BNB Annual Report Cover New Final - Bhagini Nivedita Bank

46 dm dm{f©H$ Ahdmb2018-2019

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‘hmamï´> emgZmMmghH$ma{Zð> nwañH$ma

Jobr 22 df} gmVË`mZo 15% {S>ìhrS>§S>

~±Ho$À`m ñWmnZonmgyZ gmVË`mZo {Zìdi Z\$m (Net Profit)

{X.31/03/2019 d nyduMr gbJ 7 df} é.10 H$moQ>tnojm

OmñV Amho.

T>mo~i AZwËnm{XV H$O©(Gross NPA) gmVË`mZo H$_r hmoV Jobr 14 df} 3.5% nojm H$_r {X.31/03/2019 amoOr

1.04%

Mobile Banking, IMPS, Bill Payment, E-Com.,

RTGS, NEFT, POS

‘hmamï´> emgZmMm ghH$ma ^yfU nwañH$ma

{Zìdi AZwËnm{XV H$O© (Net NPA) Jobr 16

df} gmVË`mZo 0% Amho.

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46 dm dm{f©H$ Ahdmb2018-2019

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1) {X. 10/08/2018 amoOr Pmboë`m dm{f©H$ gd©gmYmaU gôMo B{Vd¥Îm dmMyZ H$m`_ H$aUo.

2) ~±Ho$À`m Am{W©H$ df© 2018-2019 À`m H$m`m©~ÔbÀ`m AhdmbmMr _m{hVr KoUo d ñdrH¥$V H$aUo. VgoM ~±Ho$Mo XyaJm_r YmoaU d dm{f©H$ Üò`YmoaU `mg _mÝ`Vm XoUo.

3) {X. 31/03/2019 AIoa g§nboë`m Am{W©H$ dfm©Mo boIm nar{jV Vmio~§X d Z\$m-VmoQ>m nÌH$mMm {dMma H$aUo d ñdrH¥$V H$aUo.

4) Am{W©H$ df© 2018-2019 À`m d¡Ym{ZH$ boImnarjU Ahdmbmda d Am{W©H$ df© 2017-2018 À`m d¡Ym{ZH$ boImnarjU XmofXþéñVr Ahdmbmda {dMma H$aUo d ñdrH¥$V H$aUo.

5) _m.g§MmbH$ _§S>imZo Ho$boë`m {e\$maetZwgma Am{W©H$ df© 2018-2019 À`m Z\$m dmQ>Urg _mÝ`Vm XoUo VgoM bm^m§e Omhra H$aUo.

6) _m.g§MmbH$ _§S>imZo V`ma Ho$boë`m Am{W©H$ df© 2019-2020 À`m CËnÞ-IMm©À`m A§XmOnÌH$mg _mÝ`Vm XoUo d _mJrb 3 dfmªÀ`m àJVrMr _m{hVr KoUo.

7) ~±Ho$À`m _m.g§MmbH$m§Zm d Ë`m§Mo ZmVodmBH$m§Zm Am{W©H$ df© 2018-2019 _Üò {Xboë`m H$OmªMr, _hmamï´> amÁ` ghH$ma H$m`Xm H$b_ 75(2) Zwgma _m{hVr KoUo.

8) Am{W©H$ df© 2019-2020 gmR>r ‘o. Or.S>r.AmnQ>o A±ÊS> H§$nZr, MmQ>©S>© AH$m¡Q>§Q>g² `m§Mr d¡Ym{ZH$ boImnarjH åhUyZ Zo_UyH$ H$aUo d Ë`m§Mm _ohZVmZm R>a{dUo.

9) Am{W©H$ df© 2020-2021 gmR>r A§VJ©V boImnarjH$m§Mr {Z`wŠVr H$aÊ`mMo d Ë`m§Mm _ohZVmZm R>a{dÊ`m~m~VMo A{YH$ma _m. g§MmbH$ _§S>img XoÊ`m~m~V {ZU©` KoUo.

10) _m. g§MmbH$ _§S>imZo {e\$mag Ho$boë`m ñQ>mq\$J n°Q>Z©bm _mÝ`Vm XoUo.

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12) d¡Ym{ZH$ boIm n[ajH$m§Zr à_m{UV Ho$ë`mZwgma ~w{S>V d g§e{`V H$O©ImË`m§Mr Zmdo ~mH$s dgwbrMm h¸$ A~m{YV R>odyZ {Zb}{IV H$aÊ`mg _mÝ`Vm XoUo.

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14) _m.AÜ`jm§À`m AZwkoZo EoZ doir òUmè`m {df`m§Mm {dMma H$aUo.

{XZm§H$ : 10/06/2019 nwUo

1) JUg§»òA^mdr g^m VhHy$~ Pmë`mg hr g^m Ë`mM {Xder, Ë`mM {R>H$mUr Xþnmar 2.30 dmOVm KoÊ`mV òB©b d Aem VhHy$~ Pmboë`m gôg JUnyVuMm {Z`_ bmJy hmoUma Zmhr.

2) darb dm{f©H$ gd©gmYmaU gôV hmoUmè`m {df`m§g§~§Yr H$mhr gyMZm H$amd`mÀ`m Agë`mg qH$dm àíZ {dMmamd`mMo Agë`mg Ë`m gyMZm qH$dm àíZ ~±Ho$À`m _w»` H$m`m©b`mV {X.02/08/2019 n`ªV ~±Ho$À`m H$m_H$mOmMr doi g§nÊ`mnydu boIr nmRdmdoV.

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_m.g§MmbH$ _§S>imMo Amkodê$Zpñ_Vm Xoenm§S>o

_w»` H$m`©H$mar A{YH$marQ>rn:-

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^{JZr {Zdo{XVm ghH$mar ~±H$ _`m©{XV, nwUo ̀ m ~°§Ho$À`m gd© g^mgX ~§Yy-^{JZtZm {dZ§Vrnyd©H$ H$i{dÊ`mV ̀ oVo H$s, ~±Ho$Mr gËVoMm{igmdr dm{f©H$ gd©gmYmaU g^m ewH«$dma, {X. 09/08/2019 amoOr Xwnmar 2.00 dmOVm, {Q>iH$ ñ_maH$ _§{Xa, {Q>iH$ amoS>, nwUo 411030 òWo Am`mo{OV H$aÊ`mV Ambobr Amho. gôV Imbrb {df`m§Mm {dMma Ho$bm OmB©b. Var gôg AmnU CnpñWV amhmdo, hr {dZ§Vr.

gônwT>rb {df`

46 dm dm{f©H$ Ahdmb2018-2019

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1. To approve and confirm the minutes of Annual General Meeting held on 10th August 2018.

2. To consider and adopt annual report of the Board of Director on working and activities of bank for the financial year 2018-2019 and approve bank's long term perspective plan.

3. To consider and adopt audited Financial Statement of account as off 31st March 2019.

4. To consider and adopt the report of the Statutory Auditors for the financial year 2018-2019 and compliance report of the Statutory Auditors for the financial year 2017-2018.

5. To approve appropriation of Net Profit and to declare dividend for the financial year 2018-2019 as recommended by the Board of Directors.

6. To approve Annual Budget of Income and expenditure for the financial year 2019-2020 and to review performance of the bank for the last 3 years.

7. To take note of the loans sanctioned during the financial year 2018-2019 to Directors of the Bank and their relatives as per Maharashtra State Co-Operative, Act sec. 75(2).

8. To appoint M/s G. D. APTE & Company, Chartered Accountants, as Statutory Auditors for the financial year 2019-2020 and fix their remuneration.

9. To authorize the Board of Directors to appoint Internal Auditors for the financial year 2020-2021 and fix their remuneration.

10. To approve staffing pattern recommended by the Board of Directors.

11. To take note of the efforts made by the bank regarding education and training of its members and the plan for the next year.

12. To approve the write off amount outstanding in bad and doubtful loan accounts as certified by Statutory Auditors keeping the right of recovery intact.

13. To grant leave of absence to the members of the bank who are not present for this Annual General Meeting.

14. To consider any other subject, with the permission of Hon. Chairperson.

Date : 10/06/2019Pune

By order of the Board of DirectorsSmita Deshpande

Chief Executive Officer

1. If the quorum of the meeting is not present at the appointed time, the meeting shall stand adjourned and shall be held at 2.30 pm. on the same day and at the same venue. The adjourned meeting shall not require quorum.

2. Members are requested to send their queries if any, in writing regarding the subjects to be considered at the Annual General Meeting, so as to reach the Head Office on or before close of working hours of the bank02nd August 2019.

3. Members are requested to collect their unclaimed dividend from Head Office, otherwise the amount will be transferred to Reserve Fund after three years.

4. In case shares are held in joint names, only first named share holder will be authorize to attend the meeting in terms of clause no.18 (4) of the byelaws of the bank.

Note :

BHAGINI NIVEDITA SAHAKARI BANK LTD., PUNEA BANK THAT MAKES DREAM WORTHWHILE

''Nivedita Bhavan”, CTS No.34/7,Final Plot No.35/7 B, Prabhat Road, Lane No.8, Erandwana, Pune 411 004.

Notice of Annual General Meeting(For Members Only)

Notice is hereby given that the 47th Annual General Meeting of the members of Bhagini Nivedita Sahakari Bank Ltd., Pune will be held on Friday, 09th August 2019 at 2.00 pm at Tilak Smarak Mandir, Tilak Road, Pune 411030 to transact the following business. Members are requested to attend the meeting.

AGENDA FOR THE MEETING

46 dm dm{f©H$ Ahdmb2018-2019

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"{Zdo{XVm ^dZ", grQ>rEg Z§.34/7, \$m`Zb ßbm°Q> Z§.35/7 ~r, à^mV amoS>, boZ Z§.8, Ea§S>dUm, nwUo 411004020-25447620, 020-25447621 | Email : [email protected]

Website : www.bhagininiveditabank.com

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46 dm dm{f©H$ Ahdmb2018-2019

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dm{f©H$ Üò`YmoaU : Z{OH$À`m H$mimV Unified Payment Interface (UPI) d Internet Banking `m AË`mYw{ZH$ gw{dYm H$m`m©pÝdV H$aÊ`mV òVrb.

