vvccbank.com Annual report 2017-18.pdf · Auditor's Report 3 Don’t let a hard lesson harden your...

OUR VISION

OUR MISSION

VVCC Bank's name to be synonymous with Trust, Efficiency and Security........................................... (Achieved)

To be among the most admired CO-OPERATIVE BANK in our vicinity area........................................... (Achieved)

Business to grow at a Compounded Annual Growth Rate (CAGR) of 20%.

NPAs to be reduced to 2-3% of net advances.......................................................................................... (Achieved)

Lending rates to be brought in parity with the rates of commercial banks................................................ (Achieved)

To have a network of 5 branches within the operational area, by 2020.

To be perceived as a preferred banker by depositors, small businessmen and small scale industries.... (Achieved)

To give full customer satisfaction.............................................................................................................. (Achieved)

To emerge as the Model Bank in Co-operative sector,

equipped with cutting edge technology,

providing world class customer services and

maintaining the highest standards of professionalism and integrity.

The Vallabh Vidyanagar Commercial Co-operative Bank Limited

V V C CBANK LIMITED

The Vallabh Vidyanagar The Vallabh Vidyanagar

Commercial Co-operative Bank Ltd.Commercial Co-operative Bank Ltd.

The Vallabh Vidyanagar

Commercial Co-operative Bank Ltd.

th47 Annual Report 2017-18th47 Annual Report 2017-18th47 Annual Report 2017-18

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2

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L$pe®k|Qu lp’ ̂ fhp dpV¡$ dmi¡. sp¡ kh£ kcpkv$p¡“¡ ‘^pfhp rh“„su.

L$pe®k|Qu :

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2018 “p hj®“y„ kfh¥ey„ s¡dS> “ap-“yL$kp“ ‘ÓL$ d„Sy>f L$fhp bpbs.

3. k“¡ 2017-2018 “p hj®“p “ap“u apmhZu d„Sy>f L$fhp bpbs.

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8. âdyMîu“u d„Sy>fu’u buÅ L$pdp¡ L$fhp bpbs.

õ’m: h‰c rhÛp“Nf L$dg¡i A¡d. ‘V¡$g (S>“fg d¡“¡S>f)

spfuM: 30-04-2018 bp¡X®$ Ap¡a qX$f¡L$V$k®“p Apv$¡i’u

“p¢^:-

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rls“¡ gNsy„ L$pd L$f¡ sp¡ s¡ D‘f rhQpf L$fhp“y„ A“¡ s¡“p¡ r“L$pg L$fhp“y„ fl¡i¡.

47 du kp^pfZ kcp A„N¡ Ål¡fps

The richest man is not he who has the most, but he who needs the least.





The richest man is not he who has the most, but he who needs the least.

fuTh® b¢L$ Ap¡a BÞX$uep “u DEAF–2014 ep¡S>“p A„N¡ ANÐe“u Ål¡fps

b¢L$“p sdpd N°plL$p¡“¡ S>Zphhp“y„ L¡$ fuTh® b¢L$ Ap¡a BÞX$uep“u DEAF–2014 (Depositors Education and Awareness

Fund) ep¡S>“p A„sN®s S>¡ Mps¡v$pf“y„ L$p¡B‘Z âL$pf“y„ Mpsy R>¡‰p v$i hj®’u B“ Ap¡‘f¡V$uh fl¡g lp¡e s¡hp MpspAp¡“u S>dp fL$d s¡ Mpsy

b„O L$fu“¡ fuTh® b¢L$ Ap¡a BÞX$uep, dy„bB Mps¡ dp¡L$gu v$¡hpdp„ Aph¡ R>¡. S>¡ fL$d Mps¡v$pfp¡“¡ S>ê$fu v$õsph¡Å¡ kp’¡ L$g¡Bd L$fhp’u ‘fs dmu

iL¡$ R>¡.

Ap’u v$f¡L$ Mps¡v$pfp¡“¡ k|Q“p Ap‘hp“u L¡$ gp„bp kde’u L$p¡B‘Z âL$pf“u g¡hX$-v$¡hX$ rh“p “p MpspAp¡ A’hp L¡$.hpe.ku. “p

v$õsph¡Å¡ (CKYCR - “p “hp r“edp¡ dyS>b) S>dp “p L$fpìep lp¡e s¡hp MpspAp¡dp„ L¡$.hpe.ku. v$õsph¡Å¡ s’p S>fyfu rhNsp¡ Ap‘u“¡ s¡hp

MpspAp¡dp„ g¡hX$-v$¡hX$ iê$ L$fhu.


Auditor's Report

3

Don’t let a hard lesson harden your heart.





We are appointed as statutory auditors for your bank for the Accounting Year 2017-18 by the Registrar of co-

operative societies vide letter No. 2460/J-4/371/2017 dated 19/05/2017. As per the conditions of the order we have

completed the audit on the basis of information provided by the bank. After auditing the bank's Balance Sheet and

Profit and Loss account, we submit our report as under:

a) The Board of Directors have conducted the working of the bank as per bye-laws and also provisions of

cooperative law/rules. The Board of Directors have followed the rules and regulations.

b) The Board of Directors have carried out the instructions of RBI, given from time to time.

c) The Books of accounts and accounting system are maintained as required under the provisions of co-

operative law and also as per the instructions of RBI.

d) Bank's balance sheet reflects the true and fair view of the financial position. The figures of capital, assets,

investment and profit/ loss show true position.

e) Bank has properly maintained SLR and CRR standards.

f) Bank has made classification of NPAs as per RBI guidelines and sufficient provisions are made for the same.

g) The advances allowed to members of the board of directors or their relatives are as per RBI guidelines and in

terms of provisions of co-operative law. All such advances are recoverable.

h) The Directors or office bearers are not disqualified for their position.

i) There is no violation of any law in cases of one time settlement of advances during the year 2017-18.

j) There is no violation of any law in cases of compromise settlement of dues through courts during the year

2017-18.

k) In our opinion and to the best of our information and according to the explanations given to us and shown by

the books of the bank, said accounts and further read together with Significant Accounting Policies and Notes

to Accounts, give true and fair view.

I. In case of the Balance Sheet, of the full and fair state of affairs of the bank as on 31st March, 2018.

II. In case of Profit and Loss Account, of the true balance of profit for the year ended on 31st March,2018.

The Vallabh Vidyanagar Commercial Co-operative Bank Ltd.


For, Shah Kailash & AssociatesChartered Accountants(FRN109647W) Panel No. : 289(CA Kailash Shah) PartnerM.No. 44030

Audit Class : 'A'Date : 30-04-2018Place : Anand

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L$fu iL$ip¡.

1. b¢L$“u Ly$g \p`Zp¡ 12.32% \u hû“¡ ê$p. 18285.06 gpM \e¡g R>¡. (kdN° b¢qL„$N n¡Ó“p¡ N°p¡’ 6.32%)

2. Ly$g r^fpZ 30.34% \u hû“¡ ê$p. 12511.24 gpM \e¡g R>¡.

3. L¡$r`V$g A¡qX$L$hku f¡iuep¡ fuTh® b¢L$ Ap¡a BÞX$uep “p r“edp¡ dyS>b 9% lp¡hp¡ Å¡BA¡ S>¡ 13.30% R>¡.

4. Gross NPA ê$p. 140.67 gpM R>¡ S>¡ Ly$g r^fpZ“p 1.12% R>¡ NET$ NPA ê$p. 0.00 R>¡.

5. ¾¡$X$uV$ qX$`p¡TuV$ f¡iuep¡ Ns hj®“p¡ 58.96% lsp¡ S>¡ Qpgy hj£ hû“¡ 68.42% fl¡g R>¡.

