MIRA INFORM REPORT

Report Date :

19.06.2012

IDENTIFICATION DETAILS

Name :	THE BHARAT CO-OPERATIVE BANK (MUMBAI) LIMITED

Registered Office :	“Mohan Terrace”, 64/72, Mody Street, Fort, Mumbai – 400001, Maharashtra

Country :	India

Financials (as on) :	31.03.2012

Date of Incorporation :	09.06.1977

Registration No.:	Bom/Bank/138

Capital Investment / Paid-up Capital :	Rs.715.857 Millions

Legal Form :	Co-Operative Bank

Line of Business :	Subject is engaged in providing a wide range of banking and financial services.

No. of Employees :	842 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (62)

RATING

STATUS

PROPOSED CREDIT LINE

56-70

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

Fairly Large

Maximum Credit Limit :	USD 14000000

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

Comments :	Subject is an established bank having fine track. Financially bank is doing well. Fundamentally it is healthy and strong. Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitments. The bank can be considered for normal business dealing at usual trade terms and conditions.

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office/ Service Branch :	“Mohan Terrace”, 64/72, Mody Street, Fort, Mumbai – 400001, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
Website :	http://www.bharatbank.com

Central Office :	“Marutagiri”, Plot No.19/9A, Sonawala Road, Goregaon (East), Mumbai – 400063, Maharashtra, India
Tel. No.:	91-22-26857777/ 61890000

Branch Office in Maharashtra State :	Located at: · Andheri (East) · Andheri (West) · Bandra · Bhandup · Bhandup Village Road · Bhayander · Bhiwandi · Borivli (West) · Chembur · Chinchwad · Dadar (West) · Dahisar (East) · Dombivli (East) · Fort (Main) · Ghatkopar (West) · Ghansoli · Ghodbunder · Goregaon (East) · Goregaon (West) · Govandi · Jogeshwari · Kalina · Kalwa · Kalyan · Kandivli (East) · Kandivli (West) · Lamington Road(East) · Malad (West) · Mira Road (East) · Mulund (East) · Panvel · Pune · Santacruz (West) · Thane (West) · Vasai (West) · Vashi · Vile Parle (East)

Branch Office in Karnataka State :	Located at: · Hampankatta (Mangalore) · Indiranagar (Bangalore) · Jayanagar (Bangalore) · K.H. Road (Bangalore) · Malleswaram (Bangalore) · Moodbidri (Mangalore) · Peenya (Bangalore) · Puttur · Suratkal · Udupi

DIRECTORS

(AS ON 31.03.2012)

Name :	Mr. Vasudeva R. Kotian
Designation :	Chairman

Name :	Mrs. Rohini J. Salian
Designation :	Vice Chairperson

Name :	Mr. C. R. Mulky
Designation :	Managing Director

Name :	Mr. Jaya C. Suvarna
Designation :	Director

Name :	Mr. M. B. Kuckian
Designation :	Director

Name :	Mrs. Pushpalatha N. Salian
Designation :	Director

Name :	Mr. L. V. Amin
Designation :	Director

Name :	Mr. Raja V. Salian
Designation :	Director

Name :	Mr. Jyoti K. Suvarna
Designation :	Director

Name :	Mr. M. B. Sanil
Designation :	Director

Name :	Mr. Y. Nagesh
Designation :	Director

Name :	Mr. Shekar M. Kotian
Designation :	Director

Name :	Mr. Mohan G. Poojary
Designation :	Director

Name :	Mr. Chandrashekar S. Poojari
Designation :	Director

Name :	Mr. Shankar D. Poojary
Designation :	Director

Name :	Mr. J. V. Kotian
Designation :	Director

Name :	Mr. N. Nityanand
Designation :	Director

Name :	Mr. Bhaskar M. Salian
Designation :	Director

Name :	Mr. Ratan Umesh Sanil
Designation :	Director

Name :	Mr. Rohit M. Suvarna
Designation :	Director

Name :	Mr. K. N. Suvarna
Designation :	Director

Name :	Mr. Jaya A. Kotian
Designation :	Director

KEY EXECUTIVES

Name :	Mr. C. R. Mulky
Designation :	Chief Executive Officer

EXECUTIVE COMMITTEE:	Mr. Vasudeva R. Kotian, Chairman Mrs. Rohini J. Salian, Member Mr. Jaya C. Suvarna, Member Mr. M. B. Kuckian, Member Mrs. Pushpalatha N. Salian, Member Mr. Raja V. Salian, Member Mr. K. N. Suvarna, Member Mr. Jaya A. Kotian, Member

LOAN COMMITTEE :	Mr. Jyoti K. Suvarna, Chairman Mr. M. B. Sanil, Member Mr. K. N. Suvarna, Member Mr. Jaya A. Kotian, Member

AUDIT & INSPECTION COMMITTEE :	Mr. L. V. Amin, Chairman Mr. M. B. Sanil, Member Mr. Y. Nagesh, Member Mr. Mohan G. Poojary, Member Mr. J. V. Kotian, Member Mr. Ratan Umesh Sanil, Member Mr. Rohit M. Suvarna, Member

LEGAL A DEBT RECOVERY COMMITTEE :	Mr. Raja V. Salian, Chairman Mr. Jyoti K. Suvarna, Member Mr. Shankar D.Poojary, Member Mr. Chandrashekar S. Poojari, Member Mr. Bhaskar M. Salian, Member Mr. N. Nityanand, Member

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

NOT AVAILABLE

BUSINESS DETAILS

Line of Business :

Subject is engaged in providing a wide range of banking and financial services.