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g§MmbH$ _§S>imÀ`m dVrZoO`lr Hw$ê§$XdmS>H$a

AÜ`jm^{JZr {Zdo{XVm ghH$mar ~±H$ _`m©{XV, nwUo

{XZm§H$: 10/06/2019

46 dm dm{f©H$ Ahdmb2018-2019

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BHAGINI NIVEDITA SAHAKARI BANK LTD., PUNEA BANK THAT MAKES DREAM WORTHWHILE

''Nivedita Bhavan”, CTS No.34/7,Final Plot No.35/7 B, Prabhat Road, Lane No.8, Erandwana, Pune 411 004.020-25447620, 020-25447621 | Email : [email protected]


46th Annual Report 2018-2019Respected Members, Ladies and Gentlemen,It gives me great pleasure to present, the 46th Annual Report of the Bank, for the Financial Year 2018-19 before you, on behalf of Board of Directors of the Bank.During the Financial Year 2018-19, the bank has been successful in maintaining its track record of profi tability and displayed an overall development and growth. This year also Bank has been awarded with “Puraskar for maintaining Gross Non Performing Assets below 5%”by Pune Zillha Nagari Sahakari Banks Association. The Bank had impeccable record for maintaining the last 14 years for Gross Non Performing Assets below 5%, currently it is only 1.04%. It is all because of bank’s prudent policies of credit evaluation, effective and continuous monitoring of Advances portfolio and efforts at all level for recovery of loan.Now Bank is focusing on digitalization to offer better services to customers. At the same time bank is taking due precaution for cyber security. As per Reserve Bank of India directives and guidelines Bank has made necessary changes for due diligence of cyber security. Bank has fully implemented the mobile banking facility, as declared in policy last year and has also acquired direct membership for RTGS. Many Customers of the bank are taking benefi t of it.It is my proud privilege to place on record that bank has launched “Utkarsh” loan scheme, Professionals loan scheme, Education loan scheme and loan scheme for Nursing courses with low interest rate. The Bank received overwhelming response for these schemes. Similar loan schemes shall be introduced in the current fi nancial year.Members and Share Capital:- During the fi nancial year 2018-19, new 2379 members were introduced and total number of members increased to 54239 and total share capital amounting to <6.16 Crores. The Bank had declared dividend at the rate of 15% for the consecutive 22nd year.Reserves Fund: -During the year under report, the Reserve Funds increased by <4.56 Crores. The Reserve Fund and other Reserves increased by <16.82 Crores and stood at <182.60 Crores. Total Net worth of the Bank is <193.41 Crores. This shows the sound and robust fi nancial position of the Bank.Deposits: -Deposits stood at < 858.95 Crores as on 31st March 2019. Loans & Advances: - Loans and Advances were amounting to < 471.93 Crores as on 31st March 2019.Non Performing Asset :- During the fi nancial year 2018-19 the required provision for Non-Performing Asset was to the tune of <4.04 Crores. The gross NPA vis-a-vis aggregate Loans and Advances were merely 1.04% and total outstanding balance of the said account was <4.90 Crores only. Bank had accumulated NPA provision of <24.85 Crores, which is far excess than the gross NPA. Therefore, the Net NPA continues to be 0% for this year also.Statutory Audit: – Statutory Audit for F. Y. 2018-19 was completed by Statutory Auditors M/s S. D. Medadkar and Company Chartered Accountants, Pune. Our Bank has been awarded “A” audit classifi cation.

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Concurrent Audit: -During the Financial year 2018-19, Concurrent Audit assignment of all the Branches was allotted to 12 Chartered Accountant fi rms.Deposit Insurance:- Bank has paid full premium to Deposit Insurance and Credit Guarantee Corporation (DICGC) for the current year.Training and Awareness of Members: -1. The bank has celebrated “Financial Literacy week” in the month of June, 2018. During this period

different educational and training programmes were arranged for Members and Account Holders, other general public regarding KYC updation, awareness about loans, repayment of loan and inculcating the good and safe banking habits.

2. Bank organised training programme on the very crucial topics like “Cyber Security Education and Awareness“ regarding digital payment. During this workshop Cyber Experts shared their views and advised how precautions should be taken for or awareness while using digital technology to prevent cyber crimes. The feedback from the members and participants was positive and encouraging.

Social Responsibility:-Social Responsibility and Inclusive Growth have always been the cherished objectives of the Bank. Your Bank had contributed in various social and charitable activities through NGO’s for the under privileged class of the Society. It has been our continuous endeavour to encourage women entrepreneurs and professionals. This year also we have felicitated women entrepreneurs for their contribution in their respective fi eld. The bank has extended helping hand towards Kerala tragedy, a sum of Rs. 5 Lakh was donated to the Chief Minister’s Relief Fund. We have implemented schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana for the benefi t of the society. Bank’s Long Term Perspective :- We are confi dent that the Bank will scale the heights of excellence by the year of its Golden Jubilee in the year 2024. Bank will focus on business growth through innovative loans schemes, effi cient and best customer services by optimum utilisation of digitalization and latest technologies in its operations. The Board Of Directors have already fi nalised the road map for the targets to be achieved.Annual Plans:- In this Financial Year 2019-20 Unifi ed Payment Interface (UPI), Internet Banking facility will be implemented shortly for the customers. It is endeavour of the Bank to provide high quality and latest technology based facilities continuously and consistently to our valued customers.I, on behalf of the Board, express my sincere gratitude to our shareholders, depositors, borrowers, others constituents, well-wishers and staff at all levels. I acknowledge that it is only with the support, trust and confi dence of all of you, the Bank is marching on the path of progress.

Date : 10/06/2019For and on Behalf of the Board of Directors,

Mrs. Jayashree KurundwadkarChairperson

Bhagini Nivedita Sahakari Bank Ltd.,Pune

46 dm dm{f©H$ Ahdmb2018-2019

8

ANNEXURE AName of the Bank Bhagini Nivedita Co-op. Bank Ltd.,PuneHead Office Address 'Nivedita Bhavan', CTS.No.34/7, Final Plot No.35/7B, Prabhat

Road, Lane No.8, Erandwana, Pune 411 004Date of Registration 19th February 1974 (PNA/BNK/34)Date & No. of RBI Licence 26th March 1974 (ACD MH 36P)Jurisdiction Maharashtra State Items As on 31st March 2019No.of Branches including H. O. 19

( < in lakhs)g^mgXËd Membership{Z`_rV g^mgX Regular Member 54239Zm__mÌ g^mgX Nominal Member 3379dgyb ^mJ^m§S>db Paid up Share Capital 616.29EHy$U {ZYr Total Reserve and Funds 18260.11R>odr Depositsgo{ìh§½O Savings 23782.44Mmby Current 2011.58_wXV R>odr Fixed Deposits 60100.71H$O} AdvancesVmaUr Secured 45087.56{dZmVmaUr Unsecured 2105.14AJ«H«$_ joÌ Q>¸o$dmar Total % of Priority Sector 35.90Xþ~©b KQ>H$ Q>¸o$dmar Total % of Weaker Section 7.29XoUr Borrowings {Oëhm _Ü`dVu gh.~±H$ D.C.C Bank -amÁ` ghH$mar ~°§H$ M.S.C Bank -Jw§VdUyH$ Investments 40175.93WH$~mH$s Q>¸o$dmar Overdues % 0.62boImn[ajU dJ© Audit Classification ‘A’{Zìdi Z\$m Profit for the year(Net Profit) 1596.44godH$ g§»`m Total StaffA{YH$mar Other than Sub staff 241BVa Sub staff 49IoiVo ^m§Sdb Working Capital 107157.34

46 dm dm{f©H$ Ahdmb2018-2019

9

{df` H«$.5 Mm Vnerb : Zâ`mMr dmQ>Ur :gZ 2018-2019 `m dfm©V ê$. 24,88,32,486.56 BVH$m CÎm_ T>mo~i Z\$m ~±Ho$Zo {_idbm AgyZ Am`H$a d {ZYr VaVyX dOm OmVm Z\$m dmQ>Urg é.15,96,44,296.13 a¸$_ CnbãY Amho. _m.g§MmbH$ _§S>imZo {e\$mag Ho$bobr Zâ`mMr dmQ>Ur nwT>rbà_mUoo. Details of Topic no.5 : Profit Appropriation :Bank has earned Gross Profit of <24,88,32,486.56 after provision and tax, distributable profit is <15,96,44,296.13. The following appropriations are recommended by the Board of Directors for the financial year 2018-2019 for approval.

1 amIrd {ZYr Reserve Fund 4,25,00,000.00

2 gd© gmYmaU {ZYr General Reserve Fund 50,00,000.00

3 {dH$mg {ZYr Development Fund 53,98,671.13

4 V§ÌkmZ {dH$mg {ZYr Technology Development Fund 65,00,000.00

5 AmH$pñ_H$ {ZYr Emergency Fund 1,00,00,000.00

6 Jw§VdUyH$ MT>CVma {ZYr Investment Fluctuation Reserve 5,50,00,000.00

7 e¡j{UH$ {ZYr Education Fund 10,00,000.00

8 {ZdS>UyH$ {ZYr Election Fund 1,00,000.00

9 V§ÌkmZ OmoIr_ g§ajU {ZYr Technology Risk Protection Fund 2,50,00,000.00

10 bm^m§e 15% à_mUo Dividend 15 % 91,45,625.00

EHy$U Z\$m 2018-2019 Total Profit 2018-2019 15,96,44,296.13

{df` H«$.6 Mm Vnerb : àJVrMm V³Vm :Details of Topic no.6 : Performance Report : (én¶o bmImV) (< in Lakhs)

Vnerb Particulars 31/03/2017 31/03/2018 31/03/2019

^mJ ^m§S>db Share Capital 619.22 617.72 616.29

R>odr Deposits 83,217.21 84,194.41 85,894.74

H$O©o Loan & Advances 44,555.94 46,250.56 47,192.69

Jw§VdUyH$ (‘wXV R>odrgh) Investments (with fixed Deposits) 48,125.70 48,677.60 50,938.21

EHy$U ì`dgm` Total Business 1,27,773.15 1,30,444.97 1,33,087.43

Z³V _yë` Net Worth 16,495.38 17,616.72 19,341.41

IoiVo ^m§S>db Working Capital 1,00,878.02 1,03,631.74 1,07,157.34

{Zìdi Z\$m Net Profit 1,538.27 1,740.78 1,596.44

T>mo~i AZwËnm{XV H$O© Gross NPA 441.43 580.37 489.63

T>mo~i AZwËnm{XV H$O© à_mU Gross NPA % 0.99% 1.25% 1.04%

{Zìdi AZwËnm{XV H$O© à_mU Net NPA % 0.00% 0.00% 0.00%

gr.S>r.aoemo C.D.Ratio % 53.54% 54.93% 54.94%

^m§S>db n`m©áVm à_mU CRAR % 21.09% 22.93% 24.37%

emIm (_w»`H$Moargh) Branches (Including HO) 19 19 19

46 dm dm{f©H$ Ahdmb2018-2019

10

{df` H«$. 6 Mm Vnerb : 2019 - 2020 Mo CËnÞmMo A§XmOnÌH$ :Details of Topic No.6 : Annual Budget for 2019-2020 Income : (én¶o bmImV)(< in Lakhs)

