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Goa SCB & NABARD jointly push PSL

Goa SCB and NABARD are strengthening cooperative banking in the state during difficult times:

Usha Ramesh, GM, Nabard handing over sanction of 1 Mobile VAN for North Goa District to Goa SCB chairman Ulhas Phaldesai

Goa has total bank deposits of Rs847.15 billion as on31 March 2020, which is a marginal growth of Rs118.66 billion over the previous year. Advances increased by Rs17.88 billion to aggregate Rs239.85 billion. According to Ulhas B. Phaldesai, Chairman, Goa State Cooperative Bank, the overall CD ratio continues to be low at 28.31%, which is well below the benchmark level. The restrictions imposed by the RBI on PMC Bank, Yes Bank and 2 major UCBs in the state have resulted in rumours spreading in the market and Phaldesai believes that this has affected the business growth of the cooperative banks to some extent during the financial year under review.


The working capital of the Goa State Cooperative Bank is Rs27.05 billion as on 31 March 2020 as against Rs27. 09 billion at the end of the previous year. The total business mix of the bank is Rs40 billion and total deposits Rs24.08 billion. Deposits in the Goa region are Rs18.63 billion.

Says Phaldesai: “We are well positioned with a strong balance sheet and healthy liquidity. The market share of all the cooperative banks in Goa stood at 6.75%, whereas our market share of total deposits is 2.2%. CASA deposits stood at Rs10.68 billion, which accounted for 44.38 % of the total deposits of the bank.”

The bank’s CD ratio is 66.12% and Phaldesai says the bank has always focused on maintaining good and quality advances at all times and balanced its credit portfolio across all productive sectors. “As a responsible leader in the financial services, we always believed in providing best-in-class banking products and services accessible to all sections of the society and we are growing consistently in these difficult times,” he says.


The bank continued its efforts in augmenting growth under PSL. It has been one of the major lenders in the state in the agricultural sector. Says Phaldesai: “We have promoted 40 Farmers Clubs in the state and we have 3825 affiliated SHGs, out of which 312 are credit-linked with outstanding loan of Rs624.2 million. We have also financed 52 JLGs out of 657 affiliated ones and the amount outstanding is Rs1.31 million.”


All the branches of the bank had remained operational during the pandemic except on rare occasions when restrictions were imposed by the local authorities. “We have now fully activated our treasury operations and trading in government securities.

We could earn a profit of Rs162.1 million during the financial year under review and the overall operating profit stood at Rs401.9 million for the Goa region, which includes income out of trading operations in government securities,” says Phaldesai.


The bank has a staff strength of 525 and the productivity per staff is Rs762.03 million as on 31 March 2020. The bank has an independent HR department and it undertakes training for its staff members. The bank also organizes regular workshops for societies and SHGs. Under NABARD’s program, the financial literacy cell of the bank conducted 115 camps in the state for educating customers during the last financial year, which is highest number of camps conducted by any bank in Goa during the year.


Phaldesai reveals that the bank is in the process of recruiting 3 IT officers to strengthen its MIS section. It also plans to bring all the PACS on the IT platform of the bank by undertaking computerization with the support of NABARD and Registrar of Cooperative Societies. The bank also has plans to set up a DR site, undertake renovation of branches in a phased manner and shifting of Margao and Bethora branches to new premises. It also intends to avail refinance from NABARD under the Atmanirbhar Fund.

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