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3.1 COMPANY PROFILE
THE KARALAM SERVICE CO-OPERATIVE BANK

The bank is defined as “Karalam Service Co-

operative Bank Ltd No: 600, ThrissurDistrict, MukundapuramThaluk,
Karalam Village, Thanissery P.O”. The bank ‘s registered address will be
Karalam 600 No, Service Co-operative Bank, Thrissur District,
Mukundapuram Thaluk, Karalam Village, Thanissery Post Office
respectively.

Karalam Service Co-operative Bank is situated in

Karalam gramapanchayath about 10Km west of karuvannur River, which
is its operational zone. Karalam Service Co-operative Bank is set up in
1947 at Kizhuthani as multi-regional Co-operative society and grew up as
Karalam Co-operative Society in 27/2/1968. The Karalam Service Co-
operative Society was registered under kerala Co-operative Societies Act
1969. Head office of the bank is situated in Kizhuthani, Thrissur District.
From a humble beginning the bank has made great progress within the
short term and is at par some of the major banks in the area. From
1/7/2002 the bank is running in special grade of class 1. Now the bank
has 3 branches in Thanissery, Chemmanda, Karalam and 1 extension
counter in Vellani. Now about 4500 sqft area is allocated as head office
main branch, Co-operative hall, Neethi medical store, Neethi clinic,
Ration shop, and fertilizer and pesticides depo, etc. The bank implements
all the available modern banking facilities to help its customers at the
maximum. A lot of trust is given by the bank in providing its customers at
the maximum facilities. Already the bank provides a good number of
interesting deposit schemes and loan plans. Core banking is also being
implemented to provide better facilities for our customers.

Different loan schemes are made to suit the needs of customers and
members. From 1991-1992, the bank is running in profit continuously.
This bank which is running in special grade class 1 from 2002 is aimed to
make the bank as super grade. Most of the members of the Karalam
Service Co-operative Banks are paddy farmers.

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Office of registrar of Co-operative societies, government of Kerala,
Trivandrum is the apex body in Kerala which control and monitor the Co-
operative sector in the state of Kerala. The Thrissur District Co-operative
bank is the financial supporter of this bank. The apex body decides the
rate of interest for deposits and advances, recovery of loans, security
measures guide lines for staff etc. KSEB in Co-operative sector is
following the directions given by apex body.

3.2 BOARD OF DIRECTORS

The Management of the affairs of the bank is vested with the board of
directors elected by the shareholders in the annual general meeting. The
board of directors consist of, 13 members elected from shareholders of
which one seat reserved for women and one for a member belonging to a
scheduled cast or a scheduled tribe. The term of board shall be for a
period of 5 years. The board of directors should meets once in a week to
conduct the affairs of the bank the quorum of the meeting will be 6. The
chairman should preside the meeting of the board. The chairman will
have overall control in the affairs of the bank. The employees of the bank
are under this control and supervision. The general manager is the
executive officer of the bank subject to the control of the chairman. Only
the “a”member can constitute the board of directors. The board of
members are,

 Mr. V. K. Bhaskaran (president)

 Prof. M. S. Viswanathan (vice president)
 Mrs. V. A. Asha (secretary in charge)
 Mr. T. G. Jayakumar (director)
 Mr. SajithKunnath (director)
 Mr. Roy George (director)
 Mr. K. V. Panchaman (director)
 Mr. V. S. Suneesh (director)
 Mr. Sunny Kundukulam (director)
 Mrs. Lalitha Teacher Kunjilikkattil (director)
 Mrs. VasumathiJayapraksh (director)

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  Mrs. SumadeviPrayil (director)
 Mr. PremanPonnari (director)

The board of directors should meet once in a month or any times if

necessary to conduct the affairs of the bank.

3.3 MEMBERSHIP
The resident in the bank’s area of operation, or permanent workers, land
owner, who is aged above 18 years and sound mind can be the member of
Co-operative Society. Deceased member can also be minor member but
the loans are allowed through their parent only. The State government
and District Bank can also subscribe the shares of the society. The
membership of a Co-operative Society is also opened for self-help
groups.

3.4 LIABILITY
The member liability to the bank’s liability will be double the value of
shares held by them.

3.5 OBJECTIVE OF THE KARALAM SERVICE CO-

OPERATIVE BANK
 Encourage unity, self-responsibility and mutual help among
members and develop and implement programs for it.
 To raise the funds by the way of deposit, loans, grants,
donating subsidies, etc.
 To grand short term, medium term and long term loans to its
members for productive purpose.
 To collect and provide seed, fertilizers, pesticides and
agricultural needs of agriculture.
 They lend money on security of the gold.
 Purchase and sale of bonds. Scripts and other type of securities
for transaction.

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  The bank tries to implement agricultural production scheme for
members.

3.6 ADMINISTRATION AND MANAGEMENT OF THE

BANK
Like other body corporate Karalam Service Co-operative Bank may also
be managed. This is accomplished by using the service of other people in
the society. As management of Co-operative society is done on
democratic basis. It is vested with the general body and managing
director.

3.7 GENERAL BODY

The general body is considered as the supreme authority or final authority
of Co-operative Bank. It is the organization of the bank. All members are
entitled to attend the general body meeting.

3.8 MANAGING COMMITTEE

As per section 28(1) the general body of the society shall constitute a
committee for a period not exceeding 5 years in accordance with the act,
rules and bye-law and entrust the management, the affairs of the society
to such committee shall not exceeding 15 in the case of primary society.

3.9 SERVICE PROVIDED BY KARALAM SERVICE CO-

OPERATIVE BANK LTD NO: 600
The Karalam Service Co-operative Bank provides both banking and non-
banking services to its members.

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Banking services provided by the bank:

1. Loans
 Gold loan
 Property mortgage loan (up to 2000000)
 Agriculture loan
 Business loan
 Vehicle loan
 Home loan
 Fertilizer, pesticides without interest
2. Deposits
The bank provides various deposit schemes to its members and non-
members, Attractive interest rate schemes and group deposit
schemes are available as a part of up gradation of super grade.
Deposit scheme provided by the bank:
 Fixed deposits
 Current deposits
 Recurring deposits
 Cash certificate
 Savings bank deposit

3. Core banking
The core banking facility has completed one year which is running
successfully from the date. Except membership and dividend all
other transaction can done through any of the branches.

4. MDS (Monthly Deposit Scheme)

a. 100% safety
b. Profitable than any other loan
c. The simplest of bail condition
d. No fees for registration of property bail
e. Gold also available
f. Money also given for no bail
g. Loan is available for those who get kuris
h. More interest is given to full time kuris
i. Money can deposit through all branches of bank
j. Daily collection facilities

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Non-banking services provided by the bank:

1. Neethi coconut processing unit

2. Neethi medical store
3. Fertilizers
4. Rubcos
5. Neethi gas
6. Kerala feeds
7. Neethi store consumer

Investment

Investment means the amount invested by the bank in other institutions.

The bank invested in their fund in,

 Government securities
 Debenture in land development banks
 Shares in other institution

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ORGANISATION STRUCTURE OF THE BANK

SECRETARY

ASSISTANT SECRETARY

CHIEF ACCOUNTANT

MANAGER

INTERNAL AUDITOR

ACCOUNTANT

SENIOR CLERK

JUNIOR CLERK

ATTENDER

PEON

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