Bombay Mercantile Co-Operative Bank LTD

TOPIC NAME :- AN ANALYTICAL STUDY OF BOMBAY MERCANTILE CO-OPERATIVE BANK LTD.
PAGE NO. 01
PROJECT ON
AN ANALYTICAL STUDY OF
BOMBAY MERCANTILE CO-OPERATIVE BANK LTD.
SUBMITTED BY
ANSARI MOHD OWAIS MOHAMMED ALI
M.COM PART II SEM 3
2023-24
SEAT NO:- 6540275
PROJECT GUIDE
PROF. SAMEER NAIK & PROF. YUSUF FAROOQUI
SUBMITTED TO
UNIVERSITY OF MUMBAI
Anjuman-I-Islam's
AKBAR PEERBHOY COLLEGE OF COMMERCE & ECONOMICS
M. S. ALI ROAD, DO TAAKI, GRANT ROAD,
MUMBAI - 400008.
NAME :- ANSARI MOHD OWAIS MOHAMMED ALI (ROLL NO. : 22) (BATCH NO:-2023-24)
PAGE NO. 02
Anjuman-I-Islam's
AKBAR PEERBHOY COLLEGE
OF COMMERCE & ECONOMICS
M. S. ALI ROAD, DO TAAKI, GRANT ROAD, MUMBAI-08.
CERTIFICATE
ANSARI MOHD OWAIS MOHAMMED ALI of M.COM 2 Semester III

has undertaken & completed the project work titled An AN ANALYTICAL
STUDY OF BOMBAY MERCANTILE CO-OPERATIVE BANK LTD.,
During the academic year 2023-2024 under the guidance of PROF. SAMEER
NAIK & PROF. YUSUF FAROOQUI submitted to this college in fulfillment
of the curriculum of Masters of Commerce (Advance Accountancy), University
of Mumbai.
This is a bonafide project work & the information presented is true and original
to the best of our knowledge and belief.
Project Course External Principal

Guide Co-Ordinator Examiner
PAGE NO. 03
Anjuman-I-Islam's
AKBAR PEERBHOY COLLEGE OF COMMERCE & ECONOMICS
M. S. ALI ROAD, DO TAAKI, GRANT ROAD
MUMBAI-08.
DECLARATION
I, ANSARI MOHD OWAIS MOHAMMED ALI student of Anjuman-I-Islam's

Akbar Peerbhoy College Of Commerce & Economics, M.COM (Part-II)
Semester III here by declare that I have completed the project on "AN
ANALYTICAL STUDY OF BOMBAY MERCANTILE CO-OPERATIVE
BANK LTD." in academic year 2023-2024.
The information submitted is true and original to the best of my knowledge.
_______________________
Signature of the Student
PAGE NO. 04
ACKNOWLEDGMENT
To list who all have helped me is difficult because they are so numerous and the
depth is so enormous.
I would like to acknowledge the following as being idealistic channels.
And fresh dimensions in the completion of this project.
I take this opportunity to thank the University of Mumbai forgiving me chance to

do this project.
I would like to thank my principal, Prof. Dr. Shaukat Ali for providing the
necessary facilities. required for completion of this project.
I take this opportunity to thank our Coordinator Prof. Dr. Anzar for his moral
support and guidance.
I would also like to express my sincere gratitude towards my project guide Prof.
Sameer Naik & PROF. YUSUF FAROOQUI and care made the project
successful.
I would like to thank my College Library, for having provided various reference
books and magazines related to my project.
Lastly, I would like to thank each and every person who directly or indirectly
helped me in the completion of the project especially my Parents and Peers who
supported me throughout my project.
PAGE NO. 05
CONTENTS
SR. NO. NAME OF THE CONCEPT PAGE NO.
01 INTRODUCTION 06
02 DIRECTORS EXECUTIVES OF BANKS 07-08
03 BOARD OF DIRECTORS 09
04 BOARD OF MANAGEMENT 10
05 EXECUTIVES OF THE BANK 10
06 SALES HEAD 10
07 BOMBAY MERCANTILE CO-OPERATIVE BANK LTD. FOOLS 11-13
PEOPLE BY CLAIMING THAT RBI LAUDED THE BANK
08 SAVING ACCOUNTS 14-16
09 CURRENT ACCOUNTS 17
10 INTERSET RATES 18-20
11 TERM LOANS 21-22
12 OTHERS LOANS 23
13 WORKING CAPITAL FACILITIES 24
14 GOLD LOAN 24-25
15 BULLED GOLD LOAN SCHEME 26
16 NRI HOME LOANS 26
17 BENEFITS 27
18 FINANCIAL DETAILS DOCUMENTS 28-31
19 SERVICES & REMITTANCEz REMITTANCE 31-34
20 FOREIGN EXCHANGE 34-36
21 ENTITLEMENT OF FOREIGN EXCHANGE 37-39
22 ATM SERVICES 39-41
23 OTHERS SEVICES 41-43
24 TYPES OF BANK 44-59
25 STATE-WISE NUMBER OF PACS 60-67
26 HISTORY & PROFILE OF THE BANK 68-71
27 SURVEY 71-78
PAGE NO. 06
INTRODUCTION
In the year 1939, a man of 60 years who was deeply concerned for the upliftment of downtrodden thought of
establishing a co-operative credit society to help these people and protect them from exploitation of money
lenders. This great visionary was Shaikh Mohammedally Allabaux, the founder chairman of the Bombay
Mercantile Co-Operative Bank Ltd. alongwith Padmashri Zain G. Rangoonwala established the Bank in the
year 1939, which in due course became the largest co-operative bank in the country and in Asia.
The bank created a good track record from its inception. A tiny sapling planted in 1939, became a full-
fledged urban co-operative bank in 1941. To widen its scope and give it a secular outlook the bank was
named Bombay Mercantile Co-operative Bank Limited in 1949 . From the beginning the bank has a policy
of helping petty businessman, vegetable vendors, taxi drivers, small shopkeepers, skilled craftsmen and
other weaker sections of the society.
Established with a profound commitment to financial excellence and community service, Bombay
Mercantile Bank has emerged as a cornerstone in India's banking sector. Founded in [year of establishment],
the bank has navigated through decades of economic evolution, maintaining a steadfast dedication to
meeting the diverse financial needs of its customers.
From its inception, Bombay Mercantile Bank has embodied the values of integrity, innovation, and customer
satisfaction. With a focus on inclusive banking, the institution has played a pivotal role in fostering
economic growth and stability in the regions it serves.
As a testament to its adaptability, the bank has embraced technological advancements, offering cutting-edge
digital banking solutions alongside its traditional services. This commitment to innovation positions
Bombay Mercantile Bank as a dynamic and customer-centric financial institution.
Driven by a vision to be a leader in the financial sector, Bombay Mercantile Bank continues to expand its
footprint while maintaining a strong connection to the communities it serves. This introduction provides a
glimpse into the rich history and forward-looking approach that defines Bombay Mercantile Bank in the
ever-evolving landscape of Indian banking.
PAGE NO. 07
DIRECTORS EXECUTIVES OF BANKS
Mr. Avan Kumar Singh

Accountant at Avan & Associates
Aligarh, Uttar Pradesh, India
About
Practising Chartered Accountant for last 23 years in Aligarh. Director of Bombay Mercantile Cooperative
Bank since 04th August, 2017. Co-opted Member of Research Committee of CIRC of ICAI. Chairman
Aligarh Branch of CIRC of ICAI for the term 2017-18. Executive Committee member of Aligarh Branch of
CIRC of ICAI for the term 2016-2019.........
Mr. Zeeshan Mehdi

Board Member, Bombay Mercantile Co-Operative Bank Ltd.
Age 50 years, Occupation The Chairman, Bombay Mercantile Co-operative Bank Ltd.,having
Address at 78, Mohammed ali Road, Mumbai - 400 003, Maharashtra.
PAGE NO. 08
Mr. Dr. M. Shah Alam Khan

Managing Director, Bombay Mercantile Co-Operative Bank Ltd.
PAGE NO. 09
BOARD OF DIRECTORS
 Mr. Faheem A. Ansari- (Chartered Accountant)

 Mr. Ata'ur Rehman- (Chartered Accountant)
 Mr. Nazre Alam Shaikh- Sr. Banker
 Mr. Anisul Haque (Advocate)
 Dr. Misbah Alam Khan (MBBS,DNB-Ortho)
 Mr. Mohammed Amir Naqvi (Advocate)
 Mr. Syed Ajaz Haider Rizvi (Sr. Journalist)
 Mr. Sarwat Ashfaq Khan (Engineer)
 Mr. Arshad Khan (Businessman)
 Mr. Manzoor Khan (Businessman)
 Mr. Salahuddin (Businessman)
 Mr. Azadar A. Rizvi (Social Activist)
 Mr. Shahid S. Shaikh (Businessman)
 Mr. Abid Hussain Patel (Businessman)
 Mr. D K Nalband (Addl. Director-RBI Nominee)
 Dr. M Shah Alam Khan (Managing Director-MA LLM. Ph.D-Law)
 Mr. Arshad Khan (Businessman)
 Mr. Manzoor Khan (Businessman)
 Mr. Salahuddin (Businessman)
 Mr. Azadar A. Rizvi (Social Activist)
 Mr. Shahid S. Shaikh (Businessman)
 Mr. Abid Hussain Patel (Businessman)
 Mr. D K Nalband (Addl. Director-RBI Nominee)
 Dr. M Shah Alam Khan (Managing Director-MA LLM. Ph.D-Law)
PAGE NO. 10
BOARD OF MANAGEMENT
 Mr. S. Hasan Iqbal Alvi (Chairman)
 Mr. Avan Kumar Singh
 Mr. Ata'ur Rehman
 Mr. Mohammed Amir Naqvi
 Mr. Syed Mohd. Ali Kazmi
 Mr. Syed Sharique Mahdi Rizvi
 Dr. M. Shah Alam Khan
EXECUTIVES OF THE BANK
 Mr. Amiruddin Mohiuddin Panhalkar (Jt. General Manager)

