|
Report No. : |
342062 |
|
Report Date : |
28.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
THE MAHARASHTRA STATE COMPANY-OPERATIVE BANK LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 88, Sector No. 17, Vashi, Navi Mumbai – 4000703, Maharashtra |
|
Tel. No.: |
91-22-22876015/20 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
01.05.1961 |
|
|
|
|
Com. Reg. No.: |
Not Divulged |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4567.300 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
Not Divulged |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is act as bank to providing banking services. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is the co-operative bank having satisfactory track. It was originally registered as the Bombay Central Co-operative Bank Limited
in 1911. Later with the passage of time, the Bank underwent few
constitutional changes before it acquired the present status, viz. the
subject name “The Maharashtra State Co-operative Bank Limited” on 1st
May 1961. Further, rating takes into consideration bank’s long track record of
business operations supported by healthy reserves level and well spread
banking network. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of the aforesaid, the subject can be considered normal for
business dealings 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DENIED BY
MANAGEMENT NON-CO-OPERATIVE (91-22-2287615)
LOCATIONS
|
Registered Office : |
Plot No. 88, Sector No. 17, Vashi, Navi Mumbai – 4000703, Maharashtra,
India |
|
Tel. No.: |
91-22-22876015 – 20/ 27892513 |
|
Fax No.: |
91-22-22834416 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office 1 : |
9, Maharashtra Chamber of commerce lane, Fort, Mumbai – 40001,
Maharashtra, India |
|
Tel. No.: |
91-22-22876015 – 20, 2880585, 22800532, 228005332, 22800541 |
|
Fax No.: |
91-22-22834416 |
|
E-Mail : |
|
|
|
|
|
Head Office 2 : |
120, Shahid Bhagat Singh Road, Fort, Mumbai – 400001, Maharashtra,
India |
|
Tel. No.: |
91-22-22876015 – 20 |
|
|
|
|
Branch 1 : |
Plot No. 177, B. D. K. Sandu Marg, Chembur, Mumbai – 400071,
Maharashtra, India |
|
Tel. No.: |
91-22-25282561 |
|
|
|
|
Branch 2: |
Murlidhar Mandir Trust Building, Near Ram Mandir, Plot no. 202, Sion
(East), Mumbai – 400022, Maharashtra, India |
|
Tel. No.: |
91-22-24073591 |
|
|
|
|
Service Centre 1: |
Regional Office: Nagpur Dr. Dhananjay Gadgil Road, Mahal, Nagpur – 440032, Maharashtra, India |
|
Tel. No.: |
91-712-561950, 2729096, 2729097,2726308, 2727346, (Ext.206, 328) |
|
Fax No.: |
91-712-2728663, 2737227 |
|
E-Mail : |
|
|
|
|
|
Service Centre 2: |
Regional Office: Aurangabad - Branch Plot No. 10, Town Centre, CIDCO, Aurangabad - 431003, P. O. Box. No. 654, Maharashtra, India |
|
Tel. No.: |
91-240-2471464, 2485810, 2485221, 2482228, 2476068 (Ext.211, 212) |
|
Fax No.: |
91-240-485011, 2471464 |
|
E-Mail : |
|
|
|
|
|
Service Centre 3 : |
Divisional Office: Plot No. 3, Sector - E, Mumbai - Agra Road, CIDCO, P. O. Box. No. 81, Nasik – 422009, Maharashtra, India |
|
Tel. No.: |
91-253-2392852, 2392853, 2392854 |
|
Fax No.: |
91-253-2392980 |
|
E-Mail : |
|
|
|
|
|
Service Centre 4 : |
Pay Office: Kolhapur Ayodhya Towers, 4th Floor, Dabholkar Corner, Shahupuri, Kolhapur, Maharashtra, India |
|
Tel. No.: |
91-231-2666792, 2666793, 2652762 |
|
Fax No.: |
91-231- 2662708 |
|
E-Mail : |
|
|
|
|
|
Service Centre 5: |
CTS center: C/o. Solapur DCC Bank Ltd., Head Office, Ext.Building - 46, 1st Floor, Yogeshvari Complex, Gold Flech peth, Solapur – 413001, Maharashtra, India |
|
|
|
|
Administrative
Office: |
Plot No.88, Sector No.17, P.O. Box No.29, Vashi, Navi Mumbai - 400703, Maharashtra, India |
|
Tel. No.: |
91-22- 27892340/27890329/27890470 |
|
Fax No.: |
91-22-27894923/27895040/27890069 |
|
E-Mail : |
|
|
|
|
|
Regional Offices: |
Also Located At:
|
|
|
|
|
Pay Offices: |
Also Located At:
|
|
|
|
|
Divisional Office: |
Also Located At:
|
MANAGEMENT
|
Name : |
Mr. Pramod Karnad |