A.H«$ Vnerb ParticularsBudget for31 March 2019 (<)

Actual Income (<)

Budget for31 March 2020

(<)

1 ì`mO H$Om©darb Interest on loan 5,760.00 5,266.38 5,465.00

2 ì`mO Jw§VdUwH$sdarb Interest on Investment 3,200.00 3,331.46 3,440.00

3 H${_eZ d hþ§S>Umdi Commission & brokerage 50.00 49.98 50.00

4 BVa CËnÞ Miscellaneous Income 1,000.00 814.77 1,000.00

EHy$U CËnÞ Total Income 10,010.00 9,462.59 9,955.00

{df` H«$. 6 Mm Vnerb : 2019 - 2020 Mo IMm©Mo A§XmOnÌH$ :Details of Topic No.6 : Annual Budget for 2019-2020 Expenses : (én¶o bmImV) (< in Lakhs)

A.H«$ Vnerb ParticularsBudget for 31 March 2019 (<)

Actual Expenses (<)

Budget for31 March 2020

(<)

1 R>odr d H$Om©darb ì`mO Int. On Deposit and Borrowings 5,475.00 4,814.86 5,280.00

2 nJma, àm°.\§$S>, ~moZg Salary, Provident Fund, Bonus 1,400.00 1,304.96 1,625.00

3 g§MmbH$ \$s, àdmg ^Îmm Director fees and Allowances 25.00 15.25 25.00

4 ^mS>o, H$a, drO, {d_m> Rent, Taxes, Electricity, Insurance 250.00 213.69 250.00

5 H$m`Xo g„m \$s, H$moQ>© IM© Legal Charges 10.00 7.25 10.00

6 nmoñQ>oO d Q>o{b\$moZ Postage and Telephone 85.00 51.74 85.00

7 Am°{S>Q> \$s Audit Fees 40.00 35.45 40.00

8 Kgmam, XwéñVr Depreciation, Repairs 240.00 159.31 220.00

9 ñQ>oeZar, N>nmB©, Om{hamV Stationary, Printing, Advertisement 100.00 49.05 100.00

10 BVa IM© Miscellaneous Expenses 400.00 304.41 370.00

11 ~w{S>V d g§e{¶V {ZañV Bad & Doubtful Write Off 0.00 18.30 0.00

EHy$U IM© Total Expenses 8,025.00 6,974.27 8,005.00

12 Z\$m ({ZYr VaVyX d H$a nyd©) Profit Before (Provision & Taxes) 1,985.00 2,488.32 1,950.00

13 {ZYr VaVyX d Am`H$a a¸$_ Provision & Tax amount 810.00 891.88 800.00

14 {Zìdi Z\$m Net Profit 1,175.00 1,596.44 1,150.00

EHy$U Total 10,010.00 9,462.59 9,955.00

46 dm dm{f©H$ Ahdmb2018-2019

11

CERTIFICATE1. We have completed the statutory audit of accounts of Bhagini Nivedita Sahakari Bank Ltd.,

Pune, Nivedita Bhavan, Pune 411004 for the year ended 31/03/2018 and submitted our report on 31/05/2018.

2. As required U/s. 82 of the Maharashtra State Co-operative Societies Act. 1960, the Bank has complied with the remarks / points raised in our above refered report and submitted the Rectifi cation Report in prescribed form 'O' to the offi ce of District Deputy Registrar (CS) and District Special Auditor (CS) Pune on 28/08/2018.

3. We confi rm that the explanations / justifi cation submitted by the Bank are satisfactory and in order.

4. This certifi cate is issued on the specifi c request of the Bank to place before the Annual General Meeting (AGM) for information of members.

Place : Pune For S. D. MEDADKAR & CO.Date : 01.09.2018. Chartered Accountants FRN NO. :106128W

(GIRISH GOKHALE) Partner M.No. : 033963

46 dm dm{f©H$ Ahdmb2018-2019

12

INDEPENDENT AUDITOR’S REPORTFOR THE YEAR ENDED 31ST MARCH 2019

To

The Members of Bhagini Nivedita Sahakari Bank Ltd.

Report On The Financial Statements

We have audited the accompanying financial statements of Bhagini Nivedita Sahakari Bank Ltd. (the Bank), which comprise the Balance Sheet as at March 31, 2019, the Profit and Loss Account and the Cash Flow Statement for the year then ended and a summary of significant accounting policies and other explanatory information incorporated in the financial statement of the Bank along with its branches audited by us for the period from April 1, 2018 to March 31. 2019.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Bank in accordance with the Accounting Standards issued by the Institute of Chartered Accountants of India, The Maharashtra Co-operative Societies Act, 1960, provisions of Banking Regulation Act, 1949 (AACS) and RBI guidelines. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risk of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal controls relevant to the Bank’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

46 dm dm{f©H$ Ahdmb2018-2019

13

Opinion

In our opinion and to the best of our information and according to the explanation given to us , the financial statement give the information required by the Maharashtra Co-Operative Societies Act, 1960 and rules made there under in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

a. In the case of the Balance Sheet, of the state of affairs of the bank as at march 31, 2019;

b. in the case of the Profit & Loss Account, of the profit for the year ended on that date; and

c. In the case of The Cash Flow Statement, of the cash flows for the year ended on that date

Report On Other Legal And Regulatory Requirements

As Required by rule 69 of the Maharashtra co- operative societies rules,1961, we report that:

a. The Balance Sheet And Profit And Loss Account have been drawn up in accordance with the provisions of section 29 of the banking regulation Act, 1949 read with provisions of the Maharashtra Co- Operative societies Act 1960 and rules made there under.

b. We obtained all the information and explanation which to the best of our knowledge and belief were necessary for the purpose of our audit;

c. In our opinion, proper books of account as required by law have been kept by the bank so far as appears from our examination of those books and proper returns adequate for the purpose of our audit have been received from the branches

d. The Balance Sheet, Profit And Loss Account And Cash Flow Statement dealt with by this report are in agreement with the books of account and returns;

e. In our opinion and according to information given to us, the transaction of the bank ,which have come to our notice, have been within the powers of the bank;

f. In our opinion, The Balance Sheet And Profit And Loss Account comply with applicable accounting standard.

g. On the basis of audit procedures carried out by us and according to the information and explanations given to us by the bank, there are no matters to be reported under rules 69(6) of the Maharashtra Co-Operative Rules, 1961, except doubtful advances of Rs. 353.99 Lacs (fully provided for as at march 31, 2019) out of which Rs.26.28 Lacs appear to be bad debts.

h. For the year under the audit, the bank has been awarded ‘A’ classification.

Place : PuneDate: 29.05.2019.

For S D Medadkar & Co, (106128W)Chartered Accountants.

Girish GokhalePartner(M NO 033963)

46 dm dm{f©H$ Ahdmb2018-2019

46 dm dm{f©H$ Ahdmb2018-2019

1514

31/03/2018_mb_Îmm d `oUr ASSETS

31/03/2019Rs. Ps. Rs. Ps. Rs. Ps.

17,67,49,806.0037,56,24,269.8499,97,48,701.00

(34,20,55,000.00)

352,29,30,250.00(358,00,00,000.00)(345,12,08,000.00)(12,15,59,000.00)

0.000.000.000.000.00

81,500.00

34,50,00,000.00(12,02,17,543.80)(34,59,37,224.80)

0.00

82,847.0023,52,42,579.98

28,48,403.11(2,44,68,697.42)

(1,17,003.47)(50,36,549.52)

18,26,344.00257,13,65,200.5413,89,32,859.76

(239,25,16,942.05)(3,04,41,281.51)(3,64,79,238.91)

19,57,685.00166,27,15,686.17

1,00,84,482.29(143,75,65,113.96)

(1,07,91,964.42)(1,65,21,073.59)

1. amoI {e„H$ d ~±Ho Vrb {e„H$ amoI {e„H$ Mmby ImVo _wXVR>od ImVo n¡H$s amIrd {ZYr Jw§VdUyH$2. Jw§VdUyH$ A) H|$Ð d amÁ` emgZmMo H$O© amoIo 1) gaH$mar H$O© amoIo Xe©Zr _yë` ~mOma^md _yë` n¡H$s amIrd {ZYr Jw§VdUyH$ 2)${dídñV H$O©amo»`mVrb Jw§VdUyH$ Xe©Zr _yë` ~mOma^md _yë` 3) A°_m°Q>m©BÁS> {à{_`_ AH$mD§$Q>> ~) BVa _mÝ`Vmàmá Jw§VdUyH$ H$) ghH$mar g§ñWm§Mo ^mJ S>) gmd©O{ZH$ joÌmVrb H$O©amoIo d BVa. 1>) å`wÀ`wAb \§$S> Xe©Zr _yë` ~mOma^md _yë`3. emgZmÀ`m à_wI AWdm ghmæ`H$mar {ZYrVyZ Jw§VdUyH$4. H$O} A) Aën_wXV gaH$mar VmaU AÝ` VmaU {dZmVmaU n¡H$s ì`{º$e: n¡H$s WH$~mH$s n¡H$s AZwwËnm{XV H$O© ~) _Ü`__wXV gaH$mar VmaU AÝ` VmaU {dZmVmaU n¡H$s ì`{º$e: n¡H$s WH$~mH$s n¡H$s AZwËnm{XV H$O© H$) XrK© _wXV gaH$mar VmaU AÝ` VmaU {dZmVmaU n¡H$s ì`p³Ve: n¡H$s WH$~mH$s n¡H$s AZwËnm{XV H$O©

