WORKING OF THE CUDDALORE DISTRICT CENTRAL COOPERATIVE

BANK LTD PANRUTI

by
KALAIVANI.K
17UMAT136

Under the Guidance of

Ms. P. KAVITHA M.Sc., M.Phil., B.Ed.,

Assistant Professor of Theivanai Ammal College, Villupuram.

DEPARTMENT OF MATHEMATICS
MAY 2019

1
 DEPARTMENT OF MATHEMATICS

Certificate

KALAIVANI.K
17UMAT136

Submitted report on “Cuddalore District Central Cooperative Bank Ltd Panruti ”.

Certified further that to the best of my knowledge the work reported here in does not
from part of any other summer internship report or dissertation on the basis of which a
degree or award was concerned on an earlier occasion on this or any other candidate.

Internal Guide Head of the department

Submitted for the viva voice Examination held on 10.07.2019 at Theivanai

Ammal College for Women (Autonomous) Villupuram.

Signature of the External Examiner

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 DECLARATION

I Hereby declare that the report of kalaivani.k Submitted by the

department of Mathematics, THEIVANAI AMMAL COLLEGE FOR
WOMEN (AUTONOMOUS) in partial fulfillment for the II year Summer
Internship Program of Mathematics Department.

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 ACKNOWLEDGEMENT

At first, I say my heartfelt thanks to the Almighty for the abundant blessings showered
on me and for giving a chance to reach here.

I express my deep sense of gratitude to Thiru. E. SWAMIKKANNU, Chairman and

Mr. S. SENTHILKUMAR M.Com., Secretary, Theivanai Ammal College for
Women, Villupuram for giving me opportunity to study in this institution.

I express my grateful thanks to Dr. E. SOUNDARA RAJAN M.Com., M.Phil.,

M.B.A., Ph.D., Deputy Registrar, Theivanai Ammal College for Women, Villupuram
for patronizing my project.

We are also bound to give our sincere thanks to our Dr. A. V. ARUNAKUMARI,
M.Com., M.Phil., NET., PGDHRM., M.B.A., Ph.D., Principal of Theivanai Ammal
College for Women, Villupuram for giving encouragement to carry out this report.

I express my grateful thanks to Ms. V. S. SELVI M.Sc., M.Phil., SLST., PGDCA.,

Head of the Department of Mathematics & vice Principal of Theivanai Ammal
College for Women, Villupuram for her valuable guidance and encouragement
throughout this project and course.

I express my sincere thanks to Ms. S. AKILA M.Sc., M.Phil., B.Ed., (Ph.D)

Lecturer in Mathematics., Theivanai Ammal College for Women, Villupuram for her
valuable suggestions and guidance rendered to me during this dissertation work.

I extend my sincere thanks to Ms. P.KAVITHA M.Sc., M.Phil., B.Ed., Assistant

Professor of Mathematics, Theivanai Ammal College for Women, Villupuram for
providing golden opportunity for carry out this report. I also extend my sincere thanks to
all the Faculty of department of Mathematics for their moral support.

I want to thank Mr.Sridhar, Senior Manager, and all the employees of The Cuddalore
District Central Operative Bank for their co-operation in successfully completion of the
project work on C.D.C.B(Panruti).

At the outset, I extend deepest love and gratitude to My Parents and Family
members and My Friends and Well-Wishers helped me by their valuable suggestions in
completing this project successfully.

Place: Villupuram KALAIVANI.K

Date: 10.07.2019 17UMAT136

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 Contents
S.NO TITLE

1 INTRODUCTION OF BANK

2 BANK PROFILE

3 ORGANIZATION STRUCTURE

4 OBJECTIVES

5 SCOPE OF THE BANK

6 BASICS OF BANKING

7 ESTIMATION

8 CONCLUSION

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 INTRODUCTION OF BANK

In simple words a Bank refers to an Institution that deals in money &

credit. Banks are the main center of business & commerce.
The word ‘Bank’ comes from the word Bancus or Banque which mean is
Bench. In the words of kindly, Bank is an Establishment that make such
advances of money or other means of payments as may be required and
safety made to which individuals interest money or means of payments when
not required by them for use.
According to Banking regulation act 1949, “For the purpose of lending or
investment, accepting of deposits of money from the public, repayable on
demand on otherwise and withdraw by cheque, draft, order or otherwise.”

