year common marriages are arranged since 1993. 71 marriages are arranged and celebrated and couples are given certificates of deposits. Similarly there auspicious ceremony in the staff members, other employees give them gifts in the form of certificates.
It is getting good response.
Vitthal Rukmini Pension Deposit Scheme
A depositor deposing an amount daily or monthly for continuous 4 and 4.5 years will get the pension life long of the same amount daily or monthly, similarly the original deposit amount will be given to them.
This scheme is also getting good response from shopkeepers and employees.
5.2.7 Special Efforts for Increasing Deposits
Deposit mobilization is sole of the society. On account of deposits other operations becomes smooth. Therefore special efforts are required for both of the deposits.
Spread of Recurring Deposits
TheC * ■ bank was established at the time when people were not at all familiar with banking business. ^ 'staff members visited different houses
ThCin village and convinced them importance of saving. They started collecting amount in the form recurring deposits. After maturity amount was repaid along with interest and new deposits were accepted. Door to door bank i. e. mobile banking stressed importance of recurring deposits, people become finally secured on account of the scheme and they started doing other transactions with society. Naturally other types of deposits could be collected.
5.2.8 Factors Responsible for the Expansion of Deposits
The following factors are responsible for expansion of deposits.
1. Efforts have been made by board of directors and General
Manager to increase the deposits.
2. society has good relations with public and public has the faith on the co-operative society.
3. because of the greater trust of the public on the society is also responsible for the expansion of deposits.
Deposits
Table No. 5.4 indicates deposits of the society.
Table No. 5.4 Deposits
Year Deposits Increase in
Deposits
Percentage Change
1990-91 4449580
- -1991-92 9398949 4949369 78.87
1992-93 14437693 5038744 53.60
1993-94 25331133 10893440 75.45
1994-95 55116038 29784905 17.58
1995-96 76764136 478357902 38.28
1996-97 102958028 26193892 34.12
1997-98 138000662 35042634 34.03
1998-99 186524945 58524283 35.16
1999-2000 219485704 32960759 17.67
2000-01 228026398 8540694 3.89
2001-02 216242365 -11784033 -5.16
2002-03 203567458 -12674909 -5.86
Source : Annual Reports of Shri Vitthalai Mahila Sahakari Patsanstha Ltd., Kh. Tarale for the period 1990-91 to 2002-03
Following observations have been drawn form the above table.
1. There was a fluctuation in deposits.
2. Deposits have been increased positive change is observed.
3. Deposits have increased from Rs. 4449580 to Rs. 203567458 during 1991 to 2003. The marginal increase was in the range of Rs. 4949369 to Rs. 478357902 during the period. Positive change was observed from 1991 to 2000, whereas there minus growth in deposits i. e. - 5.86
in 2003.
In short during period 13 years there was as ups and down in deposits of Vitthalai Mahila Sahakari Patsanstha. Due to reduction rate of interest by the RBI banks and cooperative societies also reduced the reduced the rate of interest. In Maharashtra Bhudargad cooperative credit with deposits of Rs. 250 crores was on the verge of conversion of bank, but scandal took place in that society. As result it was also affected other cooperative societies. There are also some credit societies involved in scandals. It was also affected the better off societies. Hence cooperative societies have a limitations, which results into decline of deposits, loans and profit. Similarly Vitthalai Mahila Sahakari Patsanstha also putting restrictions on deposits, loan, income and investment.