1. Cash and Bank balance Cash in Hand Current Accounts with Bank Fixed Deposits with Bank OF Which Reserve Fund Investment2. Investments A) Central & State Govt. Securities 1) Govt. Securities Face Value Market Value OF Which Reserve Fund Investment 2)Treasury Bills Face Value Market Value 3) Ammortised Premium A/c B) Other Approved Securities C) Shares of Co-op. Institution D) PSU Bonds and Others 1. Mutual Fund Face Value Market Value3. Investment Out of the Principal Subsidiary State Partnership 4. Loans A) Short Term Loans Govt. Securities Other Securities Unsecured Of which Individuals Of which Overdues Of which NPA B) Medium Term Loans Govt. Securities Other Securities Unsecured Of which Individuals Of which Overdues Of which NPA C) Long Term Loans Govt. Securities Other Securities Unsecured Of which Individuals Of which Overdues Of which NPA

14,43,50,895.5044,48,79,348.46

107,62,27,542.00 (33,75,55,000.00)

367,10,21,250.00(373,00,00,000.00)(362,73,92,000.00)(17,08,95,000.00)

4,64,77,800.00(5,00,00,000.00)(4,64,77,800.00)

12,444.000.00

81,500.00

30,00,00,000.00(10,37,25,607.40)(30,03,39,192.46)

0.0016,95,66,491.67

40,02,653.73(308,12,164.06)(48,23,487.98)(48,23,305.52)

35,28,336.90252,04,20,032.7118,88,32,628.68

(248,56,51,504.50)(2,85,26,965.94)(2,87,88,141.72)

1,40,432.00181,51,00,301.54

1,76,78,609.80(160,73,00,814.05)

(1,11,74,670.39)(1,53,51,164.02)

166,54,57,785.96

401,75,92,994.00

0.00

471,92,69,487.03

1004,51,90,614.69 nwT>rb nmZmda C/f 1040,23,20,266.99

SAHAKARI BANK LTD.,PUNEON 31/03/2019

31/03/2018^mJ ^m§S>db d XoUr LIABILITIES

31/03/2019Rs. Ps. Rs. Ps. Rs. Ps.

10,00,00,000.00

6,17,72,425.00

46,27,74,465.3422,53,76,102.273,50,00,000.00

30,88,20,230.684,00,00,000.001,15,00,000.00

75,00,000.005,01,96,452.005,28,28,647.001,97,04,917.006,98,71,250.005,30,00,000.00

22,39,703.8420,20,29,667.003,65,00,000.00

5,00,000.008,00,00,000.00

0.000.00

0.00

578,37,25,509.54(575,17,86,821.54)

(3,19,38,688.00)(2,80,51,267.25)242,49,15,400.62

(241,81,70,785.21)(67,44,615.41)

21,07,99,969.55(21,00,45,755.95)

(7,54,213.60)0.00

4,000.00

1,63,98,124.675,65,417.00

14,20,997.005,97,427.00

1. ^mJ^m§S>db A{YH¥$V ^mJ^m§S>db (40,00,000 ^mJ é. 25/- à_mUo) dgwb ^mJ^m§S>db ì`{º$e: 24,65,156 ^mJ (24,70,897 _mJrb dfm©Mo) ^mJ é. 25/- à_mUo2. {dYr{dhrV amIrd {ZYr d BVa {ZYr {dYr{d{hV amIrd {ZYr ~w{S>V d g§e{`V H$O© {ZYr {Z`{_V H$O© {ZYr B_maV {ZYr {dH$mg {ZYr Y_©Xm` {ZYr bm^m§e g§VwbZ {ZYr AmH$pñ_H$ {ZYr g^mgX H$ë`mU {ZYr godH$ H$ë`mU {ZYr amoIo Kgmam {ZYr V§ÌkmZ {dH$mg {ZYr e¡j{UH$ {ZYr Jwþ§VdUyH$ MT>-CVma {ZYr {deof {ZYr {ZdS>UyH$ {ZYr gd©gmYmaU {ZYr V§ÌkmZ OmoIr_ g§ajU {ZYr 3. ^mJ^m§S>dbmMr emgZmMr à_wI AWdm ghmæ`H$mar ^mJrXmar 4. ~mhoarb H$O©5. R>odr _wXV R>odr n¡H$s ì`p³Ve: n¡H$s BVa ghH$mar g§ñWm n¡H$s _wXV g§nbobr gopìh¨½O n¡H$s ì`{º$e: n¡H$s BVa ghH$mar g§ñWm Àmmby n¡H$s ì`{º$e: n¡H$s BVa ghH$mar g§ñWm6. dgwbrg ñdrH$mabobr {~bo (Xþ~oaOr Zm|XrZwgma)7. emIm§VJ©V ImVo OwidUr8. WH$~mH$s ì`mO {ZYr AZwËnm{XV H$Om©darb ì`mO AZwËnm{XV H$Om©darb dgyb Z Pmbobo ì`mO9. R>odrdarb ì`mO XoUo _wXV R>odrdarb ì`mO XoUo [aH$[a¨Jdarb ì`mO XoUo

1. Capital Authorised Capital (40,00,000 Equity Shares of Rs. 25/- each) Paid up Capital 24,65,156 ( March 31, 2018 : 24,70,897) Equity Shares of Rs. 25/- each2. Reserve Fund & Other Reserves Reserve Fund Bad & Doubtful Debts Reserve Standard Asset Reserve Building Fund Development Fund Charity Fund Dividend Equalisation Fund Emergency Fund Members Welfare Fund Staff Welfare Fund Investment Depreciation Reserve Technology Development Fund Education Fund Investment Fluctuation Reserve Special Reserve Election Fund General Reserve Technology Risk Protection Fund3. Principal/Subsidiary State Partnership fund A/c4. Borrowings/Overdrafts 5. Deposits Fixed Deposits Of which Individuals Of which other co op Society Of which matured deposits Savings Of which Individuals Of which other co op Society Current Of which Individuals Of which other co op Society 6. Bills for Collection ( As per contra)7. Branch Adjustment 8. Overdue Interest Reserve N.P.A. (Interest on N.P.A A/c) N.P.A. (Applied but Not recovered) 9. Interest Payable On Deposits Interest Payable on Fixed Deposits Interest Payable on Recurring

50,83,50,114.3424,85,45,988.703,50,00,000.00

31,08,32,165.484,00,00,000.001,10,00,000.00

75,00,000.006,01,96,452.005,47,07,301.002,02,83,306.004,44,47,750.006,00,00,000.00

25,18,520.7028,20,29,667.004,00,00,000.00

6,00,000.009,00,00,000.001,00,00,000.00

601,00,71,273.19(592,47,55,753.19)

(8,53,15,520.00)(2,00,43,497.50)237,82,43,876.22

(235,63,03,869.54)(2,19,40,006.68)20,11,58,382.45

(20,04,56,144.15)(7,02,238.30)

1,55,33,635.674,68,616.80

10,57,571.005,81,304.00

10,00,00,000.00

6,16,28,900.00

182,60,11,265.22

0.00

0.00858,94,73,531.86

0.000.00

1,60,02,252.47

16,38,875.00

1015,80,40,705.51 nwT>rb nmZmda C/f 1049,47,54,824.55

BHAGINI NIVEDITA BALANCE SHEET AS

46 dm dm{f©H$ Ahdmb2018-2019

46 dm dm{f©H$ Ahdmb2018-2019

1716

31/03/2018_mb_Îmm d òUr ASSETS

31/03/2019Rs. Ps. Rs. Ps. Rs. Ps.

1004,51,90,614.69

7,81,71,386.8813,815.00

1,63,98,124.67

0.00

0.00

9,94,02,694.00

6,20,94,917.00

1,78,54,010.002,57,34,615.00

6,98,086.742,56,96,096.00

2,21,767.004,10,000.00

27,22,980.0075,944.00

10,00,000.001,11,959.75

37,57,536.182,273.00

15,391.91

_mJrb nmZmdê$Z

5. ì`mO òUo Jw§VdUwH$sdarb WH$~mH$sdarb (nr.E.) WH$~mH$sdarb (EZ.nr.E.)

6. dgwbrg ñdrH$mabobr {~bo (Xþ~oaOr Zm|XrZwgma)

7. emIm§VJ©V ImVo OwidUr

8. B_maV

9. OmJm

10.S>oS>ñQ>°mH$, \${Z©Ma, {\$ŠMg© S>oS>ñQ>°mH$ \${Z©Ma, {\$ŠMg©

11. BVa òUr {àqQ>J ñQ>°mH$ Am`H$a {ddmXmMr a¸$_ ñQ>°ån A°ÝS> aoìhoÝ`y ñQ>°ån nJma CMb {H$aH$moi òUr E_.Eg.B©.~r.{S>nm°{PQ>> OmJm ^mS>o A°S>ìhmÝg/{S>n°m{PQ> nrE_gr {S>nm°{PQ> d BVa AmJmD$ IM© S>r.B©.E.E\$ òUo Or.Eg.Q>r. òUo

B/f

5. Interest Receivable On Investment On Overdue A/c (P.A.) On Overdue Loan A/c (N.P.A.)

6. Bills for Collection (As per contra)

7. Branch Adjustment

8. Building

9. Land

10. Dead Stock, Furniture,Fixture Dead Stock Furniture & Fixture

11. Other Assets Printing Stock Income Tax Paid under protest Stamps & Revenue Stamp Salary Advances Misc. Receivable M.S.E.B. Deposit Rent Advance / Deposit Deposit with PMC & Others Prepaid Expenses DEAF Receivable GST Receivable

8,30,84,257.8323,682.00

1,55,33,635.67

1,96,92,653.002,17,67,953.00

6,13,483.412,56,96,096.00

2,30,648.004,57,500.00

94,201.0075,944.00

10,00,000.001,08,770.75

11,25,740.7243,150.93

6,20,440.89

1040,23,20,266.99

9,86,41,575.50

0.00

0.00

9,66,83,866.00

6,20,94,917.00

4,14,60,606.00

3,00,65,975.70

1037,95,72,211.82 EHy$U Total 1073,12,67,207.19

(As per our Report of even date)

For Khare Deshmukh & Co.Chartered Accountants

Firm Registration No. 116141W

(Vivek Deshmukh)Partner

Membership No.:118296Internal Auditor

For S.D.Medadkar & Co.Chartered Accountants


(Girish Gokhale)Partner

Membership No.: 033963Statutory Auditor

SAHAKARI BANK LTD.,PUNEON 31/03/2019

31/03/2018^mJ ^m§S>db d XoUr LIABILITIES

31/03/2019Rs. Ps. Rs. Ps. Rs. Ps.