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“ap“u apmhZu

Ap‘Zu b¢L$“p¡ spfuM 31/03/2018 “p fp¡S> ‘|fp ’sp hj®“p¡ L$pQp¡ “ap¡ ê$p. 213.72 gpM (Ns hj®“p¡

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apmhZu L$fhp“u cgpdZ L$f¡ R>¡.

Q¡fd¡“îu “y„ r“h¡v$“

4

The ultimate source of a happy life is the attention we pay to our inner values. ~ Dalai Lama






5

Being honest may not get you a lot of friends but it’ll always get you the right ones.





spfuM 31/03/2018 “p¡ “ap¡ ê$p. 1,50,00,000.00 (‘¡V$pr“ed 66(A) A“¡ 66(b) dyS>b) apmhZu

rhNs ê$p. ‘¥kp

66 (A) dyS>b

1. qfTh® a„X$ Qp¡¿Mp “ap“p 60.00% 90,00,000.00

2. qX$huX$ÞX$ -i¡fc„X$p¡m“p 10.00% 20,00,033.00

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5. Mfpb A“¡ iL$d„v$ g¡Zpa„X 15.00% 22,50,000.00

kfhpmp¡ 1,37,50,033.00

D‘fp¡L$s apmhZu bpv$ bpL$u “ap¡ 12,49,967.00

rhNs ê$p. ‘¥kp 66 (b) dyS>b1. klL$pf âQpf a„X$ 5.00% 62,498.002. rbëX$]N a„X$ 40.00% 4,99,988.003. ^dp®v$p a„X$ 5.00% 62,498.004. õV$pa h¡ga¡f a„X$ 5.00% 62,498.005. kcpkv$ b¡“uauV$ a„X$ 30.00% 3,74,990.006. dlp¡Ðkh a„X$ 15.00% 1,87,495.00

Apcpf v$i®“

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Q¡fd¡“


(A\hp ê$p.2.00 gpM `¥L$u Ap¡Ry> lp¡e s¡)

31-03-17 CAPITAL & LIABILITIES - c„X$p¡m s’p v$¡hy„ 31-03-18 31-03-18

Rs. Ps. Rs. Ps. Rs. Ps.

Share Capital - i¡fd|X$u

Authorised Share Capital - ArOL©$s i¡fd|X$u

3,500,000.00 1. (35000 Shares of Rs.100 each) - 3,500,000.00

(ê$p. 100 “p¡ A¡L$ A¡hp 35000 i¡f)

30,000,000.00 2. (300000 Linking Shares of Rs.100 each) - 30,000,000.00

(ê$p. 100 “p¡ A¡L$ A¡hp 300000 g]L$]N i¡f)

33,500,000.00 Total - kfhpmp¡ 33,500,000.00

Issued, Subscribed and Paid-up Share Capital -

cf‘pB ’e¡g i¡fd|X$u

1,967,200.00 1. Share Capital (19970 Shares of Rs.100 each) 1,997,000.00

(ê$p. 100 “p¡ A¡L$ A¡hp 19970 i¡f)

17,479,900.00 2. Share Linking (179912 Shares of Rs. 100 each) 17,991,200.00

(ê$p. 100 “p¡ A¡L$ A¡hp 179912 g]L$]N i¡f)

19,447,100.00 Total - kfhpmp¡ 19,988,200.00

Reserves & Funds - A“pdsp¡ A“¡ c„X$p¡m

75,294,002.87 Reserve Fund - A“pds a„X$ 78,858,230.87

12,816,635.10 Building Fund - rbëX$]N a„X$ 13,058,894.10

60,503,463.00 Revaluation Reserve fuh¡ëeyA¡i“ fuTh® 60,503,463.00

21,440,913.03 Bad Debts Fund - Mfpb A“¡ iL$d„v$ g¡Zp„ a„X$ 22,925,913.03

41,017,397.09 Special Bad Debts Fund - Mpk X|$bs g¡Zp„ a„X$ 41,017,397.09

4,250,241.97 Prov.for Stand. Assets - õV$pÞX$X®$ A¡k¡V¹$k“u Å¡NhpB 5,610,241.97

40,628,758.48 Investment Depreciation Reserve - fp¡L$pZ Okpfp A“pds 36,823,258.41

774,560.00 Investment Fluctuation Reserve - fp¡L$pZ hO^V$ A“pds 2,656,560.00

Other Funds - AÞe c„X$p¡m

1,463,212.31 Staff Welfare Fund - õV$pa h¡ga¡f a„X$ 1,493,494.31

1,615,717.23 Dividend Equilisation Fund - X$uhuX$ÞX$ B¼hugpBT¡i“ a„X$ 1,813,717.23

1,610,156.50 Dharmada Fund - Odp®v$p a„X$ 1,640,438.50

280,862,157.58 Total Carried Forward - kfhpmp¡ ApNm gB Nep 266,401,608.51 19,988,200.00

BALANCE SHEET AS ON 31-03-2018 - sp.31-3-2018 “p fp¡S>“y„ kfh¥ey

6

God has a wonderful way of turning negatives into positives.






31-03-17 ASSETS - Aõ¼epdsp¡ 31-03-18 31-03-18


Cash on Hand - lp’ D‘f rkgL$ 17,719,320.12 Cash on Hand - lp’ D‘f rkgL$ 13,336,379.62

- b¢L$p¡dp„ rkgL$ Balances with Banks

S.C.C.B. / D.C.C.B. - fpS>e / Æ‰p klL$pfu b¢L$ 12,136,737.38 KDCC CUR A/C V.V.NAGAR - M¡.Æ.d.k. b¢L$, h.rh.“Nf 22,208,810.38

4,815,224.10 GSCB CUR A/C A'BAD - 7,977,235.27 NyS>.fpS>.kl. b¢L$, Adv$phpv$ fpô²$ueL©$s b¢L$Nationalised Bank -

14,680,105.00 12,005,268.00 SBI CUR A/C Anand Lambhvel Road Branch õV¡$V$ b¢L$ Qpgy Mpspdp„, ApZ„v$ gp„ch¡g fp¡X$ b°pÞQ $ 1,647,173.18 UBI CUR A/C V.V.N. - 1,685,673.18eyr“e“ b¢L$ Qpgy Mpspdp„, h.rh.“Nf 3,026,058.68 BOB CUR A/C V.V.N. - 1,833,328.68b¢L$ Ap¡a bfp¡X$p Qpgy Mpspdp„, h.rh.“Nf 1,071,593.35 OBC CUR A/C V.V.N. - 1,725,886.35Ap¡fuA¡ÞV$g b¢L$ Qpgy Mpspdp„, h.rh.“Nf 349,189.01 UBI CUR A/C Anand - 2,154,556.01eyr“e“ b¢L$ Qpgy Mpspdp„, ApZ„v$ IDBI Bank CUR A/C. - IDBI 12,514,566.82 b¢L$ Qpgy Mpspdp„, h.rh.“Nf 10,014,566.82

Total - 47,565,810.52 kfhpmp¡ 62,280,161.69

- Mp“Nu b¢L$p¡Private Banks

309,579.87 AXIS BANK CUR A/C - 5,271,111.60 A¡L$kuk b¢L$ Qpgy Mpspdp„, h.rh.“Nf 9,806,527.87 b¢L$ Qpgy Mpspdp„, h.rh.“Nf 10,184,243.89 ICICI BANK CUR A/C - ICICI