ORIGIN AND GROWTH OF CO-OPERATIVE BANKS

Co-operative banks are a part of the vast and powerful superstructure of
co-operative institutions which are engaged in the tasks of production,
processing, marketing, distribution, servicing and Banking in India. The
beginning of co-operative banking in this country dates back to about 1904
when official efforts were initiated to create a new type of institution based
on the principles of Co-operative organization and management which were
considered to be suitable for solving the problems peculiar to Indian
conditions. In rural areas, as far as agricultural and related activities were
concerned, the supply of credit, particularly institutional credit, was
woefully inadequate, and unorganized money market agencies, such as
money lenders, were providing credit often at exploitatively high rates of
interest. The co-operative banks were conceived in order to substitute such
agencies, provide adequate short-term and long-term institutional credit at
reasonable rates of interest, and to bring about integration of the unorganized
and organized segments of the Indian money market. When the national
economic planning began in India, co-operative banks were made an integral

6
part of the institutional framework of community development and extension
services, which was assigned the important role of delivering the fruits of
economic planning at grassroots levels. In other words, they became a part
of the arrangements for decentralized plan formulation and implementation
for the purpose of rural development in general and agricultural
development in particular. Today co-operative banks continue to be part of a
set of institutions which are engaged in financing rural and agricultural
development. This set-up comprises the RBI, NABARD, commercial banks,
regional rural banks, and co-operative banks. The relative importance of co-
operative banks in financing agricultural and rural development has
undergone some changes over the years. Till 1969, they increasingly
substituted the informal sector lenders. After the nationalization of banks and
the creation of RBI and NABARD, however, their relative share has
somewhat declined. All the institutional Sources contributed about 4 percent
of the total rural credit till 1954. The contribution increased to 62 percent by
1990. The share of co-operative banks in this institutional lending has
declined from 80 percent in 1969 to about 42 percent at present. The
percentage of rural population covered by the agricultural credit co-
operatives was 7.8 in 1951, 36 in 1961, and about 65 percent at present.

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 BANK PROFILE

Type : Government Aided Bank

Manager of the Bank : P.Sridhar

Bank Name : The Cuddalore District Central Cooperative Bank

Address : Cuddalore Road ,Panruti.

Year : 23.8.1969

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FUNCTIONS OF A BANK
A tree is known by its fruits as well as Banks known by his works. Banks have done so
many other important functions instead of depositing & lending money. Banks functions are
divided into two parts: -
Primary & Banks function
Secondary & helping function

PRIMARY FUNCTIONS
 Depositing Money
 Lending Money

DEPOSITING MONEY: - It is deposited by three ways for opening a:

 Fixed deposit a/c
 Saving deposit a/c
 Current deposit a/c
Lending Money: - Money lending to needy person in following ways: - Bank gave
loans to customers of bank in following ways:
 Loans
 Cash credit
 Overdrafts
 Purchasing & discounting of bills.

SECONDARY FUNCTIONS
 Agency functions
 Utility functions

Agency Functions:- Banks done many work to his customer as an agent. These are as
follows: -
 Collection of cheques, bills & interest etc.
 Payment of Insurance premium other Installments.
 Purchase & sale of securities.
 Transfer of funds
 Acting as a trustee, executor or attorney.

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UTILITY SERVICE:- Bank gave services to society. Those services are as follows:
-
 Safe custody of valuables securities.
 Issuing letter of credit, travelers’ cheques.
 Accepting Bill of Exchange.
 Providing Trade information.
 Dealing in foreign exchange.
 Advice on financial matters.
 Giving information about credit worthiness of customers
 Financing foreign trade
 Credit creation
 Underwriting of capital issues & loans.