GENERAL INFORMATION

No. of Employees :

842 (Approximately)

Bankers :

· The Reserve Bank of India

· State Bank of India

· Maharashtra State Co-operative Bank Limited

· Mumbai District Central Co-operative Bank Limited

· South Canara District Central Co-operative Bank Limited

Facilities :

Borrowings	31.03.2012	31.03.2011
	(Rs. In Millions)

Refinance from National Housing Bank	843.800	1076.200

Total	843.800	1076.200


Banking Relations :	--

Auditors :
Name :	U. G. Devi and Company Chartered Accountant

CAPITAL STRUCTURE

(AS ON 31.03.2012)

Authorised Capital :

No. of Shares	Type	Value	Amount

100000000	Equity Shares	Rs.10/- each	Rs.1000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

71585651	Equity Shares	Rs.10/- each	Rs.715.857 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

LIABILITIES	31.03.2012	31.03.2011

Capital	715.857	717.356
Reserve Fund and Other Reserves	2889.089	2470.351
Deposits and Other Accounts	40007.924	31961.433
Borrowings	843.800	1076.200
Bills for collection	1156.694	363.449
Overdue Interests Reserve	230.626	252.840
Interest Payable	126.027	105.143
Other Liabilities	1187.063	744.131
Profit and Loss Account	651.903	479.954

TOTAL	47808.983	38170.857

ASSETS

Cash	2027.366	2077.173
Balance with other Banks	1870.711	1247.053
Money at Call and Short Notice	699.079	400.000
Investment	11400.679	9063.386
Advances	9624.719	7268.769
Medium Term Loans of which secured against	4389.776	3748.703
Long Term Loan of which secured against	14230.189	12112.447
Interest Receivables	498.277	388.608
Interests Receivable On N. P. A.	230.626	252.840
Bills Receivable	1156.694	363.449
Branch Adjustments	0.024	0.000
Premises	700.196	624.225
Vehicles	4.345	1.385
Library Account	0.007	0.008
Furniture and Fixture	147.237	110.386
Computer Software	6.030	3.565
Other Assets	823.028	508.860

TOTAL	47808.983	38170.857

PROFIT & LOSS ACCOUNT4

	PARTICULARS	31.03.2012	31.03.2011
	INCOME
	Interest earned on Loans and Advances	3467.243	2556.707
	Interest earned on Investments	913.061	719.315
	Commission, Exchange & Brokerage	141.151	97.890
	Rent on Safe Deposit Lockers	12.292	9.912
	Profit on Sale of Securities (Net)	49.972	44.313
	Other Receipts:	120.536	93.535
	Provision for BDDR Written back	13.073	0.000
	Bad debts earlier written off now recovered	0.351	2.067
Less	TOTAL	4717.679	3523.739

	EXPENDITURE
	Interest on Deposits and Borrowings	2775.719	1910.982
	Salaries and Allowances, Provident Fund Contribution, Gratuity and Bonus etc.	486.933	437.851
	Directors' and Local committee Members Fees and Allowances	0.695	1.254
	Rent, Taxes, Insurance and Lighting	142.803	122.280
	Legal Charges and Expenses	1.422	0.752
	Postage, Telegram and Telephone charges	7.684	6.728
	Audit Fees (Statutory, Internal and Concurrent Auditors)	8.316	5.733
	Depreciation / Amortisation on Assets	90.676	82.139
	Repairs and Maintenance	22.196	20.489
	Printing, Stationery and Advertisement	20.232	16.356
	Other Expenditure	108.462	74.768
	Amortisation of Investment	22.250	26.973
	Depreciation on Shifting of Investments	15.717	16.140
	Bad Debts Written-Off	13.073	0.000
	Provisions:
	Prov. For Depreciation on Investments	56.151	37.753
	Dividend Equalization Fund	1.000	1.000
	Contingent provision against Standard Assets	21.500	20.000
	Bad & Doubtful Debt Reserve	35.000	65.000
	TOTAL	3829.829	2846.198

	PROFIT BEFORE TAX	887.850	677.541

Less	TAX	292.177	235.365

	PROFIT AFTER TAX	595.673	442.176

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)

Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	No
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	No
No. of Employees	Yes
Name of Person Contacted	No
Designation of Contact person	No
Turnover of Firm for last two years	Yes
Profitability for last two years	Yes
Reasons for variation <> 20%	-----
Estimation for coming financial year	No
Capital in the business	Yes
Details of sister concerns	No
Major Suppliers	No
Major Customers	No
Payments Terms	No
Export/ Imports Details (If applicable)	No
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	Yes
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	No

------------------------------------------------------------------------------------------------------------------------------

ECONOMIC SCENARIO

While the year began on an optimistic note, concerns on sustainability of the high growth phase had surfaced by the end of F.Y.2010-11 itself. During previous Financial Year there were many challenges staring at Indian economy coupled with a hope of improvement in world economy. But reality turned out to be different. The sovereign debt crisis in the Euro zone intensified, political turmoil in Middle East infused extensive uncertainty coupled by earthquake in Japan resulting in overall worldwide gloomy scenario.

Despite improvement in the overall optimism about the economy, the financial markets continued to witness high volatility primarily driven by the direction and magnitude of foreign capital flows, movement in industrial production and inflation. Inflation remained elevated throughout the year owing to factors like surge in prices of vegetables and fruits and unexpected rise in international crude oil. Despite improved global economic prospects and recovery of the Indian economy, the FDI inflows have largely remained sluggish.

India's fiscal balance has also deteriorated in F.Y.2011 -12 due to slippage in direct tax revenue and increased subsidies.

In spite of successfully containing the adverse impact of global slowdown on Indian economy, the year was disappointing to a certain extent. But it is also a fact that India still remains among the front-runners in economic growth in cross-country comparison.

As per 3Q review of monetary policy 2011-12 by RBI, the growth in Industrial production moderated to 4.0% during 2011 -12 from 8.30% in the corresponding period a year ago.

Indian Economy grew at just 6.90% in the F.Y.2011-12. Growth in industrial production slowed down mainly due to slowdown of manufacturing 8t mining sectors. Capital inflows to India have slowed down on account of widening of current account deficit besides significant pressure on exchange rate, which added to inflationary pressures.

For F.Y.2012-13 the RBI anticipates that the economy will exhibit a modest recovery, with growth being slightly faster than that of during F.Y.2011-12.

During the year, the RBI reduced CRR on two occasions i.e. during end of 3^rd and 4^th quarters to facilitate availability of more funds into the system to tide over the tight liquidity position. Due to this, credit off take was more during last quarter of the year as compared to previous 3 quarters.

During the year, the RBI increased repo rate on 5 occasions to contain spiraling inflation.

On banking front, there were some important reforms such as deregulation of interest rates on Savings Bank Deposits and NRE Deposits. Banks have been proactive in adapting to the changes, which are coming their way in emerging banking space, both in domestic and international fronts.

Projections of deposits in Banks made by RBI for F.Y.2011-12 ended amid an acute liquidity crunch as customers withdrew funds to cope with high inflation. During the year under report deposits of Banking Industry grew at 17.40%, which is below the RBI projections, despite upward trend in interest rates across the banks based on provisional data.

However, credit of banking industry grew at 19.30% higher than the 16% projected by RBI.

In spite of the downtrend in the economy, the bank continued to offer competitive rate of interest on deposits and advances during the year.

Due to this the bank could mobilize substantial amount of deposits with a healthy growth rate of 25.18% and was able to deploy funds judiciously. Credit off take increased by 22.11% during the year. The Bank has registered growth rates both in deposits and advances well above the industry growth rates.

PERFORMANCE HIGHLIGHTS 2011 -12

· Total business of the bank increased from Rs.55091.300 Millions to Rs.68252.600 Millions reflecting a growth of 23.89%.

· Deposits grew from Rs.31961.400 Millions to Rs.40007.900 Millions with a rise of 25.18% while advances increased from Rs.23129.900 Millions to Rs.28244.700 Millions, an increase of 22.11 %.

· Net Profit increased from Rs.479.900 Millions to Rs.651.800 Millions with a growth of 35.82%.

· Gross NPA reduced from 1.52% (Rs.350.600 Millions) of gross advances to 0.70% (Rs.196.900 Millions) of Gross advances at the end of the year. The Bank continued to maintain Zero Net NPA.

· The bank has added 10 new branches, 14 on-site ATMs and 4 branches were shifted to new premises during the year.

· The business per employee grew from Rs.71.600 Millions to Rs.81.100 Millions and net profit per employee grew from Rs.0.624 Million to Rs.0.774 Million, inspite of addition of 73 employees during the year.

BRANCH EXPANSION PROGRAMME

During the year the Bank has expanded its operations by opening record number of 10 branches in any year at Bhaindar (East), Ghansoli, Jogeshwari (East), Kalyan (West), Puttur -(D. K.), Kandivali (East), Ghodbunder Road - Thane, Chinchwad - Pune, Peenya - Bengaluru and Moodbidri - Mangalore. All these branches have received a good response from the Members and the Customers. Four more branches are proposed to be opened before August 2012 at Kalwa in Maharashtra State and Karkala, Kundapura and Bantwal in Karnataka State.

