Cooperative banking

From Wikipedia, the free encyclopedia

"Cooperative bank" redirects here. For banks by this name, see Co-operative Bank.

A statue of cooperative pioneer Robert Owen stands in front of the Manchester head office of the
UK's Co-operative Bank
Cooperative banking is retail and commercial banking organized on a cooperative basis.
Cooperative banking institutions take deposits and lend money in most parts of the world.
Cooperative banking, as discussed here, includes retail banking carried out by credit unions,
mutual savings banks, building societies and cooperatives, as well as commercial banking
services provided by mutual organizations (such as cooperative federations) to cooperative
businesses.
Contents
1 Institutions
o 1.1 Credit unions
o 1.2 Cooperative banks
o 1.3 Land development banks
o 1.4 Building societies
o 1.5 Others
o 1.6 International associations
2 By region
o 2.1 Canada
2.1.1 Quebec
o 2.2 United Kingdom
o 2.3 Continental Europe
o 2.4 United States
o 2.5 India
o 2.6 Israel
o 2.7 Cyprus
3 Microcredit and microfinance
4 List of cooperative banking institutions
5 See also
6 References
7 External links
Institutions
Credit unions
Main article: Credit union
Credit unions have the purpose of promoting thrift, providing credit at reasonable rates, and
providing other financial services to its members.
[1]
Its members are usually required to share a
common bond, such as locality, employer, religion or profession, and credit unions are usually
funded entirely by member deposits, and avoid outside borrowing. They are typically (though
not exclusively) the smaller form of cooperative banking institution. In some countries they are
restricted to providing only unsecured personal loans, whereas in others, they can provide
business loans to farmers, and mortgages.
Cooperative banks
Larger institutions are often called cooperative banks. Some are tightly integrated federations of
credit unions, though those member credit unions may not subscribe to all nine of the strict
principles of the World Council of Credit Unions (WOCCU).
Like credit unions, cooperative banks are owned by their customers and follow the cooperative
principle of one person, one vote. Unlike credit unions, however, cooperative banks are often
regulated under both banking and cooperative legislation. They provide services such as savings
and loans to non-members as well as to members, and some participate in the wholesale markets
for bonds, money and even equities.
[2]
Many cooperative banks are traded on public stock
markets, with the result that they are partly owned by non-members. Member control is diluted
by these outside stakes, so they may be regarded as semi-cooperative.
Cooperative banking systems are also usually more integrated than credit union systems. Local
branches of cooperative banks select their own boards of directors and manage their own
operations, but most strategic decisions require approval from a central office. Credit unions
usually retain strategic decision-making at a local level, though they share back-office functions,
such as access to the global payments system, by federating.
Some cooperative banks are criticized for diluting their cooperative principles. Principles 2-4 of
the "Statement on the Co-operative Identity" can be interpreted to require that members must
control both the governance systems and capital of their cooperatives. A cooperative bank that
raises capital on public stock markets creates a second class of shareholders who compete with
the members for control. In some circumstances, the members may lose control. This effectively
means that the bank ceases to be a cooperative. Accepting deposits from non-members may also
lead to a dilution of member control.
Land development banks
The special banks providing Long Term Loans are called Land Development Banks, in the short,
LDB. The history of LDB is quite old. The first LDB was started at Jhang in Punjab in 1920.
This bank is also bassed on Co-operative. The main objective of the LDBs are to promote the
development of land, agriculture and increase the agricultural production. The LDBs provide
long-term finance to members directly through their branches.
[3]

Building societies
Main article: Building society
Building societies exist in Britain, Ireland and several Commonwealth countries. They are
similar to credit unions in organisation, though few enforce a common bond. However, rather
than promoting thrift and offering unsecured and business loans, their purpose is to provide
home mortgages for members. Borrowers and depositors are society members, setting policy and
appointing directors on a one-member, one-vote basis. Building societies often provide other
retail banking services, such as current accounts, credit cards and personal loans. In the United
Kingdom, regulations permit up to half of their lending to be funded by debt to non-members,
allowing societies to access wholesale bond and money markets to fund mortgages. The world's
largest building society is Britain's Nationwide Building Society.
Others
Mutual savings banks and mutual savings and loan associations were very common in the 19th
and 20th centuries, but declined in number and market share in the late 20th century, becoming
globally less significant than cooperative banks, building societies and credit unions.
Trustee savings banks are similar to other savings banks, but they are not cooperatives, as they
are controlled by trustees, rather than their depositors.
International associations
The most important international associations of cooperative banks, which is based in Paris, is
the International Cooperative Banking Association (ICBA), which has member institutions from
around the world, and the Brussels based European Association of Co-operative Banks.
By region
Canada
In Canada, cooperative banking is provided by credit unions (caisses populaires in French). As
of September 30, 2012, there were 357 credit unions and caisses populaires affiliated with Credit
Union Central of Canada. They operated 1,761 branches across the country with 5.3 million
members and $149.7 billion in assets.
[4]