IMPORTANCE OF A BANK
 SAFETY OF MONEY:
The money with the bank remains in safe custody there is always risk in
keeping cash with one’s own self. It may be lost or stolen. Business man like to keep
money with a bank to avoid risks of money the customer need not keep large some of
money.
 IT CULTIVATES HABIT OF SAVING:
Banks cultivates the habit of saving in the Bank on the one hand are safe and
on the other earned interest for the depositor who prompted to safe and deposit money in
their banks accounts.
 FINANCIAL HELP TO CUSTOMER:
Banks allows overdraft facilities to their customer so whenever a customer
needs money he can even withdraw more money then the balance in his account. Bank
also grants loans and credit facilities to their customers.
 SAFE CUSTODY OF VALUABLE ARTICLES:
Valuable articles deals security etc. can also be deposited in the bank for safe
custody. Safe deposit vaults are provided by bank for storing these valuables.
 OTHER INFORMATION:
By opening an account with a bank, the customers may also take
advantages of various other services providing by the banks, such a purchase and sale of
securities, travelers cheque etc.

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 RELATIONSHIP BETWEEN BANKER & CUSTOMER
Instead of secondary functions banks gave some other important services to his
customers. The main function of banker & customer is as Debtor & Creditor. Banker
works as an agent & also a trustee of his customer.

KINDS OF BANKS
 Commercial banks
 Industrial banks
 Agricultural banks
 Exchange banks
 Post office saving bank
 Indigenous bankers
 Regional rural bank
 Import export banks
 National bank to agriculture & rural development (NABARD)
 State bank of India
 Reserve bank of India

THE CUDDALORE DISTRICT CENTRAL CO-OPERATIVE BANK

LTD, HEAD OFFICE, PANRUTI.
Objectives:
As per bye-law no. 4, the object of the Bank is to facilitate the operation of the
affiliated Co-Operative societies by: -
 Providing banking & credit facilities to its members, as convenient & easy terms
are possible.
 Encouraging thrift & saving amongst its members by offering suitable
facilities.
 Making arrangements for supervision and inspection of its affiliated co-
operative Societies.
 Undertaking such measures as are conductive to the spread of
co-operative education and training.

RESOURCES

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 The bank resources is collection of share capital, strengthening of its owned
funds, by topping deposits from the public and borrowings from NABARD,
TAMILNADU State Cooperative Bank Ltd., TAMILNADU.
The main resources of the bank as as under
Banks detail of funds is as under:-
a) Statutory Reserve
b) Bad & Doubtful debt fund
c) Agriculture credit stabilization fund
d) Building funds
e) Cooperative education and propaganda fund
f) Common good fund
g) Primary vikas fund
h) Cooperative development fund
i) Pension fund
j) Share transfer fund
k) Gratuity fund
The main resources of the bank is deposits. There are various schemes of deposits
namely :-
* Current Deposits
* Savings Bank Deposits
* Fixed Deposits
* Long Term Re-investment Deposits
* Recurring Deposits

Rate of Interest on Deposit

Existing Rate New Rate

Upto 03/07/2008 w.e.f 04/07/2008

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 Saving Bank 3.50% 3.50%
Fixed Deposits maturity period
5.50%
15 to 45 days 4.75%
5.50%
46 to 90 days 5.25%
7.25%
91 t0 179 days 7%
7.50%
180 days but less than 1 year 8%
8.75%
1 year but less than 2 year 9.50%
8.50%
2 year but less than 3 year 9.25%
8.25%
3 year and above 9%

Opening of bank account the bank has printed their own account opening form in
which the depositor has to fulfill all the data in account opening form. Account can be
opened and operated Self only jointly either or survivor former or survivor anyone or
survivor. Any other with the specimen signature and photo of each applicant bank has
allowed in these accounts. Nomination facilities on the prescribed form DA -1 under
section -45ZA of banking regulation Act 1949 after obtaining proper identification of the
customer & introduction of existing customer with address after obtaining the one photo
and document from below list of ID proof
 Election ID card
 ID card of reputed employer
 Driving License
 Electricity Bill
 Pan Card
 Telephone Bill
 Pass port
 Salary Slip
 Government/ Defence
 Income/ Wealth Tax
 ID card
 Assessment Order