83,806.71 b¢L$ B-‘¡d¡ÞV$ Mpspdp„ 23,055.71 HDFC CUR A/C E.Payment - HDFC

454,456.32 b¢L$ Qpgy Mpspdp„, hX$p¡v$fp 2,365,105.83 HDFC CUR A/C Baroda - HDFC

15,752.58 b¢L$ Qpgy Mpspdp„, ApZ„v$ 5,225,529.86 HDFC CUR A/C Anand - HDFC

165,546.54 b¢L$ Qpgy Mpspdp„, dy„bB 37,131.80 HDFC CUR A/C Mumbai - HDFC

3,348,565.26 bL¢ $ Mpspdp,„ db„y B 1,185,852.04 HDFC CTS-ACH A/C Anand - HDFC CTS-ACH

200,000.00 bL¢ $ Qpgy Mpspdp,„ IMPS kV¡ $gdÞ¡ V$ 4,676,948.07 ICICI Bank CUR A/C-IMPS settlement-ICICI

Total - 14,384,235.15 kfhpmp¡ 28,968,978.80

97,000,000.00 Vy„$L$u dyv$s A“¡ L$p¡g Mps¡ 25,000,000.00

MONEY AT CALL AND SHORT NOTICE -

- i¡fp¡dp„ fp¡L$pZ INVESTMENT IN SHARES

- klL$pfu b¢L$p¡ CO-OPERATIVE BANKS

25,000.00 KDCC B Ltd. - 25,000.00 ank M¡X$p Æ‰p d.k.b¢L$ gu 5,000.00 GSC B Ltd. - Ahmedabad - 5,000.00 ank NyS>.fpS>.kl. b¢L$ gu 30,000.00 Total - 30,000.00 kfhpmp¡ SLR Investments - A¡kA¡gApf fp¡L$pZp¡ Held To Maturity - ‘pL$su dyv$s dpV¡$ fpM¡g G.O.I. 07.40% 2035 - 21,551,844.6621,640,581.47 Æ.Ap¡.ApB. 07.40% 2035 0.00 Æ.Ap¡.ApB.08.33% 2036 G.O.I. 08.33% 2036 - 83,696,000.00

h¡QpZ dpV¡$ fpM¡g Available for Sale -

G.O.I. 08.20% 2022 - 31,188,252.98 Æ.Ap¡.ApB. 08.20% 2022 0.00

G.O.I. 08.33% 2036 - 93,748,861.36 Æ.Ap¡.ApB. 08.33% 2036 0.00

G.O.I. 06.83% 2039 - Æ.Ap¡.ApB. 06.83% 2039 39,260,053.96 39,260,053.96

362,537,115.56 Total Carried Forward - kfhpmp¡ ApNm gB Nep 144,507,898.62 129,615,520.11


7

Happiness is not based on your circumstances, but on a decision you make.






BALANCE SHEET AS ON 31-03-2018 - sp.31-3-2018“p fp¡S>“y„ kfh¥ey

8

Successful people are not gifted; they just work hard, then succeed on purpose.



280,862,157.58 Total Brought Forward - kfhpmp¡ ApNm gpìep 266,401,608.51 19,988,200.00

983,421.12 Sahkar Prachar Fund - klL$pf âQpf a„X$ 1,013,703.12

3,829,087.97 Share Holder Benefit Fund - kcpkv$ b¡“uauV$ a„X$ 4,010,781.97

4,035,300.23 Mahotsav Fund - dlp¡Ðkh a„X$ 4,126,147.23

270,262,866.90 Total - kfhpmp¡ 275,552,240.83

Deposits - ’p‘Zp¡ Current Deposit - Qpgy ’p‘Z 93,166,813.55 Individuals - ìeqL$sAp¡ 85,943,341.41

11,845,374.85 Other Societies - klL$pfu k„õ’pAp¡ 10,926,971.27

105,012,188.40 Total - kfhpmp¡ 96,870,312.68

Savings Deposit - bQs ’p‘Z 348,378,507.60 Individuals - ìeqL$sAp¡ 414,448,535.49

0.00 Other Societies - klL$pfu k„õ’pAp¡ 0.00

348,378,507.60 Total - kfhpmp¡ 414,448,535.49

Fixed Deposit - dyv$su ’p‘Z 1,103,276,978.72 Individuals - ìeqL$sAp¡ 1,237,233,929.45

71,296,617.28 Other Societies - klL$pfu k„õ’pAp¡ 79,953,262.55

1,174,573,596.00 Total - kfhpmp¡ 1,317,187,192.00

1,627,964,292.00 Total Deposits- Ly$g ’p‘Zp¡ 1,828,506,040.17

Borrowings - L$fS> 0.00 Reserve Bank of India - fuTh® b¢L$ Ap¡a BÞX$uep 0.00

0.00 Other Banks - AÞe b¢L$p¡ 0.00

0.00 Other Institutions & Agencies - AÞe k„õ’pAp¡ A“¡ A¡S>ÞkuAp¡ 0.00

0.00 Total - kfhpmp¡ 0.00

121,564.00 Bills for Collection - buëk ap¡f L$g¡L$i“ 383,675.00

0.00 Inter-Office Adjustments (Net) - BÞV$f-Ap¡auk A¡X$S>õV$d¡ÞV¹$k (“¡V$) 0.00

132,835,522.64 Overdue Interest Reserve - dyØshusu ìepS> A“pds 147,074,660.64

2,050,631,345.54 Total Carried Forward - kfhpmp¡ ApNm gB Nep 0.00 2,271,504,816.64






31-03-17 ASSETS - Aõ¼epdsp¡ 31-03-18 31-03-18


362,537,115.56 Total Brought Forward - kfhpmp¡ ApNm gpìep 144,507,898.62 129,615,520.11

Held For Trading - g¡-h¡Q dpV¡$ fpM¡g

10,001,000.00 GJ.S.D.L. 09.65% 2023 - Æ.A¡k.X$u.A¡g. 09.65% 2023 10,001,000.00

30,027,000.00 GJ.S.D.L. 08.05% 2025 - Æ.A¡k.X$u.A¡g. 08.05% 2025 30,027,000.00

G.O.I. 06.79% 2029-51,071,250.00 Æ.Ap¡.ApB. 06.79% 2029 101,282,500.00

MP.S.D.L. 07.38% 2026- 50,805,000.0050,805,000.00 A¡d`u.A¡k.X$u.A¡g.07.38%2026 G.O.I. 06.97% 2026- 52,373,750.0052,373,750.00 Æ.Ap¡.ApB. 06.97% 2026 380,115,749.77 Total SLR investment - Ly$g A¡k.A¡g.Apf. fp¡L$pZp¡ 388,997,148.62

Non - Statutory Liquidity Ratio - “p¡“-A¡kA¡gApf fp¡L$pZp¡ Held To Maturity - ‘pL$su dyv$s dpV¡$ fpM¡g 35,648,250.00 PFC 0% DDB 2022-‘u.A¡a.ku. bp¡ÞX$ 0% 2022 35,648,250.00

2,102,000.00 HUDCO BOND 2015-16 - lºX$L$p¡ V¡$n äu bp¡ÞX$ 2015-16 2,102,000.00

g¡-h¡Q dpV¡$ fpM¡g HELD FOR TRADING -

5,000,000.00 - guL$huX$ a„X$ eyV$uApB 0.00 Liquid Fund UTI

5,000,000.00 -bufgp k“gpBa deÃy Ag aX„ $ 0.00Birla Sunlife Mutual Fund

ICICI PRU Flexi Fund- 0.0010,000,000.00 ApBkuApBkuApB agn¡ u aX„ $

eVy $uApB bv$gpsp v$f/Ak¡ V$u‘u 15,000,000.00 UTI Floating Rate/STP- aX„ 5,000,000.00

buAk¡ Ag¡ bv$gpsp v$f 15,000,000.00 BSL Floting Rate- aX„ $ 0.00

Birla SL Saving Fund - 0.0010,000,000.00 bufgp Ak¡ Ag¡ bQs aX„ $ Birla Short Term Fund - 0.0010,000,000.00 bufgp V$„y L$u dvy $s“„ y aX„ $ 20,000,000.00 UTI Banking & PSU Debt Fund 0.00 eVy $uApB bL¢ $]N AÞ¡ X$ ‘uAk¡ ey X$¡åV$ aX„ $