 Mr. Ibne Mohammed Zaidi (Deputy General Manager)
 Mr. Mohammed Arif Sherali Amiri (Deputy General Manager)
 Mr. Mohamed Ataullah Mohamed Abdullah Khan (Deputy General Manager)
 Mr. Nasimul HasanKhan Azim Khan Pathan (Deputy General Manager)
 Mr. Sadiq Hyderali Rupani (Asst. General Manager)
 Mr. Noor Mohamed Esmail Luyani (Asst. General Manager)
 Mr. Mustali Moizbhai Nandurbarwala (Asst. General Manager)
 Mr. Abuzar Saiyed Mahmud Rizvi (Asst. General Manager)
 Mr. Mohammed Salim Kasam Shaikh (Asst. General Manager)
 Mr. Ataur Rahman Abdul Rahman Kamil (Asst. General Manager)
 Mr. Abbas Kalam Khan (Asst. General Manager)
 Mr. Mohd Khalid Husain (Asst. General Manager)
 Mr. Raees Jamil Ahmed Khan (Asst. General Manager)
 Mr. Abbas Maulaey (Asst. General Manager)
SALES HEAD
 Dr. Mohammed Ali Daud (Asst. General Manager)
PAGE NO. 11
BOMBAY MERCANTILE CO-OPERATIVE BANK LTD. FOOLS

PEOPLE BY CLAIMING THAT RBI LAUDED THE BANK
The controversial Bombay Mercantile Cooperative Bank (BMCB), which has been mired in controversy for
decades has published an advertisement in Business Standard today, which claims, “Reserve Bank of India
(RBI) has expressed its satisfaction about the performance of the bank in its audit report and lauded the
efforts that are undertaken within the rules and regulations”.
BMC Bank’s brazen claim, in the wake of the massive fraud and stringent restrictions on Punjab and
Maharashtra Cooperative Bank (PMC Bank) have astonished bankers, since the RBI is not known to hand
out such certificates, especially in “audit” reports. A top central banker (now retired says), “Such assertions
are false misrepresentations and are downright dangerous for the consumers”.
Moneylife has messaged the image to RBI executive directors in charge of the urban banks department to
ask if the claim was true and if not, what action was being planned by it. As expected, there was no response
from the RBI.
Meanwhile, whistle-blowers of BMC Bank who had filed a public interest litigation (PIL) in the Bombay
High Court, say that this claim is completely false and they are in the process of filing a complaint against
the lender. It may be recalled in this case, an order by the Bombay HC, asking the Central Registrar of
Cooperative Societies did not led to any action to safeguard depositors.
PAGE NO. 12
BMCB, one of the oldest, multi-state minority cooperative banks, has faced only mild actions from the RBI
in the past. Such is the lethargy when it comes to their regulation and supervision that even letters from
members of parliament (MPs) leave regulators and the government unmoved.
Two MPs from Shiv Sena, Anand Rao Adsul and Gajanan Kirtikar, had written to the RBI and former
finance minister Arun Jaitley, and the central registrar, in August 2017 about BMC Bank.
In a letter to the RBI deputy governor on 16th August, Mr Kirtikar has expressed surprise at RBI’s lack of
action, when its own inquiry has established embezzlement of funds by the chairman Zeeshan Mehndi.
He had, among other things, drawn attention to two shell companies—Shah Traders and Universal
Enterprises, which were used to route loans to the directors. The same chairman has now issued the
advertisement claiming an endorsement by the RBI.
PAGE NO. 13
Here are some of the issues raised by whistleblowers inside the bank in their PIL:
 A Rs540-million bank guarantee given against six allegedly fake FD receipts of Rs90 million each;
 Loans sanctioned to those close to the directors have gone bad;
 Evergreening of bad loans by sanctioning fresh loans without security or fake documents;
 Sanction of loans by the managing director, without the board’s permission, far in excess of his power;
 Investment of Employees Provident Fund money in unlisted companies, violating norms PF norms;
 Illegal transfer of tenancy rights of the bank properties;
 No provision for gratuity and leave fare concessions in the balance sheet in some years, in order to show
cash profits;
 Bogus loans sanctioned against fake documents. These loans were then transferred to nationalised banks
and later classified as non-performing.
Moneylife has written to Bombay Mercantile Coop Bank seeking a response to our queries about the RBI
endorsement. If the bank replies, this article will be updated with details.
PAGE NO. 14
SAVING ACCOUNTS
 Saving Deposit Account can be opened in the name of an individual in his/her own name
 Two or more persons in their joint names can also open such an account, subject to KYC compliance as per RBI
guidelines
 An account can be opened with initial deposit of Rs. 1500/-
Present rate of interest on Savings Deposit is 2.0% p.a. paid on half yearly basis subject to RBI directives and guidelines.
(with effect from 1st October 2021).
Minimum balance
 An account can be opened with initial deposit of Rs. 1500/-
Save More
 Rs 2500/- for Saving Accounts with ATM card facility.
Non-maintenance balance
 Charges of Rs.200/- per quarter for regular and unclaimed accounts.
Other Savings Account Schemes
PAGE NO. 15
SB – NRE (Non Resident External) and SB - NRO(Non Resident Ordinary)
WHAT IS AN NRE ACCOUNT?

An NRE (Non-Resident External) Account is a savings account maintained in where you invest your foreign
income earned outside India.
WHAT IS AN NRO SAVING ACCOUNT?

An NRO (Non-Resident Ordinary) savings account is where you can maintain and manage your income
earned in India such as rent, dividends, pension etc.
 Term Deposits can be opened by individuals in his/her own name.

 Two or more persons in their joint names can also open such an account.
 Companies,Proprietorship concerns,Partnership firms,Association / Club / Societies / Trusts, etc. can
also open term deposits account, subject to KYC compliance as per RBI guidelines.
Interest rates are subject to revision from time to time for different periods.
PAGE NO. 16
Recurring Deposit Scheme

The interest rates on RDs depend on which category you fall under and your choice between different banks.
Senior citizens earn a higher rate of interest when compared to regular citizens. There are schemes offered to
minors, students and parents to save for the children. These schemes may carry higher rates of interest.
There are also special schemes devised to help people reach their goals. Your interest rates also depend on
the type of account you hold. A regular savings account will generally earn a higher rate of interest than an
NRE/NRO account. The current interest rates available from different banks range between 7% and 9.25%
per annum.
Minimum balance
An account can be opened with initial deposit of Rs. 1000/-
Save More
Non-maintenance balance
Charges of Rs.50/- per quarter for regular, dormant and unclaimed accounts.
PAGE NO. 17
CURRENT ACCOUNT
Minimum balance
Rs. 5,000/-
Minimum balance
Does not limit the number of transactions in a day.
Non- maintenance balance

Charges Rs.400/- per Quarter for regular and unclaimed accounts
PAGE NO. 18
INTEREST RATES
Rate of interest on loan & advances revised PLR : 14:00 % with effect from 9th December, 2022.
Circular 85/CAD/HO/779 dated 20th Dec 2022 Revised PLR : 14:00 % with effect from 20th December,
2022.
PAGE NO. 19
PAGE NO. 20
PAGE NO. 21
TERM LOANS
Rate of interest on loan & advances W.E.F. 1st may 2019 PLR 14%
Overdraft/Cash Credit
Both overdraft and cash credit are really forms of borrowing.
Term Loans
A term loan is a monetary loan that is repaid in regular payments over a set period of time.
Gold Loans
Flexible Schemes of Gold Loans / Loans against Ornaments
PAGE NO. 22
Housing Loans
BMC Bank's Housing Finance Scheme helps one realising the dream.
Vehicle Loans
Vehicle Loan Scheme at competitive rate of interest and easy r epayment terms.
Personal Loans
Personal loans from BMC Bank are quick, competitive and transparent.
Loans against Domestic Articles
BMC Bank provides loans against assets you own.
PAGE NO. 23
Education Loan
A meritorious student is never far away from their dream career, courtesy of BMC Bank’s education loans.
Loan against Term Deposits
The bank offers loan and overdraft against your Domestic, NRO, NRE and FCNR fixed deposits end with
BMC Bank.
OTHER LOANS
 The Bank has various types of Loan schemes and Credit facilities suitable to individuals, small
businessmen, traders, transport operators, etc.
 We have very competitive lending rates for the loans and advances against pledge of Govt. securities viz.
RBI Relief Bonds, National Savings Certificates (NSC's), Kisan Vikas Patra's etc. and assignment of
LIC policies.
CONSEQUENT UPON HIKE IN CRR AS WELL AS REPO RATES, IT HAS BEEN DECIDED TO
INCREASE OUR PRESENT PRIME LENDING RATE TO 14% WITH EFFECT FROM 1ST MAY, 2019.
 Personal Loans for Salaried Person

 Personal Loans for Purchase of Domestic Appliances
 Personal Loans – Others
PAGE NO. 24
 Loan against pledge of Gold Ornaments

 Loans Against NSC, KVP, and LIC
 Group Loans for Corporate Employees
WORKING CAPITAL FACILITIES

WE HAVE VERY COMPETITIVE LENDING RATES FOR THE LOANS AND ADVANCES AGAINST
PLEDGE OF GOVT. SECURITIES VIZ. RBI RELIEF BONDS, NATIONAL SAVINGS CERTIFICATES
( NSC'S), KISAN VIKAS PATRA'S ETC. AND ASSIGNMENT OF LIC POLICIES.
 The Bank has various types of Loan schemes and Credit facilities suitable to individuals, small
businessmen, traders, transport operators, etc.
 Bank considers overdraft for Retail Traders, SSI units, Medium sized and Large sized units,
Manufacturing units, Businessman on large scale in the form of Working Capital Facilities.
Our Prime Lending Rate is 14%.
 Overdraft Accouts for Working Capital