1015,80,40,705.51

13,83,150.0078,01,084.003,82,776.00

14,29,374.2094,59,618.3296,98,283.006,09,672.008,28,440.00

38,079.001,41,72,237.88

16,50,368.11

17,40,78,423.80

_mJrb nmZmdê$Z

10. BVa XoUr d VaVyXr A°m{S>Q> \$s XoUo godH$m§Zm Úmd`mMr a¸$_ bm^m§e XoUo AZm_V S>r.S>r. noAo~b AÝ` XoUr Q>r.S>r.Eg.XoUoo àm°pìhS>§S> \§$S> XoUo Am`H$a VaVyX àb§{~V H$a VaVyX Or Eg Q>r XoUo

11. Z\$m VmoQ>m ImVo

B/f

10. Other Liabilities and Provisions Audit Fee Payable Payable to Employees Dividend Payable Suspense Demand Drafts Payable Other Payable T.D.S. Payable Provident Fund Payable Income Tax Provision (Net Of Advance Tax) Deferred Tax Provision GST Payable

11. Profit and Loss A\c

15,73,150.0078,86,761.004,15,982.00

25,00,698.703,28,64,715.88

80,50,969.002,81,249.008,29,272.00

49,87,616.001,44,72,237.88

30,05,435.05

1049,47,54,824.55

7,68,68,086.51

15,96,44,296.13

1037,95,72,211.82 EHy$U Total 1073,12,67,207.19

50,000.00

2,01,25,280.78

12. g§^mì` XoUr ~±H$ J°a§Q>r XoUo S>r.B©.E.E\$ _mJUr Z Ho$boë`m R>odr

12. Contingent Liabilities Bank Guarantee Payable DEAF Unclaimed Deposit

75,000.002,27,97,685.98

2,28,72,685.98

(On behalf of Board of Directors)

Place PuneDate 29/04/2019

(Varsha Budhkar) General Manager

BHAGINI NIVEDITA BALANCE SHEET AS

(Jayashree Chitre) General Manager

(Smita Deshpande)Chief Executive Officer

(Sheela Kale)Director

(Rewati Paithankar)Vice-Chairperson

(Jayashree Kurundwadkar) Chairperson

46 dm dm{f©H$ Ahdmb2018-2019

46 dm dm{f©H$ Ahdmb2018-2019

1918

31/03/2018CËnÞmMm Vnerb INCOME

31/03/2019Rs. Ps. Rs. Ps. Rs. Ps.

54,95,93,360.3731,41,12,296.34

8,050.0048,27,880.47

96,662.321,11,33,615.59

32,58,732.561,95,74,952.541,14,61,250.00

58,666.0629,51,133.24

3,49,14,090.771,16,433.00

95,21,07,123.26

24,62,25,640.06

0.009,34,581.00

6,98,70,250.00

1. ì`mO H$Om©darb Jw§VdUwH$sdarb2. bm^m§e3. H${_eZ d hþ§S>Umdi4. BVa CËnÞ {H$aH$moi O_m ~±H$ MmO}g b°mH$a ^mS>o gpìh©g MmO}g gaH$mar amoIo IaoXr / {dH«$s Z\$m

_mb_Îmm {dH«$s Z\$m A°Šdm`aa MmO}g å`wÀ`wAb \§$S> darb Z\$m ~w{S>V d g§e{`V H$O© {ZañV a¸$_oVrb dgwb a¸$_

EHy$U

5.H$a d VaVyXrnyduMm T>mo~i Z\$m

6. VaVyX naV amoIo Kgmam {ZYr ~w{S>V d g§e{`V H$O© {ZYr Jwþ§VdUyH$ MT>-CVma {ZYr

1. Interest On Loans On Investments2. Dividend 3. Commission & Brokerage 4. Other Income Miscellaneous Bank Charges Locker Rent Service Charges Profit On Sale/Purchase of Govt. Securities Profit on Sale of Asset Acquirer Charges Profit on Mutual Fund Recovery in written off loans account

Total

5. Operating Profit before provisions and Contingencies b/f 6. Provision Written Back Investment Depreciation Reserve Bad & Doubtful Reserve Investment Fluctuation Reserve

52,66,37,546.7133,31,46,716.27

68,731.8286,81,264.5139,62,621.44

1,88,00,624.0019,85,000.00

86,516.5259,39,380.13

4,18,95,977.7956,636.00

2,54,23,500.0018,30,113.57

0.00

85,97,84,262.98

100.0049,97,820.37

8,14,76,752.21

94,62,58,935.56

24,88,32,486.56

2,72,53,613.57

126,91,37,594.32 EHy$U Total 122,23,45,035.69

SAHAKARI BANK LTD.,PUNETHE YEAR ENDED 31/03/2019

(As per our Report of even date)









31/03/2018IMm©Mm Vnerb EXPENDITURE

31/03/2019Rs. Ps. Rs. Ps. Rs. Ps.

49,30,48,835.0013,02,29,606.72

13,96,999.02

1,17,12,523.7293,91,676.003,78,221.00

56,13,869.8733,41,208.00

1,71,17,711.1344,38,316.14

79,60,401.3458,28,652.8210,17,276.341,94,400.001,05,967.484,83,434.683,24,106.00

51,09,990.246,23,911.00

66,29,795.700.00

9,34,581.0024,62,25,640.06

95,21,07,123.26

1,40,00,000.0025,00,000.00

6,98,70,250.00

5,68,02,792.00 (220,994.74)

17,40,78,423.80

1. R>odr d H$Om©darb ì`mO2 .nJma, à°mpìhS>§Q> \§$S> dJ©Ur d ^Îmo3. g§MmbH$ _§S>i ^Îmm d àdmg ^Îmm4. ^mS>o, H$a, drO, {d_m B. ^mS>o, H$a, drO, {d_m {S>n°m{PQ> BÝewaÝg {à{_`_5 .H$m`Xo g„m ewëH$ d H$moQ>© IM©6. Q>nmb d XÿaÜdZr7. {heo~ VnmgUr ewëH$8. Kgmam d XwéñVr9. ñQ>oeZar, N>nmB©, Om{hamV10. BVa IM© A°m{\$g IM© dmhZ IM©, àdmg IM© {H$aH$moi IM© àmo\o$eZb \$s ~±H$ H${_eZ OZab _rqQ>J IM© dJ©Ur d XoUJr {gŠ`w[aQ>r IM© g„mJma \$s Bí`wAa MmO}g11.A°_m°Q>m©`PoeZ BZ BÝìhoñQ>_|Q>12. ~w{S>V d g§e{`V H$O© {ZañV a¸$_13. H$a d VaVyXr nyduMm T>mo~i Z\$m

EHy$U

14. {ZYr VaVyX ~w{S>V d g§e{`V H$O© {ZYr {deof {ZYr 15. amoIo Kgmam {ZYr 16. Am`H$a d Am`H$a VaVyX Mmby dfm©Vrb Am`H$a àb§{~V H$a VaVyX17. {Zìdi Z\$m H$a níMmV

1. Interest On Deposits and Borrowings2. Salary, Provident Fund and Allowances3. Directors Fees and Allowances4. Rent, Taxes, Electricity, Insurance etc. Rent, Taxes, Electricity, Insurance Deposit Insurance Premium 5. Legal Charges 6. Postage and Telephone 7. Audit Fee 8. Depreciation and Repairs 9. Stationery, Printing and Advertisement10. Other Expenses Office Expenses Conveyance Miscellaneous Expenses Professional Fees Bank Commission General Meeting Expenses Subscription & Donation Security Expenses Consulting Charges Issuer Charges 11.Ammortisation In Investment12. Bad debts written off 13. Operating Profit before provisions and Contingencies c/f

Total

14. Provisions and Reserves Bad & Doubtful Reserve Special Reserve 15. Investment Depreciation Reserve16. Provision for Income Tax Current Year Income Tax Deferred Tax Provision 17. Net Profit After Tax

1,20,99,957.7692,69,408.00

86,98,510.4760,76,373.697,90,643.35

98,100.0094,868.67

4,92,264.763,24,855.00

50,35,625.876,31,341.00

81,95,728.19

2,50,00,000.0035,00,000.00

8,76,41,804.003,00,000.00

48,14,85,694.7513,04,96,174.00

15,24,830.002,13,69,365.76

7,24,577.5051,73,765.7835,45,293.92

1,59,31,390.6349,05,376.09

3,04,38,311.00

1,556.0018,30,113.57

24,88,32,486.56

94,62,58,935.56

2,85,00,000.00

0.00

8,79,41,804.00

15,96,44,296.13

126,91,37,594.32 EHy$U Total 122,23,45,035.69

BHAGINI NIVEDITA PROFIT & LOSS ACCOUNT FOR

(On behalf of Board of Directors)

Place PuneDate 29/04/2019





(Rewati Paithankar)Vice-Chairperson


46 dm dm{f©H$ Ahdmb2018-2019

20










(Rewati Paithankar) Vice-Chairperson


Sr. No. Particulars March 31, 2019 March 31, 2018A) 1. Cash Inflow / (Outflow) from Operating Activities

Interest, Commission and Exchange etc. 9,431.62 9,626.48Interest Payments (4,818.65) (4,930.14)Payment to Employees and others (1,950.77) (1,966.43)Payment towards Direct Taxes (826.92) (610.16)Payment towards Donations (3.25) (3.24)2. Operating Profit before changes in Operating Assets 1,832.02 2,116.51(Increase)/Decrease in Operating AssetsFunds advanced to Customers (960.44) (1,703.97)Purchase of Investments (2,260.60) (551.91)Other Assets 20.09 (18.46)Subtotal (3,200.95) (2,274.34)3. Increase/(Decrease) in Operating LiabilitiesDeposits from Customers and other Liabilities 1,939.19 966.82Net Cash From Operating Activities(1+2+3) 570.26 808.99

B) Cash Inflow / (Outflow) from Investing ActivitiesPurchase of Fixed Assets (Net) (110.85) (48.07)Profit on sale of Asset 0.86 0.59Net Cash from Investing Activities (109.98) (47.48)

C) Cash Inflow / (Outflow) from Financing ActivitiesIssue of Shares (1.44) (1.49)Payment of Dividend (90.29) (90.66)Net Cash from Financing Activities (91.72) (92.15)Net Cash Increase/(Decrease) In Cash & Cash Equivalents 368.56 669.36Cash & Cash Equivalents at the beginning of the year 5,523.74 4,854.38Cash & Cash Equivalents at the end of the year 5,892.30 5,523.74

Cash Flow Statement for the Year Ended on 31st March 2019(< in Lakhs)




Pune Date : 29/04/2019

46 dm dm{f©H$ Ahdmb2018-2019

21

BHAGINI NIVEDITA SAHAKARI BANK LIMITED, PUNE.Notes to financial statements for the year ended March 31, 2019.

