Shri Rajkot District Central Cooperative Bank commenced its business in 1960 and acquired a banking license from RBI in 1994. Jayeshbhai Radadia, Chairman shares the current status: “Rajkot DCCB currently has is 199 branches in Rajkot & Morbi districts, consisting of 15 blocks. 18 ATMs and 1 mobile ATM van facility are available in this bank. The bank has 67 own branch buildings including head office. All branches and head office are on CBS platform.”
Deposit, Credit, Recovery
As on 31-03-2021, total deposits at the bank are Rs66.59 bn and total advances are Rs41.80 bn. Jayeshbhai adds: “The bank is maintaining its first rank in recovery performance position amongst all DCCB of Gujarat state since last 28 years and recovery is 99%. Moreover, the bank has been awarded the Dashabdi Award by GSCB in recovery performance. 58.71% of the total deposits consists of low-cost deposits and deposits are covered under insurance as per RBI guideline.”
Computerized PACS
There are 453 PACS affiliated with Rajkot DCCB. All PACS are fully computerized. Each PACS has its own office and godown facility. Each PACS has independent, qualified full time trained secretaries. They have been paying 100% recovery of bank’s demand.
KCC, Credit Linked SHG
In KCC scheme Rajkot DCCB has issued 0.29 million Kisan Credit Cards. Jayeshbhai updates: “There are 5640 saving bank accounts of SHGs with our branches and out of these 2849 SHGs are credit linked with the bank. “We have sanctioned loan sum of Rs276.15 million. In credit linkage, our bank has received award for ‘SHG Bank linkage program’ consecutive for 2 years from NABARD regional office, Ahmedabad.”
Lockers Facility
Rajkot DCCB offers safe deposit lockers facility in 102 branches. Jayeshbhai says: “The bank has made lockers facility available 24 hours & 365 days at the head office. The locker facility at 2 of our branches is available to the customers for limited time from 8 am to 12 pm. Gold ornament finance facilities are available at Gold Loan Extension Counter in the head office from 3.00 pm to 10.00 pm.”
Employees, Training
Rajkot DCCB has 1104 employees, including 249 subordinate staff. It has trained 825 employees out of 1104 on various segments of banking.
Godown Subsidy
Under ‘Rural Godown Scheme’ for farmers (credit linked capital investment with 25% subsidy Scheme), 2616 warehouses have been completed. Jayeshbhai informs: “We have sanctioned 902 godown loans under the scheme of the state government. Total storage capacity of these warehouses is 483,239 tons and we have received subsidy of Rs318.16 mn under this scheme. Our bank has announced 8% interest subvention for the said scheme.”
Under the PACS godown scheme of the state government, PACS have completed 283 godowns, which has storage capacity of 59,819 tons. The bank has received total amount of Rs216.95 mn as subsidy from the state government.
Awards Galore
NAFSCOB has awarded the bank 3 times for the best performance in all aspects. Banking Frontiers has given awards for ‘Best Turnaround Bank’ & ‘Best Credit Growth’. Rajkot DCCB has also won the ‘BANCO Blue Ribbon’ award. Jayeshbhai adds: “The bank has received ‘NABARD Best Performance Award’ 5 times in a row at the hands of Prime Minister and Finance Minister, GOI, for the best performance in all aspects of working amongst all DCCBs in entire India.”
Insurance Covers
The bank provides a number of facilities to customers under the central government schemes. Jayeshbhai informs: “We have been providing accident insurance cover at a premium of Rs12 under PMSBY and life insurance cover at a premium of Rs330 under PMJJBY. Our bank is opening Atal Pension Yojana accounts and issuing PAN card service for our customers. As a social obligation our bank has introduced medical benefit under ‘Vithalbhai Radadiya Medical Sahay Yojana’ for members of PACS up to Rs12,000 per patient per year. Our bank pays the premium for accidental insurance of Rs1 mn for PACS borrower members. Our bank has opened a 15 FLCs (financial literacy centers) at a taluka place in the district under the financial literacy scheme.”
Audit Rating, Dividend
For the last 49 years, Rajkot DCCB has obtained audit rating ‘A’ by auditor. It has been paying dividend subject to RBI guideline since beginning. Jayeshbhai informs: “Our bank is paying maximum dividend as per the cooperative Act to its shareholders since last 27 years. The bank is making profit since beginning of the business. As on 31-3-2021, gross profit is Rs1.29 billion.”