Quebec
The caisse populaire movement started by Alphonse Desjardins in Quebec, Canada, pioneered
credit unions. Desjardins opened the first credit union in North America in 1900, from his home
in Lvis, Quebec, marking the beginning of the Mouvement Desjardins. He was interested in
bringing financial protection to working people.
United Kingdom
British building societies developed into general-purpose savings and banking institutions with
one member, one vote ownership and can be seen as a form of financial cooperative (although
many de-mutualised into conventionally owned banks in the 1980s and 1990s). The UK Co-
operative Group includes both an insurance provider, The Co-operative Insurance, and The Co-
operative Bank, both noted for promoting ethical investment.
Continental Europe
Important continental cooperative banking systems include the Crdit Agricole, Crdit Mutuel,
Banque Populaire and Caisse d'pargne in France, Rabobank in the Netherlands, BVR/DZ Bank
in Germany, Banco Popolare, UBI Banca and Banca Popolare di Milano in Italy, Migros and
Coop Bank in Switzerland, and the Raiffeisen system in several countries in central and eastern
Europe. The cooperative banks that are members of the European Association of Co-operative
Banks have 130 million customers, 4 trillion euros in assets, and 17% of Europe's deposits. The
International Confederation of Cooperative Banks (CIBP) is the oldest association of cooperative
banks at international level.
In Scandinavia, there is a clear distinction between mutual savings banks (Sparbank) and true
credit unions (Andelsbank).
United States

This section requires expansion. (July 2011)
Credit unions in the United States had 96.3 million members in 2013 and assets of $1.06
trillion.
[5][6]

India
The origins of the cooperative banking movement in India can be traced to the close of 19th
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.
Cooperative banks are an important constituent of the Indian financial system. They are the
primary financiers of agricultural activities, some small-scale industries and self-employed
workers. The Anyonya Co-operative Bank in India is considered to have been the first
cooperative bank in Asia.
Israel
Ofek (Hebrew: ) is a cooperative initiative founded in mid-2012 that intended to establish the
first cooperative bank in Israel.
[7]

Cyprus
The Co-operative Central Bank Ltd (CCB)
[8]
was established in 1937 under the Co-operative
Societies Laws and Rules having as its main purpose the provision of banking and other ancillary
services to member co-operative societies which form the backbone of the agricultural
community of Cyprus. Over the years the Bank has seen the need to expand and diversify its
activities and is now in a position to provide the full range of services normally offered by
comprehensive rural banks. The establishment of the Bank was a major event and turning point
in the development of the Co-operative Movement and has proved instrumental in eradicating
the then prevalent usury and exploitation of farmers. Its progress has been rapid and its success
beyond the expectation of the pioneers of the Co-operative Movement. In mid 2013, Cyprus Co-
operative banking system announced a major restructuring, where a list of 18 companies would
be created by merging the existing 93 Cooperative Banks.
[9]

Microcredit and microfinance
The more recent phenomena of microcredit and microfinance are often based on a cooperative
model. These focus on small business lending. In 2006, Muhammad Yunus, founder of the
Grameen Bank in Bangladesh, won the Nobel Peace Prize for his ideas regarding development
and his pursuit of the microcredit concept.
List of cooperative banking institutions
Cooperative banking institutions
Name Country
Members
(2010)
[10]

Assets
(2010 US$
millions)
[10]

Type Alternative name Notes
Crdit
Agricole
France

[11]

Joint
stock
CASA
Majority
owned by
Cooperative banking institutions
Name Country
Members
(2010)
[10]

Assets
(2010 US$
millions)
[10]

Type Alternative name Notes
bank federation of
credit
unions
DZ Bank Germany

Bank
Deutsche
Zentralgenossenschaftb
ank
German Central
Cooperative Bank
Owned by
three
quarters of
all
Volksbank
and
Raiffeisenba
nk
(cooperative
banks) in
Germany
and Austria
Caisse
d'Epargne
France

literally savings bank
Credit union
federation
Rabobank
Netherlan
ds
1,500,000
+
Credit union
federation
Nationwide
Building
Society
UK