A. OverviewBhagini Nivedita Sahakari Bank Limited (‘the bank’) was incorporated in 1974. The bank is having eighteen branches. The area of operation is Maharashtra State.

B. SIGNIFICANT ACCOUNTING POLICIES:- 1. BASIS OF ACCOUNTING: 1.1 The fi nancial statements are prepared under historical cost conventions, on going concern basis and comply

with generally accepted accounting principles, statutory requirements prescribed under Maharashtra Co-operative Societies Act, 1960 (As amended in 2013), Banking Regulation Act, 1949, circulars and guidelines issued by the Reserve Bank of India from time to time, the Accounting Standards issued by The Institute of Chartered Accountants of India and practices prevailing in Co-operative Banks in Maharashtra.

1.2 Revenue and costs are accounted for on accrual basis except as otherwise stated. The preparation of fi nancial statements requires the management to make estimates and assumptions considered in the reported amounts of assets and liabilities, revenues and expenses and disclosure of contingent liability as on the date of the fi nancial statements. Management believes that the estimates used in preparation of the fi nancial statements are prudent and reasonable. Future results could differ from their estimates. Any revisions to the accounting estimates are recognized prospectively.

1.3 All accounting policies are consistently followed. 2. INVESTMENTS : 2.1 All investments in Government Securities, State Development Loans, Treasury Bills and Mutual Fund are classifi ed

under Held To Maturity (HTM), Held for Trading (HFT) and Available for Sale (AFS) categories, in accordance with RBI guidelines applicable to co-operative banks.

Investments which the Bank intends to hold till maturity are classifi ed as HTM securities whereas investments which are held with the intention to trade are classifi ed as HFT.

Investments which are not classifi ed in the above categories are classifi ed under AFS category. Shifting amongst the categories, if any, is done in accordance with the RBI guidelines.

2.2 For the purpose of disclosures in the balance sheet, investments have been classifi ed as required under RBI Guidelines as under:

Central and State Government Securities, Other Approved Securities, Shares, PSU Bonds and Others 2.3 Valuation of Investments: a) In case of quoted securities which are held in HTM category, investments are valued at acquisition cost. If the cost price

is less than face value, the difference is ignored. If cost price is more than face value the excess amount i. e. premium is amortized over remaining period of investment till maturity. If the maturity is in the fi rst half of the year, that year is ignored for the purpose of amortization. The book value of the security is reduced to the extent of amortized amount during relevant accounting period.

In case of quoted securities which are held in AFS category, investments are valued at cost and diminution in the book value / cost price as compared to Market Value is provided by making Provision of Investment Depreciation Reserve (IDR) at the year end. Net appreciation if any, is ignored.

b) All other investments in AFS category are stated at cost. Provision for diminution in the book value/ cost price on unquoted investments is made and included in IDR wherever necessary and is recognized in Profi t & Loss account. Net appreciation if any, is ignored.

c) Investments under HFT category are marked to market. Net depreciation, if any under each category is provided for, net appreciation, if any is ignored.

d) Treasury bills are valued at carrying cost. e) Commission / Directly Related Expenses paid in connection with acquisition of securities are treated as revenue

expenses. f) Interest accrued up to the date of acquisition of securities (i.e. broken period interest) is excluded from the acquisition

cost and recognized as interest receivable. Broken-period interest received on sale of securities is recognized as interest income. Profi t or loss on sale of securities, is calculated by following FIFO method.

g) The market value of unquoted government securities as of the balance sheet date which qualify for determining the Statutory Liquidity Ratio (‘SLR’) included in the AFS category is computed as per the Yield-to-Maturity (‘YTM’) rates published by FBIL

h) Units of Mutual Funds are valued at the lower of cost and Net Asset values provided by respective mutual funds

46 dm dm{f©H$ Ahdmb2018-2019

22

2.4 Disposal of investments : Profi t / Loss on sale of Investments is taken to Profi t and Loss account in case of HFT & AFS category securities and in

respect of HTM category securities profi t is transferred to Investment Fluctuation Reserve by way of appropriation of profi t.

3. ADVANCES : 3.1. Advances are shown at “Gross Value” and provision made for Non Performing Asset (NPA) is shown as “Bad and

Doubtful Debts Reserve” under the head “Reserves and Provisions”. In addition, a general provision is made on all Standard assets as per RBI guidelines.

3.2. Bank has followed RBI directives on Prudential Norms for Income Recognition, Asset Classifi cation, Provisioning and Other Related matters.

3.3. Loans to directors are sanctioned with respect to directives issued by the Reserve Bank of India against their own fi xed deposits.

3.4. Interest on non-performing advances is transferred to an Overdue Interest Reserve account and not recognised in the Profi t and Loss account until received.

3.5. Recoveries from bad debts written-off are recognized in the Profi t and Loss account and included under other income. 4. FIXED ASSETS : 4.1 Fixed assets are stated at historical cost less accumulated depreciation/ amortization in accordance with AS-10

“Property, Plant and Equipment”, issued by The Institute of Chartered Accountants of India. Cost of asset comprises purchase price and any directly attributable cost of bringing the asset to its working condition for its intended use. Additions to Fixed Assets are net of Service tax, Excise, GST input credit availed by the bank.

4.2 None of the assets were revalued during the year. 4.3 If any asset is found to be impaired during the year, it is written off during that year to the extent of impairment. 5. DEPRECIATION & AMMORTIZATION 5.1 Depreciation :- Depreciation is provided on straight line method on the fi xed assets at the following rates:

Particulars Current year

Previous year

Building 2.50% 2.50%Furniture, Fixtures and Dead Stock ( except Electronic Dead Stock and Name Boards) 10.00% 10.00%Electronic Dead Stock and Name Boards 33.33% 33.33%Computers & Electronics 33.33% 33.33%Printers 50.00% 50.00%Software 33.33% 33.33%

Depreciation on immovable properties is calculated by straight line method. In case of immovable properties bought prior to 1st April 2005 depreciation, is calculated by straight line method on the basis of net carrying value of assets as at April 1, 2005.

Depreciation is charged on the asset for the entire quarter on the basis of date of put to use of asset during that quarter. In case of sale of fi xed asset, depreciation is charged till the last date of the quarter, prior to the date of sale at the rate mentioned above.

5.2 Ammortization :- Premium amount paid towards lease deed is amortized over the period of lease. 6. REVENUE RECOGNITION 6.1 Income / Expenditure is accounted on accrual basis except in respect of the following items, which are accounted on

cash basis: a) Interest on Advances identifi ed as NPA (as per the directives of RBI). b) Income on units of mutual funds. c) Insurance commission & NPCI charges. d) Other fees and commission income are recognized when due, except in cases where the Bank is uncertain of ultimate

collection. 6.2 Dividend is accounted on accrual basis when the right to receive the same is established.(Upto last year accounted on

cash basis.) 7. EMPLOYEE BENEFITS : The bank has opted for contributing the employee retirement benefi ts as per Defi ned Contribution Scheme. Accordingly,

it has made long term arrangements with LIC of India for managing the Gratuity Fund as well as Leave Encashment Fund.

46 dm dm{f©H$ Ahdmb2018-2019

23

Contributions are made every year based on the actuarial valuation at the year end. The actuarial valuation is carried out as per Projected Unit Credit Method. The excess/shortfall of the contribution paid against the amount to meet accrued liability, as confi rmed by issuer is treated as prepayment or charged to Profi t and Loss account.

Bank’s contribution to Provident Fund (a defi ned contribution scheme) made to EPF Scheme of Government of India as per the statute and debited to Profi t and Loss account.

8. INCOME TAX : Tax expenses comprise of current and deferred taxes. Current Income Tax is measured at the amount expected to be paid

to tax authorities as per Income Tax Act, 1961. Deferred Tax refl ects the impact of timing differences between taxable income and accounting income measured at tax rates and tax enacted or substantively enacted on the Balance Sheet date. Deferred Tax assets are recognized only to the extent that there is reasonable certainty that suffi cient future income will be available against which such Deferred Tax assets can be realized.

9. IMPAIRMENT OF ASSETS : The Bank tests for impairment of assets at the close of the accounting period and if there are indications that suggest a

possible reduction in the recoverable value of an asset, provision for impairment loss is made. Provision for impairment loss, if any, is recognized to the extent by which the carrying amount of an asset exceeds its recoverable amount. Recoverable amount is the higher of asset’s net selling price and its value in use based on reasonable estimates.

10. LEASES : Lease rental obligations in respect of assets taken on operating lease are charged to Profi t and Loss Account over the

lease term. In accordance with AS 19 “Leases”, issued by The Institute of Chartered Accountants of India. 11. EARNINGS PER SHARE : Basic earnings per share are calculated by dividing the net profi t or loss for the period by the weighted average number

of shares outstanding during the year. The weighed average number of shares is calculated at the end of the year. 12. SEGMENT REPORTING: In accordance with the guidelines issued by RBI, segment reporting is made as under: i. Treasury ii. Other banking business/ operations 13. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS : A provision is recognized when the bank has a present obligation as a result of past event where it is probable that

an outfl ow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. Provisions are not discounted to its present value and are determined based on best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to refl ect the current best estimates. A disclosure of Contingent Liability is made when there is:

A possible obligation arising from a past event, the existence of which will be confi rmed by occurrence or non-occurrence of one or more uncertain future events not within the control of the Bank. Disputed tax liabilities, if any, are disclosed as contingent liabilities after completion of assessment proceedings.

A present obligation arising from a past event which is not recognized as it is not probable that an outfl ow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made. When there is a possible or a present obligation in respect of which the likelihood of outfl ow of resources is remote, no provision or disclosure is made.