 Overdraft against Hypothication of Stock
 Overdraft against Hypothication of Book Debts
 Overdraft against Term Deposit of our Bank
 Overdraft against Pledge of Goods
GOLD LOAN
OVERDRAFT AGAINST GOLD ORNAMENTS
PAGE NO. 25
Eligibility:
 Permanent salaried individuals

 Self Employed
 Professionals & Businessmen
Permissible Amount:
 Minimum RS. 25,000/- and Maximum Rs.75,000/-
Period:
 One year, to be renewed there after
Amount of Loan Ag. Gold Ornaments
 Upto Rs. 5.00 lac

 Above Rs 5 lacs upto 25 lacs
 Above Rs 25 lacs upto 100 lacs
(As applicable subject to change by Head Office from time to time . Interest to be serviced regularly).
Margin:
 25 % of valuation.
Shareholding:
 Upto Rs. 1,00,000/- : Nominal Membership

 Above Rs.Rs. 1,00,000/- : Regular Membership with 2.5 % of the sanction amount subject to a
maximum of Rs.10,000/-
Processing Charges:
 Waived for the time being
PAGE NO. 26
BULLET GOLD LOAN SCHEME
Permissible Amount:
 Maximum Rs. 2,00,000/-.
(AS APPLICABLE subject to change by Head Office from time to time . Interest to be serviced regularly)
Interest will be charged to the account at monthly rests but will become due for payment along with
principal only at the end of 12 months from the date of sanction.
NRI HOME LOANS
ALL ESTEEMED NRIS, PLEASE PAY ATTENTION
Want To Buy Or Build A New Dream Home
We Provide A Loan Product Just For You.
PAGE NO. 27
BENEFITS
Bombay Mercantile Co. op. Bank Ltd. has a Loan Product just for you and we provides attractive interest
rates on a monthly reducing basis. Bombay Mercantile Co. op. Bank Ltd. provides part or full Payment
facility for zero fees.
Rate of Interest
10.50% p.a. on the balance loan outstanding
Processing Fees
UPTO RS. 25000/- NIL
RS. 25,0001/- TO RS. 50,000/- CHARGES RS.250/-
Rs. 50,001/- to Rs. 200,000/- Charges Rs.1000/-
RS 500,001/- TO 10,00,000/- CHARGES RS.5000/-
RS. 10,00,001/- AND ABOVE CHARGES 0.50% OF LOAN AMOUNT
Personal Documents Required
 passport size latest photograph of each applicant (applicant & co-applicant) with signature across
 Valid passport copies for all the applicants
 Valid visa copies for all the applicants
 The date must be in dd/mm/yyyy format
 Power of Attorney document as per our format duly signed by all the applicants
 Authority letter duly signed by all the applicants as per our specified format
 Company details as per our format Copy of current overseas residential verification proof of all the
applicants to the loan.
(Driving license or bank statement showing overseas address or latest insurance premium receipt or utility
bill)
PAGE NO. 28
 Copy of PAN Card for the Ist applicant OR Form 60 as per our format attached here with self attested
address proof of all applicants.
FINANCIAL DETAILS DOCUMENTS (For Salaried Individuals)
Financial documents
Personal Guarantors
Membership
Repayment
 Tax Challans for last three years.

 Copy of current appointment letter OR Copy of salary certificate clearly mentioning the date of joining,
current salary earned and designation held in the company
 Last 3 months salary slip for fixed salary and last 4 months for variable salary
 Last 6 months bank statements clearly mentioning salary credits in the account
 Financial details documents: for self employed individuals Copy
 Copy of Incorporation of business
 Business profile and office address proof for satisfying KYC norms, income proof
You can open an S.B. NRE OR S.B. NRO A/C and avail housing loan through your Registered Power
Of Attorney too.
PROCEDURE FOR OPENING S.B. NRE OR SB NRO A/C:
PAGE NO. 29
Who is NRI?
An Indian Citizen who stays abroad for employment/carrying on a business or vocation outside India, or
stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-
resident. Non-resident foreign citizens of Indian Origin are treated on par with non- resident Indian citizen
(NRIs).
Person can have Indian origin, if,
 He/she, at any time, held an Indian passport, or

 Parents or any of his grandparents hold Indian citizenship
An NRI can make the following investments in India.
 Maintain bank accounts in India.

 Invest in securities/shares, and deposits with Indian firms/companies
 Invest in immovable properties in India.
You must be familiar with terms like NRE account, NRO account, NRE account, NRO account, SBI NRI
account, ICICI NRI Account, HDFC NRI Account. Yet, it is likely that you are still confused on how to
invest money in India. This article explains the type of bank accounts available for NRIs.
Types of Non-Resident Bank Accounts
 Ordinary Non-Resident Accounts in Rupees [NRO]

 Non-Resident (External) Accounts in Rupees [NR(E)]
 Foreign Currency (Non-Resident) Account (Bank) Scheme [FCNR(B)]
 Non-Resident Non-Repatriable Rupee Account [NR(NR)]
Ordinary Non-Resident Accounts in Rupees [NRO]:
As the name suggests, it's an Ordinary Non-Resident Accounts in Rupees, also known as NRO account. The
existing accounts of any Indian National can be designated as Ordinary Non-Resident Accounts, upon your
NRI status, or these accounts can also be opened with initial deposits paid into any bank or post office.
PAGE NO. 30
(saving a/c) authorized to open Non-Resident accounts. NRO account can be of any type: saving, current or
Fixed Deposit. Interest payable on NRO accounts is the same as on resident accounts. They vary from bank
to bank as they have been freed from RBI regulation. You can also have a joint account with residents in
India. NRO accounts may be re-designated as resident accounts when the account holder becomes a resident
in India. Disadvantages of NRO:
 Interest earned on balances in NRO Accounts is not exempted from Indian Income tax. Instead income
tax is deducted at source (TDS) i.e. at the time of payment of interest by the bank.
 Balance held in NRO account can neither be repatriated. No remittance in foreign currency is allowed
without prior approval of Reserve Bank as well. So overall, the money stays 'as is' in India.
NRE Accounts NON-RESIDENT (EXTERNAL) ACCOUNTS:
The rates of interest on term deposit kept under NR(E) are generally higher than the rates of interest on NRO
deposits. The following highlights some of the key features of NRE accounts.
 No income Tax.
 No joint account with an Indian residence
 Non-Resident account holders can grant a power of attorney or such other authority to any residents in
India for operating their NR(E) Accounts in India. Such authority is however, restricted to withdrawals
for local payments. The attorney holder cannot repatriate funds held in accounts outside India under any
circumstances or make payment of gifts on behalf of the account holder
 The rates of interest payable on NR(E) accounts are subject to change from time to time as per directions
issued from Reserve Bank of India.
An eligible Non-Resident Indian can open an account with any RBI approved authorized bank.
TIPS
 The NRO account can't be converted into NRE. Also funds can't be transferred from NRO to NRE
account without a special permission from RBI and proof of all existing funds required, which is a
complex procedure than opening a new NRE account.

 The entire credit balance (inclusive of interest earned thereon) can be repatriated outside India at any
time without any reference to Reserve Bank of India.


PAGE NO. 31
Once you go back to India for good and become an Indian resident, NRE account can be converted into your
normal Resident Rupee Account.
DOCUMENTS REQUIRED
 Duly filled and signed Account opening form

 2 passport size latest photographs
 Copy/ies of Passport and Residence Visa/ID Card/PIO Card
 Copy/ies of any of Utility bills viz. fixed telephone/electricity bill, gas bill, water bill or council tax bill
not older than three months. These utilities bills may be issued in your favour showing either your
present residence abroad OR your permanent address in India
 For opening account, initial foreign inward remittance to be sent by:
 Demand Draft /Mail Transfer in Foreign currency/INR

 Cashier’s Cheque/Personal Cheque in Foreign Currency/INR
 SWIFT/Wire/Telegraphic Transfer
 Foreign Currency/Traveller Cheques
 Indian Address proof (Not Mandatory)
SERVICES & REMITTANCz REMITTANCE

 Issue of Demand Draft
 Issue of Pay Order
 Outward bills for collection/Inward bills for collection
 Mail Transfer
 Telegraphic Transfer
 Electronic Fund Transfer (EFT) through RBI Network
 Electronic Clearing System (ECS) through RBI Network
PAGE NO. 32
RATE OF INTEREST ON LOAN & ADVANCES w.e.f. 1st May 2019 PLR 14%
AREA OF SER AREA OF SERVICESES CHARGES

DEMAND DRAFT / MAIL TRANSFER
Upto Rs. 1,000/- Charges Rs. 30/-
LRs 1001/- to Rs.5,000/- Charges Rs. 35/-
Rs 5001/- to Rs.10,000/- Charges Rs. 50/-
Above Rs.10,000/- Rs. 50.00 per thousand, subject to a Maximum of Rs.
7,500/- 50% more charges than the normal will be
levied, if the remittance is made against cash on
behalf of our customers.
200% charges than the normal will be levied if the

remittance is made against cash on behalf of non
customers provided a copy of PAN Card is submitted
and compliance of KYC norms. (Branch officials
should see that RBI & IT guidelines are strictly
followed)
A concession of 50% in the present service charges

for issuance of demand draft exceeding Rs.10,000/-
on any of our Bank's branches (including cheques
issued on other banks by us under specific
arrangement made for this purpose) For-Current
Account Holder who is maintaining minimum
deposit of Rs.1,00,000/- in his current account during
the last quarter and continues to maintain during the
current quarter.
The aforesaid incentive may also be allowed to the

borrower, who is enjoying
TELEGRAPHIC TRANSFER
Charges DD Charges + 15% over the actual facsimile charges.
PAGE NO. 33
ISSUANCE OF DUPLICATE DRAFT

Upto Rs. 1,000/- Rs.20/-per draft + Incidental Charges.
Above Rs.1,000/- and upto Rs.5,000/- Rs.40/-per draft + Incidental charges
Above Rs.5,000 Revalidation / Cancellation of Rs.60/- per draft + Incidental charges.
Demand Draft :
Upto Rs.10,000/- Rs.22/- per draft in either case.
> Rs.10,000/- Rs.33/- per draft in either case.