|
Designation : |
Managing director |
|
|
|
|
Name : |
Mr. M.L. Sukhdeva |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. K.N. Tambe |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. A. A. Magdum |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. N. D. Patil |
|
Designation : |
General Manager |
|
Department |
K.Y.C., Banking, IBD, Estate and Maintenance, Project Apprisal and Marketing Department |
|
Tel No.: |
91-22-22833735 |
|
Email ID: |
ndpatil@mscbank.com |
|
|
|
|
Name : |
Mr. R.J. Deshmukh |
|
Designation : |
General Manager |
|
Department |
AIC, DIR and R, HRDM, Treasury, ITD and Legal |
|
Tel No.: |
91-22-22836554 |
|
Email ID: |
|
|
|
|
|
Name : |
Dr. M. S. Suryawanshi |
|
Designation : |
General Manager |
|
Department |
CPID, CFA, Inspection and Audit, Internal Audit, Urban Cooperative Banks Department |
|
Tel No.: |
91-22-27890344 |
|
Email ID: |
|
|
|
|
|
Name : |
Dr. A.R. Deshmukh |
|
Designation : |
Dy. General Manager |
|
Department |
Banking & Legal and IBD |
|
Tel No.: |
91-22-22872403 |
|
Email ID: |
|
|
|
|
|
Name : |
Mr. S.Y. Phatak |
|
Designation : |
Dy. General Manager |
|
Department |
Treasury,IT and Urban |
|
Tel No.: |
91-22-22835213 |
|
Email ID: |
|
|
|
|
|
Name : |
Mr. M.A. Bhavsar |
|
Designation : |
Dy. General Manager |
|
Department |
CFA, CPID, Inspection and Audit |
|
Tel No.: |
91-22-27890344 |
|
Email ID: |
|
|
|
|
|
Name : |
Mr. S. M. Shinde |
|
Designation : |
Dy. General Manager |
|
Department |
General Administration and DIR&R, and Vigilance Cell |
|
Tel No.: |
91-22-22028638 |
|
Email ID: |
|
|
|
|
|
Name : |
Mr. S.T. Wagh |
|
Designation : |
Dy. General Manage |
|
Department |
AIC,Project Appraisal,Internal Audit and Risk Management Department |
|
Tel No.: |
91- 22851957 |
|
Email ID: |
|
|
|
|
|
Name : |
Mr. R. L. Bayas |
|
Designation : |
Dy. General Manager |
|
Department |
Risk Management Department |
|
Tel No.: |
91-22- 22800650 |
|
Email ID: |
|
|
|
|
|
Name : |
Mr. S.R. Patil |
|
Designation : |
Manager |
|
Department |
CFA, Vashi |
|
Tel No.: |
91-22-27890493 |
|
Email ID: |
|
|
|
|
|
Name : |
Mr. G.P. Deshmukh |
|
Designation : |
Manager |
|
Department |
Inspection and Audit and Addtional Charge- Urban Banks Departments |
|
Tel No.: |
91-22-27894926 |
|
Email ID: |
|
|
|
|
|
Name : |
Mr. P. M. Bhuktar |
|
Designation : |
Manager |
|
Department |
Regional Office, Pune |
|
Tel No.: |
91-22822217, 22851946 |
|
Email ID: |
|
|
|
|
|
Name : |
Mr. S.B. Randaye |
|
Designation : |
Manager |
|
Department |
Banking |
|
Tel No.: |
91-22-22042485 |
|
Email ID: |
|
|
|
|
|
Name : |
S. C. Kedar |
|
Designation : |
Manager |
|
Department |
IT, Additional Charge of business development cell, Additional Charge of Risk Management, Head Office, Mumbai |
|
Tel No.: |
91-22-22046331 |
|
Email ID: |
|
|
|
|
|
Name : |
Mr. D. N. Dighe |
|
Designation : |
Manager |
|
Department |
Treasury dept and Additional Charge - IBD. |
|
Tel No.: |
91-22-22817274, 22817276 |
|
Email iD: |
|
|
|
|
|
Name : |
Mr. P. S. Rajput |
|
Designation : |
Manager |
|
Department |
CPID Dept., Vashi |
|
Tel No.: |
91-22-27890490 |
|
Email ID |
|
|
|
|
|
Name : |
Mr. S.B. Kadam |
|
Designation : |
Manager |
|
Department |
Internal Audit |
|
Tel No.: |
91-22-25217534/ 25217582 |
|
Email ID |
|
|
|
|
|
Name : |
Mr. A. G. Muddeshwar |
|
Designation : |
Manager |
|
Department |
Regional Office, Aurangabad |
|
Tel No.: |
91- 240 - 2485112 |
|
Email ID |
|
|
|
|
|
Name : |
Mr. B. S. Tondare |
|
Designation : |
Manager |
|
Department |
Legal Dept., Head Office, Mumbai |
|
Tel No.: |
91-22-22821412 |
|
Email ID |
|
|
|
|
|
Name : |
Mr. O. S. Thokare |
|
Designation : |
Manager |
|
Department |
HRD and M Dept., Head Office, Mumbai |
|
Tel No.: |
91-22-22042477 |
|
Email ID |
|
|
|
|
|
Name : |
Mrs. T. S. Korde |
|
Designation : |
Manager |
|
Department |
Regional Office, Nagpur |
|
Tel No.: |
91-712- 2723930/ 2774967 |
|
Email ID |
|
|
|
|
|
Name : |