Saving Bank Accounts:

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 In the ledger account opened under the serial no of the customer with his/ her
father’s/husband name with complete address. An account is allotted in the ledger, mode of
signature filled in the ledger . S.B account is opened with minimum amount of Rs 500 in
cash except no frills account which are opened with Rs 5. A pass book is issued to the
customer. If he wants a cheque book, the same is issued to the customer free of cost after
getting signature in the cheque book issue register. With drawl form bank has made facility
upto Rs 40000. On presentation of pass book must with the with drawl form duly signed by
the account holder.

Maintaining of deposit register and files

The Mall Branch of bank is fully computerized. The other branches are maintaining the
following ledgers, registers & files.
a) Account opening form register
b) Specimen signature file
c) Cheque book issue register
d) Loose cheque issue register
e) Nomination register

Rate calculation of interest:

The interest in saving bank account is calculated on monthly product. The lowest
balance in account on one day between 10th and last day of each calendar month on every
completion of Rs 10 is taken as product for the month and the total products for six months
is arrived at. No interest should be paid if the interest is less than Rs 5. Interest is to be
rounded of nearest rupee if the paise involved are 50 or more it should be rounded of to the
next higher rupee if paise involved are less than 49 the paise is ignored.
-------------------------------------------------------------------------------------
Month Minimum balance Product
---------------------------------------------------------------------------------------
April 2513.13 2510
May 3950.50 3950
June 113.00 110
July 119.75 110
August 4899.00 4890

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 September 5805.10 5800
Total Product 17370

The formula of interest calculation is Total Product * Rate of Interest /1200.

Hence the interest is 17370 * 3.5/1200 = Rs 50.66 interest so calculated is credited in
this account with Rs 51 upto 10th of October. The voucher at branch level is prepared
as
Debit: Interest paid on deposits Rs 51
Credit: Saving Bank account Rs 51

Inoperative Accounts – Separate Ledger

All the S.B account in which there is no operation for the last three years
must be separated from operative accounts and separate ledgers are to be
maintained for this purpose.
Similarly all saving bank accounts which have not been operated for the last 10
years, should be transferred to unclaimed deposits as per section 26 of Banking
Regulation Act 1949. For detail procedure to be adopted to separate these
accounts.
SEHKARI BANK BIMA YOZNA
Individual in the age group of 10-70 years opening saving bank account are
eligible to join the scheme.

Minimum Balance
The minimum balance of Rs 1000 is to be maintained in the account with no
maximum ceiling. Cheques issued on the account violating minimum balance
stipulation are liable to be dishonoured by the bank.

Nomination Facility
This facility for deposit account is available and is restricted to one
individual only. Nomination shall be made preferably at the time of opening of the
15
account. Nomination can be cancelled or changed at any time. Nomination for
bank deposit and insurance scheme shall be the same.

Sehkari Bank Bima Yojna Register

As and when any member opens new account or existing member adopts the
scheme, his name shall be entered into the Sehkari Bank Bima Yojna Register
maintained at the bank/ branch.

Statement to Head Office

The branches shall send the statement along with draft/advise to the
head office about the accounts opened under the scheme during the month. The
head office of the bank shall collect the information of all the branches, consolidate
it and shall submit the same to the Punjab State Cooperative Bank Ltd. atleast two
days before the last day working of the month for onward submission to the
insurance company.

Insurance Cover
Persons joining the scheme are provided with accident insurance cover
under the “ Group personal accident insurance policy “ of the General Insurance
Company and the following risks are covered.
a) Death Rs 100000.00
b) Permanent total disability Rs 100000.00
c) Loss of 2 eyes/feet/hands Rs 100000.00
d) Loss of 1 eye/foot/hand Rs 50000.00

Procedure for Claim

Immediately after the happening of the accident it should be informed
by the claimants to the Concerned branch of the bank where the

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depositor is maintaining the account and nearest branch of the
insurance company. Claim form can be obtained from the bank
branch or from the branch of the company and are to be submitted to
the insurance company through the branch.