BANKERS CHEQUE / PAYORDER
Upto Rs. 1,000/- Charges Rs. 30/-
Rs.1,000/- and upto Rs.5,000/- Charges Rs. 35/-
Rs.5,000/- and upto Rs.10,000/- Charges Rs. 50/-
Rs.10,000/- Rs.1/- per thousand/- 50% more charges than the
normal will be levied, if the remittance is made
against cash on behalf of our customers.
200% charges than the normal will be levied if the

remittance is made against cash on behalf of non
customers provided a copy of PAN Card is
submitted. and compliance of KYC norms.
25% concession in commission will be allowed to

current account holder who is maintaining minimum
deposit of Rs.1.00 lac in his current account during
current quarter
Revalidation or Cancellation 50% concession in commission will be allowed to
current account holder who is maintaining minimum
deposit of Rs.2.00 lacs in his current account during
current quarter
Issue of duplicate Banker's cheque/pay order Facility of issuance of pay orders free of charge will
be allowed to current account holder who is
PAGE NO. 34
maintaining minimum deposit of Rs.5.00 lacs in his

current account during the last quarter and continues
to maintain during the current quarter.
Upto Rs.5,000/- Rs.22/- per draft
Rs.5000/- Rs.33/- per draft
Upto Rs.1000/- Rs.20/- > Rs.1000/- to Rs.5000/-

Rs.40/-
Rs.5000/- Rs.60/-
FOREIGN EXCHANGE
BRANCHES IN MAHARASHTRA, GUJARAT, NEW DELHI, UTTAR PRADESH, ANDHRA
PRADESH,RAJASTHAN, MADHYA PRADESH, BIHAR, JAMMU & KASHMIR AND WEST

BENGAL
 FUND BASED FACILITIES
 SERVICE FOR EXPORTERS
 EXPORT CREDIT FACILITIES
The Bombay Mercantile Co-op. Bank Ltd. offers Fund-based export credit facilities by way of:
It is a workng capital advance in the form of Packing Credit Loan for facilitating the Exporter clients in
executing export orders on time.
PAGE NO. 35
The Packing Credit Loan facility is disbursed in :
 Indian Rupees
 At concesstional rate of interest
Post-shipment Export Finance:
This is also working capital facility offered in the form of:
 Foreign Bills Purchase and
 Foreign Bills Negotiation under L/C
 Advance against Export bills sent on collection
 The Foreign Bills Purchase and Foreign Bills Negotiation under L/C facilities are also disbursed in
 Indian Rupees
 At concessional rate of interest
EXPORT CREDIT FACILITIES

Export letters of credit received by us in exporter client's favour is advised promptly. The exporter client
may instruct their Overseas Buyers to utilise our services for faster advising of export letters of credit. Our
Bank also ensures prompt advising of amendment to the export letter of credit.
EXPORT BILLS ON COLLECTION BASIS
BMCB handles export bills on collection basis accurately and speedily. Documents are despatched for
collection within 24 hours. Handling of export bills are subject to UCPDC/URC, FEMA Rules.
IMPORT CREDIT FACILITIES
The Bank offers Non Fund-based credit facilities by way of:

Import Letter of Credit Limit on D/P (Sight) as well as on Usance.
 The Bank opens / establishes Import Letter of Credit in major permitted currencies in favour of Overseas
Suppliers globally.
PAGE NO. 36
 Letter of Credits are advised through major International Banks.

 Arrangement is also made to add confirmation of Advising Bank to the Letter of Credit on request.
 Any change in Letter of Credit, can be made with the consent of all the parties subsequent to opening /
establishing of Letter of Credit, by way of Amendments.
 Reimbursement is readily provided to the Negotiating Bank as per L/C terms.
 Similarly Inland Letters of Credit are also established.
 Issuing Performance, Bid-Bond and other guarantee on behalf of Indian Exporters.
We have arrangements for issuance of International guarantees on account of exporters of goods and
services.
Import Bill Received for Collection
 We also handle import bills received on collection basis sent by Overseas Suppliers through a Bank
on the basis of documents against payment or on acceptance.
 We also have extensive global correspondent network for effecting payments against documents
received directly by Importers, subject to FEMA.
AHMEDABAD BRANCH
Chota Chand Suraj Estate,
Khanpur Road,
Ahmedabad 380 001
NEW DELHI BRANCH
36 Netaji Subhash Marg,

Darya Ganj,
New Delhi 110 002
PAGE NO. 37
KOLKATA BRANCH
1-B Circus Row, Park Circus,

Kolkata 700 017.
HYDERABAD BRANCH
5-5-489, Hussaini Bldg., Complex,

Moazam Jahi Market Road,
Hyderabad 500 001.
MORADABAD BRANCH
35, Prince Road,

Moradabad 244001.
Entitlement of Foreign Exchange without prior approval of RBI for

following purposes:
PURPOSE FOREIGN EXCHANGE
Business/Participationin International Upto USD.25,000/- per trip

Conference/Seminars/Specialised training
Private Visit Upto USD.10,000/- or its equivalent in one calendar year

for one or more visits to any country except Nepal &
Bhutan.
Employment abroad Not exceeding USD.1,00,000/-
Emigration Not exceeding USD.1,00,000/-
Higher Education Upto the estimate given by an Institution abroad or

USD.1,00,000/- per academic year, whichever is higher.
PAGE NO. 38
Medical Treatment / Hospitalisation abroad Upto to estimate given by the Doctors in India for
Hospitalisation/Doctors abroad or upto USD.1,00,000/- or its
equivalent.
Maintenance expenses of a patient going USD.25,000/- each for the patient

abroad for treatment/checkup & for
attaining higher education abroad
Other Services
 Facilities to cover exchange rate risks
 Collection of export bills
 Foreign Currency Accounts for exporters e.g. Exchange Earners Foreign Currency &
 Remittances of Agency Commission, Freight etc.,
N.B. Transactions undertaken strictly in conformity with the Norms prevailing under FEMA. BOMBAY
MERCANTILE CO.OP. BANK LTD. FOREIGN EXCHANGE DEPT. MUMBAI
OUR STANDARD SETTLEMENTS INSTRUCTIONS FOR FOREX DEALS W.E.F. 01st November
2017
Sr. No. Currency Our Correspondent / Location Account No. / Iban No.
1). CHF Habib Bank AG Zurich, A/c No.20110-1-237756,

Zurich Switzerland IBAN-
CH320878900114001237756
2). EUR Habib Bank AG Zurich, A/c No.20110-974-237756,
Zurich Switzerland IBAN-CH7608789114974237756
3). SAR The National Commercial Bank, A/c No. 55535174000105,
Jeddah Kingdom of Saudi Arabia IBAN-
SA7710000055535174000105
4). USD Habib American Bank, Chips UID 091908, FW 026007362,
New York, NY USA A/c No.20729228
PAGE NO. 39
ATM SERVICES
Onsite ATMs
MAULANA AZAD ROAD BRANCH (Metro)
Patel & Soni Arcade

Maulana Azad Road, Mumbai – 400 008.
KURLA BRANCH (Metro)
Kanakia Zillion, Shop No.14,

Next to Bus Depot, L.B.S. Marg,
Kurla (West), Mumbai – 400 070
Head Office Branch (Mumbai) (Metro)
89, Mohamedali Road, Mumbai – 400 003
BHIWANDI BRANCH (Non-Metro)
38, Kotergate,
Bhiwandi – 421 302
SOLAPUR BRANCH (Non Metro)
131, Siddeshwar Peth

Civil Chowk
Solapur – 413 001.
PAGE NO. 40
AURANGABAD BRANCH (Non Metro)
Juna Bazar Chowk,

Aurangabad-431 001
NEW DELHI BRANCH (Metro)
36, Netaji Subhash Marg,

Darya Ganj
New Delhi – 110 002.
JAIPUR BRANCH (Non Metro)
Dhanna Mansion, H/19, Subhash Marg, 'C' Scheme,