0.00 HDFC Regular Savings Fund-AQ¡ X$uAa¡ ku fÁ¡ egy f kt¡ hÁk aX„ $ 15,000,000.00

0.00 Aditya BSL Medium Term Plan 15,000,000.00 Apqv$Ðe buAk¡ Ag¡ duX$$ued V$d® àgp“

0.00 Aditya BSL Corporate Bond Fund 20,000,000.00 Apqv$Ðe buA¡kA¡g L$p¡‘p£f¡V$ bp¡ÞX$ a„X$

127,750,250.00 Total Non SLR investment- Ly$g “p¡“ A¡k.A¡g.Apf. fp¡L$pZp¡ 92,750,250.00

Fixed Deposits With Other Banks - AÞe b¢L$p¡ ‘pk¡ bp„^u dyv$s ’p‘Zp¡ Private & Co-op. Banks - Mp“Nu s’p klL$pfu b¢L$p¡ 10,000,000.00 ICICI Bank - ApBkuApBkuApB b¢L$ 10,000,000.00

47,500,000.00 HDFC Bank - A¡QX$uA¡aku b¢L$ 72,300,000.00

40,000,000.00 Guj State Co-op Bank - NyS>.fpS>.kl. b¢L$ gu. 10,000,000.00

52,500,000.00 K. D. C. C. V.V.NAGAR - FDR - M¡X$p Æ‰p d.k.b¢L$ gu. 44,500,000.00

50,000,000.00 DCB Bank - X$ukubu b¢L$ 62,300,000.00

9,990,000.00 INDUSIND BANK-BÞX$kBÞX$ b¢L$ 9,900,000.00

Nationalized Banks - fpô²$ueL©$s b¢L$p¡ 500,000.00 UBI Bank - V.V.Nagar - eybuApB b¢L$ - h‰c rhÛp“Nf$ 500,000.00

210,490,000.00 Total Bank Deposits- Ly$g b¢L$ ’p‘Zp¡¡ 209,500,000.00

895,055,365.56 Total Carried Forward - kfhpmp¡ ApNm gB Nep 0.00 820,862,918.73






9

Every day do something that will inch you closer to a better tomorrow.










2,050,631,345.54 Total Brought Forward - kfhpmp¡ ApNm gpìep 0.00 2,271,504,816.64

Other Liabilities - AÞe S>hpbv$pfuAp¡

491,636.00 Unpaid Dividend - “l] QyL$hpe¡g X$uhuX$ÞX$ 629,120.00

382,399.00 Unpaid Gratuity - “l] QyL$hpe¡g N°¡S>eyBV$u 382,399.00

1,158,125.00 Leave Salary Payable - QyL$hhp‘pÓ fÅ ‘Npf 1,106,771.00

2,395,926.00 Interest Payable On Deposits - ’p‘Z“y„ QyL$hhp‘pÓ ìepS> 2,540,920.00

4,600,000.00 Int.pay.on Overdue FDR - dyv$shusu ’p‘Z“y„ QyL$hhp‘pÓ ìepS> 6,334,000.00

20,750.00 Suspense Account - kõ‘¡Þk Mpsy 293,446.58

132,172.11 Pay Order Issued - ‘¡ Ap¡X®$f BõeyX$ 2,569,938.05

2,415,000.00 Earnest Money - A“£õV$ d“u 2,415,000.00

1,057,537.00 T.D.S. Deduction - V$uX$uA¡k L$‘ps 873,764.00

900,000.00 Provision For Income Tax- BÞL$d V¡$n “u Å¡NhpB 600,000.00

2,239,852.00 Sundry Creditors - rhrh^ g¡Zv$pfp¡ 2,277,175.00

00.0 SGST Payable- A¡kÆA¡kV$u ‘¡A¡bg 80,818.03

0.00 CGST Payable- kuÆA¡kV$u‘¡A¡bg 80,818.03

0.00 IGST Payable- ApBÆA¡kV$u ‘¡A¡bg 35,145.26

15,793,397.11 Total - kfhpmp¡ 20,219,314.95


10 th47 Annual Report 2017-18th47 Annual Report 2017-18th47 Annual Report 2017-18






11th47 Annual Report 2017-18th47 Annual Report 2017-18th47 Annual Report 2017-18


31-03-17 ASSETS - Aõ¼epdsp¡ 31-03-18 31-03-18


895,055,365.56 Total Brought Forward - kfhpmp¡ ApNm gpìep 0.00 820,862,918.73

Loans and Advances - gp¡“ A“¡ rOfpZp¡

319,221,372.28 (i) Short-term loans, cash credits, overdrafts and bills 448,141,971.73 discounted Of which secured against Vy„$L$u dyv$s “u gp¡“ s’p r^fpZp¡ 19,245,072.17 a) Government and other approved securities 36,975,871.83 A) kfL$pfu L¡$ dpÞe Ådu“Nufu“p spfZ kpd¡ 285,948,904.65 b) Other tangible securities 408,597,318.66 b) AÞe hpõsrhL$ Ådu“Nufu“p spfZ kpd¡ 13,613,145.45 Of which overdue 12,758,942.03 s¡ ‘¥L$u dyv$srhsu r^fpZ 10,927,959.45 Considered bad and doubtful of recovery 11,287,584.53 s¥ ‘¥L$u Mfpb A“¡ iL$d„v$ r^fpZp¡ 231,972,788.25 (ii) Medium-term loans Of which secured against: 319,844,235.70 dÂed dyv$s “u gp¡“ s’p rOfpZp¡ 5,878,438.07 a) Government and other approved securities 21,354,402.42 A) kfL$pfu L¡$ dpÞe Ådu“Nufu“p spfZ kpd¡ 224,202,277.11 b) Other tangible securities 298,069,642.28 b) AÞe hpõsrhL$ Ådu“Nufu“p spfZ kpd¡ 2,416,512.77 Of which overdue 2,254,601.47 s¡ ‘¥L$u dyv$srhsu r^fpZ 997,523.47 Considered bad and doubtful of recovery 974,461.47 s¥ ‘¥L$u Mfpb A“¡ iL$d„v$ r^fpZp¡ 408,727,300.87 (iii) Long-term loans Of which secured against: 483,137,479.42 gp„bu dyv$s “u gp¡“ s’p rOfpZp¡ 5,847,521.74 a) Government and other approved securities 7,387,367.71 A) kfL$pfu L¡$ dpÞe Ådu“Nufu“p spfZ kpd¡ 400,607,564.13 b) Other tangible securities 475,750,111.71 b) AÞe hpõsrhL$ Ådu“Nufu“p spfZ kpd¡ 2,564,740.62 Of which overdue 2,359,470.57 s¡ ‘¥L$u dyv$srhsu r^fpZ 2,152,298.00 Considered bad and doubtful of recovery 1,805,373.45 s¥ ‘¥L$u Mfpb A“¡ iL$d„v$ r^fpZp¡

959,921,461.40 Total Loans and Advances - Ly$g r^fpZp¡ 1,251,123,686.85



Don’t hate what you don’t understand.