Contingent Assets are not recognized in the fi nancial statements. However, Contingent assets are assessed continually.A. NOTES ON ACCOUNTS: 1. CASH FLOW STATEMENT (AS-3): The Bank has prepared and disclosed the Cash Flow statement following the direct method. 2. ACCOUNTING FOR INVESTMENT (AS-13): As per Reserve Bank of India guidelines, the investments are classifi ed and valued as under: The investments in Government Securities were classifi ed under Available for Sale (AFS), Held for Trading (HFT) and Held

to Maturity (HTM) category. a) Investments as on March 31, 2019 in SLR Securities are classifi ed in following categories : (<in Lakhs)

Category Financial Year Face Value Book Value Market Value

Available for Sale (AFS)2018-19 33,100.00 32,588.21 32,144.542017-18 32,600.00 32,091.36 31,392.66

Held to Maturity (HTM)2018-19 4,700.00 4,586.90 4,594.162017-18 3,200.00 3,137.94 3,131.20

Held for Trading (HFT)2018-19 - - -2017-18 - - -

46 dm dm{f©H$ Ahdmb2018-2019

24

b) Investments as on March 31, 2019 in Non-SLR Securities are as under : i. Units of Mutual Fund < 3000.00 Lakh (<in Lakhs)

Category Financial Year Face Value Book Value Market Value

Available for Sale (AFS)2018-19 1,037.26 3,000.00 3,003.392017-18 1,202.18 3,450.00 3,459.37

ii. Book value of shares in other Co-operative Institutions is < 0.82 Lakh (P. Y. < 0.82 Lakh) out of which < 0.81 Lakh (P.Y. < 0.01 Lakh) provided and included in Investment Depreciation Reserve as Non Performing Investments in earlier year has already been provided for.

c) Amortization charged to Profi t & Loss A/c for the current year is in respect of the securities held under HTM category and is in line with accounting policies point no 2.3 (a).

3. EMPLOYEE BENEFITS – (AS-15) The liability for gratuity and leave encashment have been determined by actuary in conformity with Accounting Standard

15 revised, the details are as hereunder (<in Lakhs)

Sr. No Particulars

31/03/2019 Gratuity

Fund

31/03/2018 Gratuity

Fund

31/03/2019 Leave

Encashment Fund

31/03/2018 Leave

Encashment Fund1 Discount Rate 7.60% 7.90% 7.60% 7.90%2 Expected return on plan assets 7.80% 8.00% 7.80% 8.00%3 Salary escalation rate 8.00% 7.00% 8.00% 7.00%4 Reconciliation of Opening & Closing

balance of the present value of the defi ned benefi t obligation

Present value obligation as at beginning of the year

351.95 305.78 326.25 290.25

Interest Cost 26.91 22.04 25.10 21.06 Current Service Cost 20.03 17.03 22.46 19.11 Past Service Cost 0.00 2.89 0.00 0.00 Liability transfer in Benefi ts paid -22.53 -15.80 -17.19 -11.27 Actuarial (gain)/Loss on obligations 12.40 20.01 2.40 7.10 Present value obligation as at end of the year 388.76 351.95 359.02 326.255 Reconciliation of Opening & Closing

balance of the fair value of the plan asset Fair value of plan assets as at beginning of

the year311.33 267.92 301.58 264.52

Expected return on plan assets 24.99 22.32 23.82 21.75 Contributions 40.62 37.86 24.67 26.08 Mortality charges and taxes 0.00 0.00 0.00 0.00 Transfer from other entity Benefi ts paid -22.53 -15.80 -17.19 -11.27 Actuarial gain/(Loss) on plan assets -2.68 -0.97 -0.82 0.50 Fair value of plan assets as at end of the year 351.73 311.33 332.06 301.586 Amount recognized in balance sheet : Present value obligation as at end of the year 388.76 351.95 359.02 326.25 Fair Value of plan assets as at end of the year 351.73 311.33 332.06 301.58

46 dm dm{f©H$ Ahdmb2018-2019

25

Assets/(liability )as at end of the year -37.03 -40.62 -26.96 -24.677 Expenses recognized in profi t & loss

account

Current Service Cost 20.03 17.03 22.46 19.11 Past Service Cost 0.00 2.89 0.00 0.00 Interest Cost 26.91 22.04 25.10 21.06 Expected Returns of Plan Assets -24.99 -22.32 -23.82 -21.75 Net actuarial (gain)/loss 15.08 20.98 3.22 6.60 Expenses recognized in profi t & loss account 37.03 40.62 26.96 25.02

4. SEGMENT REPORTING (AS-17) : Primary Segment Reporting (By Business Segments): (<in Lakhs)

Particulars Other Banking Operations

Treasury Total

2018-19 2017-18 2018-19 2017-18 2018-19 2017-18

Segment Revenue 5,692.31 5,916.11 3,770.28 3,604.96 9,462.59 9,521.07

Segment Result 1,507.88 1,535.78 998.74 935.82 2,506.63 2,471.60

Unallocated Expenses

Operating Profi t 2,506.63 2,471.60

Income Tax including Deferred Tax (879.42) (565.82)

Extraordinary Profi t/Loss (285.00) (863.70) 254.23 698.70 (30.77) (165.00)

Net Profi t 1,596.44 1,740.78

OTHER INFORMATION

Segment Assets 49,495.99 48,648.68 57,661.35 54,983.06 107,157.34 103,631.74Unallocated Assets 155.34 163.98

Total assets 107,312.67 103,795.72

Segment Liabilities 67,465.28 65,737.11 28,317.39 27,029.76 95,782.67 92,766.87

Unallocated Liabilities 155.34 164.02

Capital, Reserves and Surplus 11,374.66 10,864.83

Total Liabilities 107,312.67 103,795.72

5. RELATED PARTY DISCLOSURES (AS–18) : Since Chief Executive Offi cer of the Bank, Smita Kishor Deshpande, is a single party under the category Key Management

Personnel, no further details need to be disclosed under AS- 18 read with RBI circular dated 29th March 2003. 6. EARNING PER SHARE (AS –20) :

Particulars March 31, 2019 March 31, 2018

Net profi t after tax as per Profi t and Loss Account (< in Lakhs) 1,596.44 1,740.78

Nominal value of share (< Per share) 25.00 25.00Weighted average number of equity shares used as the Denominator (No s. in Lakhs) 24.68 24.77

Earnings Per Share (<) 64.69 70.28

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7. DEFERRED TAX (AS-22) : Deferred tax liability is provided for on the basis of timing differences of depreciation from F.Y. 2006-2007 and Special

Reserve. Deferred Tax Asset is recognized in respect of items covered under section 43B of Income Tax Act, 1961. (<in Lakhs)

The breakup of deferred tax asset / liabilities is as under:- March 31, 2019 March 31, 2018Deferred Tax LiabilitiesTiming difference on account of :Differences in depreciation in block of fi xed assets as per tax books and fi nancial books

94.28 95.39

Special Reserve 104.31 97.40Gross Deferred Tax Liabilities (A) 198.59 192.79Deferred Tax AssetTiming difference on account of :Bad & Doubtful Debts ( BDDR ) 53.87 51.07Gross Deferred Tax Assets (B) 53.87 51.07Deferred Tax Liabilities /(Assets)(Net) (A-B) 144.72 141.72

8. IMPAIRMENT OF ASSETS (AS–28): In the opinion of the management there is no impairment of the assets of the Bank. 9. LEASES : Operating Lease comprises leasing of offi ce premises (AS 19): (<in Lakhs)

Particulars 31.03.2019 31.03.2018Future lease rental payable as at the end of the year: NIL NIL- Not later than one year 51.69 48.11- Later than one year and not later than fi ve years 241.54 242.54- Later than fi ve years 383.76 434.45Total of minimum lease payments realization in the Profi t and Loss account for the year 48.11 46.47Total of future minimum sub-lease payment expected to be received under non-cancellable sub-lease

NIL NIL

Sub-lease payments realization in the Profi t and Loss account for the year NIL NIL

10. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSET (AS-29): The Bank has made provisions for Special Reserve, BDDR, Standard Asset Provision, Depreciation on Investment, other

necessary provisions except otherwise stated. i) Movement of Provisions: - (<in Lakhs)

Particulars March 31, 2019 March 31, 2018Opening Balance 2968.76 2813.11Provided during the year 285.00 863.70Amounts written back during the year 272.54 708.05Closing Balance 2981.22 2968.76

ii) Restructured accounts :-

(<in Lakhs)Housing loans SME Debt

RestructuringOthers

Standard advances restructured

No of BorrowersAmount Outstanding Sacrifi ce (diminution in the fair value)

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Sub-Standard advances restructured

No of Borrowers Amount Outstanding Sacrifi ce(diminution in the fair value)

Doubtful Advances restructured

No of Borrowers 1Amount Outstanding 4.23Sacrifi ce(diminution in the fair value)

Total restructured

No of Borrowers 1Amount Outstanding 4.23Sacrifi ce(diminution in the fair value)

B. OTHER DISCLOSURES : 1. ADVANCES: Bank has followed various RBI directives and circulars issued on advances and loans, credit facilities, income recognition

and asset classifi cation, provisioning, investments and other related matters. 2. CONTINGENCIES AND EVENTS OCCURRING AFTER BALANCE SHEET : Dividend recommended by the Board of Directors shall be paid after getting approval from Annual General Meeting. 3. DISPUTED INCOME TAX LIABILITIES : a. In respect of A.Y. 2007-08, 2008-09, 2009-10, 2011-12, 2012-13, 2013-14, Bank has paid an amount of < 219.91 Lakhs

against disputed demands. The bank had appealed before ITAT, Pune & all the appeals are allowed in favour of the Bank. The consequent appeal effect by ITAT, Pune is pending.

b. In respect of A.Y. 2014-15 Bank has paid an amount of < 2.42 Lakhs against disputed demand. The bank had appealed before CIT, appeals Pune & the appeal is allowed in favour of the Bank. The consequent appeal effect by CIT, appeals Pune is pending.

c. In respect of A.Y. 2010-11 Bank has paid an amount of < 34.63 Lakhs against disputed demand. The dispute is pending before Jurisdictional High Court, Mumbai.

4. CONTINGENT LIABILITIES a. Two Cases of Staff are pending before competent court, out of which Bank has deposited amount of < 5.68 Lakhs with

the High court, as per Honorable High Court Order. b. Capital commitment is Nil (P. Y. < 23.56 lakhs). c. Guarantees given on behalf of constituents < 0.75 Lakhs (P. Y. < 0.50 Lakhs) are secured by Fixed Deposits < 0.75

Lakh (P. Y. < 0.50 Lakhs). d. As per Reserve Bank of India’s guideline the amount transferred to Depositors Education and Awareness Fund (DEAF)

(<in Lakhs)Particulars March 31, 2019 March 31, 2018

Opening balance of amounts transferred to DEAF 201.25 164.38Add: Amounts transferred to DEAF during the year 27.42 39.67Less: Amounts reimbursed by DEAF towards claims 0.70 2.80Closing balance of amounts transferred to DEAF 227.97 201.25

5. NET PROFIT OR LOSS FOR THE PERIOD, PRIOR PERIOD ITEMS AND CHANGES IN ACCOUNTING POLICIES: There are no material prior period items included in Profi t and Loss Account except otherwise stated. There were no

changes in accounting policies. 6. PROVISION FOR INCOME TAX: Provision for Income tax has been adjusted against advance tax paid during the F. Y.2018-2019 (A. Y.2019-2020) and the

net amount has been shown as Income Tax payable. 7. Bank has made Corporate Agency Tie-up with The New India Assurance Co. Ltd. and Commission received during the

year is < 1.90 Lakhs (P. Y. < 3.53 Lakhs) and Commission received from National Payment Corporation of India (NPCI) for pos transactions is < 9.28 Lakhs (P. Y. < 6.52 Lakhs ).