M. I. Road, Jaipur – 302 001.
AJMER BRANCH (Non Metro)
125/30, Sitaram Bazar, KaizerGunj,

Ajmer – 305 001.
PUNE BRANCH (Non Metro)
17, Mahatma Gandhi Road,

Pune – 411 001
PAGE NO. 41
OTHER SERVICES
Safe Deposit Lockers
For the safety of your valuables, we offer safe deposit locker facility.
Issue of Bank Guarantee
Avail bank guarantees easily with simple documentation & low tutnaround time.
Issue of Letter of Credit - Inland and Foreign
Get better control over your receivables and cash flow management.
Issue of Solvency Certificate
Solvency certificate to an individual or a firm on the basis of property.
PAGE NO. 42
Franking of Documents
Franking is stamp a mark to indicate that amount has been paid.
MEANING OF BANK
Bank is a financial institution and a financial intermediary that accepts deposits and channels
those deposits into lending activities, either directly or through capital markets. A bank connects customers.
That have capital deficits to customers with capital surpluses. The term bank is derived from the French
word Bunco which means a Bench or Money exchange table. In olden days, European money lenders or
money changers used to display (show) coins of different countries in big heaps (quantity) on benches or
tables for the purpose of lending or exchanging.
FEATURES
Dealing in Money:
Bank is a financial institution which deals with other people's money i.e. money given by depositors.
Individual / Firm / Company:
A bank may be a person, firm or a company. A banking company means a company which is in the business
of banking.
 Acceptance of Deposit:
A bank accepts money from the people in the form of deposits which are usually repayable on demand or
after the expiry of a fixed period. It gives safety to the deposits of its customers. It also acts as a custodian of
funds of its customers.
PAGE NO. 43
 Giving Advances:
A bank lends out money in the form of loans to those who require it for different purposes.
 Payment and Withdrawal:
A bank provides easy payment and withdrawal facility to its customers in the form of cheques and
drafts; it also brings bank money in circulation. This money is in the form of cheques, drafts, etc.
 Agency and Utility Services:
A bank provides various banking facilities to its customers. They include general utility services
and agency services
 Profit and Service Orientation:
A bank is a profit seeking institution having service oriented approach.
 Ever increasing Functions:
Banking is an evolutionary concept. There is continuous expansion and diversification as regards the
functions, services and activities of a bank.
PAGE NO. 44
Types of Bank
Commercial Bank
As per the commercial bank definition, it is a financial institution whose purpose is to accept deposits from
people and provide loans and other facilities. Commercial banks provide basic services of banking to their
customers and small to medium-sized businesses.
What is Commercial bank?
A commercial bank is a financial institution that provides services like loans, certificates of deposits, savings
bank accounts bank overdrafts, etc. to its customers. These institutions make money by lending loans to
individuals and earning interest on loans. Various types of loans given by a commercial bank are business
PAGE NO. 45
loans, car loans, house loans, personal loans, and education loans.
They give out these loans from the money deposited by their customers in different types of accounts. They
use the deposits as capital for providing loans. Commercial banks are essential for the economy of a country
because they help in creating capital, credit as well as liquidity in the market. These banks are generally
physically located in cities but these days there are online banks are growing in numbers.
How commercial bank works?
Commercial banks offer basic services of banking to the public including individual customers as well as
small and medium-sized businesses. Money is made by banks by charging for services and fees. The fees
depend on the products given such as overdraft fees, fees for safe deposit boxes, late fees, etc. Various loans
also consist of fees other than interest on loans.
Banks earn money by giving out loans and for that purpose they use funds from customer deposits. They
charge higher interest rates on loans they give out and comparatively less rate of interest on the amount they
get as deposits from their customers. For e.g., a bank may provide a 0.30 per cent rate of interest on savings
account to its customers but charges a 4.8 per cent rate of interest annually for home loans.
Generally, commercial banks are situated in buildings where their customers come for using ATM machines
and other banker window facilities. As internet technology has risen in recent years, most banks allow
customers to do most services online. People can now make money transfers, deposits or make payments for
bills online.
Importance of commercial banks
Commercial banks are essential for the economy because they create liquidity in the market and create
capital besides providing their customers with essential services. Banks make sure liquidity in the market by
lending out loans from the deposits of their customers.
What is commercial bank?
According to the commercial bank definition, it is a financial institution whose purpose is to accept deposits
from customers and lend out loans.
PAGE NO. 46
What is commercial bank?
According to the commercial bank definition, it is a financial institution whose purpose is to accept deposits
from customers and lend out loans.
What is commercial bank types?

Public sector banks, private sector banks, and regional rural banks are the types of commercial banks.
What is commercial bank functions?

The basic functions are accepting deposits, lending out loans, transfer of money, and discounting bills of
exchange.
Why are commercial banks important?

Commercial banks are important because they help in creating liquidity in the market.
Function of Commercial Bank:
The functions of commercial banks are classified into two main divisions.
(a) Primary functions
Accepts deposit : The bank takes deposits in the form of saving, current, and fixed deposits. The surplus
balances collected from the firm and individuals are lent to the temporary requirements of the commercial
transactions.
Provides loan and advances : Another critical function of this bank is to offer loans and advances to
the entrepreneurs and business people, and collect interest. For every bank, it is the primary source of
making profits. In this process, a bank retains a small number of deposits as a reserve and offers (lends) the
remaining amount to the borrowers in demand loans, overdraft, cash credit, short-run loans, and more such
banks.
PAGE NO. 47
Credit cash: When a customer is provided with credit or loan, they are not provided with liquid cash. First,
a bank account is opened for the customer and then the money is transferred to the account. This process
allows the bank to create money.
(b) Secondary functions
Discounting bills of exchange: It is a written agreement acknowledging the amount of money to be paid
against the goods purchased at a given point of time in the future. The amount can also be cleared before the
quoted time through a discounting method of a commercial bank.
Overdraft facility: It is an advance given to a customer by keeping the current account to overdraw up to
the given limit.
Purchasing and selling of the securities: The bank offers you with the facility of selling and buying the
securities.
Locker facilities: A bank provides locker facilities to the customers to keep their valuables or documents
safely. The banks charge a minimum of an annual fee for this service.
Paying and gathering the credit : It uses different instruments like a promissory note, cheques, and Bill of
exchange
Types of Commercial Banks:
There are three different types of commercial banks.
Private bank : It is a type of commercial banks where private individuals and businesses own a majority of
the share capital. All private banks are recorded as companies with limited liability. Such as Housing
Development Finance Corporation (HDFC) Bank, Industrial Credit and Investment Corporation of India
(ICICI) Bank, Yes Bank, and more such banks.
Public bank : It is a type of bank that is nationalised, and the government holds a significant stake. For
example, Bank of Baroda, State Bank of India (SBI), Dena Bank, Corporation Bank, and Punjab National
Bank.
PAGE NO. 48
Foreign bank : These banks are established in foreign countries and have branches in other countries. For
instance, American Express Bank, Hong Kong and Shanghai Banking Corporation (HSBC), Standard &
Chartered Bank, Citibank, and more such banks.
You might also want to know:
Examples of Commercial Banks
Few examples of commercial banks in India are as follows:
1. State Bank of India (SBI)
2. Housing Development Finance Corporation (HDFC) Bank
3. Industrial Credit and Investment Corporation of India (ICICI) Bank
4. Dena Bank
5. Corporation Bank
This was all about the ‘Functions of Commercial Banks’ that is elucidated in detail for commerce students.
Co-operative bank
A co-operative bank is a small-sized, financial entity, where its members are the owners and customers of
the Bank. They are regulated by the Reserve Bank of India (RBI) and are registered under the States
Cooperative Societies Act.
The Co-operative Banks have recently been in news after RBI’s restrictions on one of the leadingbanks,
where they were denied any kind of money withdrawal. This incident of the Punjab and Maharashtra Co-
operative Bank (PMC) has raised questions over the reliability of such financial entities.
In this article, we shall discuss the history, structure, benefits, and disadvantages of Co-operative Banks in
India. To know more about the different Types of Bank in India, visit the linked article.
PAGE NO. 49
Co-operative Banking in India
The Co-operative Banks in India are governed as per the Banking Regulations Act 1949 and Banking Laws
(Co-operative Societies) Act, 1955.
These Banks have been opened with the motto of ‘no-profit-no-loss’ and thus, do not seek for profitable
ventures and customers only. As the name suggests, the main objective of Co-operative Banks is mutual
help.
Given below are a few important features of Co-operative Banking in India:
 They work on the principle of ‘one person, one vote’. Since these banks are owned by the members, a
Board of Directors is chosen democratically and then they are responsible for controlling the
Organisation
 Farmers can avail agricultural loans on minimum interest rates from the Co-operative Banks
 Providing easy and accessible loans and credit benefits in the rural areas with scarce banking facilities.
The annual profit earned is spent on financial reserves and required resources and a part of it is
distributed among the Co-operative members, as per the prescribed limitations.
These institutions play a critical role in last-mile credit delivery and in extending financial services across the length
and breadth of the country through their geographic and demographic outreach.
Structure of Co-operative Banks
PAGE NO. 50
The structure of a Co-operative Bank is given in the image below:
The image below is as per the annual report released by the Reserve Bank of India in March 2019. Of
the total number of Cooperative Banks in India, they can be divided into two types, which can further
be subdivided:
 Urban Co-operative Banks

