THE AHMEDABAD DISTRICT CO-OPERATIVE BANK LTD. NEAR GANDHI BRIDGE, OPP. INCOME TAX OFFICE, ASHRAM ROAD,AHMEDABAD – 380009. TEL NO. 27542608-09-10-11, FAX NO. (079) 27541651 (REG NO. 3896-7 DATED 09-03-1925) BRIEF HISTORY OF THE BANK This bank was originally registered as the Dascroi Taluka Co-opearative Federation in 1922. The above federation was financed by the Apex Bank for on-lending to the affiliated societies.
In year 1925,the federation was given name of Dascroi Co-operative Union and objects of this union were identical to that of the District central Co-opearative Bank, and subsequently in 1937 amendments were made in the bye-laws of the union and the bank started working as Ahmedabad Central Co-operative Bank Ltd. This bank become full fledged central financing agency for Ahmedabad District in 1954 and since 1964 it is known as AHMEDABAD DISTRICT CO-OPERATIVE BANK LTD. The Gandhinagar District was included in its area of operation in March,1966.
The bank is purely a federal body in its structure as only co-operative societies can be members and individuals are enrolled as nominal members only. The bank is managed by the elected board of directors, which consist of 22 members representing different types of societies affiliated with the bank. The board has various sub-committees for transacting different types of business. The bank’s Chairman and Vise-Chairman are elected by the Board. The General Manager of the bank is the Chief Executive Officer of the bank.
Most of the directors are elected unopposed. The present Chairman Shri Ajaybhai Patel is being unanimously elected unopposed for the third time in succession since 2003. Under his dynamic leadership the management of the bank has been more transparent. In economic liberalization, the banking scenario has changed a lot and competitors has become more severe, in addition the co-operative banks have been included in Income Tax net along with the other more professionally managed banks. All these have put a tremendous pressure on profitability of the bank.
Under these circumstances our chairman is successful in leading the bank to a commendable position by his leadership and farsightedness. The bank with 84 years of its presence in and around Ahmedabad and Gandhinagar Districts has centred to the banking needs of the farmers and other villagers which has resulted in sizable increase in the deposits of the bank. The bank has also made special efforts for mobilization of the deposits by cultivating habits of savings in the rural area. The bank has a wide network of 140 branches and 3 extension counters across two districts under its jurisdiction as on 31-03-2009.
This bank has opened branches not only at taluka and business centers but also in the smallest centers in the rural area with a consideration to serve farmer community, who were deprived of banking facilities. We have 80 branches in rural area and 60 branches in urban area. The bank has its own building in prime location situated just opposite new office building of Reserve Bank Of India, Ahmedabad. It is a multi-storied banking facilities including safe deposit lockers. The Head Office and Main Branch of the bank function from this building.
The 45 branches of the bank are functioning from their own building. The bnak also provides safe deposit locker facilities at 93 branches. The authorized share capital of the bank is 8000. 00 lakh divided into 80 lakh shares of Rs. 100/- each. The paid up share capital of the bank es on 31/3/2009 was Rs. 5501. 26 lakh. The membership of the bank as on 31st march,2009 includes 6618 different types of co-operative societies from two districts. The total deposits of the bank as on 31st march,2009 were to the tune of Rs. 259001. 86 lakh and Advance at Rs. 99309. 6 lakh, including Agricultural Finance of Rs. 43022. 16 lakh respectively. The total low cost deposits of the bank were Rs. 928 crore as on 31/3/2009. The percentage of low-cost deposits to total deposits of the bank is at commendable 35. 83%. The total number of deposits as on 31-3-2009 is 847822. This is the result of confidence of the deposits and members in the bank and in its Management. To augment the profits of the bank has stated non-farm advance since 1999. There is a gradual increase in Non-farm advance. The maximum individual loan limit is Rs. 0. 00 lakh and Rs. 12. 00 lakh in urban and rural areas respectively. Our investment in Government Securities as on 31-3-2009 is Rs. 11110. 54 crore. Ahmedabad is a Mega Industrial city and Gandhinagar is State Capital, therefore, there are number of salary-earners and urban credit co-operative societies in our jurisdiction. There are good number of urban co-operative banks in Ahmedabad and Gandhinagar districts,of which 82 urban co-operative banks are members of our bank, out of which 23 urban co-operative bank are our sub-members in clearing house.
Shri Ajaybhai Patel who has been elected unopposed for the last three tems, on assuming the chame for the first time as a Chairman on 06-01-2003, introduced action plans to improve the profitability of the bank and impressed upon the importance of recovery in NPAs. Under his leadership for the first time in the co-operative sector in the State “Lok Adalat” was used to settle chronically overdue accounts and it received good response from the borrowers. The staff of the bank was given training and seminars were organised to improve their knowledge/working capabilities.
As a result during the year there was considerable improvement in mobilization of low cost deposits and increase in non-farm credit. During the year low cost deposit registered an incredible growth of Rs. 111 crore and touched Rs. 928 crore, which formed 35. 83% of the total deposits of the bank, it is comparable to the best in the banking industry. This has direct learning on the profitability of the bank which stood on Rs. 8. 46 crore as on 31-03-2009. The bank has declared dividend at 9% for the year 2008-2009.