The Bank has applied to the Reserve Bank of India for Branch licences for opening 5 more new Branches during the year 2012-13 at Mulky in Karnataka State and Kurla-Bail Bazar, Mulund (West), Dharavi - Sion (West) and Nashik in Maharashtra State.

The Bank has shifted the banking activities of its Govandi branch, Kandivali (West) branch, Thane (West) branch and Dadar (West) branch to new premises in view of increased banking opportunities.

INVESTMENT PORTFOLIO

The Bank has an investment portfolio of Rs.13867.400 Millions as on 31^st March, 2012 out of which an amount of Rs.11400.700 Millions has been invested in Government and other approved securities. The Bank's total investments in Government and other approved securities as on 31^st March, 2012 works out to 28.91 % of the Net Demand and Time Liabilities (NDTL) of the Bank, which is well above the limit stipulated by the Reserve Bank of India.

The Reserve Bank of India has made it mandatory for Urban Co-operative Banks having AD Category I licence to assign the duration based "capital charge" for the Market Risk with effect from 1^st April, 2010. Pursuant to this, Bank has been able to successfully manage investment portfolio and market risk during the year 2011-12.

Bank is a direct member of the NDS for settlement of Government securities for Treasury operations and the Clearing Corporation of India for Collateralized Borrowing and Lending Operations segment (CBLO). The Bank is borrowing and lending under CBLO as per the guidelines of the Reserve Bank of India and rules and regulations of the Clearing Corporation of India Limited, (CCIL). The Bank is using CBLO segment as an effective tool for liquidity and fund management.

TECHNOLOGY UPGRADATION FUND SCHEME (TUFS)

The Bank continued to be included as an eligible institution by the Small Industries Development Bank of India (SIDBI) under Technology Upgradation Funds Scheme (TUFS). Under this scheme, the eligible Textile Industrial borrowers can continue to claim interest reimbursement upto 5% of interest paid on term loans availed by them and Credit Linked Capital Subsidy (CLCS) against machinery for eligible sectors.

FINANCING TO PRIORITY SECTORS

In tune with the national objective of distributive justice, the Bank is continuing to emphasize channeling of credit to productive and infrastructural activities towards priority sector and weaker sections to meet socio-economic objectives of the Government of India.

Bank's advances to priority sectors as on 31st March, 2012 stood at Rs.18653.500 Millions forming 66.04% of the total advances. This includes a sum of Rs.2486.900 Millions sanctioned to weaker sections as per the guidelines of the Reserve Bank of India.

COMPUTATION OF NON-PERFORMING ASSETS (NPAs)

NPAs of the Bank were Rs.196.900 Millions as on 31^st March, 2012 as compared to Rs.350.600 Millions as on 31^st March, 2011. In percentage terms the Gross NPAs were at 0.70 of Gross Advances as on 31^stMarch, 2012 as compared to 1.52 of Gross Advances as on 31^st March, 2011. Net NPA continued to be NlL as on 31^st March, 2012.

NEW SERVICES / PRODUCTS

The Bank in its endeavour to be a "One Stop Shop" for all financial needs of its large base of customers is offering value added services and making all efforts to enter into tie-up arrangements with various financial intermediaries / banks for introduction of new products and services for the benefit of customers of the Bank.

The Bank has launched VISA International debit cards. With VISA International debit card, customers will have the convenience to transact from their account from almost anywhere in the world - besides India. Customers will be able to withdraw cash from any VISA ATM in foreign currency abroad as well as shop in foreign currency abroad using the Bharat Bank VISA International Debit card. From June/July 2012 onwards, customers would be able to use cards over the internet for e-commerce transactions like booking railway/airline tickets, shopping on websites etc.

Bank will launch Pre-Paid / Gift cards on VISA platform by the end of the year. Bank also has plans to provide Bill-Payment facility to customers in this financial year.

Bank has added 14 more on-site ATMs during this financial year, thereby providing 37 on-site ATMs for the convenience of customers. Currently, more than 1500 payments per day (cash withdrawals) are processed on Bharat Bank ATMs. An amount of Rs.2244.700 Millions was dispensed by Bharat Bank ATMs in this financial year.

Bank has become a member of NPCI (National Payments Corporation of India) and will be introducing RUPAY cards soon. Rupay cards will provide Bharat Bank customer’s access to over 91,000 ATMs of 63 member banks in India. This includes ATMs of Banks which are not part of VISA network.