Building
society
World's
largest
building
society
Groupe
Banque
Populaire
France 3,400,000

Desjardins
Group
Canada
5,795,277
[
12]

Credit
union
federation

Leading
bank in
Quebec
Raiffeisen
Zentralban
k
Austria

Bank RZB sterreich
Credit union
federation
Progoti Co-
operative
Land
Developme
nt Bank
Limited
Banglades
h
Bank Progoti Bank
The largest
Land
Developmen
t Bank in
Bangladesh
Nonghyup
South
Korea
Banking
division
National Agricultural
Cooperative Federation
Approx
US$230
Cooperative banking institutions
Name Country
Members
(2010)
[10]

Assets
(2010 US$
millions)
[10]

Type Alternative name Notes
of
agricultur
al
cooperativ
e
(NACF) billion in
loans
Iccrea
Banca
Italy

Bank
Istituto Centrale del
Credito Cooperativo
Cassa
Centrale
Banca -
Credito
Cooperativ
o del Nord
Est
Italy

Bank CCB

Raiffeisen
Landesban
k Sdtirol
Italy

Bank
Cassa Centrale
Raiffeisen dell'Alto
Adige

Raiffeisen
Schweiz
Switzerla
nd
Credit union
federation
Banco
Cooperativ
o Espaol
and Caja
Rural
Spain

OP-Pohjola
Group and
Pohjola
Bank
Finland

31% share
of Finnish
credit
market, and
32% share
of savings
and deposit
market
[13]

bankmecu Australia 125,000+ $3b bank

Australia's
first
customer
owned bank
Bank
Persatuan
Malaysia 46,135
86,375,542.
97
Bank
Koperasi Bank
Persatuan Malaysia
Berhad
2nd national
cooperative
bank in
Malaysia
Cooperative banking institutions
Name Country
Members
(2010)
[10]

Assets
(2010 US$
millions)
[10]

Type Alternative name Notes
Co-
operative
Bank
UK
Not
applicable
[
14]

[15]
Bank

Subsidiary
of consumer
cooperative
Navy
Federal
Credit
Union
US 3,004,352 33012
Credit
union
Shared
Interest
UK

[16]

Cooperati
ve lending
society

Finance for
fair trade
GLS Bank Germany

The
Cooperativ
e Bank
New
Zealand
120,000+

Bank

Banco
Credicoop
Argentina

See also

Cooperatives portal
Building society
Credit union
Savings and loan association
Mutual savings bank
References
1. E.g., 12 U.S.C. 1752(1), available at
http://www.ncua.gov/RegulationsOpinionsLaws/fcu_act/fcu_act.pdf; CUNA Model
Credit Union Act 0.20 (2007); see also 12 U.S.C. 1757, available at
http://www.ncua.gov/RegulationsOpinionsLaws/fcu_act/fcu_act.pdf; CUNA Model
Credit Union Act 3.10 (2007).
2. The Co-operative Bank of the UK strictly limits its borrowing from the markets,
according to an October 2008 statement [1]: ... we do not borrow in the financial
markets in order to lend. Our lending capital is generated from customers' investments
and savings, leaving us a good deal less exposed to the vagaries of the market than many
of the major lenders.
3. TNAU. "LAND DEVELOPMENT BANK". TNAU Agritech Portal. Retrieved 8 January
2014.
4. Credit Union Central of Canada. "System Results: National System Review, Third
Quarter, 2012". Retrieved 12 December 2012.
5. "2013 Annual Report". www.ncua.gov. National Credit Union Administration. Retrieved
6 September 2014.
6. Marte, Jonnelle (August 5, 2014). "About 100 million Americans are now using credit
unions. Should you join them?". The Washington Post. Retrieved September 5, 2014.
7. http://www.jpost.com/Business/Business-News/Ofek-aims-to-bring-social-banking-to-
Israel-as-first-credit-union-331207
8. "Cyprus Co-operative Central Bank Ltd", 7 March 2014
9. "Merge of Cooperative Institutions". Cyprus Real Estate. urbansplash.com.cy. 7 March
2014. Retrieved 25 August 2013.
10. Figures at close of institution's 2007 financial year, from organization's annual report. If
no US$ equivalent given in annual report, exchange rate of December 31, 2007, used.
11. EUR 31 billion
12. Desjardins Group figures - Information as at December 31, 2008. Available at
http://www.desjardins.com/en/a_propos/qui-nous-sommes/chiffres.jsp
13. "Key figures". Unico Banking Institute. 2006.
14. Co-operative Bank customers are eligible to join its parent Co-operative Group
15. 13.1 billion GBP
16. GBP 25.1 million
External links