Mr. R.W. Bakal |
|
Designation : |
Manager |
|
Department |
Regional Office, Nashik |
|
Tel No.: |
91-253- 2379589 2392980 |
|
|
|
|
Name : |
Mr. S.T. Varpe |
|
Designation : |
Manager |
|
Department |
AIC Dept., Additional Charge of Project Apprisal and Marketing, Mumbai |
|
Tel No.: |
91-22-22822217 |
|
Email ID |
|
|
|
|
|
Name : |
Mr. D.A. Jadhav |
|
Designation : |
Manager |
|
Department |
General Administration Department |
|
Tel No.: |
91-22-22845505 |
|
Email ID |
|
|
|
|
|
Name : |
Mr. A.M. Bhuibhar |
|
Designation : |
Manager |
|
Department |
DIR&R, Head Office, Mumbai |
|
Tel No.: |
91-22-22822217 |
|
Email ID |
MAJOR SHAREHOLDERS
NOT DIVULGED
BUSINESS DETAILS
|
Line of Business : |
Subject is act as bank to providing banking services. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
|
Auditors : |
Not Divulged |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
AS ON 31.03.2015
Share Capital:
Rs.4567.300 Million
FINANCIAL DATA
[all figures are
in Rupees Million]
|
Sr. No. |
Particulars |
2010-11 |
2011-12 |
2012-13 |
2013-14 |
2014-15 |
|
1 |
Share Capital |
4254.100 |
4446.500 |
4482.800 |
4529.800 |
4567.300 |
|
2 |
Reserves |
38381.500 |
37524.500 |
31879.500 |
31161.800 |
31985.700 |
|
3 |
Owned Funds |
42635.600 |
41971.000 |
36362.300 |
35691.600 |
36553.000 |
|
4 |
Deposits |
174287.300 |
158623.900 |
154264.000 |
134748.300 |
99926.600 |
|
5 |
Borrowings |
37093.700 |
39657.100 |
45944.200 |
62006.300 |
67172.000 |
|
6 |
Investment |
119875.700 |
120403.300 |
107036.400 |
112109.200 |
74821.400 |
|
7 |
Loans and Advances |
109889.600 |
102852.800 |
116045.500 |
107311.100 |
74821.400 |
|
8 |
Net Profit |
(2519.100) |
1753.900 |
3911.700 |
4005.100 |
4105.900 |
|
9 |
CRAR % |
58.600 |
79.400 |
106.400 |
145.800 |
163.000 |
|
010 |
Gross NPA % |
235.200 |
211.900 |
163.800 |
146.600 |
117.100 |
|
11 |
Net NPA % |
42.700 |
17.800 |
13.800 |
13.000 |
06.000 |
|
12 |
Recovery % (as on 30th June) |
734.800 |
840.000 |
891.200 |
909.200 |
920.500 |
|
13 |
Net Worth |
4047.400 |
6024.700 |
10192.200 |
13924.900 |
17206.900 |
|
14 |
No. of Offices / Branches |
560.000 |
560.000 |
560.000 |
530.000 |
480.000 |
|
15 |
No. of Employees |
18420.000 |
17280.000 |
16230.000 |
15060.000 |
14050.000 |
|
16 |
Per Branch Business |
5074.600 |
4669.200 |
4827.000 |
4567.200 |
4583.200 |
|
17 |
Per Employee Business |
154.300 |
151.300 |
166.500 |
160.700 |
156.600 |
|
18 |
Working Capital |
254441.000 |
242898.100 |
239232.200 |
236578.100 |
209471.000 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
No |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the Annual
Report |
No |
HISTORY:
The co-operative movement in India traces its origin to a period as early as 1904, when the Co-operative Credit Societies Act was enacted. As far as co-operative sector is concerned, Maharashtra is the most developed state in the country. There is hardly any village in the state which remains untouched by the co-operative movement and hardly any important economic activity that is not covered under a co-operative fold. The co-operative movement in Maharashtra is nourished by a three-tier co-operative credit structure, at the helm of which is The Maharashtra State Co-operative Bank Limited (MSCB). At the middle level are 31 District Central Co-operative Banks (DCCBs) and at the bottom level, over 21269 Primary Agricultural Credit Societies (PACS) are functioning.
The MSC Bank serves as a balancing center for the surplus resources of co-operatives in the state and thereby ensures their multifaceted development and prosperity. Needless to say that MSC Bank is the biggest co-operative bank in the country. Besides, it is the only co-operative bank in India which has figured 9 times among the top 1000 banks in the world on the basis of financial soundness (Capital Adequacy) as surveyed by ‘The Banker’ published from London, periodically. The bank is listed in Schedule II of RBI Act 1934.
THE NETWORK OF THE
CO-OPERATIVE CREDIT STRUCTURE IN MAHARASHTRA:
|
Sr. No. |
The Maharashtra
State Co-op. Bank |
2013-14 |
Co-operative Credit
Structure |
2013-14 |
|
1 |
Head Office (Mumbai) |
1 |
No. of DCC Banks |
31 |
|
2 |
Administrative Office (Vashi) |
1 |
No. of Branches of DCCBs |
3711 |
|
3 |
Regional Offices |
4 |
Total No. of PACS |
21269 |
|
4 |
Pay Offices |
2 |
Members of PACS |
11141670 |
|
5 |
Divisional Offices |
8 |
Borrower Members |
4879198 |
|
6 |
Branches |
43 |
No. of Urban Co-op. Banks |
520 |
|
7 |
Extension Counters |
3 |
No. of Branches of Urban Co-op. Banks |
4426 |
|
8 |
CTS Service Centers |
7 |
No. of Urban Co-op. Cr. Sty’s. (Mar 09) |
26629 |
The twin objectives of MSCB is to promote and propagate the creation of a Co-operative Commonwealth through socio-economic transformation of the community by following co-operative principles by adopting democratic means. It means elimination of individual profit, distribution of surplus earnings according to the established law & regular practice and readiness to work for a common cause.
The business of this Bank shall be carried on and managed by elected Board of Directors. The maximum number of elected members of the Board shall not exceed twenty one. At least TWO directors on the Board of Directors of the Bank should meet the criteria of expert director mentioned in Bye-law 2(i). The Board meets as often as may be necessary, but at least once in two months and exercises overall control over the working of the Bank. From the Board of Directors, are constituted three sub-committees, viz. Loan Committee, Executive Committee and Staff Committee.
Loan Committee considers Loan proposals, requests for opening inland and foreign letters of credit, issuance of bank guarantees on behalf of co-operatives and other constituents.
Executive Committee considers issues like admission of members, allotment, transfer and redemption of shares of the Bank and other administrative and working operational matters.
Staff Committee decides matters exclusively related to staff, such as recruitment, appointments, promotions, training needs etc.
The first two committees meet alternatively once in a fortnight, while the staff committee is expected to meet quarterly. The General Body of Members meets once in a year. The day-to-day working of the Bank is supervised by the Managing Director with the help of senior colleagues.
Board of Administrators consisting of 2 members has been appointed by the State Government to carry on business of the Bank since 7th May 2011 in more professional way.
Over the years, MSCB has been fortunate in having the guidance of eminent personalities in different walks of life. To mention a few are successful businessmen like the late Mr. Lallubhai Samaldas, Mr. Vaikunthbhai Mehta, Mr. V. D. Thackersey and intellectuals like professor D. G. Karve, Dr. Dhananjayrao Gadgil and Mr. R. G. Saraiya who have helped the Bank to grow in stature and strength.
The Bank was originally registered as The Bombay Central Co- operative Bank Limited in 1911. However, it’s fore-runner The Bombay Urban Co- operative Credit Society was formed on 23-01-1906. With the passage of time, the Bank underwent a few constitutional changes before it acquired the present status, viz. The Maharashtra State Co-operative Bank Ltd. (Incorporating the Vidarbha Co-operative Bank Ltd.) on 1-5-1961 under the Registration No. 359 following the reorganization of states on the linguistic basis. It is interesting to note that as a result of constitutional changes, The Bombay Central Co-operative Bank Ltd. became known as The Bombay Provincial Co-operative Bank Ltd. in 1923, which from 1952 was recognized as The Bombay State Co-operative Bank Limited.
Initially, the Bank laid emphasis on the establishment of live contacts with villagers, which gave impetus to the opening of branches in the state. The Bank’s credit and marketing activities were combined in its rural branches. However, in due course the Bank encouraged the formation of separate marketing societies and transferred the business to them. With the evolution of three-tier co-operative credit structure (PACS, DCCBs, MSCB), the Bank transferred its credit business to the newly established Central Financing Agencies, i.e. Districts Central Co-operative Banks. This paved the way for linking credit with marketing in the co-operative domain.
To widen the scope of co-operative activities, the bank has helped substantially in promoting not only new co-operative ventures, but also extended technical guidance and managerial expertise to them. Indeed, the Bank has a lion’s share in promoting the first co-operative sugar factory in the country at Pravara Nagar in Ahmednagar district. To promote its activities on a greater scale, the Bank constituted within itself a separate cell, viz. Co-operative Industries Commission, by drawing experts from various universities, technical institutes, industrial houses and consultancy organizations. The bank thus gave fill up to the organization of co-operative and ancillary industries for the production of agricultural inputs such as fertilizers, agricultural machinery like oil engines, pump sets, tractors, etc. The bank also helped to set-up secondary and tertiary industries manufacturing paper, alcohol and lately ethanol based on the by-products of the agro processing industries. Today, the Bank is helping sugar factories in setting up the co-generation projects.
These agro based processing units are financially helped by MSCB & some of these units have promoted and/or helped the localities to start up the professional educational institutes viz. Medical Colleges, Engineering Colleges etc. and spread the education which was dream in semi-urban & rural vicinities.
But this is not surprising given the social commitment of the bank since its inception. Accordingly, the bank has constituted a Credit Stabilization Fund to ably meet natural calamities and at the same time created a Special Credit Stabilization Fund for strengthening Fishery, Agro Co-operatives. The funds are used to rehabilitate poor farmers through PACS and DCCBs.
Another feature of the working of MSCB is the introduction of the Crop Loan System. It was evolved by MSCB jointly with some District Central Co-operative Banks in the state. Following its success, the scheme evoked wide-spread interest and similar experiments were launched in other districts of the state. Ultimately, the scheme was adopted by the Reserve Bank of India for its implementation throughout the country. The Bank thus proved to be a pioneer of the time-tested Crop Loan System.
Apart from this, the Bank took innovative measures to provide facility for issuance of Demand Drafts by devising the Mutual Arrangement Scheme way back in 1931. This scheme for co-operative banks in the state inspired National Federation of State Co-operative Banks (NAFSCOB) to introduce a similar scheme for co-operative banks in the entire country from the sixties. Obviously, the Bank had a lion’s share in its formulation.
There are 31 DCC Banks in the State, out of which 30 Districts Central Co-operative Banks in the state which primarily cater to the financial needs of the agricultural sector. In this endeavor of the District Banks, MSCB plays a pivotal role by providing refinance. The Bank also extends its services to DCCBs and Urban Banks for investments of their funds in government securities by opening Constituent Subsidiary General Ledger (CSGL) accounts. Bank has sanctioned Import/ Export limits to PCB’s / DCCBs on behalf of their customers and helping to promote their forex business. While lending, emphasis is laid on financing Integrated Rural Development Schemes presently known as “Suvarna Jayanti Gram Swarojgar Yojana” to spur multifaceted development of shareholder PACS who are below poverty line, as well as financing schemes of national importance like Bio-Gas Development etc. Thus, waste resources are put to the best use and thereby pollution is minimised. Those district banks which are not eligible for loans under NABARD’s refinance facilities are also provided financial assistance by the Bank out of its own resources at the concessional rate of interest. Another salient feature of the financial assistance extended by MSCB is that although it caters mainly to the needs of the agricultural sector, it takes care of financial needs of the non-farm sector also by providing refinance facility to district banks under NABARD’s general refinance and composite loan schemes to enable them to help rural artisans and small scale industries.
To accelerate the region wise growth of co-operative sector, MSCB opened its Regional, Divisional and Pay Offices. It was felt that this step would take the Bank closer to its customer spread over the state and enables it to serve them better. These offices arrange finance to DCCBs and other Co-operative Institutions and at the same time act as supervisors, closely monitoring Bank’s loans and advances.
DEPARTMENTS AND
FUNCTIONS:
1. Central Financing
Agencies Department:
The Cooperative Movement in Maharashtra is nurse and nourished by Three Tier Cooperative Credit Structure, at the helm of which is the MSCB, at the middle level District Central Cooperative Banks and at the village level Primary Agricultural Cooperative Societies.
MSCB is an Apex institution of all District Central Cooperative Banks & Primary Agricultural Cooperative Societies in Maharashtra State. Central Financing Agencies Department of MSCB caters to the financing needs of District Central Cooperative Banks for providing Agricultural and Non-agricultural advances under various refinance schemes of NABARD. Funds are used to rehabilitate to poor farmers through Primary Agricultural Cooperative Societies and District Central Cooperative Banks. The loans are disbursed through the Regional Offices / Pay Offices of MSCB and utilisation and operations are reported to the department for control purpose. This department also liasions with NABARD for refinance purpose and with Government for required guarantee.
Figures At A Glance
(31.03.2014)
Credit Facilities
Provided And Activities Of Central Financing Agencies Department:
2. AGRO INDUSTRIAL
CO-OPERATIVE DEPARTMENT:
AIC Dept. provides direct finance to co-operative processing units like Sugar Factories, Spinning Mills, Oil Mills, Marketing Co-operatives and other cooperative Industrial Units. AIC dept. processes credit requests from sugar and other processing societies, weavers’ societies, spinning mills besides other apex bodies like Marketing Federation, Maharashtra State Electricity Distribution Company, Food Corporation of India and Indian Farmers Fertilizers Co-operative Limited. etc.
Both Term Loan as well as working Capital loans are sanctioned. The term loans for period of 5 to 7 years are mainly provided for modernization of sugar units, spinning unit’s erection of cogeneration projects, distilleries, solar energy projects etc.
The working Capital limits are given to meet the day to day requirements of the production units. These loans are also disbursed through the Regional / Pay offices and utilization / operations are reported to the department for monitoring purposes. Wherever, required stock statements, inspection reports are prescribed and obtained for supervisory control purpose and ensure proper utilization of funds. Periodical review submitted to Hon’ble Board of Directors.
The department also takes care of the loan documentation including obtaining of third party guarantees and creation of charge on the immovable assets as per the terms and conditions of sanction.
Bank Is Extending
Following Types Of Loans Based On Nature Of Industry:
1. Term Loan
2. Working Capital
A) RISK MANAGEMENT CELL:
a) Banking Business is expanding so much in terms of volume and activities that it seems necessary to analyses and mitigate the various kinds of Risks (Credit, Operational, Market etc.,) involved in our Bank. Taking into consideration the said risks, our Bank has formed Risk Management Cell under Agro industrial Co-operative Department. NABARD had given separate guidelines on Risk Management through its circular dated 24.11.2012, on basis of which our Bank in its Hon’ble Administrative Board meeting dated 13.12.2012 decided to appoint agency to mitigate risks involved in our Banking Business. CRISIL was appointed as per decision taken in Hon’ble Administrative Board - Hon’ble Director Board meeting dated 25.3.2014.
b) CRISIL will “Review and Design Risk Management Frame Work, Develop Risk Assessment Module (RAM) Software, Preparation of Process Manual & Standard Operating Procedures, Training and AMC for 5 years”.
Area to be covered by
CRISIL
The Chief Risk Officer is appointed as a Head of the cell.
B) PROJECT APPRAISAL
AND MARKETING DEPARTMENT
On account of limitations on extending advances to existing activities and need to diversify the loan portfolio there was a felt need to develop new products and borrowers. To address this, Bank formed the Project Appraisal and Marketing Department. The department will appraise projects received from institutions outside the co-operative fold such as educational institutions, industrial units etc. and facilitate diversification of loan port-folio
3. Urban Co-Operative
Banks Department:
The department’s work relates to financing of the Urban Cooperative Banks. The Refinance is sanctioned to UCBs against their advances to the members for hypothecation / pledge of goods and / gold ornaments. In case of finance provided under the special schemes of NHB, RBI, SIDBI, refinance is availed from the respective agencies.
The various types of facilities provided to the UCBs are as under.
Urban Banks department is playing very significant role by guiding UCBs on various issues in day to day working. From the year 2008-09 bank has started system to discuss financial position, fund requirement, collateral etc., with office bearers and officers of Urban Banks before sanctioning loans to them. This department consolidates the statistical information of the UCBs in the state and circulates it among member UCBs.
4. Human Resource
Development And Management Department
Against the backdrop of the stiff competition in the banking sector, the management of MSCB felt the need to develop professional outlook of the employees towards work and thereby prepare them for the challenges of the future. As a result, a comprehensive ‘Human Resource Development and Management Policy’ was put in place, on November 2009.
All the working of the HRDM is going on as per policy. But time to time it has to make some necessary changes, considering the needs of the bank with approval of Hon. Board of Administrators. It takes care of Transfer/Promotion/Training needs of employees.
Preparation of Staffing Pattern for the period 2014-2019, consisting Study Work Load, Staff Strength, Evaluation of Training Requirements of the staff and Redesign the Organizational Structure, Grade Wise Job description and Responsibilities and suggesting changes in H.R. Application Software job is in under process by appointing outside agency.
5. Banking Department
A] Clearing:
Responding promptly and effectively to the call of R.B.I. our Bank implemented C.T.S.facility for own and also for Sub Member Banks at Mumbai, Nagpur, Aurangabad, Nasik, Pune, Kolhapur and Solapur. As on date we handle 20 to 25 thousand cheque per day. Our Hon’ble Administrative Board were concern enough to offer such facility to Cooperative Bank spreaded all over the state that to at least possible charges.
B] Rtgs-Neft:
After offering said service through off line to all Cooperative Institution, we are in process to offer same online by providing ‘Portal’ at all such Cooperative Institution location in nearest future. Complementing the present process, with sixteen digits Account No. Total Inward will be automatic and Portals will make Account operation is self for client.
C] Retail Banking:
In view to cater the financial needs of Individuals, Bank ventured in Retail Banking a decade before, Major scheme are Individual Loans to salaried and self-employed population for vehicle, consumer and Housing Loan etc. Bank recently launched Gold Loan Scheme, Mortgage Loan to Individuals & Firms for enhancement of existing business was introduced recently.
D] A.T.M.:
The Bank has acquired membership of National Financial Switch (NFS) from NPCI to provide ATM services and has installed 2 ATMs (Head Office and Vashi).
6. Treasury
Department
a] Mandatory
Function
Maintenance of minimum Cash Reserve Ratio (CRR) u/s 42 of Reserve Bank of India Act, 1934 & Statutory Liquidity Ratio (SLR) u/s 24 of Banking Regulation Act.1949 are prime responsibilities of Treasury Department
b] Money Market
Operations:
The department monitors daily inflow-outflow of funds through current account with RBI and manage liquidity function of the Bank. Funds required are raised through CBLO/ Repo surplus if any are invested in CBLO/ Call/ Repo/Inter Bank deposits to earn income.
c] Dealing in
Government Securities and Foreign Currencies:
In line with maintaining adequate SLR, department trades in Government Securities, on NDS OM for exploring profit making opportunities. Total investment portfolio stood to INR 10944.13 Cr. as on March 2014 of which INR 5498.78 cr. invested in government Securities.
Forex desk deals in major foreign currencies to support merchant business & in turn takes benefit of price fluctuations in the currencies to earn profit.
d] Servicing GAHs:
The Bank has 368 GILT Account Holders. Gilt Securities held on behalf of these constituents is INR 18,322.32 cr. as on 31st March 2014.
7. Inspection and
Audit Dept.
Inspection and Audit Dept. plays the supervisory role over the borrowing units through the divisional offices by way of inspection and various visits. The observations on the inspection reports are communicated to concerned units. The Compliance on the same are obtained timely to exercise control over borrowing units. The Department also exercises control on field Staff of the Divisional Offices of the Bank by way of scheduled Inspection program. This facilitates effective check and Control over all borrowing units, utilization of funds & recovery of loans of the bank and immediate rectification of observations thereof. Compliance reports on Statutory Audit Report, internal audit memos and Statutory Inspection Report (NABARD), are also placed before the Audit sub-committee and BoA-(BoD) for approval and are forwarded to the concerned.
8. Internal Audit
Dept.
This department undertakes the audit on quarterly basis of all branches, Regional Offices, Pay Offices and Divisional Offices. A separate arrangement is made for the internal audit for Nagpur Regional / Divisional Office and Branches under it. However, test audit of Nagpur RO and its affiliated offices / units are undertaken yearly by the internal Audit Dept.
The audit of income and expenditure, drawls and balance sheet and its statements is the prime and main work of this department. The pre-audit of major items of expenditure, provident fund, gratuity, and income tax, TA / DA etc. is carried out on priority basis.
9. International
Banking Division
With the passage of time and to be in tune with the rapidly changing economic scenario, it was felt that the co-operative sector should not lag behind in foreign exchange business. To meet this requirement, the bank obtained the “Authorised Dealer’s license” from Reserve Bank of India, for undertaking foreign exchange business. The International Banking Division (IBD) of the Bank thus commenced foreign exchange business on 28th May, 1990.
The International Banking Division in accordance with RBI, FEMA, FEDAI directives. Offers following products to its various constituents and its constant endeavor shall be to provide them better and faster services.
Preshipment / Postshipment Credit
Establishment of foreign letter of credit, payment of bills received on collection basis, advance remittance
Purchase and sale of foreign currency notes
Receive foreign inward remittances and also effect outward remittances. i.e. Education Free, Medical Treatment Abroad, Travelling, Maintenance of Family residing abroad, under Liberalised remittance scheme, etc.
External Commercial Borrowings (Buyers/ Suppliers credit)
Foreign cheques collection from customers for credit to their accounts
Issuance of Demand Drafts in various foreign currencies
Issuance of Bank Guarantee on behalf of exporters
Opening of Non Resident Accounts-Non- Resident (Ordinary) Account, Non-Resident (External) Rupee Account, Foreign Currency Non-Resident Account (FCNR), Resident Foreign Currency Account, Resident Foreign Currency (Domestic) Account
Opening of Exchange Earners’ Foreign Currency Account (EEFC)
During the year 2003-04 the Bank installed “SWIFT’ system, to enable quick and safe communication with overseas banks, thereby providing speedy and better services to customers. It put the MSCB in line with commercial and foreign banks. We are maintaining our Nostro Accounts in 4 major currencies abroad i.e. USD,GBP, EURO and JPY.
So far, Bank has Relationship Management Application (RMA) with 41 different banks situated abroad.
10. Information
Technology Department
Our Bank has implemented and operationalized CBS, since March 2011 successfully. The Bank has acquired membership of National Financial Switch (NFS) from NPCI to provided services of ATM and has installed 2 ATMs (Head Office and Vashi). The services are operational since March 2014. NGRTGS facility will be made available to DCC Banks which have implemented CBS. CTS has been implemented at Mumbai, Nagpur, Aurangabad, Nasik, Pune, Kolhapur and Solapur. Bank has well formulated and Board approved I.T. Policy in existence.
11. Corporate
Planning and Institutional Development Department
Corporate Planning and Institutional Development (CPID) Department was formed in Oct 2007 with a view to suggesting measure to transform the Bank into a vibrant and strong institution that would lead its client institutions in the process of economic activities, to achieve socio-economic development through co-operative process.
This department has two sub-sections
The Management
Information System (MIS)
Functions related to preparation of financial statements, Banks Balance Sheet and Annual report and submission of all statutory returns to RBI/NABARD, Execution of Transfer Price Mechanism and has also prepared Business Plan for the period from 2012 to 2017. Our Tax sub-section looks after Income-Tax assessment and Payment of the Bank, Branches and all tax related matters.
Policy Section
Carry out policy related functions viz. defining mission of the Bank, policy formulation, and preparation of schemes for business and support services, suggest innovations in systems and do in-depth analyses of problems through research. Further the functions related to data analysis and interpretation. This section prepares Annual Budget for revenue and capital expenditure for various section of the bank.
This department is taking constant review of interest rate on Deposits and Loans and Advances in light of RBI Policy and market situation. This has given positive impact on banks financial strength. This dept. has also undertaken ALM related analysis which helps to take the decision at management level. Alco Committee has been formed to review Assets and Liability of the Bank. Alco Committee meeting is conducted in every month.
Following Policies / Schemes have been formulated by this Dept.
12. Department for
Institutional Recovery and Revival
With a view to concentrating on effective recovery of the Bank’s credit to borrowing institutions and for possible revival of the eligible units the earlier Recovery Cell of AIC Department was converted in to a new and full-fledged Department of Institutional Recovery and Revival. It carries out the work of assessment of NPA and provisioning (Initiate legal proceedings for recovery of overdue etc.)
Department looks after the recovery of NPAs; Through SROS (Special Recovery Officers under MCS Act) and AOs (Authorising Officers under ‘Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002’).
Handles legal proceedings of recovery, attachment and sale of NPA units.
To facilitate recoveries from distressed accounts bank has formulated “Compromise Settlement Scheme 2012” with consent of Special General Body Meeting held on 08.12.2012. It has got good response and as on 31.03.2014 INR 111.95 Crore were received under this scheme.
13. Legal Department
The Legal Department is basically working as a Co-ordinator between different offices, departments, branches etc. of the bank; as well as Advocates and various Courts, Empanelment of Advocates Review and monitoring of their working and legal cases etc. is controlled through this Department.
Further, Legal Department provides legal opinions from Advocates/Solicitors, considering the need and requirements of the bank.
14. Training
facilities - Shikhar Training and Research Institute
Shikhar Training and Research Institute was started by our Bank on 16-12-2009 as a part of its role to provide need based training in another banking practice to the Co-op. Credit Structure in the State. The Institute, therefore, is working as State Level Agriculture and Cooperative Staff Training Institute (ACSTI) under SOFTCOB – Scheme of Financial Assistance for Training of Coop. Banks introduced in Bank’s own premises. ‘Shikhar’ Vashi imparts training of General Banking and Computer.
Our Nagpur’s Staff Training Center was taken under the arm of Shikhar Training & Research Institute, Vashi and called as ‘Shikhar Training and Research Institute, Nagpur Center’ which imparts training to STCCS of Vidarbha region in General Banking.
Looking to the increasing use of Information Technology in Banking, our bank has set up a Computer Lab at Vashi Center in which full-fledged Computer Training is being conducted. A part from this ‘Shikhar’ conducts training programs for DCCBs at their locations.
During the 2013-14, both the Vashi and Nagpur Channels together had conducted 61 Training Programs, covering 1088 Officers /Staff.
The two Knowledge Management Centers at Vashi and Nagpur are serving the needs of ‘SHIKHAR’. At present, these have 8874 books and 55 periodicals available for references and study.
The STRI has its own library which have various books, periodicals and magazines. At present it has got more than 700 books related to Banking and Cooperatives. Besides this, the participants are provided newspaper on daily basis during training period. It has also got a Television Set installed to provide latest updates to the participants. Air–conditioned Hostel facilities for 29 trainees at a time, have also been provided.
The classroom at STRI is well equipped with a computer and projector installed for conducting training sessions with the help of Audio Visual Media. It has also got an Internet Connection. The classroom got the capacity of accommodating 30 to 35 participants.
15. Functions of
R.Os, P.Os and D.Os
With a view to facilitating disbursement of loans to District Central Co-operative Banks, Urban Co-operative. Banks. Co-operative sugar factories, Co-operative spinning mills and other co-operatives in the State and to exercise effective control and supervision over loan account operations, the bank has been functioning through its 4 Regional Offices, 2 Pay Offices and 8 Divisional Offices. The Bank has 28 Branches in Mumbai, 1 in Navi Mumbai, 11 in Nagpur and 1 each at Aurangabad, Akola and Amravati.
Our bank has set-up 8 Divisional Offices which have a supervisory role over the borrowing units in the respective territory / region. They are basically controlling machinery for inspection and effective loan recovery, which are located at Pune, Kolhapur, Nasik, Vashi, Aurangabad, Nanded, Nagpur and Amravati. The inspection program is prepared by them on half-yearly basis and sent for approval to HO. After HO approval, the monthly tour programs of the inspection machinery is prepared and executed. The inspection reports of the Divisional Officer and Inspecting Officers are sent to the inspection and Audit Department at Vashi where the scrutiny is done and the observations are communicated to the concerned units. Based on these observations, Bank takes corrective measures for recovery of loans. Loan Proposals are also scrutinised at Divisional Office level
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 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.66..10 |
|
UK Pound |
1 |
Rs.100.89 |
|
Euro |
1 |
Rs.73.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
GTA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.