SMS Alerts on debits/credits happening in the account has been greatly appreciated by the customers. The customer remains in touch with his account through this useful service. During the year, Bank has seen 139% increase in transaction SMS generated, up from 1.39 lac SMS p.m. to 3.33 Lac SMS p.m. Customers also have option to send keywords like BAL, LST3 through SMS and get Balance and details of last 3 transactions as a return SMS. Additionally, customers can also get details like Address of branch, Timings, Telephone Nos., Rate of Interest on FD etc by sending Keywords in SMS. Customer can also SMS MENU to 9664 000000 to know the list of keywords available.

MEMBERSHIP OF BANKING CODES AND STANDARDS BOARD OF INDIA (BCSBI)

The Bank continued to be a member of the Banking Codes and Standards Board of India (BCSBI) with a view to improving the quality of Customer Service. As a member of BCSBI, the Bank has formally adopted the Code of Commitment to Customers and the Code of Bank's Commitment to Micro and Small Enterprises for implementation and shall always observe the same in letter and in spirit. The Bank also adheres to voluntary codes of BCSBI, which set minimum standards for fair and transparent treatment of consumers of banking services.

OVERVIEW:

The Bharat Co-operative Bank (Mumbai) Limited, was registered in 1977 and is engaged in providing a wide range of banking and financial services.

WEBSITE DETAILS

HISTORY

The Bharat Co-operative Bank (Mumbai) Limited, registered under The Maharashtra Co-operative Societies Act, 1960 (Registration No. Bom/Bank/138 of 1977 dated 9th June, 1977) popularly known in the metropolis as Bharat Bank has commenced its Banking operations with a capital base of Rs.0.632 Millions from its present registered office at 64/72, Mody Street, Fort, Mumbai - 400 001 since 21.08.1978. The Reserve Bank of India has issued Banking License vide License No.ACD.MH 108-P dated 8th June, 1978.

In the year 1978, several young, enthusiastic and like-minded social workers associated with The Billawar Association, Mumbai, a Charitable Institution sponsored the Bank. The Bank was established with an intention to promote social justice and welfare and to take banking to the masses especially middle class and low-income group of people to support their standard of living. It was initially difficult to collect share amount of Rs.10/- for one share. Now the Bank is enjoying enormous confidence and loyalty from the members, depositors, well wishers and public in general. The Bank has made enormous progress during the period of 34 years of its banking business due to confidence bestowed by the people at large. A common man has no hesitation to invest his hard earned money in Bharat Bank for safety and better returns.

The Bank now known for its service, clean image and young team of personnel has carved its own niche as one of the best Banks in the Metropolis having a customer base of more than 12 lacs. The Reserve Bank of India has conferred scheduled status to the Bank on 22nd April, 1996 and the Bank subsequently registered as Multi-State Scheduled Co-operative Bank on 26th September, 1997 vide Registration No. MSCS/CR/71/97 dated 26th September, 1997. Today the Bank has 47 Branches which include 8 branches in Karnataka, four of which are located in Bangalore and one each in Udupi, Mangalore, Suratkal, Puttur and Moodbidri. The 47st Branch was inaugrated at Kalwa on 11th May 2012. In spite of not too conducive atmosphere prevailed in the Banking scenario particularly in the co-operative Banking sector the performances of the Bank during the last few years deserves notice. The Bank has posted a net profit of Rs.651.800 Millions for the financial year ended 31st March 2012 as against Rs.479.900 Millions for the previous year after making necessary provisions in accordance with the extent guidelines of RBI.

The Bank has made appreciable progress in the last decade of its banking operations in terms of opening of branches, mobilization of deposits, deployment of resources and profitability. The shareholders have also benefited due to attractive dividends.

The Non-Performing Assets (NPA's) were reduced to Rs.196.900 Millions as on 31st March 2012.

TECHNOLOGICAL UPGRADATIONS:

The need for technological upgradations in the Banking Industry, the Information Technology Department of the Bank continues to pay special attention to upgrade technological needs. The Bank is successfully running Core Banking Solution thereby improving customer service and customer satisfaction. At present the Bank has eighteen onsite ATM's allover and has plans to setup more during the current financial year. It also has plans to share network of other Bank's ATM. SMS Alerts and Telebanking facilities to check Account details, are also available to increase customer convenience. Fully Fledged Forex operation was launched.

MEMBER OF INFINET:

The Bank has registered with Reserve Bank of India under INFINET (Indian Financial Network). This is a user group communication network set up by the Reserve Bank of India for integrated payment and settlement system. The Bank can engage in treasury and other investment activities through Negotiated Dealing System (NDS). The Bank can also participate in Electronic Clearing System (ECS), Electronic Fund Transfer (EFT), Real Time Gross Settlement (RTGS) and National Electronic Fund Transfer (NEFT). INFINET system enables the Bank in daily clearing of instruments for speedy and effective transfer of funds on behalf of clients of the Bank. The Bank has also implemented RTGS (Real Time Gross Settlement) in the Bank enabling the customers to send / receive money to / from any Bank in India.