Wikimedia Commons has media related to Banking cooperatives.
International Co-operative Banking Association, a sectoral organization of the
International Co-operative Alliance
The European Association of Cooperative Banks
NCB
Co-operative Banks in India
CIBP
The Kelly Review
Cooperative Banking in Canada
Co-operative Central Bank Ltd Cyprus
[hide]
v
t
e
Cooperatives and mutual organizations

[hide]
Types of cooperative
By
governance
Consumer
Cooperative federation
o list
Cooperative wholesale society

Worker (list)
Employee ownership
Workers' self-management
Workers' control
Workplace democracy
Business and employment co-operative

Purchasing
Retailers' cooperative

Other
Social cooperative
Agent-owned company


By purpose
Banking
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Mutual savings bank
Savings and loan association
Building society

Housing
Building
Cohousing
Student housing
Housing society (egalitarian)
Intentional community

Agricultural
Collective farming
Reforestation
Winemaking
Wheat pool

Utility (list)
Community wind energy
Electric
Telephone

Mutual education
Anarchistic free school
Homeschool
Democratic education
Learning by teaching

Mutual insurance
Health insurance cooperative

Other
Food
o list
Recycling


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THE PUNJAB STATE COOPERATIVE AGRICULTURAL DEVELOPMENT BANK LTD
Mission:-
Self Reliance & Development of Rural Punjab

The Punjab State Co-operative Agricultural
Development Bank Limited, which was previously
known as The Punjab State Co-operative Land
Mortgage Bank Ltd., was registered on 26.02.1958,
under the Cooperative Societies Act basically with the
object to grant long term loans to the owners of land
or other immovable property, to enable them to
discharge their debts, to carry out Agricultural
improvements, to acquire land for the formation of
economic holdings and other like purposes and
thereby to promote thrift and self help among them.






At the initial stage, the Bank had started
functioning through the Central Cooperative
Banks, by appointing them as its Agents. The
Agency system was discontinued in the year
1962 when 14 Primary Cooperative Land
Mortgage Banks , now known as Primary
Cooperative Agricultural Development Banks
came into existence and were affiliated to the
Punjab State Co-operative Agricultural
Development Bank, for the purpose of advancing
long term loans to the farmers in the State.

The long term structure in the Punjab State, as such, is a Federal
Structure with Punjab State Cooperative Agricultural Development Bank
( in short, SADB) as an Apex Institution with Primary Cooperative
Agricultural Development Banks as its members (in short, PADB). At
present, the number of the Primary Cooperative Agricultural
Development Banks in the State is 89 besides two other members i.e.
Punjab State Electricity Board and Punjab State Tubewell Corporation.
Each PADB, while seeking membership to the SADB is required to
purchase atleast, one share of the value of Rs. 1000/- and pay Rs. 1000/-
as Admission Fee.

ADVANCEMENT OF LOAN

Initially the Bank started advancing loans for the purpose of Redemption and Purchase of land so as to make land holdings
economically viable. After sometime, the Bank also started providing loans for the improvement of Banjar, Alkaline and
Saline lands. Thereafter, the Bank played a substantial role in the mechanisation of farming in the State by advancing loans
for the purchase of Tractors, Agricultural Implements and installation of Tubewells etc. The substantial contribution of this
Bank in ushering in Green Revolution in the State, has always been considered significant. After the Green Revolution, the
Bank played meaningful role for the diversification of agriculture loan by providing loans to the farmers for the various
allied agricultural activities like Dairy, Poultry, Fishery etc. Now, Punjab is the largest producer of milk and SADB has
made a major contribution to this achievement. Today, every third Tubewell installed in the State is financed by this Bank.