Date : 05-05-2018Place : Vallabh Vidyanagar

31-03-17 c„X$p¡m s’p v$¡hy„ 31-03-18 31-03-18 CAPITAL & LIABILITIES -



Staff Provident Fund - õV$pa âp¡huX$ÞV$ a„X$ 2,434,326.00 2,556,022.00

Balance In Profit And Loss Account9,900,000.00 - “ap “yL$kp“ Mpsp“u bpL$u 15,000,000.00

2,078,759,068.65 Grand Total - L$y$g kfhpmp¡ 0.00 2,309,280,153.59

Contingent Accounts - ApL$[õdL$ / k„cqhs S>hpbv$pfuAp¡

5,537,483.00 Bank's Liabilities for Gurantee Issue - N¡f„V$u dpV¡ b¢L“u$$S>hpbv$pfu 6,623,234.00

6,694,559.86 Liabilities for ApfbuApB X$uBA¡A¡a - 2014 16 087 Deaf - 2014 A/C. - 7,2 , .96

Total - 13, , .96 12,232,042.86 kfhpmp¡ 839 321

2,090,991,111.51 Grand Total - Ly$g kfhpmp¡ 2,323,119,475.55

ipl L¥$gpi A¡ÞX$ A¡kp¡kue¡V¹$k

QpV®$X®$ A¡L$pDÞV$ÞV

‘¡“g “„bf 289, kyfs

îu dyLy$Þv$ A¡“. ‘V¡$g (CA)d¡“¡Æ„N X$uf¡¼V$f

îu qL$fZcpB A¡d. ‘V¡$g (CA)Q¡fd¡“

îu L$dg¡i A¡d. ‘V¡$gS>“fg d¡“¡S>f

îu dyL¡$icpB Apf. ‘V¡$ghpBk Q¡fd¡“


The ultimate source of a happy life is the attention we pay to our inner values. ~ Dalai Lama






31-03-17 ASSETS - Aõ¼epdsp¡ 31-03-18 31-03-18 Rs. Ps. Rs. Ps. Rs. Ps.


Other Assets - AÞe rdëL$sp¡ Fixed Assets - õ’phf rdëL$sp¡ 66,415,113.00 Land & Building - Bdpfs S>du“ krls 66,283,001.70 Other Fixed Assets - AÞe õ’phf rdëL$sp¡ 1,496,622.28 Safe Deposit Vault - k¡a X$u‘p¡TuV$ hp¡ëV$ 1,272,128.94 4,137,565.16 Furniture & Fixtures (Dead Stock) - ar“®Qf A“¡ auL$kQk® 3,801,806.11 Stationery & Stamps - õV$¡$i“fu A“¡ õV¡$çàk 168,981.00 Stationery Stock - õV¡$i“fu õV$p¡L$ 248,049.00 1,031,930.00 Stock of Stamps for Sale - h¡QpZ dpV¡$“p õV¡$ç‘“p¡ õV$p¡L$ 2,117,960.00 4,527,493.13 Other Assets - AÞe rdëL$sp¡ 4,330,562.26

Miscellaneous Assets - ‘fQyfZ rdëL$sp¡ 1,500,000.00 Deposit with Clearing Corp. of India - CCIL ‘pk¡ X$u‘p¡TuV$ 1,500,000.00 5,000.00 Locker Deposit KDCC Bank - gp¡L$f X$u‘p¡TuV$-M¡.Æ.d.k. b¢L$ 5,000.00 99,723.00 IT Receivable AY-2011-12 - dmhp‘pÓ AphL$h¡fp¡ 2011-12 99,723.00 0.00 Roof Top Solar Power System-ê$a V$p¡‘ kp¡gf ‘phf kuõV$d 465,268.18 1,500.00 Telecom Deposit A/c. - V¡$guap¡“ X$u‘p¡TuV$ 1,500.00 -A¡k.Apf.Ap¡ X$u‘p¡TuV$ 2,000.00 S.R.O. Deposit 2,000.00

79,385,927.57 Total - kfhpmp¡ 80,126,999.19

121,564.00 Bills for Collection - buëk ap¡f L$g¡¼i“ 383,675.00

0.00 Inter-office Adjustments (Net) - BÞV$f Ap¡auk A¡X$S>õV$d¡ÞV¹$k (“¡V$) 0.00

Interest Receivable - dmhp‘pÓ ìepS>

132,835,522.64 Int. Receivable-Advances - rOfpZp¡ ‘f dmhp‘pÓ ìepS> 147,074,660.64

Int. Receivable-investments - fp¡L$pZp¡ ‘f dmhp‘pÓ ìepS> 4,651,999.00 a. Int. Receivable on G.O.I. - Æ.Ap¡.ApB. “y„ dmhp‘pÓ ìepS> 5,073,250.00 4,214,363.00 b. Int. Receivable on FDR - ’p‘Zp¡ ‘f dmhp‘pÓ ìepS> 1,617,776.00 141,701,884.64 Total - kfhpmp¡ 153,765,686.64 2,434,326.00 Staff Provident Fund - õV$pa âp¡rhXÞV$ a„X$ 2,556,022.00 SGST/ CGST/ IGST RECEIVABLE A¡kÆA¡kV$u/kuÆA¡kV$u/ApBÆA¡kV$u fukuh¡bg A¡kÆA¡kV$u fukuh¡bg 0.00 SGST Receivable- 152,947.61 CGST Receivable-0.00 kuÆA¡kV$u fukuh¡bg 152,947.89 0.00 IGST Receivable - ApBÆA¡kV$u fukuh¡bg 109,715.68 0.00 Total - kfhpmp¡ 415,611.18

2,078,620,529.17 Grand Total - Ly$g kfhpmp¡ 2,309,234,599.59

CONTINGENT ACCOUNTS ApL$õduL$ / k„chus MpspAp¡ 5,537,483.00 CUSTOMER LIAB. FOR GURANTEE ISSUE 6,623,234.00

N¡f„V$u dpV¡$ N°plL$p¡“u S>hpbv$pfu 6,833,099.34 RBI DEAF - 2014 A/C.ApfbuApB X$uBA¡A¡a-2014 7,261,641.96 13,884,875.96 2,090,991,111.51 GRAND TOTAL-Ly$g kfhpmp¡ 2,323,119,475.55

31-03-17 - MQ® 31-03-18 31-03-18EXPENDITURE


Int. Paid Customer Deposit - ’p‘Zp¡ ‘f Q|L$h¡g ìepS> 101,801,269.00 111,039,449.00

Int. Paid on Borrowing - L$fS> ‘f QyL$h¡g ìepS> 69,291.84 344,812.27

0.00 Directors Fees and Expenses - X$uf¡L$V$f au A“¡ MQ® 0.00

Rent, Taxes, Lighting and Insurance - cpXy$, h¡fp, rhS>mu s’p hudp¡ 2,994,094.00 2,967,159.00

Printing, Stationery and Advertisement - râÞV$]N, õV¡$i“fu s’p Ål¡fps 599,520.50 439,798.56

Repairs, Maintenance and Depreciation - Okpfp¡ A“¡ dfpds 2,605,525.09 3,473,282.27

Auditor's Fees & Exp. - Ap¡X$uV$f au A“¡ MQ® 225,000.00 275,000.00

Legal Fee Expenditure - guNg au 37,500.00 102,000.00

Postage, Telegram & Telephone - V$‘pg s’p V¡$guap¡“ 233,122.37 500,963.46

Salary & Wages - L$d®Qpfu ‘Npf A“¡ Å¡NhpB 19,034,823.00 17,544,841.00

0.00 Deposit Written Off - dp„X$hpm L$f¡g ’p‘Zp¡ 0.00

Loss on Sale of Investments - fp¡L$pZp¡“p h¡QpZ’u ’e¡g Mp¡V$ 741,507.91 8,157,114.34