TUFS (TECHNOLOGY UPGRADATION FUND SCHEME):

The Bank continued to be included as an eligible institution by the Small Industries Development Bank of India (SIDBI) under Technology Upgradation Funds Scheme (TUFS). Under this scheme the Textile Industrial borrowers are eligible for claiming interest reimbursement from SIDBI upto 5% of interest paid on term loans availed by them from the Bank.

CORPORATE AGENT:

The Bank is a Corporate Agent for soliciting insurance business of both Life and General Insurance without risk participation.

The Bank processes and issues LIC policies on life under attractive schemes from Life Insurance Corporation of India (LIC) and General Insurance Policies covering mediclaim, ownership premises, stock, furniture, fixtures and other valuables through New India Assurance Company Limited.

PERSONNEL:

Banking is essentially a service industry more so in case of Co-operative Banks. In the fast changing environment, the definition of Banking has undergone metamorphic change and therefore updating skill and knowledge of employees is need of the hour. Bharat Bank has always emphasized on the quality of its personnel and extensive training is being given to the employees in core areas of Banking through in house as well as external training sources.

SOCIAL TRAITS:

The Bank also has taken lead to fulfill its social obligations and support to the people affected by natural calamities. It makes optimum donations to the social causes like Prime/ Chief Minister's Relief Fund for earthquake victims, National defense fund, cyclone fund, National Association of Blind, Bombay Leprosy Project etc.

The Bank is operating on sound financial parameters and always adhering to the Reserve Bank of India guidelines and regulations. The Bank has transparent and vibrant system of Management by the Board of Directors who also oversees and supervises the progress of the Bank.

ACHIEVEMENTS

YEAR	Achievements

2010-2011	"Uttam rithi ne kaam karnare Utkrishta Bank"-- amongst all Co-op banks in the state of Maharashtra---category deposits of 5000.000 Millions and above based on financial parameters during the financial year 2010-11. BY The Maharashtra Urban Co-Op Bank's Federation.
2009-2010	1st Prize for "Overall Performance " in the category of Co-operative Banks with working capital above 5000.000 Millions, by the Brihan Mumbai Nagari Sahakari Banks Association, Mumbai for the financial year 2008 - 2009.
2008-2009	Second prize ‘Performance Bank Award for 2007-08’ in the category of Banks having deposits over Rs.10000.000 Millions on 31st July, 2009.
2007-2008	Won the Frontiers in Co-op. Banking Award 2008 for the categories Innovations in HRD, which was introduced for the first time and also for Innovations in Advertising
2006-2007	Won the First Prize for the year 2006-2007 from 'The Brihan Mumbai Nagari Sahakari Banks Association-Mumbai' for Best Functioning and Annual report of the year.Bank also received 'Frontiers in Co-operative Banking - Award 2006-07' for Branch Innovation / Upgradation from Banking Frontiers
2004-2005	Declared third position in the category of scheduled urban co-operative Banks having deposits of above Rs.5000.000 Millions for the year 2004-2005 by The Maharashtra Urban Co-operative Banks Federation Limited, Mumbai.
2003-2004	'Udyog Rattan Award' received by the Chairman of the Bank from the Institute of Economic Studies (IES), New Delhi at the time of the Seminar on 'Economic Development' held on 28^th May, 2005 at New Delhi.
2003-2004	Excellence Certificate received by the Bank from the Institute of Economic Studies (IES), New Delhi at the time of the Seminar on 'Economic Development' held on 28th May, 2005 at New Delhi.
2002-2003	Merit Certificate for the Year 2002-2003 Merit Certificate received by the Bank from the National Institute of Co-operative Development and Rural Management, Amravati, Maharashtra, in the national level competition for the overall performance of Co-operative Banks during the year 2002-2003.
February, 2003	Rated 8th amongst 50 best Co-operative Banks in Mumbai District, which have been evaluated by "Financial Express", leading economic newspaper on the basis of five dimensional dynamics ranking exercise – financial, operational, productivity, profitability and social responsibility.
October, 2002	Categorised as 'A' grade Bank by the Commissioner for Co-operation and Registrar of Co-operative Societies, Maharashtra State Pune while carrying out the exercise of classifying 634 Urban Co-operative Banks in the State of Maharashtra in the month of October, 2002.
August, 2002	Declared as the Safest and Financially Sound Bank along with 14 other Co-operative Banks in the state of Maharashtra, by the Hon'ble Chief Minister of Maharashtra in the Vidhan Sabha.
May, 2002	Categorised as 'A' grade Bank by the Commissioner for Co-operation and Registrar of Co-operative Societies, Maharashtra State Pune while carrying out the exercise of classifying 658 Urban Co-operative Banks in the State of Maharashtra in the month of May, 2002.
2001-2002	Merit Certificate For, the Year 2001-2002. Merit Certificate received by the Bank from the National Institute of Co-operative Development and Rural Management, Wardha, Maharashtra State for the overall performance of co-operative Banks during the year 2001-2002.
2000-2001	The Bank has won 'FIRST PRIZE' for the overall performance in the category of Urban Co-operative Banks nearing Silver Jubilee Year in the state level competition of Co-operative Banks conducted by "Yuvak Mudra" a social organization based at Karad.
1999-2000	Merit Certificate for the Year 1999-2000 Merit Certificate and cash award received by the Bank from the National Institute of Co-operative Development and Rural Management, Amravati, Maharashtra , in the national level competition for the overall performance of Co-operative Banks during the year 1999-2000.
1998-99	Merit Certificate for The Year 1998-99 Merit Certificate and cash award received by the Bank from the National Institute of Co-operative Development and Rural Management, Amravati, Maharashtra , in the national level competition for the overall performance of Co-operative Banks during the year 1998-99.
1997-98	Merit Certificate for the Year 1997-98 Merit Certificate and cash award received by the Bank from the National Institute of Co-operative Development and Rural Management, Amravati, Maharashtra, in the national level competition for the overall performance of Co-operative Banks during the year 1997-98.
1996-97	Merit Certificate for the Year 1996-97 The National Institute of Co-operative Development and Rural Management, Amravati , Maharashtra has awarded merit certificate and cash award to the Bank, in the national level competition for the overall performance of Co-operative Banks during the year 1996-97.
1996-97	Momento from Nafcub for Attaining 'Scheduled' Status Felicitated with a momento on attaining Scheduled Status by the National Federation of Urban Co-operative Banks and Credit Societies, New Delhi.
1995-96	Merit Certificate for the Year 1995-1996 The National Institute of Co-operative Development and Rural Management, Amravati, Maharashtra has awarded merit certificate and cash award to the Bank in the national level competition for the overall performance of Co-operative Banks during the year 1995-96.
1993-94	Silver Trophy for Overall Better Performance during the Year 1993-94. As per evaluation done by an expert committee set up for the purpose in the category of Banks having deposits of Rs.500.000 Millions and above. Bank had crossed Rs.1000.000 Millions of deposits as on 31.03.1994. This trophy was awarded for the fast progress made by the Bank in achieving 1000.000 Millions of deposit.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.60
UK Pound	1	Rs.87.34
Euro	1	Rs.70.66