T a b le
No.5.5S tr u c tu re o f Deposi ts
Source:AnnualReportsof1990-91to 2002-03Percentage
< • * l t ■om-
o'
900 <oo d
zo o -
600 0.14 0.18 COCMo
Provident Fund
< t 1 1 •
37850 67500 86300 137450 219901 293540 386238 476645
Percentage
<
20.67 5.78 1.28 8.04 oo
6.38 5.42 4.52 4.35 4.24 4.62
If)
CO CO
Savings Deposits
i
795432 1127903 2527701 4813060 5770934 6566053 7475370 8439028 9757293 9101597 9605792 16994874
Percentage
•
oeo 13.87 0.01 8.27 7.03 6.45 6.22 5.25 5.70 5.32 5.28 • 4.48
Current Deposits
• 11368 2708946 22083 4948342 5792996 6637466 8584774 9770367 10553535 11402766 10974109 oCM
CD CO o>
Percentage
•
79.03 80.35 98.71 l______________________ 83.69 85.93 87.11 88.30 90.16 90.85 90.30 90.40 86.94
Fixed Deposits
•
8040804 15687679 195623300 50097283 70836706 89684009 121854218 198177986 203849363 193707447 195491619 176982317
Year 1990-91 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-2000 2000-01 2001-02 2002-03
5.2.9 Structure of Various Types of Deposits
Co-operative societies long term deposits. These deposits consists of fixed deposits, saving deposits, current deposits, etc. the classification of Vitthalai Mahila Sahakari Patsanstha deposits are as under.
Table No. 5.5
Table No. 5.5 indicates structure of the deposits. Fixed deposits have increased from Rs. 8040804 to Rs. 176982317. During 1992 to 2003 the annual growth was constant which was in the range of 80 percent to 98 percent. Similarly current deposits also increased from Rs. 11368 to Rs. 911620. The annual growth slowly declined from 13.87 percent to 4.48 percent during the period. The deposits of savings has also increased from Rs. 795432 to Rs. 16994872 maintaining constant annual growth rate around 4 percent to 5 percent. PPF of employees was increased from Rs. 37850 to Rs. 476645 during 1995-96 to 2000-03. The growth rate was 0.04 percent to 0.23 percent.
In sort fixed deposits have increased as compared to other deposits. Similarly increase of saving and current deposits are equal but recently current deposits have increased. Provision of PPF for employees has been made by the society. In total deposits PPF share was low but it was marginally increased.
T a b le
No.5.6D e v e lo p m e n t o f Bran ches (31-3-2 003)
Source:AnnualReport of2003Percentage
■ 8.22 1.90 0.93 14.37 50.03 9.63 1.87
CO
0.82
Investment
I
§o oo
CMCM 510000 o oo o■n
CM 3848731 13400000 o oo o
«nCO
CM 500000 1975000 220000
Percentage
• 21.67 8.24 4.32 13.86 29.64 5.89 6.18 I 5.08' 5.17
Loans
■
31657917 12068490 6327203 20294654 43404488 8632040 9055006 7446801 7564530
Percentage
i
17.89 6.95 4.91 13.56 29.86 7.45 4.51 o
o
4.26
Deposits
«
36425938 14141523 9998133 27606046 60785996 15167197 9198137 14247811 8672150
Percentage 10.5 15.99 6.23 00
CM
11.91 29.76 6.54 4090 909 4.27
Working Capital 23779300 37808329 14728152 10119705 28154978 70365664 15468505 11581759 14348104 10087840
Branch MainOffice Kh.Taraie Radhanagari Shirgaon RashivadeBk. SaneGuruji Shivswarupnagar Bidri Kale KankavaliExtn.Counter
5.2.10 Progress of the Branches
There are 8 branches of Vitthalai Mahila Sahakari Patsanstha.
The progress of the branches is as under
Table No. 5.6 shows the progress of the branches achieved as on 31.3.2003. each branch has made remarkable progress in terms of working capital, deposits, loans, investment etc.
Working Capital
The maximum working capital was branch of Saneguruji (Kolhapur) i. e. 29.76 percent and the lowest working capital was in Shirgaon branch i. e. 4.28 percent.
Deposits
The maximum deposits i. e. 29.86 percent belongs to branch of Saneguruji (Kolhapur) whereas lowest was in the Shirgaon i. e. 4.91 percent.
Loans
The maximum loan was advanced by branch of Saneguruji (Kolhapur) i. e. 29.86 percent. The maximum loan was advanced by Shirgaon i. e. 4.32 percent.
Investment
The highest investment was made by branch of Saneguruji (Kolhapur) i. e. 50.03 percent. Whereas lower share of 0.82 percent was found in Kankawali extension counter.