Disposal for claim

The claim shall be disposed off as early as possible and the claim shall be
made to the bank for disbursement to the nominee in case of death or to the
depositor in case of disablement.

Documents required with claims:

The following documents should be submitted along with the claim form.
a) In case of death
1. Death certificate
2. Post mortem report
3. Copy of first information report
4. Name of the nominee
5. Any other relevant document
6. Premium remittances confirmation from the bank

b) In case of disablement
1. Photograph of the disabled showing disability.
2. Disability certificate issue by the doctor
3. Police report/ report from Sarpanch of village or Lambardar
4. Any other relevant document.
5. Premium remittances confirmation from the bank

FIXED DEPOSIT AND LONG TERM DEPOSIT

Fixed Deposit

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 Fixed Deposit is a deposit scheme wherein a depositor agrees to receive
back the principal amount after a specified period agreed to at the time of
deposit. Interest may be received by him either periodically or at maturity. Fixed
Deposit can be opened for any amount subject to minimum of Rs1000/-

Long Term Deposit

Long term deposit is a deposit scheme wherein a depositor agrees to
receive back the principal amount together with interest accrued after a certain
period agreed at the time of deposit. Interest earned thereon under this scheme is
reinvested at quarterly rests to yield compound interest. Long term deposit
accounts are opened with minimum amount of Rs1000/-. The minimum period
of deposit is 2 quarters ( 6 months).

Account opening form

The requirement for opening a Fixed Deposit/ Long term deposit with
respect to account opening form, introduction, photographs, specimen signature,
requirement of income tax authorities, staff accounts, nomination secrecy.

Payment of interest quarterly

In case of Fixed Deposit, the customer may get payment of interest when it
accrues at every quarter. The instruction to this effect, if customer desires so, be
obtained on the account opening form as “Please credit the interest accrued
every quarter to my Saving account/ Current account/ Recurring Deposit”.
Another term deposit in case of existing term deposit account where the
customer account Fixed Deposit or Long term deposit is already running he
needs not required to open another corresponding account while depositing
money for another fixed deposits or long term deposit. The customer needs to

18
fill up pay-in-slip while depositing money writing wherein his Fixed deposit
account number or Long term deposit account number, as the case may be. In
this case account opening form will not be required to fill up again by the
customer.

ISSURANCE OF FIXED DEPOSIT/ LONG TERM DEPOSIT RECEIPT

Preparation of credit voucher and receipt for Term Deposits

The depositor should remit cash through the pay-in-slip provided by the
bank along with application for opening the deposit account. While writing the
receipt, the following particulars should be included.

1. Date to be mentioned in Term Deposit Receipt

While writing the date of issue of the Term Deposit Receipt, the numeral
of date, month & year should be written legibly in the place provided for.

2. Name to be mentioned on Term Deposit Receipt

The name of depositor should be written in full term on Term Deposit
Receipt. In case of joint accounts, names of all joint depositors should be
written.

3. Period of deposit on Term Deposit Receipt

Period of deposit should be written in term of months instead of years
and for a period below 12 months, it should be written in term of days
instead of months.

4. Rate of Interest on Term Deposit Receipt

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 The rate of Interest applicable for the period of deposit should be written
legibly in the space provided for. The latest circular from Head Office
regarding current interest rates should be refereed.

5. Due Date
Due Date should be correctly calculated and written. When due date
falls on bank holiday, the amount is to be paid on next working day. In all
such cases, interest for the holiday involved at the contracted rate should
also be paid. If the month in which the deposit becomes due does not have
the date corresponding to the date of deposit the last day of the month will
be the due date. Thus, the due date for Fixed Deposit Receipt for 18 months
issued on 31st August 1998 would be 29th February 2000. However, in case
the period of deposit had been expressed in terms of days and not months,
the due date should be calculated as per the following rule:
1) Calculated days and not months. If February of that year has 29 days,
calculate for 29 days (not 30days).
2) Include date of deposit
3) Exclude the date of payment, take the next date

Example: The due date for Fixed Deposit Receipt dated 04.10.1999 for 91
days should be calculated as under:
October 1999 (04.10.1999 to 31.10. 1999) 28 days (including date of
deposit)- Rule (2)
November 1999 30 days – Rule (1)
December 1999 31 days
89 days

The period of deposit is 91 days, so we must add days 2 days in 89 and it

comes out to be 2nd of January, 2000. By applying rule (3) the due date
becomes 3rd of January, 2000.