Similarly, every fourth tractor in the State is financed by this Bank. The Bank has contributed significantly in White
Revolution and Blue Revolution by providing loans for the purposes of Dairy and Inland Fishery.
At present the Bank is implementing the schemes for the following purposes :-
1. Installation of Tubewells.
2. Purchase of Tractors
3. Soil Conservation.
4. Horticulture and Grapes Cultivation
5. Reclamation of Alkaline Land
6. Dairy Development
7. Poultry Development
8. Animal Driven Carts
9. Farm Forestry(Poplar Plantation)
10.Inland Fishery Farms.
11.Installation of Bio-gas Plants.
12.Establishment of Broiler
13. Bee Keeping
14.Sheep Rearing
15. Mushroom Cultivation
16. Calf Rearing
17. Purchase of Threshers
18.Purchase of Agri. Implements.
19. Redemption of Mortgaged Land
20.Purchase of Land
21. Construction of Cattle Sheds/
22.Sand Scraping etc. Small Godowns
23. Non Farm Sector
24.Flouriculture
25. Purchase of Second-hand Tractor
26.Rearing of Rabbits
27. Purchase of harvester combines
28. Rural Godowns
.................................etc.
The Bank is also playing a vital role in elimination of unemployment in the State. For this purpose, the Bank provides
gainful self employment to the educated unemployed youths for establishment of Dairy Units of 10, 20, 30 & 50 animals
etc. and Poultry units of 2000 Birds with the cooperation of the Dairy Development Department Punjab and Department of
Animal Husbandry, Punjab respectively.
NON-FARM SECTOR

Switched over to Non-Farm Sector in the year 1993 - 94 and started financing ventures of Self-Employment in
Manufacturing, Processing and Service Activities.
Objectives
To generate self-employment and business expansion/diversification.
Major Activities

Agro-Processing, Milk Processing, Dairy Products, Fruit Processing, Floor Mills, Rice-Shellers and Oil Mills , Cattle Feed
Plants, Cold Storage, Brick Kilns Hotels, Road-side Restaurants and Eating Joints, Computer Centers, Photostat, STD /
PCO, Transport Vehicles, Tent Houses, Boring Machines, Agri-Clinics, Artificial Insemination Centers .
New Ventures:

Floriculture Rabbit Rearing Calf Rearing Drip Irrigation Agri-clinics / Agribusiness Centres Cold Storage Two Wheelers
Sprinkler Irrigation Aonla development Bulgarian Roses Jasmine & Marigold Rural Godowns / Onion Godowns, Godowns
cum Shed for storage of grains & parking of Agricultural Machinery Commercial Dairy Projects.
Rate of Interest on loans advanced by PADBs

Sr.
No.
Loan Slab
Present Rate
of Interest
1. Upto Rs. 50,000/- 10.75%
2. Rs. 50,001 and above 12.00%

Contact Information:-

Contact Address (SADB) :
The Punjab State Cooperative
Agricultural Development Bank Ltd. SCO
53-54, Sector 17-B, Chandigarh-160017
Tel No.: 91-172-5011708
Fax : 91-172-2705513
E-mail ID:- pscadb@glide.net.in