 Non-Scheduled UCBs
 Scheduled UCBs
 Rural Co-operative Banks
 State Cooperative Banks
 District Central Cooperative Banks
 Primary Agricultural Credit Societies
Single-state UCBs are regulated by State Registrars of Co-operative Societies (RCS) and multi-state UCBs
are governed by Central Registrar of Co-operative Societies (CRCS).
PAGE NO. 51
History of Co-operative Banks
The introduction of Co-operative Banks in India dates back to the early 20th century, which was a time of
distress for the Indian society.
A timeline as to how the co-operative banking emerged in India has been given below:
 The Cooperative Credit Societies Act, 1904, was the first step taken for the co-operative society, which
got accelerated with the introduction of the Cooperative Societies Act of 1912
 In post-independent India, Central Committee for Cooperative Training (1953) was set up by RBI for
establishing co-operative training centres
 To solve the issue of the financial crisis in the rural areas, Rural Credit Survey Committee was set up
1954
 This co-operative movement spread through the banking sector as well and by 1950s, Co-operative
Banks had started extending their reach to the public in both rural and urban areas
The Urban Co-operative bank is a type of co-operative bank. Below is a discussion on what urban co-
operative banks are and also their significance.
Co-operative banks are financial elements laid out on a co-operative premise and having a place with their
individuals. The clients of a co-operatives bank are additionally its proprietors. These banks in India are
separated into two classes – urban banks and rural.
The primary co-operative banks located in urban and semi-urban areas are known as an Urban co-operative
bank or UCB. Until 1996, these banks were simply allowed to loan cash for purposes other than agricultural
purposes. This differentiation is presently not legitimate today. Customarily, these banks were focused on
networks, areas, and work environment gatherings. They fundamentally gave advances to little borrowers
and organizations. Their extent of activities has extended essentially from that point forward.
PAGE NO. 52
What is an Urban Co-operative bank?
Urban co-operative banks allude to the primary co-operative banks in semi-urban and urban regions. These
financing bodies are basically for private ventures, enterprises, and finance for home buys and education. To
operate as an Urban co-operative bank, urban Primary credit societies (PCSs) that meet specific criteria can
apply to the RBI for obtaining a banking license.
UCBs are registered and governed by the Banking Regulation Act of 1949 as well as the respective state’s
co-operative societies acts. Hence, UCBs are dependent upon dual regulatory control. The RBI somewhat
directs urban banks. The RBI represents their financial tasks, which lays out capital adequacy, risk
management, and loaning norms.
In case of an emergency, their administration and goals are administered by the Registrar of Co-operative
Societies, who works for either the state or the central government. UCBs with reserves of more than Rs. 50
crore are likewise allowed to work in more than one state, depending upon specific circumstances. In
addition, they have specific privileges and commitments since they are covered by the RBI Act, 1934 (2nd
Schedule) – rights to acquire refinance and credits from the RBI and commitments, for example, keeping up
with cash reserves, submitting returns to the RBI, etc. The Shivalik Mercantile Co-operative Bank Limited is
the first UCB to be conceded ‘in-principle’ authorization by the Reserve Bank of India to change over into a
Small Finance Bank (SFB).
Historical Perspective of UCBs
 The urban co-operative bank movement originated in India in the late nineteenth century. In India, these
societies were established due to the success of the co-operative movement in Germany and Britain.
 The co-operative societies were founded in India on the principles of mutual aid, open membership, and
democratic decision-making.
 In 1889, Anyonya Sahakari Mandali was founded in the princely state of Baroda. It was the first known
mutual aid society in India and was established under the leadership of Vithal Laxman.
PAGE NO. 53
 The early stages included the development of urban co-operative credit societies formed based on
community, these community based societies were established to meet the demands of consumption-
oriented credit
 The salary earner’s societies popularized this movement significantly by helping labor and middle class
people
 The co-operative Credit Societies Act, passed in 1904, propelled the movement even more and in
October 1904, in Canjeevaram (now Kanjivaram), the first urban co-operative credit society was
founded
 On January 23, 1906, Vithaldas Thackersey and Lallubhai Samaldas established one of the most
prominent early credit societies- the Bombay Urban Co-operative Credit Society
 In 1912, the Cooperative Credit Societies Act of 1904 was amended to permit the formation of non-
credit societies
 Formed in 1915, the Maclagan Committee was assigned to review the performance of Cooperative
Credit Societies and find and suggest ways to improve their working.
Significance of Urban banks
1. An urban co-operative bank is fundamentally confined to finance specialist co-ops that have been in
operation for over a century. Their specialty is taking care of the lower working class and individuals
with restricted assets, as well as independently employed and small businesses.
2. These banks assume a significant part in activating stores and supporting the little borrower area, which
incorporates limited scope ventures, experts, retailers, etc.
3. These banks are also playing a crucial role in providing assistance to people in rural areas.
4. Over the years, trust has been built in the UCBs. Therefore, these models can be easily replicated.
Conclusion
From the day of its start till today, the primary co-operative bank, Urban Co-Operative bank, has been
developed to a surprising extent. The popularizing movement of UCBs has been accepted across the country
to prepare investment funds from the center and low-pay urban gatherings and to give credit to their
individuals, a considerable lot of whom had a place with the weaker segments.
PAGE NO. 54
State Cooperative Banks
State Cooperative Banks are the highest-level cooperative banks in each of the states. They raise funds and
assist in their proper distribution among various sectors.
Individual borrowers receive funds from state cooperative banks via central cooperative
banks and primary credit societies. All-State Apex Cooperative Banks in India have their own national
federation, the National Federation of State Cooperative Banks, which was founded in 1967 in Mumbai.
State Cooperative Bank?
The Maclagan Committee emphasised the importance of establishing these banks, recommending the
establishment of a provincial cooperative bank capable of attracting deposits from the urban classes and
channelling them to the agricultural sector via district central banks.
State cooperative banks are the apex institutions in the state's three-tier cooperative credit structure.
There is a state cooperative bank in every state.
They serve as a conduit through which the Reserve Bank of India lends to cooperatives and thus participates
in rural finance.
They serve as balancing centres for central cooperative banks by making available surplus funds from
some central cooperative banks.
They finance, control, and supervise the central cooperative banks and, through them, the primary credit
societies.
Central cooperative banks are not permitted to borrow or lend among themselves.
Working capital is obtained by state cooperative banks from their own funds, deposits, borrowings, and
other sources.
PAGE NO. 55
State cooperative banks are primarily concerned with providing loans and advances to cooperative societies.
State Cooperative Bank – Significance
Each state has a State Cooperative Bank that oversees the progress and performance of cooperative credit
institutions on a state-by-state basis.
It is an apex institution tasked with guiding the cooperative movement under the overall direction of the
State Government.
Their relationships with the Central Cooperative Banks operating at the district level are similar to the
Central Banks' relationships with the Primary Societies.
State cooperative banks make loans and subsidies to Central Cooperative Banks, inspect them, and act as
their banker.
They raise funds from public deposits, share capital, and loans from state governments, the Reserve Bank of
India, the State Bank of India, and other commercial banks.
They alsoassistvarious cooperative organisations in forming alliances, financing the supply and distribution
of essential commodities, and so on.
State Cooperative Bank – Limitations
 There have been instances where few societies have made large advances to primary credit societies and
later on recovery has become a serious problem.
 Overdue have been piling up for a variety of reasons.
 Credit limits for central co-operative banks have not been carefully set.
 The state cooperative banks are also dealing with a number of other issues.
Conclusion
State cooperative banks are primarily concerned with giving loans and advances to cooperative societies.
More than 98% of loans are granted to these societies, with approximately 75% of them being for a short
period of time. The majority of loans are given for agricultural purposes.
PAGE NO. 56
Central cooperative banks
Central cooperative banks are private banks established with the objective of providing loans to
cooperatives, individuals and others.You can read about the List of Co-operative Banks in India.
Co-operative sector industries are operated and owned and by the suppliers or producers of raw materials,
workers or both. Cooperative movement in India gained a lot of impetus after Independence. Cooperative
movement was encouraged in every village of India.
List of Cooperatives in India
Some of the most popular and important cooperatives in India are listed below.
1. Amul
2. Kerala Co-operative Milk Marketing Federation
3. Karnataka Milk Federation(KMF)
4. Indian Farmers Fertiliser Cooperative Limited
5. Indian Coffee House
6. Horticultural Producers’ Cooperative Marketing and Processing Society
Cooperative Societies – Types in India

Cooperative societies expanded from the farming sector to other sectors in India. Different types of
Cooperative societies are given below.
Farming Cooperative Society
1. Producer Cooperative Society

2. Marketing Cooperative Society
3. Consumer Cooperative Societies
4. Housing Cooperative Societies
5. Credit Cooperative Societies
PAGE NO. 57
Producer Cooperative Society
1. AMUL Dairy is an excellent example of a Producer cooperative society.

2. General public, non-members, members are buyers of the product.
3. There are no middlemen, direct relationships are established between producer and consumer.
Farming Cooperative Society
For consolidating, the farmers put in the capital for fertilizers, seeds, farming equipment, etc
Consumer Cooperative Society
As the name suggests, this type of cooperative societies are formed by consumers.
Marketing Cooperative Society
Sugarcane, Vegetables, Fruits, Cotton cooperatives are the largest marketing cooperatives and they have the
highest demand.
This type of cooperative society assists farmers in selling and marketing their produce, profitably.
Housing Cooperative Society
This cooperative society helps its members to own a house in large cities and urban areas.
Credit Cooperative Society
This type of cooperative society provides short term loans on a low rate of interest to its members
PAGE NO. 58
Characteristics of Cooperative Societies
1. Profits gets distributed

2. Reduced financial risk
3. It is mutually beneficial to members of low and middle income groups.
4. Its formation and participation of members is voluntary by nature
5. The Government of India recognizes cooperative societies as an independent body.
6. Audits are performed in cooperative societies, hence it is managed professionally.
7. There are managing committees in cooperative societies, members are elected democratically
Amul – GCMMF
1. It is an Indian dairy cooperative society.