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 6. Interest runs from
The column ‘Interest runs from’ shall be filled with the date on which
the deposit receipt is prepared. In case deposit is renewed from the back date,
the date in this column will be the due date of the overdue deposit.

Term Deposit Receipt- typed or written

The deposit receipt may either be typed or written in hand. If written in
hand, it should be neat and legible. In computerized branches, where term
deposit receipt are prepared with the help of printer and computer, paper
should be adjusted in such a manner that its printing is legible and at proper
place.

Number in pay-in-slips and account opening form

The deposit receipt number should be written in account opening form and
also in the pay-in-slip.

Signature on deposit receipt

The deposit receipt should be signed by two authorized officer after
scrutinizing the pay-in-slip, account opening form and deposit receipt.
Acknowledgement from deposistor

The Depositor’s signature should be obtained on the back side of the

counterfoil in token of receipt of the deposit receipt and the deposit receipt
should be handed over to the depositor.

Matured amount to be written on long term deposit receipts

In the long term deposit scheme of term deposit, the interest earned
is reinvested (compounded quarterly) and paid on maturity. So, in the long

21
term deposit receipt, the matured amount is mentioned therein which should
be written both in figures and words. Whereas, matured amount is not
written on fixed deposit receipt as the depositor has the option to receive the
interest monthly/ quarterly/ half yearly, i.e., before maturity.

Entry in fixed deposit & long term deposit ledgers

Separate ledgers for fixed deposit & long term deposit should be used.
All the relevant particulars such as name of the depositor, date, period of
deposit, rate of interest, due date, maturity value, instructions regarding
disposal of balance in respect of joint accounts should be entered.
Interest Payment Register
The details of fixed deposits should be entered in the Interest Payment
Register. Entries in Interest Payment Register are not required in case of
long term deposits.
Payment of interest on long term deposits .The interest on long term deposit
is compounded quarterly and is paid only on the maturity date of the deposit
along with principal amount. The interest should be calculated at the end of
each quarter and must be credited in the account of the depositor.

Payment of interest on fixed deposits

a) Where the deposit is for one year or more while calculating the days for
the purpose of interest, the following rules should be observed:
1) Include the first day of deposit
2) Exclude the last day of deposit
3) Each month is considered to have 30 days

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b) Where the deposit is less then a year
If the fixed deposit is made for a specified number of days less than a year,
interest should be calculated by taking the actual number days in a month.

Discharge
To make payment of fixed deposit/ long term deposit on due date, if
the customer present himself to receive the payment, he may be asked to
discharge the fixed deposit/ long term deposit receipt on the back of it. His
signature on the fixed deposit/ long term deposit receipt shall be tallied with
specimen signature in record of the bank.

Closure of long term deposit

The receipt and the account opening form should be cancelled by
writing words ‘Account closed on --------- (date)’. The account should be
closed in ledger by posting the necessary entries. The ledger and the due date
register should be marked with a notation ‘Account closed and cash paid/
amount transferred to SB/ Current account on ---- ‘. Whereas if there are
other term deposits in the term deposits accounts, the account should not be
closed.

RECURRING DEPOSITS
A Recurring deposits is a form of term deposit in which depositor
deposits a fixed sum of money by way of monthly installments over a
stipulated period and on the expiry of this period. The accumulated amount
along with interest accrued is paid in lump sum.
Rate of interest
The rate of interest on recurring deposit for various periods will be the rate
applicable on term deposits for the corresponding period. Interest is
compounded at quarterly rests.

23
Amount of deposit
A recurring deposit is accepted with a minimum monthly installment
of Rs 10/- in multiples of Rs 10/-.