8. As per the amendment in bye laws, training expenses of staff, directors and members of the bank are debited to Education Fund from the fi nancial year 2015-16.

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9. Disclosure of Information as per RBI guidelines : (<in Lakhs)S.No Particulars 31/03/2019 31/03/2018i) Capital to Risk Asset Ratio 24.37 22.93ii) Movement of CRAR 1.44 1.84iii) Investments :

1 Government Securities a) Book Value and b) Face Value of Investments c) Market Value of investments

37,175.1137,800.0036,738.70

35,229.3035,800.0034,523.86

2 Mutual Funda) Book Value andb) Face Value of Investmentsc) Market Value of investments

3,000.001,037.263,003.39

3,450.001,202.183,459.37

iv) Advances against Real EstateConstruction BusinessHousingLoan against property for Other Business/ Purpose

-864.40

1139.895759.70

-1,465.801,358.226,408.34

v) Advances against Shares & Debentures 0.00 0.00vi) Advances to directors, their relatives,companies/

fi rms in which they are interesteda) Fund- based against Fixed Deposit 3.25 0.00b) Non-Fund based(Guarantees, L/C, etc.) 0.00 0.00

vii) Cost of Deposits : Average cost of deposits 5.68 5.95viii) NPAs:

a) Gross NPAs 489.63 580.37b) Net NPAs 0.00 0.00

ix) Movement in NPAsi.e. Gross NPAs (90.74) 138.94and Net NPAs 0.00 0.00

x) Profi tability :a) Interest income as a percentage of working funds 8.02 8.33b) Non-interest income as a percentage of working funds 0.81 0.85c) Operating profi t as a percentage of working funds 2.32 2.38d) Return on Assets 1.49 1.68e) Business (Deposits + Advances) per employee 458.92 456.10f) Profi t per employee 5.50 6.07

xi) Provisions made toward NPAs,depreciation on investmentsStandard Assets

2,485.46444.48350.00

2,253.76698.71350.00

xii) Movement in Provisionsa) Towards NPAs 231.70 130.65b) Towards depreciation on investments (254.23) 698.70c) Towards standard assets 0.00 0.00

xiii) Foreign Currency Assets & liabilities : (if applicable) Nil Nilxiv) Premium on Deposits due to DICGC fully paid 29/05/18 30/05/17

17/11/18 24/11/17xv) Penalty imposed by RBI: Nil Nilxvi) Restructured Accounts Yes Yesxvii) Fixed Assets- Valuation/Revaluation (None of

assets were revalued )

(None of assets were revalued )

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i) Issuer composition of Non-SLR Investments (<in Lakhs)

Sr. No. Issuer AmountExtent of below

investment grade Securities

Extent of `unrated' Securities

Extent of `unlisted' Securities

(1) (2) (3) (4) (5) (6)1 Public Sector Units --- --- --- ---2 Financial Institutions --- --- --- ---3 Nationalized Banks --- --- --- ---4 Others 0.82 --- 0.82 0.825 Mutual Funds 3,000.00 3,000.00 --- ---

Total 3,000.82 3,000.00 0.82 0.826 Provision held towards

depreciation0.81 --- 0.81 0.81

ii) Non performing Non-SLR Investments: (<in Lakhs)

Particulars AmountOpening Balance 0.01Additions during the year 0.80Reductions during the above period -Closing Balance 0.81Total provisions held 0.81

10. Previous year fi gures have been re-grouped / re-classifi ed wherever necessary to conform to current year’s classifi cation.

Pune Date : 29/04/2019










(Rewati Paithankar) Vice-Chairperson





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{df` H«$.7Mm Vnerb : g§MmbH$m§Zm d Ë¶m§Mo ZmVodmBH$m§Zm {Xbobr H$O©oDetails of Topic no.7 : Loan & Advances To Directors & Their Relatives (én¶o bmImV) (< in Lakhs)

Vnerb H$O© ImVrVmaUr

31/03/2019AIoa òUo~mH$s (<)

VmaU{dZmVmaUr

31/03/2019AIoa òUo~mH$s (<)

EHy$U 31/03/2019 AIoa òUo~mH$s (<)

EHy$U H$Om©er à_mU

Particulars No. of Loan A/c

Secured Outstanding as on 31/03/2019

(<)

Security Unsecured Outstanding as on 31/03/2019

(<)

Total Outstanding as on 31/03/2019

(<)

% to Total Loan

g§MmbH$ Director

NIL NIL NIL NIL NIL NIL

ZmVodmB©H$ Relatives

1 3.25 F.D.R NIL 3.25 0.01

EHy$UTotal

1 3.25 NIL 3.25 0.01

{df` H«$.10 Mm Vnerb : ñQ>m{\§$J n°Q>Z©_m. ghH$ma Am`w³V d {Z~§YH$ ghH$mar g§ñWm, _hmamï´> amÁ` nwUo `m§À`m {X.17/03/2011 amoOrÀ`m n[anÌH$mZwgma Á`m ZmJar ghH$mar ~±Ho$Mo boIm narjU dJ© "A' qH$dm "~' Amho d [aPìh© ~±H$ Am°\$ B§{S>`mMo J«oS>oeZ dJ© "I' qH$dm "II' Amho, Aem ZmJar ghH$mar ~±H$m§Zm ñQ>mq\$J n°Q>Z© V`ma H$ê$Z Ë`mg dm{f©H$ gd©gmYmaU gôV _§Owar KoVë`mZ§Va ZmoH$a âVrgmR>r ~±Ho$À`m ñVamda {ZU©` KoVm òVrb d Ë`mg [aPìh© ~±H$ Am°\$ B§{S>`mÀ`m nyd© nadmZJrMr Amdí`H$Vm amhUma Zmhr.n[anÌH$mV Z_yX Ho$boë`m {ZH$fm§n¡H$s åhUOoM {ZH$f H«$.1 à{VH$_©Mmar ì`dgm` ê$.4.00 H$moQ>r§nojm A[YH , {ZH$f H«$.2 à{VH$_©Mmar Z\$m j_Vm ê$.2.20 bmIm§nojm A{YH$ d {ZH$f H«$.3 H$_©Mmè`m§darb IMm©Mo IoiË`m ^m§S>dbmer à_mU 1.50% nojm H$_r, `m VrZ {ZH$fm§Zm AYrZ amhÿZ V`ma Ho$bobm ñQ>mq\$J n°Q>Z© {ZpíMV H$aUo Amdí`H$ Amho. Amnë`m ~±Ho$Zo darb gd© {ZH$f nyU© Ho$bo AmhoV Ë`mZwgma V`ma Ho$bobm ñQ>mq\$J n°Q>Z© _§OwargmR>r R>odV AmhmoV.

Details of Topic no.10 : Staffing PatternAccording to the circular dated 17.03.2011 of the Honorable Commissioner of Co-operation and Registrar of Co-operative societies, Maharashtra State, Pune, the Urban co-operative banks with Audit Class 'A' / 'B' and Reserve Bank of India's grade 'I' / 'II', can prepare their own staffing pattern after prior approval for it in the Annual General Meeting. Bank can then take decision for recruitment at their level without prior permission of Reserve Bank of India.

The staffing pattern has to be decided subject to three criteria as mentioned in the above referred circular on criterion no.1 per employee business to be more than <4.00 crores, criterion no.2 per employee profitability to be more than <2.20 Lacs and criterion no.3 ratio of staff expenses to working capital to be less than 1.50%. All the above criteria have been fulfilled by our bank. The staffing pattern prepared accordingly is kept for approval.

{df` H«$. 12 Mm Vnerb : H$O© ImË¶m§Mo {Zb}{IH$aUgd© H$m`Xoera _mJm©Mm Adb§~ d gVVMm nmR>nwamdm H$ê$Zhr Á`m H$O© ImË`m§Mr dgybr hmoV Zmhr, Aer ImVr {Zb}{IV H$aÊ`mMm àñVmd Amnë`mnwT>o R>odbobm Amho. WH$sV H$O©ImË`m§Mr a¸$_ ê$.26.28 bmI {Zb}{IV H$aÊ`mg _mÝ`Vm Úmdr hr {dZ§Vr. hr ImVr {Zb}{IV H$aÊ`mgmR>r A§VJ©V boIm narjH$ d d¡Ym{ZH$ boIm narjH$ `m§Zr _mÝ`Vm {Xbr Amho. hr a¸$_ {Zb}{IV H$aVmZm ~±Ho$Mm dgwbrMm H$m`Xoera h¸$ A~m{YV amhrb.

Details of Topic no.12 : Write off advances accountsWe are proposing to write off the accounts where, despite following all legal means and continuous follow-up, no recovery is forthcoming. We request approval to write off amount of <26.28 Lacs from such accounts. Our Internal Auditors and Statutory Auditors have given their approval to write off these accounts. However Bank's legal right to recover the amounts from these accounts in future would remain unattached.

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~±Ho$Mm dmT>V OmUmam EHy$U ì`dgm`~°§Ho$À`m àJVrMm AmboI

ZŠV _yë` (Net Worth) {Zìdi Z\$m (Net Profit)

é. 68.90 é. 6.03

é. 193.41 é. 15.96

df© 2009 df© 2009

df© 2019 df© 2019

~±Ho$Mo dmT>V OmUmao ZŠV _yë` d {Zìdi Z\$m

R>odr (Deposits) H$O} (Loans)

é. 363.40 é. 221.39

é. 858.95 é. 471.93

df© 2009 df© 2009

df© 2019 df© 2019

(én¶o H$moQ>rV)

(én¶o H$moQ>rV)

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02114-22255802114-224644

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BNB Annual Report Cover New Final - Bhagini Nivedita Bank

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