2. Amul – GCMMF is headquartered in Anand, Gujarat.
3. Amul was established in 1946.
4. Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF) is the cooperative body which manages
the brand of Amul.
5. GCMMF is currently owned by apex body of 13 District Milk Unions, (3.6 million) milk producers in
Gujarat, spread across 13,000 villages of Gujarat.
6. India is the world’s largest producer of milk, this was the achievement of White Revolution in India,
which was spurred by AMUL.
7. Dr Verghese Kurien is known as the father of White Revolution. He was the chairman of GCMMF for
more than 30 years.
PACS in cooperative bank?
Primary Agricultural Credit Societies are the grass root level arms of the short-term co-operative credit
structure. PACS deals directly with the rural (agricultural) borrowers, give those loans and collect
repayments of loans given and also undertake distribution and marketing functions.
PAGE NO. 59
Primary Agricultural Credit Societies are the grass root level arms of the short-term co-operative credit
structure. PACS deals directly with the rural (agricultural) borrowers, give those loans and collect
repayments of loans given and also undertake distribution and marketing functions.
They occupy a predominant position in the co-operative credit structure and form its base. It serves as the
final link between the ultimate borrowers on the one hand and the higher financing agencies, namely the
Scheduled Commercial Banks, and the RBI/NABARD on the other hand.
Organisational Structure of PACS
 General Body of PACS: Exercise the control over board as well as management.
 Management Committee: Elected by the general body to perform the work as prescribed by the society’s
rules, acts, and by-laws.
 Chairman, Vice-Chairman, and Secretary: Work for the benefit of the members by performing their roles
and duties as assigned to them.
Office Staff: Responsible for performing day to day work.
Significance of Primary Agriculture Credit Society
 For the uninitiated, a PACS is the first building block of the century-old cooperative banking system of
India.
 PACS can play a colossal role, in bringing farmer communities closer to credit, inputs, market and value
addition.
 No commercial bank branch can ever come close to providing the kind of services a Primary Agriculture
Credit Society (PACS) can.
 PACS can also play a major role by integrating its warehouse with the physical and financial supply
chain of agro-commodities in the upcoming Garmin Agriculture Markets (GrAMs) or large warehouses
in the private sector.
PAGE NO. 60
Strengthening of Primary Agriculture Cooperative Credit Societies (PACS)
The strengthening of Primary Agriculture Credit Societies (PACS) refers to the process of enhancing the
capacity, efficiency, and effectiveness of these cooperative institutions that will be providing multiple
services to the farmers and rural agricultural communities, apart from credit and financial services.
By strengthening Primary Agriculture Credit Societies, governments and stakeholders aim to improve the
overall state of agriculture, uplift rural communities, and promote inclusive economic growth. These efforts
can contribute to poverty reduction, food security, and sustainable development in agrarian economies.
STATE-WISE NUMBER OF PACS
State 2020 2023
Northern region 11558 16,431
Chandigarh 16 117
Haryana 640 1213
Himachal Pradesh 2117 4,166
Jammu & Kashmir 765 620
Punjab 1609 3,543
Rajasthan 6411 6,472
North-Eastern region 3500 3,396
PAGE NO. 61
Arunachal Pradesh 34 34
Assam 766 766
Manipur 232 90
Meghalaya 179 179
Mizoram 133 164
Nagaland 1719 1,719
Sikkim 169 176
Tripura 268 268
Eastern region 19,421 18,620
Andaman & Nicobar Islands 46 51
Bihar 8463 8,463
Jharkhand 498 n.a.
Odisha 2452 2,701
West Bengal 7962 7,405
Central region 15357 15,478
PAGE NO. 62
Chhattisgarh 1213 1,333
Madhya Pradesh 4457 4,457
Uttarakhand 759 759
Uttar Pradesh 8929 8,929
Western region 29633 29,797
Goa 77 81
Gujarat 8154 8,535
Maharashtra 21402 21,181
Southern region 14525 14,516
Andhra Pradesh 2058 1,818
Karnataka 4740 4799
Kerala 1566 5,679
Puducherry 53 1,647
Tamil Nadu 4538 4450
Telangana 906 906
PAGE NO. 63
All India 93995 99,635
Advantages of Co-operative Banks
The Co-operative banks have acted as a boon to various sectors of Indian society and also played an
important role in the development of the economy.
Given below are a few advantages of the Co-operative Banks in India:
 These banks have provided aid to the rural population by granting loans and credits with interest rates,
lower in comparison to that asked by local money lenders
 They have their reach at every corner of the country and have managed to maintain a personal rapport
with the customers
 Since the bank is owned and governed by the members themselves, they do not seek huge profits and
believe in mutual help
 The interest rate on deposits is high and on loans is low
 They promote productive borrowing, in order to reduce the risk of loss
 Co-operative Banks have helped the farmers by providing them agricultural credits to buy basic
products like fertilizer, seeds, etc.
Disadvantages of Co-operative Banks
Discussed below are a few disadvantages of the Co-operative Banks in India:
 To lend money, they need investors which are tough to find.
 Over the years, the number of NPAs and overdues have been increasing.
 Since the lack of investors and money, few of them have not been delivering the credits and money to
the rural population.
PAGE NO. 64
 Rather than small industrialists, the benefits from Co-operative Banks have been enjoyed by rich.
landowners
 The Co-operative Banks across the country are not equally developed. A few states have more
functioning and beneficial units, while some states have faced loss.
 Political interference has also been observed in these banks.
 With new types of banks opening up, the Co-operative Banks are facing the risk of losing their
customers.
To overcome this loss, the RBI must take up steps regarding audit facilities and implementation of strict
rules must be followed.
Co-operative Banks – Key Points
Given below are a few points of takeaway to understand the Co-operative Banking in India even better.
 Based on the current situation of the Co-operative Banks in India the regulating body, RBI, under the
guidance of former Deputy Governor of RBI, R. Gandhi has decided to merge few co-operative banks
with small financial banks.
 It has also been advised that a special committee must be assigned only to monitor the proper
functioning of these financial entities.
 With PMC Bank coming under the radar of RBI, other co-operative banks need to gain back the
confidence of the common public to invest and borrow from them.
 Strict rules, as followed by other banks, must be implemented in this case as well, to reduce the risk
factor.
The information regarding the Indian Co-operative Banks and their development over the years has been
explained well in detail in this article.
Types of Bank Accounts
Bank accounts serve as the cornerstone of modern financial systems, offering individuals and businesses a
secure and convenient way to manage their money. From saving for the future to conducting everyday
transactions, bank accounts play a crucial role in facilitating economic activities. In this article, we
PAGE NO. 65
explore the importance of bank accounts and delve into the different types of accounts available to cater to
diverse financial needs.
Types of Bank Accounts
Banking institutions offer various types of accounts, each designed to fulfil specific financial objectives.
Let’s explore some of the most common types of bank accounts:
1. Savings Account
A Savings Account is one of the most common types of bank accounts, primarily used for saving money.
It offers a safe place to deposit funds while providing easy accessibility. Savings accounts usually earn
interest on the deposited amount, helping account holders grow their savings over time. These accounts
often have no or minimal transactional restrictions, allowing the deposit and withdrawal of funds as
required. However, some banks may require a minimum balance to be maintained to avoid charges.
Savings accounts are suitable for emergency funds, short-term goals, or general-purpose savings.
PAGE NO. 66
2. Current Account
A Current Account, also known as a transactional account, is typically utilized by businesses and
individuals with frequent financial transactions. This type of account allows unlimited transactions,
including deposits, withdrawals, and transfers. Current accounts provide features such as checkbooks,
debit cards, and online banking facilities, enabling easy management of day-to-day financial activities.
Unlike savings accounts, current accounts generally do not earn interest on deposits. They are ideal for
business transactions, paying bills, and facilitating regular monetary exchanges.
3. Recurring Deposit Account
A Recurring Deposit (RD) Account is designed for individuals who want to save a fixed amount regularly
over a specified period. RD accounts allow account holders to deposit a fixed sum of money on a monthly
basis, typically for a predetermined tenure. These accounts often offer attractive interest rates, similar to
fixed deposit accounts. At the end of the tenure, the accumulated amount, along with the interest earned, is
returned to the account holder. RD accounts are useful for individuals who want to cultivate a disciplined
savings habit and earn interest on their regular deposits.
4. Fixed Deposit Account
A Fixed Deposit (FD) Account is a popular investment instrument that allows individuals to deposit a
lump sum amount for a fixed period, known as tenure. FD accounts offer higher interest rates than savings
accounts and provide a guaranteed return on the investment. The interest rate remains fixed for the entire
tenure, ensuring a predictable growth of funds. However, premature withdrawals from FD accounts may
attract penalties or lower interest rates. Fixed Deposit accounts are suitable for individuals with surplus
funds looking for a low-risk investment option.
5. Salary Account
A Salary Account is a type of bank account specifically designed for employees to receive their
salaries. It is offered by banks in collaboration with employers, who deposit the employees’
salaries directly into these accounts. Salary accounts typically come with several benefits, such as
zero or minimum balance requirements, free or discounted services, and access to various banking
PAGE NO. 67
facilities. They offer a convenient way for employees to manage their salary funds and conduct
financial transactions. While salary accounts serve as a means to receive salaries, individuals may
convert them into regular savings or current accounts based on their preferences and banking
needs.
6. DEMAT Account
A DEMAT (Dematerialized) Account is specifically meant for electronically holding and trading
securities. This account eliminates the need for physical share certificates by converting them into
electronic records. DEMAT accounts facilitate the easy buying and selling of stocks, mutual funds, bonds,
and other securities in the digital format. These accounts are linked to the individual’s bank account and
provide a seamless integration for transactions related to investments in the stock market.
7. NRI Account
NRI (Non-Residential Indian) Accounts are designed for individuals who reside outside their home
country but wish to maintain financial connections and conduct banking activities in their home country.
NRI accounts can be of various types, such as NRE (Non-Residential External) Account, NRO (Non-
Residential Ordinary) Account, and FCNR (Foreign Currency Non-Resident) Account.
 NRE Accounts:
NRE accounts are denominated in Indian Rupees and allow account holders to maintain and manage their
foreign income in India. Funds in NRE accounts are freely repatriable, meaning they can be transferred
back to the account holder’s foreign country without any restrictions. Interest earned on NRE accounts is
tax-free in India.
 NRO Account:
NRO Accounts are also denominated in India Rupees and are primarily used for managing income earned
in India, such as rent, dividends, or pension. The funds in NRO accounts have limited reparability, subject
to certain conditions. Interest earned on NRO accounts is taxable in India.
 FCNR Account:
FCNR accounts allow NRLs to hold and manage foreign currency in India. These accounts are maintained
in major international currencies such as USD, GBP, EUR, etc. The funds in FCNR accounts are fully
reparable, and the interest earned is tax-free in India.
PAGE NO. 68
NRI accounts provide NRIs with the flexibility to manage their finances in India, including investments,
remittances, and transactions related to their Indian assets.
HISTORY & PROFILE OF THE BANK
In the world of banking, which operates on trust Bombay Mercantile Co-operative Bank Ltd., as an
institution since it's inception in 1939 has created a niche in terms of credibility with the trust of over one
million patrons and over 190,000 share holders.Bank has contributed towards socio-economic development
of the people in many ways.
The bank created a good track record from its inception. A tiny sapling planted in 1939, became a full-
fledged urban co-operative bank in 1941. To widen its scope and give it a secular outlook the bank was
named Bombay Mercantile Co-operative Bank Limited in 1949 . From the beginning the bank has a policy
of helping petty businessman, vegetable vendors, taxi drivers, small shopkeepers, skilled craftsmen and
other weaker sections of the society.
THE BANK HAS PRESENTLY 52 BRANCHES IN THE FOLLOWING STATES
Including Head Office and two extension counters at Srinagar and Nanded respectively:
Maharashtra Mumbai (23 Branches) Aurangabad (4 Branches) Bhiwandi, Nanded,