Period of deposit
The minimum period of recurring deposit is 6 months and maximum
period is 120 months with multiples of 3 months

Maturity value
The maturity value (the amount payable at the end of the period of
deposit, comprising the principal and interest accrued thereon) can be
calculated from the interest charts supplied to the branches.

Entry in recurring deposit ledger

Separate ledger for recurring deposit should be used. All the relevant
particulars such as name of the depositor, date, period of deposit, rate of
interest, due date, maturity value and amount of installment.

Issue of pass book

The ledger keeper should prepare the pass book for recurring deposit
at the time of opening of account in the personal ledger and it should be
authenticated by the officer concerned of the branch before it is delivered to
the customer. The date of maturity should not be mentioned on the pass book
but month on which it matures can be written therein. The rate of interest
can be mentioned therein. The customer should be asked to bring the pass
book in the branch whenever he pays the installment.

Penal charges

24
 In case the installment are not deposited in the respective calendar
month in which they due, Penal charges are to be recovered for the delay.
The penalty is charged at the rate mentioned below:
1) Rs 1.50 for every hundred rupees per month for deposits upto 5 years and
less
2) Rs 2 for every hundred rupees per month for deposits over 5 years.

Loan against Recurring Deposit

Loan against Recurring Deposit can be allowed to the recurring
deposit holder. To avail the loan, the recurring deposit account holder should
lodge the passbook with the Bank duly discharged over the revenue stamp of
appropriate value at the space provided for in the last page of the passbook.

CURRENT ACCOUNTS
WHO CAN OPEN CURRENT ACCOUNT?
1) Person in his own name
2) Two or more persons in their joint names with operations as either or
survivor, Jointly/Jointly or Survivor, Anyone or Survivors or Survivor.
3) Cooperative societies, Partnership firms, limited companies, joint stock
companies, ssclubs, religious institutions, associations, Local bodies.

WHO CANNOT OPEN CURRENT ACCOUNT?

1) Minor
2) Pardanashin ladies
3) Illiterate Persons
4) Blind Persons
-------------------------------------------------------------------------------
Type of accounts Additional Documents

25
 ---------------------------------------------------------------------------------
1) Declaration of sole proprietorship

2) Partnership Firms a) Partnership Letter

b) A copy of partnership deed

3) Joint Hindu families a) Joint Hindu family letter

4) Limited companies a) Certificate of incorporation

b) Certificate of
commencement of business.
c) Memorandum and article of
Association
d) Board’s resolution

5) Clubs, Schools, Societies, a) Certificate of registration or

Committees incorporation
b) A copy Bye –laws, rules,
regulations as the case may be
c) Memorandum of
Association, if any

d) Resolution of board of directors

e) Latest copy of balance sheet
in case of Co-operative
Societies.
6) Trusts a) Instrument or document of
truck or relevant extract
thereof.

26
 b) Resolution
c) Certificate of registration from
charity Commissioner
7) Provident funds a) Trust deed
b) Rules of Provident fund
c) Resolution
8) Guardians appointed a) Court order or Guardianship
by court in respect Certificate of
minors

Minimum Amount:
Account shall be opened with minimum balance of Rs 5000/-.

Issue of cheque book:

Cheque book may be issued to the account holder on the written request only.
Cheque book issued to the new account holder for first six month shall be
stamped ‘ New Account’.

FUNCTIONS OF THE DEPARTMENT

 To maintain monthly statements etc; like as – LIC, Income Tax, GSLI
 Grievance of public & branches.
 Yearly statements.
 Master policy of holder such as – EDLT, GI, and House Loan.
 Statements of NABARD.
 House Loan

27
 To issue charge sheets of employees & maintain it.
 To maintain Misc. files.
 To maintain several records (with service book of employees)
 Transfer of employees.
 Increment concerned with employees.
 Pass T.A. D.A. bill of employees
 Salary of employees’ maintained.