450,000.00 Branch Expenses - ipMp MQ® 0.00

Other Expenditures - AÞe MQ® 5,685,951.57 5,349,814.62

Provisions - Å¡NhpBAp¡

3,331,227.43 0.00 Reserve Fund - fuTh® a„X$

For Standard Assets - õV$pÞX$X®$ A¡k¡V¹$k dpV¡$ 957,676.00 1,360,000.00

5,405,916.00 Income Tax - AphL$ h¡fp¡ 5,012,253.15

9,694,819.43 Total - kfhpmp¡ 6,372,253.15

Balance Carried to Balance Sheet - kfh¥ep Mps¡ gB Nep 9,900,000.00 15,000,000.00

154,072,424.71 Grand Total - Ly$g kfhpmp¡ 171,566,487.67

PROFIT & LOSS AS ON 31-03-2018 - sp.31-3-2018 “p fp¡S>“y„ “ap “yL$kp“ Mpsy

If we are together nothing is impossible. If we are divided all will fail. ~ Winston Churchil





Date : 05-05-2018Place : Vallabh Vidyanagar

ipl L¥$gpi A¡ÞX$ A¡kp¡kue¡V¹$k

QpV®$X®$ A¡L$pDÞV$ÞV

‘¡“g “„bf 289, kyfs

îu dyLy$Þv$ A¡“. ‘V¡$g (CA)d¡“¡Æ„N X$uf¡¼V$f

îu qL$fZcpB A¡d. ‘V¡$g (CA)Q¡fd¡“

îu L$dg¡i A¡d. ‘V¡$gS>“fg d¡“¡S>f

îu dyL¡$icpB Apf. ‘V¡$ghpBk Q¡fd¡“


31-03-17 INCOME - AphL$ 31-03-18 31-03-18


Interest Received - dm¡g ìepS>

Int. received Loans and Advances - qOfpZp¡> 101,155,169.90 114,638,895.20

Int. received From Fixed Deposits - 16,119,444.00 auL$k X$u‘p¡TuV$ 15,231,298.79

Int. received on Govt. Sec. - kfL$pfu Ådu“Nufu 25,246,622.91 27,981,128.76

Int. received on Call Money - L$p¡g d“u 4,994,108.15 1,906,118.28

147,515,344.96 159,757,441.03 Total - kfhpmp¡

Commission, Exchange & Brokerage - L$rdi“, hV$ph A“¡ v$gpgu

Commission - L$rdi“ 144,117.00 217,242.47

Commission on Stamp Franking - õV¡$ç‘ ä¡ÞL$]N “y„ dm¡g L$rdi“ 245,286.00 361,423.92

Total - kfhpmp¡ 389,403.00 578,666.39

Profit on Sale of Inv./Assets - fp¡L$pZ / AõL$epds h¡QpZ ‘f“p¡ “ap¡

5,246,258.77 Profit on Sale of Investment /Capital gain- fp¡L$pZ“p h¡QpZ“p¡ “ap¡ 6,102,823.35

Miscellaneous Income - ‘fQ|fZ AphL$

Share Transfer Fee - i¡f V²$pÞkaf au 419.00 201.00

Locker Rent - gp¡L$f cpXy„$ 25,804.00 33,200.00

Miscellaneous Income - ‘fQ|fZ AphL$ 0.00 22,413.00

Share Divi. GSCB / KDCC 3,750.00 3,750.00 i¡f X$uhuX$ÞX$ - ÆA¡kkubu/L¡$X$ukuku A/c Maint. Charges - Mpsp ÅmhZu MQ® 10,360.00 11,075.43

Provision No Longer Required - Å¡NhpBAp¡“u fL$d - ‘fs 741,507.91 3,805,500.07

0.00 Income tax Refund BÞL$dV¡$n fua„X$ 401,897.00 -

139,577.07 ATM Charges / POS - A¡.Vu.A¡d /‘uAp¡A¡k QpÆ®k 805,680.40

Interest On Incometax Refund BÞL$dV¡$n fua„X$ ‘f dm¡g ìepS> 43,840.000.00 -

Total - kfhpmp¡ 921,417.98 5,127,556.90

154,072,424.71 Grand Total - Ly$g kfhpmp¡ 171,566,487.67

PROFIT & LOSS AS ON 31-03-2018 - sp.31-3-2018“p fp¡S>“y„ “ap “yL$kp“ Mpsy

You must be the change you wish to see in the world. ~ Mahatma Gandhi

’p‘Zv$pfp¡ dpV¡$ ANÐe“u Ål¡fpsb¢L$“p v$f¡L$ ’p‘Zv$pfp¡“¡ S>Zphhp“y„ L¡$ hj® 2015-16 dpV¡$ L¡$ÞÖ kfL$pf“p bS>¡V$dp„ Ål¡fps ’ep dyS>b spfuM 01/06/2015 ‘R>u L$p¡B‘Z klL$pfu b¢L$“p ’p‘Zv$pfp¡ L¡$ S>¡Ap¡ kcpkv$ lp¡e L¡ “p lp¡e s¡Ap¡“u ìepS>“u AphL$ hprj®L$ ê$p. 10,000/- (A„L¡$ ê$r‘ep v$k lÅf ‘yfp) L¡ s¡’u h^y li¡ s¡ sdpd ’p‘Zv$pfp¡“p

ìepS> dp„’u “uQ¡“u ifsp¡“¡ Ap^u“ TDS L$‘ps L$fhpdp„ Aphi¡.

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3. A¡kp¡iue¡i“ Ap¡a ‘k®Þk (AOP) / V²$õV$ / “p¡“ ‘°p¡auV$ Ap¡N£“pBT¡i“ / krh®k kp¡kpeV$u “u ìep¿epdp„ Aphsp ’p‘Zv$pfp¡ ap¡d® 15-Æ kp’¡ ‘p“L$pX®$

Ap‘i¡ A’hp BÞL$dV¡$n Ap¡auk dp„’u TAX-EXEMPTION (h¡fp dpau) “y„ âdpZ‘Ó d¡mhu“¡ s¡“u “L$g fSy> L$fi¡ sp¡ ìepS>“u AphL$ ‘f TDS L$p‘hpdp„ “l] Aph¡.

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dpsp) “y„ ‘p“L$pX®$ fSy> L$fhy„ ‘X$i¡ sp¡ 10% “p v$f¡ TDS L‘ps ’i¡, AÞe’p 20% “p v$f¡ TDS L$‘ps ’i¡. kNuf“p hpguAp¡ (r‘sp/dpsp) “u AphL$ Å¡

L$f‘pÓ (TAXABLE) “p ’su lp¡e sp¡ s¡Ap¡ TDS L$‘ps “l] L$fhp dpV¡$ ap¡d® 15-Æ Ap‘u iL$i¡.






It’s easy to quit, it takes faith to go through.

(A) Significant Accounting Policies:

1) Basis of Preparation : The accounts are prepared on historical cost basis as a going concern, following the mercantile system of accounting and

recognizing income and expenditure on accrual basis. Accounting policies not specifically referred to otherwise are consistent and in conformity with the generally accepted accounting principles.

2) ADVANCES: a) Advances are classified in to Performing and Non-Performing Assets and provision is made as per IRAC norms of RBI. b) Advances are stated at gross value while provision for performing & Non-Performing Assets as per RBI guidelines is shown

under the head “Reserve & Other Funds” under sub head “Bad Debt Reserve”.

3) Use of Estimates : The Preparation of financial statement requires the management to make estimates and assumptions considered in the

reported income and expenses during the reporting period. Management believes that the estimates used in the preparation of the financial statements are prudent and reasonable. Future results could differ from these estimates. Any revision to the accounting estimation is recognized prospectively in the current and future periods.

4) Fixed Assets : Fixed Assets are stated at cost, (except plot no. K-49,50) less accumulated depreciation. Costs include all expenses incurred

to bring the assets to its present location and condition related thereto.