Taking into account of the progress of the society branch
of Sanegurjji (Kolhapur) branch has achieved remarkable progress.
5.2.11 Loans of Vitthalai Mahila Sahakari Patsanstha
Whatever the amount deposited in the society, the same advanced to individuals, agriculturist, businessmen, and industrialist. The rate of interest changed on the loans is higher than deposits. While advancing the loans, cooperative society considers, debtors individual credit, purpose of the loan, nature of the business, repayment capacity, nature of security etc.
There are to types of loans and advances 1. Short term loans
2. Long term loans.
Capital equipments are used in the process of production.
For capital equipments like machinery short term loan are given.
In addition, subsidiary business of agriculture like dairy farming, poultry farming also sort term loans are advanced. Even for the sale of goods and storage loans are advanced.
Vitthalai Mahila Sahakari Patsanstha has also advanced the loans, industrialists, entrepreneurs, businessmen, salary earners, etc.
gWe. fVi.
The society also [ ' ~ loan housing at low rate of interest.
A
Table No. 5.7 Loans Distribution
Year Loans Annual Change
1990-91 4192554 -
1991-92 8977180 144.12
1992-93 13518575 51.28
1993-94 22065103 62.46
1994-95 49767351 125.54
1995-96 69137649 38.92
1996-97 85375852 23.48
1997-98 114959199 34.65
1998-99 144257421 25.48
1999-2000 163517619 13.35
2000-01 181196268 10.81
2001-02 168677708 99.06
2002-03 146451121 13.16
Source : Annual Reports of Shri Vitthalai Mahila Sahakari Patsanstha Ltd., Kh. Tarale for the period 1990-91 to 2002-03
Table No. 5.7 indicates loans disbursed to the businessmen, industrialists, entrepreneurs, salary earners etc. The loans has been increased from Rs. 4192554 to Rs. 168677708, in the year 1990-91 to2001-02 but percentage change is fluctuating. At initial stage it was higher. It was increased from 144.12 percent to 125.44 percent and same was declined to - 99.06 percent in 2001-02. While sectioning loan, the cooperative society has to consider the policy of RBI, loans security, liquidity and profitability, repayment capacity etc.
In order to satisfy the needs of the public Vitthalai Mahila Sahakari Patsanstha provide loan to various sections of the society. Society has provided loans to industrialists, small scale industries, self employment,
employees of the society, shopkeepers, cloth merchants, etc. In order to raise the standard of living of the weaker section of the society even student want to visit abroad also provided loan.
5.2.12 Investment
The cooperative must have to invest the money in various types of investments. The Vitthalai Mahila Sahakari Patsanstha has invested the money in various securities.
Table No. 5.8 Investment
Year Investment Annual Change
1990-91 32075 -
1991-92 41075 28.05
1992-93 154150 275.29
1993-94 11583 651.45
1994-95 48520 318.87
1995-96 39473 - 18.65
1996-97 172480 336.96
1997-98 234062 35.70
1998-99 379165 61.99
1999-2000 483404 27.49
2000-01 410032 -15.17
2001-02 437219 6.63
2002-03 267800 - 38.75
Table No. 5.8 shows the investment in various securities. The investment of the society has increased from Rs. 32075 to Rs. 267800 during 1991 to 2003. The percentage over the previous period was fluctuating. It was higher in 1994, i. e. 651.45 percent but it was rapidly declined by 38.75 percent in 2003.
T a b le
No.5.9In v e s tm e n t Stru cture
2002 6472000 (15.62) 34953781 (84.38) 41425781 (100.00) 50 (0.04) 25 (0.02) 1000 (0.91) 3075 (2.81) 100225 (91.63) 5000 (4.57)2001 8500000 (21.70) 3066247 (78.30) 39162471 (100.00) 50 (0.04) 25 (0.02) 1000 (0.95) 100225 (96.09) 3000 (2.88)
2000 9850000 (21.15) 36726159 (78.85) 46576159 (100.00) 50 (0.04) 25 (0.02) 1000 (0.95)
1
100225 (96.09) 3000 (2.88)
1999 2039644 (5.57) 34954917 (94.49) 36994561 (100.00) 50 (0.04) 25 (0.02) 1000 (0.95)
1
100225 (96.09) 3000 (2.88)
1998 2420000 (10.79) 20003728 (89.21) 22423728 (100.00) 50 (0.04) io 8
CM ■
O 1000 (0.95) 1
100225 (96.09) 3000 (2.88)
1997 3803000 (22.580 13039872 (77.42) 16842872 (100.00) 50 (1.63) 25 (0.61) 1000 (24.54) 1 I
3000 (73.62)
1990 7650000 (71.80) 3004298 (28.20) 10654298 (100.00) 50 (1.63) 25 (081) •1000 (32.52)
- 1
2000 (65.04)
1995
•
4294355 (100.00)
1 50 (1.63) 25 (0.81) 1000 (32.52)
' 1
2000 (65.04)
1994
f
4294355 (100.00)
1 50 (1.63) 25 (0.81) 1000 (32.52)
t t
2000 (65.04)
1993 '
1100000 (100.00)
1 50 (1.63) 25 (0,81) 1000 (32.52)
1 I
2000 (65.04)
1992 1
24000 (100.00)
•
(£91.)
OS 25 (0.81) 1000 (32.52)
1 1
2000 (65.04)
.1991 •
15000 (100.00)
1 50 (1.63) 25 |(0.81) i__________ 1000 (32.52)
- 1
2000 (65.04)
Particulars Govt.Bonds KDCCBank Nationalise& UrbanBanks Total Shares Investment KDCCBank Radhanagari TalukaShetkari Sangh Mouni Vidyapeeth Bhudargad Sakhar Karkhana IndiraGandhi Sakhar Karkhana Bhogawati Sakhar Karkhana
458000 (67.22) 140000 (19.01) 101380 (13.77) 736437 (100.00) 43721986
455000 (67.22) 140000 (19.01) 101437 (13.77) 736437 (100.00) 41003208
520000 (78.79) 140000 (21.21) 660000 (100.00) 48340459
520000 (72.46) 140000 (19.51) 51600 (7.19) 6075 (0.84) 7176675 (100.00) 37916536
475000 (22.45) 1375000 (64.99) 51600 (2.44) 5075 (0.24) 209000 (9.88) 2115675 (100.00)
COo
CM CO O CO CM
*
1375000 (96.15) 50000 (3.50) 5075 (0.35)
'
1430075 (100.00) 23406203
• *
50000I (66.67) ..i 25000 (33.37) 75000 (100.00) 3947383
» 1 »
3075 (10.95) 25000 (89.04)
1
28075 (100.00) 4852063
» 1 •
25000 (45.22) 30285 (57.77)
1 1
85285 (100.00) 1158360
1 1 1
25000 (95.88) 1075 (412)
• 1
26075 (100.00) 154150
1 1 1
25000 (100.00)
' 1 1
25000 (100.00) 43075
1 1 1
25000 (100,00)
1 1 i
25000 (100.00) 43075
g
»
11
£IndiraVikas Patra Maharashtra KrishnaKhore AccidentAid Fund(KDCC) MSEB BSNL KisanVikas Patra Reserve InvestmentFund Total TotalInvestment
5.2.13 Investment Structure
The table No. 5.9 gives the in detail of investment of Vitthalai Mahila Sahakari Patsanstha. The society invested in various types of securities.
a) Government Securities
Table No. 5.9 shows the investment in KDCC Bank was 71.8 percent and the same was 28.2 percent in nationalized banks.
During 2002-03 the total investment in KDCC Bank was 19.79 percent and nationalized bank it was 80.21 percent.
b) Share Investment
Society has invested in bank shares, Mouni Vidyapeeth, Gargoti shares, Indira Gandhi Sugar factory, Bhogawati sugar Factory etc.
The total amount of investment in Indira Gandhi sugar factory is Rs. 10025 i. e. 91.63 percent.
c) Other Types of Investment
The other types of investment include Indira Vikas Certificate, Krishna Khore Bond, Accident Assistance fund, MSEB, BSNL, Kisan Vikas Certificates.