FUNCTIONS OF ACCOUNT SECTION

 The Misc. department reconciled the A/c of all the branches.
 That department issue the drafts of local, state level /aims.
 Furniture fixture.
 This department keeps up the current A/C related with commercial
bank.
 It helps to maintain sundry A/C.
 Maintain the current A/C with P.S.C.B.
 Passing the M.C.L. of societies.
 Sanctioned of cash credit limits of societies.
 Maintenance of receipt and dispatch register.

NUMBER OF PERSON WORKING

 In this section number of persons working are ten.
 1 Senior Manager
 2 Manager
 2 Assistant Manager
 5 Clerks

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FUNCTIONS OF LOAN SECTION
 Sanction all types of loans; like as – Consumer Loan ,
Composite/integrated loan, Vehicle Computer loan -
staff member
 Sanction all types of limits; like as – cash credit trader
Cash credit farmers, Loan against - property, Rural godown,
Mini dairy, Mai Bhago scheme.
 Renewed cash credit limits.
 Physical verification done before sanctions the limits or loans.
 Vehicle loan – two wheeler, three wheeler, & S.R.T.O.
 Maintain statements for refinance &send to NABARD.

ACCOUNT & FINANCE DEPARTMENT

Keeping of account and maintaining books of accounts, preparing
profits and loss accounts, preparing budgets, pay rolls, recording receipts
and payments, preparing statement of assets and liabilities etc. are office
activities of specialized nature. All these are office work and performed by
this special office.

MISCELLANCEOUS ACTIVITES
 OFFICE TIME: - The C.D.C.B. has fixed the timing for all the
employees the timing of this company is 10a.m. To 6p.m. The recorded
of the arrival & departure was recorded through Attendance register
company maintenance the attendance registers. All the employees come
at 10a.m. Entered the time in the Attendance register in the first column
and at time of lunch. The entire employee entered. The departure time for
lunch at 2p.m. When they come after lunch they will entered the arrival
time 2.30p.m. Than duty was complete they will entered the departure

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 time 5.00p.m. And also entered the total working hours in the full day.
There is no extra system for recording the time.

 LOGBOOK: - All the vehicles of the company having logbook. Each

vehicle has own separate logbook. All the records of this vehicle were
kept in this logbook.
The perform shows that, how much kilometer are to be
used by this log book the person who used the vehicle fill this log book
and signed on also fill that for what purpose. The vehicle was used.

 FACILITIES FOR STAFF: - The following facility is available to staff

members.
 House Loan facility at subsidiary rate.
 Scooter loan/ motorcycle/ car loan at subsidiary rate.
 Festival loan.
 Medical loan
 LTC Loan (Loan Travelling Concession)
 DA (daily allowance)
 TA (travelling allowance)
THE CUDDALORE DISTRICT CENTRAL COOPERATIVE BANK

Schemes Rate of Interest

1. Cooperative kisan credit card 7% (from
PACS 4.5%)
2. Revolving cash credit card 11%
3. Urban & Rural Housing Plan 11%
4. Two wheelers loan 13%
5. N.F.S & S.R.T.O
- 50000& above 13%
6. Personal Loan 14%

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7. Consumer Loan 14%
8. Personal Vehicle
- 200000 & above 13%
9. Commercial Dairy 11%
10. Cash credit traders 12%
11. Education Loan 11%
12. Self help group 11%
13. Medium term agriculture purpose 10%
14. Non agriculture purpose short term 10%

Conclusion

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 Overall, internship is really good recommended to all my fellow
friends. It helps to enhance and develop the skill, abilities and
knowledge.It was good experience and memories as not only I have
gained experience, but also new friends and knowledge C.D.C.B also a
good place to internship since it provides numerous benefits and
advantage to the practical trainees. They provide us our own places and
several accommodations such as laptops, access card, WIFI. The
treatment of the bank was just, equitable and professional. I have learned
from different unit and people. I am grateful and thankful to the bank
manager, Mr. Sridhar and the department of In-business control for
experience and tutoring. They also help me to handle some of my
weakness and provide guidance to me whenever I’m need. I think the
time duration of one month for the internship was not enough for me to
learn more details about the job. Here I conclude my report.

Picture as intern

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