5) Depreciation: Depreciation is taken on W.D.V. of the assets and depreciation on such a ssets has been c alculated at the rate applicable

under the Income Tax Act.

6) Impairment of Assets : At each balance sheet's data, the bank assets whether there is any indication that an assets may be impaired. If any indication

exists, the recoverable amount of the assets is estimated. An impairment loss is recognized immediately, whenever the carrying amount of an assets exceed its recoverable amount. The recoverable amount is the greater of net selling price and value in use. In accessing value in use, estimated future cash flows are discounted to their present value based on appropriate discount factor.

7) Investments: (A) Investment are categorized as under 1. S.L.R. Investments 2. Non S.L.R. Investments 3. Shares of Cooperative banks 4. Fixed Deposits with Other Banks (B) Investment are further classified as 1. Held to Maturity comprising of investment acquire with the intention to hold them till maturity. 2. Held for Trading comprising of investment acquire with the intention to trade. 3. Available for sale comprising of investment, which is not classified in above two categories. (C) Investment classified as HTM are carried at acquisition cost unless it is more than face value, In which case premium is

amortize over the period remaining to maturity. (D) Investment classified as HFT and AFS mark to market script wise and the resultant depreciation are recognized in IDR

(Investment Depreciation Reserve) account. Net appreciation is ignored. (E) Profit or loss on sale of investment is taken to the profit and loss account.

8. Revenue Recognition : Income/Expenditure are accounted on accrual basis except the following are accounted on cash basis. (a) Income 1 Commission and Brokerage 2 Interest on Non Performing Asset 3 Locker Rent. 4 Dividend on Investment (b) Expenditure 1 Annual Maintenance Contract Charges

2 Leave encashment.

3 Legal and other sundry expenses incurred in suit filled account

4 DICGC premium





SIGNIFICANT ACCOUNTING POLICIES & NOTES ON ACCOUNTS


Goodness is the only investment that never fails. ~ Henry David Thoreau





9) STAFF RETIREMENT BENEFITS:

a) Salaries, paid annual leave, Bonus etc. are accrued in the year in which the services are rendered by employees.

b) The bank has defined contribution plans for post employments benefit in forms of Provident Fund. Bank has made following contribution to LIC of India and charged to profit and loss accounts.

Particulars 31-03-2018

PF Contribution Rs. 12,69,225/-

c) The bank has defined benefit plans for post employment benefit in the form of gratuity for all employees administrated through trust, funded with Life Insurance Corporation of India. Bank has charged to the profit and loss account, the amount of following contribution under defined contribution plan made to LIC.

Particulars 31-03-2018

Staff gratuity Rs. 50,000/-

10) Taxation:

A) Current Tax – Current year Tax is provided as per the provisions of IT Act, 1961.

B) Deferred Tax-Deferred tax expenses or benefits recognized on timing differences between taxable income and accounting income originating during the current year and reversal of time differences for the earlier years. Deferred tax is measured using the tax rates and the tax laws enacted or substantively enacted at the reporting date.

11) Provision:

Provision involving substantial degree of estimation in measurement is recognized when there is a present obligation as a result of past event and it is probable that there will be an outflow of resources even though the amount cannot be determine with certainty and represents only a best estimate in the light of available information. Contingent liabilities are not recognized but are disclosed in notes. Contingent assets are neither recognized nor disclosed in financial statements.

12) Segment Reporting :

The Entire Operation of the Bank is one composite Banking Business not liable to different risks and rewards. Consequently in the opinion of the Bank Accounting Standard 17 on “Segment Reporting” issued by the Institute of Chartered Accountants of India is not applicable to the Bank.

(B) NOTES ON ACCOUNTS :

1. Previous Year's figures have been regrouped / rearranged / recast to the extent necessary.

2. Capital to Risk Asset Ratio (CRAR) as on 31st March 2018 was 13.30 % as against minimum requirement of 12 % prescribes by RBI.

3. Advances

a. Balances under the head “Advances”, “Deposits” and other accounts (Liability) are subject to reconciliation and confirmation of customers.

b. Classification of advances covered by Book Debts is reported under the head “Advances secured by tangible asset” as per RBI guidelines.

c. Bank has achieved priority sector advances of 60.76% against the target of 40 % while in case of advances to weaker section it is 23.20% of Total Advance of Priority Sector Advances.

d. Required provision for standard assets has been made by the bank as per RBI guidelines.

4. Contingent Liability

Bank has given guarantee of Rs. 66,23,234/- on behalf of various customers against fixed deposit of Rs.63,53,013/-.

5. Income Tax

Income of the bank is liable to tax under the Income Tax Act, 1961. Accordingly provision of Rs. 50,12,253.15/- is made for Income Tax. Advance Tax and TDS paid for the current year are Rs. 50,12,253.15/-.

6. No penalty is imposed by RBI during the year for violation of any law.

7. Inter branch accounts and Inter bank accounts are reconciled up to 31st March, 2018 and no provision is required to be made in respect of items outstanding therein.

8. Bank is not authorized to deal in foreign exchange.

9. Fixed Deposits of Rs. 2095.00 lakh includes Rs. 1654.79 lakh under lien with other banks for various banking arrangements.

10. Bank has paid DICGC premium of Rs.9.21 lakh insuring deposit of Rs. 184.23 Cr. for the year ending on 31st March, 2018 based on deposit as on 31st March, 2018.


Worry increases pressure, prayer releases peace.

11. Revaluation of Assets (AS-10) Bank had revalued its assets i.e. land and building during the year 2016-17. The Book Value of the assets and revaluation of the assets was as under:

Assets Book Value Revaluation

Land (Plot No. K49 & 50) 45,90,537.00 6,50,94,000.00

Bank has created revaluation reserve of Rs. 60503463/- being the difference of revaluation and book value of the assets.

12. Accounting Standard 6 ( Depreciation Accounting ) :

Depreciation is not provided for on the assets sold / disposed off during the accounting year, till the time of sell / disposal as mandated by the accounting standard.

13. The bank operations are solely in the banking services industry including investment / treasury operation. As interest income exceeds 97 % of the total revenue of the bank, there is no reportable segment in pursuance of Accounting Standard – 17 (Segment Reporting) issued by the Institute of Chartered Accountants of India.

14. Guarantees given on behalf of constituents are as follows: (Rs. In Lacs )

31.03.2017 31.03.2018

55.37 66.23

15. At the end of the year bank is having unclaimed deposits Rs. 6,59,000 which are transferred to Reserve Bank of India as per direction issued by them under The Depositor Education and Awareness Fund Scheme (DEAF).

16. The bank does not pay any remuneration to any of its directors in term of Reserve Bank of India's circular dated 29/03/2003.

Balance sheet of Banks - Disclosure of Information

As Per RBI Circular UBD.CO.BPD.(PCB) Cir. No. 52/12.05.001/2013-14 dated March 25. 2014.

1. Capital to Risk Weighted Asset Ratio(CRAR): As on 31 March 2018 : 13.30%

2. Movement of CRAR:-

31-03- 2017 : 14.59% 31-03-2018 : 13.30%

3. Investments

a) Book value and Face value of investments : Rs. 3889.97 Lakh, Rs. 3800.00 Lakh

b) Market Value of investments : Rs. 3735.58 Lakh

c) Details of Issuer Composition of non-SLR

Investment and non performing non-SLR Investment

Issuer Composition of Non SLR Investments: (Rs in Lakh)

No. Issuer Amount Extent of "Below Investment Extent of "Unrated" Extent of "Unlisted”

(Rs. in Lakh) Grade" Securities Securities Securities

(1) (2) (3) (4) (5) (6)

1 PSUs 356.48

2 FIs 0.00

3 Public Sector Banks 0.00

4 Mutual Funds 550.00

5 Others 21.02

6 Provision held 368.23

Towards Depreciation

Issuer Composition of Non-SLR Investments:

Particulars Amount (Rs. In Lakh)

Opening Balance 1277.50

Additions During the year since 1st April 500.00

Reduction During the above period 850.00

Closing Balance 927.50

Total Provisions held 0.00





Shah Kailash & AssociatesChartered Accountants(FRN109647W)

Date : 30-04-2018Place : Anand


Worry increases pressure, prayer releases peace.