Total investment in Indira Vikas certificate is Rs. 22.45 percent, whereas in Indira Vikas Certificate it was 72.46 percent (Rs. 520000) in 1999.
In 1997 total investment in Krishna Khore Bond was Rs. 137500
(96.15 percent) and the same has decreased to 64.94 percent.
The reserve fund was Rs. 1000000. the ratio of reserve fund was 53.76 percent, and remaining amount was in Indira Vikas Certificate (9.14 percent) and in Krishna Khore it was 7.53 percent in 2003.
5.2.14 Profit
The primary aim of commercial banks is to earn profits. But the co-operative credit societies are run on the prindple of no profit no loss.
Vitthalai Mahila Sahakari Patsanstha. Kh. Tarale is also run on the same principle of no profit no loss. The Table No. 5.10 shows the profit of Vitthalai Mahila Sahakari Patsanstha.
Table No.5.10 Profit
Year Profit Increase in profit Annual change
1990-91 52534 - -
1991-92 114132 61598 117.25
1992-93 227098 112966 38.98
1993-94 347922 120824 53.20
1994-95 656434 308512 88.67
1995-96 11136 645298 98.30
1996-97 19060 7924 71.16
1997-98 24428 5368 28.16
1998-99 138700 142272 467.79
1999-2000 522218 383518 276.51
2000-01 437377 84341 16.25
2001-02 526946 89569 20.48
2002-03 423085 103861 11.71
Source: Annual Reports of Shri Vitthalai Mahila Sahakari Patsanstha Ltd., Kh. Tarale for the period 1990-91 to 2002-03
In 1992 the society earned profit of Rs. 114132. It increased to Rs. 522218 in1999-2000. The profit of the society further increased to Rs. 526946 in 2001-02. then it has declined to Rs. 423085 in the year 2002-03.
Outstanding Dues
Dues have become main problem for the cooperative society, if dues of the society increases then its future will be in danger.
Table No. 5.11 Dues
Year Dues Annual Change in
Dues
Percentage to Loan
1990-91 - -
1991-92 - - -
1992-93 1381710 - 10.17
1993-94 1302839 5.63“ 5.58
1994-95 2012750 54.37 3.65
1995-96 2484455 23.44 3.65
1996-97 25017576 906.96 17.1
1997-98 24108165 3.64 20.97
1998-99 33211320 37.76 17.1
1999-2000 31095510 6.37 19.0
2000-01 44399032 42.78 24.50
2001-02 52519610 18.29 31.13
2002-03 21369326 59.31 14.58
Source: Annual Reports of Shri Vitthalai Mahiia Sahakari Patsanstha Ltd., Kh. Tarale for the period 1990-91 to 2002-03
Table No. 5.11 shows the dues of the society. The dues of the society has increased from Rs. 1381710 to Rs. 21369326 during 1992-93 to 1996-97 the annual growth was 5.63 percent and 906.96 percent respectively. After 1997 due have been rapidly declined to 59.31 percent in 2002-03. The ratio to loan was higher during 1996-97 to 1997-98. again the ratio was increased to 24.50 < 31.13 percent in 2001 to 2002.
But it was rapidly declined to 14.58 percent in 2003.
Dues of Different Branches
Dues in 8 branches have shown in the following table.
Table No. 5.12
Branchwise Dues of 2002-03
Sr. No. Branch Total Dues Ratio of total
Dues
1 Kh. Tarale 5093112 16.80
2 Radhanagari 2323427 19.24
3 Shirgaon 1826350 17.9
4 Rashivade 2204944 10.86
5 Saneguruji 5053610 11.64
6 Jaragnagar 341338 4.00
7 Bidri 2297771 24.60
8 Kale 896234 12.00
9 Kankavali Extn. Counter 1330420 17.78
Total Dues 21367206 14.58
Source: Annual Report of 2002-03
Table No. 5.12 the dues of various branches. In total dues the Bidri
A
was contributing by 24.60. It was highest in all branches followed by Radhanagari 19.24 percent, Kankawali 17.78 percent. Jaragnagar was