The Bank has organised various study tours to various districts of the State for the progressive farmers of the member societies to enable them to visit various Agricultural Institutions and familiarize with the latest technology in agricultural and to receive guidance in value added crops. The knowledge gained from these study tours will help the farmers to guide their own societies in their village and improve their working. Under the NABARD guidance and as envisaged the Revival Package Scheme, the Bank has arranged for the training Secretanes of 546 member societies of the bank.
The bank has submitted a total amount about Rs. 80 crore under Revival Package, of which an amount of Rs. 28 crore in respect of Category ‘A’ societies have been received, which was passed on to the respective societies on the same day. Similarly we have received Rs. 24. 01 and Rs. 26. 35 crore on 04-04-2009 in respect of category ‘B’ and ’C’ societies respectively which was also passed on to them on the same day. Under Agriculture Debt Waiver and Debt Relief Scheme 2008, our bank has submitted claims of Rs. 41. 82 crore in respect of 14,790 Small and Marginal farmers and Rs. 7. 17 crore for 22,864 other (Big) farmers within the prescribed time limit, of which claims of Rs. 23. 42 crore and 17. 25 crore in respect of small and marginal farmers and other (big) farmers respectively were received and disbursed to them on the same day. The various Schemes of Central Government and NABARD such as Kisan Credit Card, Self Help Groups, Farmers Club, Crop Insurance, Group Insurance, Rural Group Accident Insurance etc. are implemented by the bank. The bank is always trying to help the all around progress of farmers under its area of operation.
In this modern age of Globalization, Liberalization and Computerization our bank is one of the few DCCBs in the State, which is fully computerized. With a view to computerize the working of the member service co-operative credit societies also, the bank has provided computers to all the member societies at a token rent of rupee one per annum. This will facilitate the societies to keep their account accurate and up-to date and improve their customer services. The bank is also trying to make each branch a result oriented profit making unit.
The bank has fulfilled all the banking parameters and started making profit in real terms. The intristic value of the bank has increased. Thus under the leadership of Chairman Shri Ajaybhau Patel and guidance of members of the Board during the last six years, the bank has achieved all the targets in mobilizing low cost deposits, recovery of long over dues and reduction in NPAs. The secured non farm advances of the bank also increased. All these factors have helped the bank to make all-round progress and to gain financial strength. At present the ADC Bank is the No. DCCB of the Gujarat and one of the leading DCCB of the Country. INTEREST RATES OF DEPOSITS APPLICABLE SINCE 14-08-2009 Sr. No. | PERIOD| Rate Of Interest For Normal Depositors(%)| Rate Of Interest For Senior Citizen Depositors(%)| 1| 15 DAYS TO 45 DAYS| 3. 25| 3. 25| 2| 46 DAYS TO 90 DAYS| 4. 25| 4. 25| 3| 91 DAYS TO 179 DAYS| 5. 25| 5. 25| 4| 180 DAYS TO 1 Year| 6. 25| 6. 25| 5| 1 YEAR TO 2 YEAR| 7. 00| 7. 00| 6| 2 YEAR TO 5 YEAR| 7. 25| 7. 25| PROGRESS OF THE BANK DURING LAST FIVE YEARS (AMOUNT IN LAKHS) SR. NO. | PARTICULRS | 31. 03. 2005| 31. 03. 006| 31. 03. 2007| 31. 03. 2008| 31. 03. 2009| 1| AUDIT CLASSIFICATION| A| A| A| A| A| 2| NO. OF BRANCHES| 136| 134| 133+ 5 EX. COUNTERS| 135+ 6 EX. COUNTERS| 140+ 3 EX. COUNTERS| 3| NO. OF MEMBERS| 5620| 5676| 5713| 5737| 6618| 4| SHARE CAPITAL| 5064. 69| 5205. 94| 5303. 62| 5497. 48| 5501. 28| 5| RESERVE FUND| 1891. 69| 1912. 74| 2193. 91| 2378. 54| 2614. 83| 6| OTHER FUNDS| 19729. 67| 18420. 82| 18664. 45| 18436. 58| 20028. 51| 7| DEPOSITS| 154455. 98| 159931. 64| 177388. 23| 217167. 12| 259005. 34| 8| BORROWINGS| 2260. 65| 5458. 80| 16363. 34| 2857. 3| 1162. 15| 9| AGRICULTURAL FINANCE| 40364. 39| 43264. 94| 43581. 18| 44285. 12| 43022. 16| 10| ADVANCES| 79484. 92| 81503. 22| 99622. 29| 93734. 98| 99375. 44| 11| MANAGEMENT EXPENSES| 3165. 90| 3410. 09| 3695. 51| 4068. 45| 4613. 54| 12| PROFIT / LOSS| -822. 01| +1016. 44| +730. 90| +761. 97| +846. 75| 13| DIVIDEND| -| 9%| 9%| 9%| 9%| 14| WORKING CAPITAL| 193019. 12| 200188. 14| 227991. 14| 257789. 79| 298926. 09| 15| LOW COST DEPOSITS| 45107. 55| 54474. 40| 66418. 18| 81741. 22| 92750. 94| 16| FUND COST| 6. 20%| 5. 60%| 5. 87%| 6. 52%| 6. 64%|