4. Advances against

Real Estate (Excluding Construction Of Housing Loan) : Rs. 300.23 Lakh

Construction Business : Rs. 1066.79 Lakh

Housing : Rs. 1019.95 Lakh

5. Advances against shares & debentures : Rs. 0.00

6. Advances to Directors, their relatives companies/firms in which they are interested

a) Fund Based :Rs. 16.86 Lakh

b) Non-Fund based (Guarantees, L/C, etc.) :Rs. 0.00 Lakh

7. Cost of Deposits : Average cost of deposits : 6.45%

8. NPAs:

a) Gross NPAs :Rs. 140.67 Lakh

b) Net NPAs : Rs. 0.00

9. Movement in NPAs: 31/3/2017 31/3 2018

Gross NPAs 140.78 Lakh 140.67 Lakh

Net NPA % 0.00 0.00

10. Profitability:

a) Interest income as a percentage of working funds : 7.61%

b) Non-interest income as a percentage of working funds : 0.56%

c) Operating profit as a percentage of working funds : 1.02%

d) Return on Assets : 8.17%

e) Business (Deposits + Advances) per employees :Rs. 832.33 Lakh

f) Profit per employees :Rs. 405405.40 Lakh

11. Provisions made toward

NPAs :Rs. 639.43 Lakh

Depreciation in investments :Rs. 368.23 Lakh

Standard Assets :Rs. 56.10 Lakh

12. Movement in provisions : 31/3/2017 3 1/3/2018(Rs. In Lakh)

a) Towards NPAs Rs. 624.58 Lakh Rs. 639.43 Lakh

b) Towards depreciation on investments Rs. 406.29 Lakh Rs. 368.23 Lakh

c) Towards Standard Assets Rs. 42.50 Lakh Rs. 56.10 Lakh

13. Foreign currency assets & liabilities (if applicable) : N.A

14. Payment of DICGC insurance Premium : Rs. 9.21 lakh

15. Penalty imposed by RBI : N.A

UCBS are also required to disclose the penalty imposed by RBI in the ‘Notes on Accounts’ to their Balance Sheet

16. Restructured Accounts : NIL

UCBS are also required to disclose in their published annual Balance Sheet the amount and number of accounts in respect of

which applications for restructuring are under process, but the restructuring packages have not yet been approved.

(UBD.PCB.BPD.NO.53/ 13.05.000/ 2008-09 dated March 06,2009 and UBD.PCB.BPD.60/ 13.05.000/ 2008-09 dated April 20,2009)

17. Fixed-Assets-Valuation/Revaluation

UCBS are required to have in place comprehensive policy for revaluation of fixed assets owned by them. UCBs are required to disclose regarding the details of revaluation such as the original cost of the fixed assets subject to revaluation and accounting treatment for appreciation/ depreciation etc. banks are advised to make proper disclosure regarding changing the frequency of revaluation. ( UBD.PCB.MC.No.26/ 13.05.000/2006-07 dated January 09, 2007)

18. DEAF Scheme 2014 31.03.2017 31.03.2018 a) Opening balance of amounts transferred to DEAF 64,44,714.91 68,33,089.34

b) Add: Amounts transferred to DEAF during the year 3,99,320.74 6,59,335.00

c) Less: Amounts reimbursed by DEAF towards claims 10,946.31 2,28,707.17

d) Closing balance of transferred to DEAF 68,33,089.34 72,63,717.17


Doing what you like is freedom. Liking what you do is happiness.





Doing what you like is freedom. Liking what you do is happiness.

(Rs in Lacs)

Sr. Particulars rhNs 31-03-17 31-03-18

1 Capital d|X$u 194.47 199.98

2 Reserves A“pdsp¡ 2702.63 2755.52

3 Net Worth “¡V$h’® 1938.80 2018.68

4 Working Capital L$pe®L$pfu d|X$u 18827.25 20986.05

5 Provision for Standard Assets õV$pÞX$X®$ A¡k¡V¹$k dpV¡$ Å¡NhpB 42.50 56.10

6 Total Deposits Ly$g ’p‘Zp¡ 16279.64 18285.06

Increase (%) h^pfp¡ (%) 19.32% 12.32%

7 Total Advances Ly$g r^fpZp¡ 9599.21 12511.24

Increase (%) h^pfp¡ (%) 25.92% 30.34%

8 Priority Sector Advances âp’rdL$ n¡Ó¡ r^fpZ 6038.00 7602.14

% of Total Advances Ly$g r^fpZ“p V$L$p 62.90% 60.76%

9 Credit / Deposit Ratio r^fpZ/’p‘Z NyZp¡Ñf 58.96% 68.42%

10 Total Investments Ly$g fp¡L$pZp¡ 7183.86 7093.79

11 SLR Investments SLR fp¡L$pZp¡ 3801.16 3889.97

% of Total Investments Ly$g fp¡L$pZp¡“p V$L$p 52.91% 54.84%

12 Average cost of funds a„X$“u kf¡fpi ‘X$sf 7.24% 7.70%

13 Average cost of Deposits ’p‘Zp¡“u kf¡fpi ‘X$sf 6.79% 6.45%

14 Average yield on Advances r^fpZp¡“u kf¡fpi D‘S> 11.76% 10.03%

15 Business per Employee L$d®Qpfu v$uW$ rbT“¡k 784.21 832.33

16 Gross NPA 140.78 140.67

% to Gross Advances 1.47% 1.12%

17 Capital Adequacy Ratio d|X$u-‘ep®ásp NyZp¡Ñf 14.59% 13.30%

18 Staff cost to total income õV$pa MQ® Ly$g AphL$“p V$L$p 12.41% 10.30%

19 Cost / Revenue Ratio MQ®/AphL$ NyZp¡Ñf 87.28% 82.82%

20 Net Income per staff L$d®Qpfu v$uW$ AphL$ 3.09 4.05

21 No of regular share holders kcpkv$ k„¿ep 13976 14317

Nominal Share holders “p¡du“g kcpkv$ k„¿ep 99 132

22 Earning per share i¡f v$uW$ L$dpZu 50.91 75.00

23 Term Deposits / Total Deposits dyv$su ’p‘Zp¡/Ly$g ’p‘Zp¡„ 72.15% 72.03%

24 Investment Dep. Reserve fp¡L$pZ-Okpfp A“pds 406.29 368.23

25 Advance to Directors (FDOD) X$uf¡¼V$fp¡“¡ L$f¡g r^fpZ 0.41 16.86

26 Housing Loan lpDk]N gp¡“ 918.13 1019.95

27 NPA Provision NPA dpV¡$ Å¡NhpB 624.58 639.43

Required Provision S>ê$fu Å¡NhpB 140.78 140.67

Excess Provision Made h^pfp“u Å¡NhpB 483.80 498.76

BANK'S COMPARATIVE FINANCIALS & RATIOS IN BRIEF : 2017-2018b¡ÞL$“u syg“pÐdL$ “pZp„L$ue dprlsu A“¡ NyZp¡Ñf : 2017 - 2018


vvccbank.com Annual report 2017-18.pdf · Auditor's Report 3 Don’t let a hard lesson harden your...

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