Punjab State Co-operative Bank Ltd
Chapter-2 (Manual-I)
Particulars of Organisation, Functions and Duties.
Punjab State Co-operative Bank Ltd
The Punjab State Cooperative Bank Limited Chandigarh
OBJECTIVES :
The objectives of the Bank are :- To promote and propagate the creation of a
Cooperative Common wealth through socio-economic transformation of the
community by peaceful and democrative means, maintaining the Cooperative
character, following cooperative principles of voluntary association based on equal
footing, democratic management, elimination of scope of individual profit, practice of
thrift and readiness to work for mutual and common cause.
MISSION :
Promotion and sustenance of economic interest and providing easy finance, cost
effectives and quality banking services to customers and PACS.
OBJECTS :
The objects for which the Bank is established are as under :-
1. To serve as a balancing center for cooperative societies (hereinafter called the
society/societies) in the State of Punjab registered under the Act for the time
being in force.
2. To promote the economic interest of the members of the Bank and Cooperative
Societies in the State in accordance with cooperative principles and to facilitate
the development and funding of any Cooperative Society registered under the said
Act.
3. To establish and support or aid in the establishment of and support to association,
institutions, funds, trusts and convenience designed to benefit the employees or
ex-employees of the Bank or the dependents or connections of such persons to
grant pensions and allowances and make payment toward insurance.
4. To provide long term loan for the maximum period of 15 years to the individuals,
Coop. House Building Societies, Federation of Coop. House Building Societies
and members of Group Housing Societies for purchase of house or construction
thereof by enrolling member/nominal members so as to read as 4.4. To carry on
Punjab State Co-operative Bank Ltd
banking and credit business not repugnant to the provisions of the Act and the
Rules framed thereunder for the time being in force and in particular to provide
credit facilities to the members. Providing Long Term Loan for the maximum
period of 15 years to individuals, Coop.House Building Societies and members of
Group Housing Societies for purchase of house or construction thereof by
enrolling members/nominal members.
5. To adopt such measures as are conducive to the spread of cooperative education
and training.
6. To promote and develop Cooperative Societies in the State.
7. To do all such other things as are incidental or conducive to the promotion or
advancement or objects of the Bank.
8. To solicit or procure insurance business as a Corporate Agent.
Brief History:
The Punjab State Cooperative Bank was established at Shimla in the year 1949 as
Apex Bank of three tier short term Cooperative Credit structure. It has 3 Divisional
Offices at Amritsar, Bhatinda and Jalandhar. It has 19 branches and 3 extension counters
operating in the city of Chandigarh. Besides this, there are 19 District Central
Cooperative Banks having 783 branches and 16 extension counters in the State of Punjab
affiliated with it. The bank was established to help to provide timely and adequate flow
of credit to the farmers for agriculture and allied activities through PACS.
Main activities/functions of the bank :-
To accept deposits of money from the public for the purpose of lending and
investment.
Services provided by the bank :-
I. Deposits :-
1. Saving Bank Account
2. Current Account
3. Fixed Deposits
4. Long Term Deposits
5. Recurring Deposit
6. Collection of drafts, cheques and various other instruments.
Punjab State Co-operative Bank Ltd
II. Loans :-
Loans to Public:
i) Consumer durable loans
ii) Personal Loan to salary class
iii) Housing Loan
Loans to Central Cooperative Banks: (Re-finance)
i) Short term agriculture loan
ii) Medium term agriculture loan.
iii) Short term non-agriculture loan (Consumption Loan)
iv) Non farm sector loan
v) Rural and Urban Housing Loan
vi) Two wheeler loan
vii) Revolving cash credit limit to farmers (RCC)
viii) Cash Credit Fertilizer
ix) Cash Credit Limit to Cooperative Sugar Mills
Loans to other cooperative Apex Institutions:
x) To Housefed Pb.
xi) To IFFCO
Organisational Structure :-
The bank operates in the city of Chandigarh having 19 branches and 3 extension
counters. It has 3 Divisional Offices in Punjab at Amritsar, Jalandhar & Bathinda. The
organizational structure is as under:-
Organizational Structure
PSCB
DIVISIONAL OFFICES
Amritsar Jalandhar Bathinda
District Central Cooperative Banks.
1. Amritsar 1. Jalandhar 1. Bathinda
2. Tarantaran 2. Hoshiarpur 2. Fazilka
3. Gurdaspur 3. Kapurthala 3. Faridkot
4. Ferozepur 4 Ludhiana 4. Mansa
5. Moga 5 NawanShahar 5. Muktsar
6 Patiala 6. Sangrur
7. Ropar
8. Fatehgarh Sahib
Punjab State Co-operative Bank Ltd
Administrative Setup
Board of Directors
Managing Director
Additional Managing
Director(Administration)
Additional Managing
Director(Banking)
General
Manager
(O&A)
General
Manager
(Development)
Deputy
General
Managers
Deputy
General
Managers
General
Managers
(Division
Offices at
Jalandhar,
Bhatinda
&
Amritsar
Deputy
General
Manager
(Systems)
Assistant
General
Managers
Assistant
General
Managers
Assistant
General
Managers
Deputy
Vigilance
Officer
Estt.
Officer
Liaison
Officer
ACFA
Assistant
General
Manager
Senior
Managers
Senior
Managers
Senior
Managers
Expectation of the bank from the public for enhancing its effectiveness and
efficiency
The Bank expects that the general public should take maximum benefits of the
services offered by it. The bank expects from the public that they should keep their
surplus money in the shape of deposits with the Bank and take maximum benefits of
various loan schemes of the Bank. The bank also expects that public should repay the
Punjab State Co-operative Bank Ltd
loans taken by it timely so that the bank may be able to channelise the same. It will be in
the interest of the public also.
Arrangements and methods made for seeking public participation/contribution :-
The Bank has an elected Board of Directors which is the main governing body of
the bank. District and State level Technical Committees are established to fix the scales
of finance of various crops. Customer meets, Annual General Body meeting, Annual
Cooperative Week celebrations during the month of November every year.
Mechanism available for monitoring the services delivery and public grievances
resolution :-
The Bank is governed by an elected Board of Directors which regularly monitors
the services delivery system. The Bank is regulated and inspected by Reserve Bank of
India, NABARD and State Govt. There is a statutory audit system in the Bank by the
Auditors, under the control of Chief Auditor, Cooperative Societies, Punjab. To properly
handle the public grievances/complaints, a separate Vigilance Cell has been created at the
Head Office of the Bank.