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Thursday, September 3, 2009
A quick glance through the figures regarding the financial position of the RSCB from 1953-54 to 2002-03 indicates some interesting developments. The share capital has gone up by 700 times. The reserves have gone up by about 19,000 times. The growth of deposit has also been equally phenomenal from a small Rs 36,000 to Rs 992 crores. Similarly, outstanding loans have gone up from mere Rs 25,000 to Rs 1,111 cr. The working capital, which was less than Rs 6 lacs, has also gone up to over Rs 1,970 cr. The profit from Rs ] ,000 has gone up to over Rs 15 cr. The financial picture also reflects some specific years, which constitute turning points. For instance, the loans outstanding in 1968-69 were almost double what they were during the previous year. In 1974-75, there was a twofold growth compared to 1972-73. During 1980-81, the loans outstanding crossed Rs 100 cr.
To bring about greater banking professionalism, an officer from RBI was taken on deputation as managing director. Open market recruitment for different levels was made for infusing new blood into the bank, at the same time, insulating it from being treated as an extension of the cooperative department.
About the same time, reorganization of the PACS was undertaken under the aegis of the cooperative department. The doors of membership of PACS were thrown open to all those eligible. RSCB also began to make term landings other than short term. Cooperative housing activities also received due encouragement. All these were expected to create avenues for the RSCB to develop its banking activities horizontally also.
The results were reflected in a ground swell of enthusiasm paving the way for future business expansion and diversification of loan portfolio, pioneering schemes for small-scale / cottage sectors, warehousing, etc, as also in social banking and making foray into hitherto unexplored areas like consorti um - financing
To bring about greater banking professionalism, an officer from RBI was taken on deputation as managing director. Open market recruitment for different levels was made for infusing new blood into the bank, at the same time, insulating it from being treated as an extension of the cooperative department.
About the same time, reorganization of the PACS was undertaken under the aegis of the cooperative department. The doors of membership of PACS were thrown open to all those eligible. RSCB also began to make term landings other than short term. Cooperative housing activities also received due encouragement. All these were expected to create avenues for the RSCB to develop its banking activities horizontally also.
The results were reflected in a ground swell of enthusiasm paving the way for future business expansion and diversification of loan portfolio, pioneering schemes for small-scale / cottage sectors, warehousing, etc, as also in social banking and making foray into hitherto unexplored areas like consorti um - financing
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