INFORMATION DETAILS

Report Prepared by :

NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		62

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

'Udyog Rattan Award' received by the Chairman of the Bank from the Institute of Economic Studies (IES), New Delhi at the time of the Seminar on 'Economic Development' held on 28^th May, 2005 at New Delhi.

Excellence Certificate received by the Bank from the Institute of Economic Studies (IES), New Delhi at the time of the Seminar on 'Economic Development' held on 28th May, 2005 at New Delhi.

Merit Certificate for the Year 2002-2003

Merit Certificate received by the Bank from the National Institute of Co-operative Development and Rural Management, Amravati, Maharashtra, in the national level competition for the overall performance of Co-operative Banks during the year 2002-2003.

Rated 8th amongst 50 best Co-operative Banks in Mumbai District, which have been evaluated by "Financial Express", leading economic newspaper on the basis of five dimensional dynamics ranking exercise – financial, operational, productivity, profitability and social responsibility.

Categorised as 'A' grade Bank by the Commissioner for Co-operation and Registrar of Co-operative Societies, Maharashtra State Pune while carrying out the exercise of classifying 634 Urban Co-operative Banks in the State of Maharashtra in the month of October, 2002.

Declared as the Safest and Financially Sound Bank along with 14 other Co-operative Banks in the state of Maharashtra, by the Hon'ble Chief Minister of Maharashtra in the Vidhan Sabha.

Categorised as 'A' grade Bank by the Commissioner for Co-operation and Registrar of Co-operative Societies, Maharashtra State Pune while carrying out the exercise of classifying 658 Urban Co-operative Banks in the State of Maharashtra in the month of May, 2002.

Merit Certificate For, the Year 2001-2002.

Merit Certificate received by the Bank from the National Institute of Co-operative Development and Rural Management, Wardha, Maharashtra State for the overall performance of co-operative Banks during the year 2001-2002.

The Bank has won 'FIRST PRIZE' for the overall performance in the category of Urban Co-operative Banks nearing Silver Jubilee Year in the state level competition of Co-operative Banks conducted by "Yuvak Mudra" a social organization based at Karad.

Merit Certificate for the Year 1999-2000

Merit Certificate and cash award received by the Bank from the National Institute of Co-operative Development and Rural Management, Amravati, Maharashtra , in the national level competition for the overall performance of Co-operative Banks during the year 1999-2000.

Merit Certificate for The Year 1998-99

Merit Certificate and cash award received by the Bank from the National Institute of Co-operative Development and Rural Management, Amravati, Maharashtra , in the national level competition for the overall performance of Co-operative Banks during the year 1998-99.

Merit Certificate for the Year 1997-98

Merit Certificate and cash award received by the Bank from the National Institute of Co-operative Development and Rural Management, Amravati, Maharashtra, in the national level competition for the overall performance of Co-operative Banks during the year 1997-98.

Merit Certificate for the Year 1996-97

The National Institute of Co-operative Development and Rural Management, Amravati , Maharashtra has awarded merit certificate and cash award to the Bank, in the national level competition for the overall performance of Co-operative Banks during the year 1996-97.

Momento from Nafcub for Attaining 'Scheduled' Status

Felicitated with a momento on attaining Scheduled Status by the National Federation of Urban Co-operative Banks and Credit Societies, New Delhi.

Merit Certificate for the Year 1995-1996

The National Institute of Co-operative Development and Rural Management, Amravati, Maharashtra has awarded merit certificate and cash award to the Bank in the national level competition for the overall performance of Co-operative Banks during the year 1995-96.

Silver Trophy for Overall Better Performance during the Year 1993-94.

Unit

MIRA INFORM REPORT

'Udyog Rattan Award' received by the Chairman of the Bank from the Institute of Economic Studies (IES), New Delhi at the time of the Seminar on 'Economic Development' held on 28th May, 2005 at New Delhi.

Excellence Certificate received by the Bank from the Institute of Economic Studies (IES), New Delhi at the time of the Seminar on 'Economic Development' held on 28th May, 2005 at New Delhi.

Merit Certificate for the Year 2002-2003

Merit Certificate received by the Bank from the National Institute of Co-operative Development and Rural Management, Amravati, Maharashtra, in the national level competition for the overall performance of Co-operative Banks during the year 2002-2003.

Rated 8th amongst 50 best Co-operative Banks in Mumbai District, which have been evaluated by "Financial Express", leading economic newspaper on the basis of five dimensional dynamics ranking exercise – financial, operational, productivity, profitability and social responsibility.

Categorised as 'A' grade Bank by the Commissioner for Co-operation and Registrar of Co-operative Societies, Maharashtra State Pune while carrying out the exercise of classifying 634 Urban Co-operative Banks in the State of Maharashtra in the month of October, 2002.

Declared as the Safest and Financially Sound Bank along with 14 other Co-operative Banks in the state of Maharashtra, by the Hon'ble Chief Minister of Maharashtra in the Vidhan Sabha.

Categorised as 'A' grade Bank by the Commissioner for Co-operation and Registrar of Co-operative Societies, Maharashtra State Pune while carrying out the exercise of classifying 658 Urban Co-operative Banks in the State of Maharashtra in the month of May, 2002.

Merit Certificate For, the Year 2001-2002.

Merit Certificate received by the Bank from the National Institute of Co-operative Development and Rural Management, Wardha, Maharashtra State for the overall performance of co-operative Banks during the year 2001-2002.

The Bank has won 'FIRST PRIZE' for the overall performance in the category of Urban Co-operative Banks nearing Silver Jubilee Year in the state level competition of Co-operative Banks conducted by "Yuvak Mudra" a social organization based at Karad.

Merit Certificate for the Year 1999-2000

Merit Certificate and cash award received by the Bank from the National Institute of Co-operative Development and Rural Management, Amravati, Maharashtra , in the national level competition for the overall performance of Co-operative Banks during the year 1999-2000.

Merit Certificate for The Year 1998-99

Merit Certificate and cash award received by the Bank from the National Institute of Co-operative Development and Rural Management, Amravati, Maharashtra , in the national level competition for the overall performance of Co-operative Banks during the year 1998-99.

Merit Certificate for the Year 1997-98

Merit Certificate and cash award received by the Bank from the National Institute of Co-operative Development and Rural Management, Amravati, Maharashtra, in the national level competition for the overall performance of Co-operative Banks during the year 1997-98.

Merit Certificate for the Year 1996-97

The National Institute of Co-operative Development and Rural Management, Amravati , Maharashtra has awarded merit certificate and cash award to the Bank, in the national level competition for the overall performance of Co-operative Banks during the year 1996-97.

Momento from Nafcub for Attaining 'Scheduled' Status

Felicitated with a momento on attaining Scheduled Status by the National Federation of Urban Co-operative Banks and Credit Societies, New Delhi.

Merit Certificate for the Year 1995-1996

The National Institute of Co-operative Development and Rural Management, Amravati, Maharashtra has awarded merit certificate and cash award to the Bank in the national level competition for the overall performance of Co-operative Banks during the year 1995-96.

Silver Trophy for Overall Better Performance during the Year 1993-94.

Unit

'Udyog Rattan Award' received by the Chairman of the Bank from the Institute of Economic Studies (IES), New Delhi at the time of the Seminar on 'Economic Development' held on 28^th May, 2005 at New Delhi.