Pune, Sholapur & Malegaon
Gujarat Ahmedabad (3 Branches) Surat, Baroda & Palanpur.
Delhi New Delhi
Uttar Pradesh Aligarh, Lucknow, Moradabad & Varanasi.
Jammu & Kashmir Srinagar
Rajasthan Ajmer, Jaipur & Jodhpur
PAGE NO. 69
Andhra Pradesh Hyderabad
Madhya Pradesh Bhopal
Bihar Patna
West Bengal Kolkata
To serve the lady members of the Society the Bank has opened branches exclusively managed by lady
members of the staff at Khara Tank, Mumbai and another at Aurangabad.
Bombay Mercantile Co.operative Bank Ltd. prides itself of the fact that it has grown with its customers.
Many of yester years small borrowers are today's corporate and business houses. Bank has been and will
remain a poor man's bank committed to the cause of their upliftment. The bank has worked on the
philosophy of providing financial assistance with strong social conscience.
The Bank's focus on customer service and solutions tailored to clients, individual needs at all level have
attracted more and more customers. Bombay Mercantile Co.operative Bank Ltd. offers attractive loan
schemes for special section of society - for small business, self employed, transports, weaker sections,
professionals, artisans, water transport operators, taxi / auto rickshaw drivers, tailors, barbers etc. Loans are
given for Housing, Vehicle, consumer durables, loans to salaried employees, export / import finance, loans
against gold ornaments, education loan for acquiring higher education both in India and abroad. The Bank
also offers several corporate banking facilities, including LCs, trade guarantees, Foreign Exchange, working
capital finance etc and franking of documents.
Co.operative Societies Act

Bank is recognised under the Multi-State Co.operative Societies Act and is authorised to extend it's area of
operations to the whole of India. It was the first co.operative bank to provide credit for purchasing taxis.
Again it is the first Scheduled Urban Co.operative Bank, which has introduced Micro - Financing Scheme
for women artisans in Weaker Sections at Hyderabad and Lucknow.
PAGE NO. 70
First Co-operative bank

First Co-operative Bank to be granted the Scheduled status in the year 1988 by the Reserve Bank of India
(RBI).
The Bank takes modest pride in being the first Co-operative Bank to have been given the A Category
dealership license authorized by the RBI to deal in Foreign Exchange business. The Bank is in the forefront
among Indian Banks in financing the country's exports. The Bank also extends all the Banking services to
the Non-Resident Indians.
First Co-operative Bank authorized to commence operations in more than one state.
First Co-operative bank to provide taxi/ auto loans
First Scheduled Urban Co-operative Bank which introduced Micro - Financing Scheme for women artisans
in Weaker Sections at Hyderabad and Lucknow etc.
Future Road Map
To meet the challenges being faced by the banking industry especially Co-Operative Banks, the bank has
geared itself by reorganizing its structure by decentralizing power to speed up decision making in all spheres
of customer service. For this purpose, the bank is working towards Total Automation including digitization.
Key Initiatives towards Digitization are as follows:
 Mobile Banking(IMPS/UPI)
 Net Banking(IMPS/UPI)
 Self –Service Kiosks
 Tab Banking
 ATMs
 Aadhaar Enabled payment System
The bank is slowly and steadily increasing its Micro Financing Scheme for artisans, craftsmen and self
employed from the weaker sections of society at important craft centres. The focus will be on weavers, brass
artisans, chikan and zari workers, carpenters, etc.
PAGE NO. 71
Even in the era of new age banking and stiff competition, the bank has and will always retain it's focus on
small depositors and small borrowers. Bombay Mercantile Co.operative Bank Ltd. takes its commitment
towards the welfare of the society very seriously. The aim of harnessing the country's savings and utilising
them to improve the life of the common man has been the Bank's vision for the past seven decades and will
continue well into this millennium.
I HAVE DONE A SURVEY OF MY TOPIC WHICH IS
AN ANALYTICAL STUDY OF BOMBAY MERCANTILE
CO-OPERATIVE BANK LTD. TROUGH GOOGLE FORMS.
I Am Giving A Review In Next Some Pages :
Questions:-
1) Your Age
 10 To 20
 21 To 30
 31 To 40
 41 and Above
 Others
PAGE NO. 72
Interpretation :- From the above diagram, we can say that 21.9% of 10 To 20, 56.3% of 21 To 30,
5.1% of 31 To 40, 12.5% of 41 and Above, 4.2% of Others.
2) Do You Have A Bank Account
 Yes
 No
 Others
Interpretation :- From the above diagram, we can say that 81.3% of claims were accepted while
18.8% don't.
PAGE NO. 73
3) Which Bank Do You Have an Account ?
Interpretation :- From the above diagram, we can say that 3.4% of BOM, 6.92% Bank of India,
3.4% I don’t have any account, 3.4% of HDFC Bank, 10.3% of Kotak Mahindra Bank, 3.4% of
ICICI Bank, 13.8% of Paytm Payment Bank. 3.4% of SBI Bank, 10.3% of Union Bank.
4) What types of bank service do you like ?
 Public Bank
 Foreign Bank
 Private Bank
 Others
PAGE NO. 74
Interpretation :- From the above diagram, we can say that 46.9% of Public Bank & 53.1%
Private Bank.
5) What Types Of Account Do You Have ?
 Saving Account
 Current Account
 Fixed Deposit Account
 Recurring Account
 Others
Interpretation :- From the above diagram, we can say that 81.3% of Saving Account, 12.5% Current
Account.
PAGE NO. 75
6) How Often Do You Visit Your Bank Physical branch ?
 Regular
 Once in a 1 Month
 Once in a Year
 Others
Interpretation :- From the above diagram, we can say that 25.8% of Once in a year, 32.3% Once in a
1 month, 16.1% of Once in a 6 Month, 9.7% of Once in a 3 month.
7) Have You ever Used Online Banking Services ?
 Yes
 No
 Maybe
PAGE NO. 76
Interpretation :- From the above diagram, we can say that 84.4% of Yes, 9.4% of No.
8) What Types Of Transactions Do You Most Frequently Use ?
 UPI
 NEFT
 RTGS
 Demand Draft
 Others
PAGE NO. 77
Interpretation :- From the above diagram, we can say that 93.5% of UPI, 3.25% of Demand Draft,
3.25% of none.
9) Have You Ever Faced Any Bank Scam?
 No
 Yes
Interpretation :- From the above diagram, we can say that 80.6% of Yes, 19.4% of No.
PAGE NO. 78
10) How Satisfied Are You With The Customer Service of Your Bank Ratting Out Of 1 To 10.
Interpretation :- From the above diagram, we can say that 10.7% of State Bank of India.

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TOPIC NAME :- AN ANALYTICAL STUDY OF BOMBAY MERCANTILE CO-OPERATIVE BANK LTD.

BOMBAY MERCANTILE CO-OPERATIVE BANK LTD.

ANSARI MOHD OWAIS MOHAMMED ALI of M.COM 2 Semester III

Project Course External Principal

AKBAR PEERBHOY COLLEGE OF COMMERCE & ECONOMICS

M. S. ALI ROAD, DO TAAKI, GRANT ROAD

I, ANSARI MOHD OWAIS MOHAMMED ALI student of Anjuman-I-Islam's

The information submitted is true and original to the best of my knowledge.

I would like to acknowledge the following as being idealistic channels.

And fresh dimensions in the completion of this project.

I take this opportunity to thank the University of Mumbai forgiving me chance to

DIRECTORS EXECUTIVES OF BANKS

Mr. Avan Kumar Singh

Aligarh, Uttar Pradesh, India

Mr. Zeeshan Mehdi

Mr. Dr. M. Shah Alam Khan

 Mr. Faheem A. Ansari- (Chartered Accountant)

EXECUTIVES OF THE BANK

 Mr. Amiruddin Mohiuddin Panhalkar (Jt. General Manager)

BOMBAY MERCANTILE CO-OPERATIVE BANK LTD. FOOLS

Other Savings Account Schemes

SB – NRE (Non Resident External) and SB - NRO(Non Resident Ordinary)

WHAT IS AN NRE ACCOUNT?

WHAT IS AN NRO SAVING ACCOUNT?

 Term Deposits can be opened by individuals in his/her own name.

Recurring Deposit Scheme

Non- maintenance balance

Both overdraft and cash credit are really forms of borrowing.

Flexible Schemes of Gold Loans / Loans against Ornaments

Loans against Domestic Articles

BMC Bank provides loans against assets you own.

Loan against Term Deposits

 Personal Loans for Salaried Person

 Loan against pledge of Gold Ornaments

WORKING CAPITAL FACILITIES

Our Prime Lending Rate is 14%.

 Overdraft Accouts for Working Capital

 Permanent salaried individuals

 Minimum RS. 25,000/- and Maximum Rs.75,000/-

 One year, to be renewed there after

Amount of Loan Ag. Gold Ornaments

 Upto Rs. 5.00 lac

 Upto Rs. 1,00,000/- : Nominal Membership

 Waived for the time being

BULLET GOLD LOAN SCHEME

 Maximum Rs. 2,00,000/-.

NRI HOME LOANS

ALL ESTEEMED NRIS, PLEASE PAY ATTENTION

Want To Buy Or Build A New Dream Home

We Provide A Loan Product Just For You.

10.50% p.a. on the balance loan outstanding

Personal Documents Required

FINANCIAL DETAILS DOCUMENTS (For Salaried Individuals)

 Tax Challans for last three years.

PROCEDURE FOR OPENING S.B. NRE OR SB NRO A/C:

Person can have Indian origin, if,

 He/she, at any time, held an Indian passport, or

An NRI can make the following investments in India.

 Maintain bank accounts in India.

Types of Non-Resident Bank Accounts

 Ordinary Non-Resident Accounts in Rupees [NRO]

Ordinary Non-Resident Accounts in Rupees [NRO]:

NRE Accounts NON-RESIDENT (EXTERNAL) ACCOUNTS: