Growth of the Bank

Old in Tradition and Young in Outlook:

TNSC Bank, the Apex Co-operative Bank and the main purveyor of agricultural credit in Tamil Nadu, has completed 99 years of useful and purposeful existence. TNSC Bank is old in tradition but young and dynamic in outlook and action.

Ambition:

The ambition of the TNSC Bank is to feed the people and the Nation with prosperity, by extending its areas of operation and activities to cover all facets of economic spheres and integrated rural development.

Leader of Co-operative Credit Movement:

TNSC Bank is the Leader of the Co-operative Credit Movement in Tamil Nadu for over a century.

First State Coop Bank to Celebrate Centenary Year:

TNSC Bank was the 18th Co-operative Society to be registered in the erstwhile Madras Presidency as “The Madras Central Urban Bank” and this Bank was the first “Central Co-operative Bank” to be established in India.

Commencement of Bussiness:

It was Sir V.C. Desikachariar, Kt. who gave shape to the proposals formulated by Sir P. Rajagopalachariar, the first Registrar of Co-operative Societies. Sir V.C. Desikachariar, Kt. along with 17 eminent personalities sent up to the Registrar of Co-operative Credit Societies an application for the registration of the Bank under the Co-operative Societies Act. The Government, in G.O.Ms. No.1022, Revenue, dated 19.10.1905 accorded the necessary sanction and the Registrar of Co-operative Credit Societies registered the Bank on 23.11.1905. The Bank commenced its business on 26.11.1905.

Initial Authorized Share Capital:

The initial authorized Share Capital was Rs.25000/- divided into 50 shares of Rs.500/- each. The 17 pioneers held one share each, 10 other new members held 11 more shares. The first call of Rs.50/- per share, was made on 26.11.1905. With the addition of 2 more such calls, the paid-up Share Capital @ Rs.150/- per share, aggregated Rs.4200/- as on 31.3.1906.

First Loan:

The first loan was disbursed to No.21 Big Kancheepuram Urban Weavers’ Union on 14.2.1906. The first fixed deposit was received on 14.3.1906. The Bank’s first accounting year ended on 31.3.1906 with a net profit of Rs.20-9-0.

Ten Stages of Growth:

The history of the Tamil Nadu State Apex Co-operative Bank may be divided into ten stages broadly, according to its Constitutional Development. hese ten stages broadly reflect the development of the co-operative Credit Structure at the Apex Level in Tamil Nadu, finally emerging in the three-tier system of agricultural credit, with the primaries at the base or village level, Central Coop. Banks as intermediaries at the Districts level and the State Coop. Bank at the State or Apex level.

The Shareholding in the Bank was confined entirely to individuals. All the 50 shares originally floated were fully subscribed prior to 30.6.1908. 50 new shares were floated in 1908-09 which again was fully subscribed in no time. Towards the close of December 1911, the Bank had become well established and its foundation well laid. The working capital of the Bank then stood at Rs.16 lakhs. Loans aggregating over Rs. 29 lakhs were disbursed to Primary Societies since inception of the Bank.

Department For Current Account:

On 1.7.1911, a department for current accounts was opened. Until then, only fixed deposits were accepted by the Bank.

Raising of Share Capital:

In March 1910, the authorized Share Capital of the Bank was raised to Rs.1.00 Lakh, comprising of 1000 ordinary shares of Rs.100/- each. Again in October 1911, 1000 further shares of Rs.100/- each were floated at a premium of 10%. The shares were over subscribed by six times. In the year 1912, the Bank doubled its Paid-up Share Capital to Rs.2.00 Lakhs the maximum amount allowed under the bylaws. In 1916, the Working Capital was 2.5 times what it was in 1911.

Dividend and Bonus:

The Bank declared a dividend of 10% plus bonus of 2% per share out of its profits for the year ended 30.6.1911.

Formation of District Urban Banks:

Some developments in Co-operative Organisations of outstanding nature took place in 1909-1910. Co-operative Supervising Union at Uttaramellur was registered on 5.8.1910, Salem District Urban Bank on 25.1.1909, Tiruchirapalli District Urban Bank on 25.3.1909 and Coimbatore District Urban Bank on 16.9.1910. The membership of these Banks was also confined to individuals only. The District Central Coop. Banks were financed by this Bank from 1912-1913 along with the Primary Societies directly. Sir V.C. Desikachariar, the Founder-Secretary of the Bank relinquished his post in December 1911.

Admission of Cooperative Societies:

Pursuant to the report by Maclogan Committee on Cooperation, the General Body of the Bank decided on 31.3.1917 to admit Cooperative Societies as shareholders of the Bank. Between April, 1917 and June, 1920, 60 primary Societies and 24 Central Coop. Banks took shares in TNSC Bank. Out of fresh share capital of about Rs.1.50 lakhs exclusively allotted to Coop. Societies in this period, they contributed only a sum of Rs.14620/-. The response from Primary Societies was thus discouraging and therefore, the idea of bringing them into this Bank was abandoned.

Savings Deposit:

Prudential and Savings Deposits were accepted by the Bank for the first time since 1917.

Own Plot:

A plot in 12 grounds in Luz Church Road, Mylapore, Chennai, was purchased by the Bank from out of its Building fund during 1918-1919 and the construction of the Bank’s own building had begun with an advance of Rs.25000/- from the General Funds of the Bank, to be recouped in 10 annual installments from out of the net profits of the Bank.

Conditions for admission of cooperative societies:

• The existing shares (all of which were then held by individuals) be converted into Preference Shares, carry6ing a preferential right to dividend at 9 per cent and to the capital in the event of liquidation.
• Surplus profits, if any, after providing for contributions to Reserve Fund, Dividend and Building Fund, may be utilized with the sanction of the Registrar of Coop. Societies in the extinction of individuals’ shares by paying off Rs.160 per share as against the face value of Rs.100 per share.
• The sum of Rs.25000/- then standing to the credit of the Dividend Equalisation Fund should be reserved for the exclusive benefit of the preference shareholders to be drawn upon, should the annual profits be insufficient to pay in full dividend at 9 percent.
• New ordinary share capital be created; such capital to be issued at par to coop. Societies only. The maximum of the ordinary share capital then created was fixed at Rs.4.00 lakhs. The preferential share capital held by individuals on that date stood at Rs.2.00 lakhs.
• The “Advance” rate should not be reduced without the sanction of the Government who will not sanction such reduction, if it is likely to affect prejudicially the preference shareholders, and
• Three out of the nine seats on the Board would be reserved to Coop. Societies. The relative bylaws were suitably amended and on 1.4.1917, the new constitution came into effect.

Federation of Central Cooperative Banks:

During this period, the Madras Central Urban Bank emerged as a real Federation of Central Coop. Banks, styled as the “Madras Provincial Co-operative Bank Ltd.” The response from the Primary Coop. Societies to avail themselves of the offer of admission to the membership of the Bank was not adequate. Hence, from 1st July, 1920, Central Coop. Banks alone were admitted, as the shareholders of the Bank.

Audit:

The audit of the accounts of the Bank was done by private auditor appointed by the General Body of the Bank since June, 1918.

Recovery of Agricultural Loans:

The practice of recovery of agricultural loans advanced by co-operatives as arrears of land revenue, came into vogue in 1919-1920 by passing of an Act by the Legislative Council.

Board of Management:

In 1920-1921 with the increase in the number of Central Coop. Banks, direct lending by Apex Bank to Primary Societies was reduced and also the indebtedness of Primary Societies to the Apex Bank was also considerably reduced. From 1.7.1920, the Bank having been transformed into a Provincial Coop. Bank, the Board of Management had to be reconstituted on an entirely new basis. Every shareholding Central Bank was allotted a representative to the Board of Management and the Preference Shareholders elected from among themselves 12 members to represent them on the Board, thus the Board of Management consisted of representatives of Central Coop. Banks and individual shareholders, the former preponderating in number.

Constitutional Change

Due to lack of adequate response from the Primary Coop. Societies to avail themselves of the offer of admission to the membership of the Bank, Mr. Hemingway who was the Registrar in 1919, outlined a new scheme – a constitutional change in the set up of our Bank of a far reaching character – for federating the Central Banks into a higher central organization of their own; in other words, to convert the Madras Central Urban Bank into a real Provincial Apex Bank. From 1st July, 1920, Central Coop. Banks alone were admitted as the shareholders of the Bank. Consistent with the policy of placing the Bank on the footing of a true financing agency and balancing center for the Central Banks and affording the latter decisive voice in its management, the redemption of the Preference Shares was started in 1923 and continued until each individual shareholder had only on preference share of the face value of Rs.100 and redemption value of Rs.160/- in the Bank. In order to secure an absolutely predominant voice to the Central Banks, votes at the General Body were taken on the basis of the number of shares held by the members. The Bank thus became practically a federation of Central Coop. Banks, owned by them.

Executive Committee:

The larger size of the new Board necessarily lead to the creation of a smaller body to carry on the day-to-day administration of the Bank. The new Board, therefore, elected at Executive Committee consisting of 9 members, 6 of whom including the President and Vice President were to be residents of Madras – recruited practically though not necessarily from individual shareholders and the remaining three could be non-residents elected from the representatives of Central Coop. Banks. They have office for 3 years. In 1925. By an amendment of the bylaws, the representation to individual shareholders on the Board Of Management was reduced to 5 from 12 and it was also provided that the majority of members in the Executive Committee should be representatives of Central Co-op. Banks. Both in the Board and the Executive Committee, the rule of one man one vote was adopted. Full scope was thus provided for the due pursuit of co-operative principles in the conduct of the affairs of the Bank. While the Executive Committee was carrying on the business of the Bank, the Board of Management decided all questions of policy.

Own Building:

The Bank moved into its own premises constructed in December, 1920 at Luz Church Road, Mylapore, Chennai, on 1.2.1921 and the Bank’s first branch was opened on 17.2.1921 at Armenian Street in George Town.

Surplus Funds:

During 1921-1922, the Government authorized the investment in this Bank of Local Bodies and Municipal Funds, Railway Cess Funds, Local and Municipal Provident Funds, security deposits of municipal officials, jail and Akbari and other municipal renters and contractors, Government servants of every class were permitted to invest or place deposits with this Bank, in terms of G.O.Ms.No.423 Public, dated 21.6.1909. Owing to large influx of money from the above agencies into the District Central Coop. Banks in 1923-1924, the Bank faced the problem of surplus funds and had to invest large amounts in Coop. Banks in Bengal and Burma. This position had continued even upto 1926-1927, when the Bank had to reduce the rates of interest on deposits and to stimulate the demands from Central Coop. Banks for loans, a bonus of 0.5% on the amount of loan applied for within 30.6.1927 was offered under certain conditions to Central Coop. Banks and propaganda in favour of this scheme was carried on by the members of the Executive Committee which yielded handsome results. At the Coop. Bankers’ Conference held on 8.5.1926 presided over by Dr. Pattabhi Sitaramayya, certain important decisions relating to the loaning Operations of Coop. Banks were taken.

Loaning Operations:

Central Coop. Banks could lend money drawn from the Madras Central Urban bank, only for periods not exceeding those for which loans were availed of from Madras Central Urban Bank. There should be no reloaning of recoveries by primary societies, a general information register was prescribed for maintenance by Central Coop. Banks. The need to adopt uniform deposit interest rates by Central Banks, opening of branches by Central Banks, remittance business and opening of current accounts by Central Banks were stressed. At the Bankers’ Conference held on 22.4.1928, it was defined that loans repayable in whole out of the next harvest would be classified as short-term loans. Seasonality discipline of the crop loan system was in vogue even then. The duties and responsibilities of the Administrative Staff in Central Banks were specified to have an effective control over the indebted primary societies.

Debentures:

In 1927-1928, to secure long term money, the Bank floated debentures carrying interest at 5% p.a. and redeemable after 29 years, viz., in 1947, with issue price at 95 percent, and a sum of Rs.214000/- was raised thereby.

Changes In Loaning Policy:

In November, 1920, special permission of the Government was obtained to grant loans to nonmembers against their deposits and in January, 1931, also on the pledge of G.P. Notes. From the early years upto 1920, the bulk of loans granted by the Bank to Primary Societies and Central Banks were of long-term nature ranging from 7 to 10 years. In 1921 and 1922 however, owing to financial stringency, only short term loans ranging from1 to 2 years were granted to the Central Coop. Banks. Since 1927, the Bank’s loaning policy underwent a change and Central Banks were granted loans for periods ranging from 1 to 3 years and in special cases upto 5 years. During 1928-1929, the Bank advanced long-term loans to Land Development Banks upto Rs.75000/- by subscribing to the debentures floated by them.

Grants to Cooperative Education And Propaganda:

The Bank had been making grants to the provincial co-operative union from 1928-1929 for co-operative education and propaganda to the extent of Rs.14000/- per annum (of which Rs.9000/- was earmarked for rural reconstruction work)

The Madras Provincial Co-operative Bank Ltd:

The Silver Jubilee of the Bank was celebrated with all grandeur on 20.6.1931. By a resolution passed at the General Body Meeting of the Bank held on 18.6.1931, the name of the Bank was changed as “The Madras Provincial Co-operative Bank Ltd.”

Scheme For Rectification And Consolidation Of Primary Societies:

During 1930-1931, the Bank embarked on a scheme for rectification and consolidation of Primary Societies through the Central Coop. Banks, in view of the heavy overdues in the societies and the deterioration in the working of many of them. As per the scheme, Central Coop. Banks were subsidized for carrying on the overhaul work to the extent of Rs.28,787.50. To review the progress of work done by the Central Banks and to co-ordinate their activities, an administrative section was set up by the Bank under the special charge of the Vice-President of the Bank to prepare brief reviews on the progress reports from Central Banks for the benefit of the Executive Committee of the Bank.

Benefit to Agriculture And Agriculturists:

During the first 25 years of working, this Bank had lent to primary societies and Central Coop. Banks a sum over Rs.5.50 crores. But for the Coop. Organization, this vast sum of money would not have found its way into rural parts to the benefit of agriculture and agriculturists. In 1930-1931, in agricultural credit societies the working capital deployed was to the tune of Rs.6.50 crores, of which the involvement of the Apex and the Central Coop. Banks was as much as Rs.5.00 crores.

Slash Downing Interest Rates on Deposits:

A peculiar position arose in 1932-1933 when, with an increase of Rs.40 lakhs in the working capital of the Bank, there was practically no scope for deployment of the resources of the Bank adequately and the Bank had to slash down deposit interest rates and also suspend acceptance of fresh deposits.

Purchase of College House (Head Office):

During 1936-1937, the Bank purchased “College House” in the then China Bazaar Road, in George Town at a cost of Rs.1.76 lakhs. This is exactly the site where the Head Office of the Bank is presently functioning. On 1.10.1937, the Head Office of the Bank moved into this building and the Town Branch was merged with the Head Office. The old Head Office of the Bank at Mylapore was converted into a Branch.

New Branches:

During the period 1937-1940, the Bank had opened in all 3 Branches in Mylapore, Egmore and Triplicane, the prominent localities in Madras City.

Redemption Of Debentures:

On 1.12.1940, the Bank redeemed the 5% debentures of the Bank of the face value of Rs.2.15 lakhs, due for redemption in 1947, by giving 6 months notice to the debenture holders as per the terms of issue.

Industrial Advance:

During the year 1940-1941, an industrial advance was made to the Vuyyure Coop. Agricultural, Industrial and Credit Society for purchase and crushing of sugarcane upto 1.14 lakhs tons and the society was able to realize good prices for sugar manufactured.

Scheme of Inspection:

A Scheme of Inspection by the Bank of the working of Sales Societies affiliated to the Central Coop. Banks was introduced in 1942-1943. The scope of inspection by the Bank was enlarged in 1948-1949 when the Inspectors were advised to verify the stocks in Central Coop. Stores, as the stocks were held as security for procurement advances, to Coop. Network through the Central Coop. Banks, the demand for such advances (which were introduced in 1946-1947) was so heavy that the Bank had to pledge its entire holdings in Government promissory notes with Imperial Bank of India, besides borrowing Rs.2.00 crores from the State Government. To provide for all these borrowings, the maximum borrowing power of the Bank was raised to 15 times of its owned funds.

Grants:

The Bank disbursed grants for Rs.9000/- in all to the Central Coop. Banks for development of cottage industries during 1946-1947.

Rediscount Facilities:

The Bank was enabled to secure, for the first time, rediscount facilities with Reserve Bank of India, of short-term agricultural hundies drawn by Central Coop. Banks and this helped the Bank to raise funds to the tune of Rs.60 lakhs and lend money cheaply to the agriculturists for seasonal agricultural operations and for the marketing of crops.

Extension of Credit facilities:

The Bank added yet another chapter in its advances portfolio in 1949-1950 by extending credit for the purchase and distribution of chemical fertilizers and the Weavers Coop. Societies for the production and marketing of handloom cloth, through the Central Coop. Banks. In the year 1951-1952, the facility of rediscounting of short-term agricultural bills extended to the Bank by Reserve Bank of India, was replaced by them, by revolving short-term credit limits to Central Coop. Banks for Seasonal Agricultural Operations and the Marketing of Crops. The slump in textiles and consequent accumulation of handloom goods with the Weavers’ Coop. Societies resulted in the State Government introducing the Weavers’ Relief Scheme, for providing employment to weavers who were supplied yarn from special funds provided for the purpose and the Government agreed to bear losses, if any, incurred in these transactions. During 1952-1953, Reserve Bank of India extended credit facilities to the Bank against commercial bills drawn by the Apex Weavers’ Coop. Society for the purchase and distribution of handloom yarn under Sec.17(4)(c) of the Reserve Bank of India Act and the Apex Bank availed of this limit initially to the extent of Rs.31.90 lakhs.

Appointment of Managing Director:

As per the Tamil Nadu Co-operative Societies’ Act and with effect from 17th October 1970, the Board of Management of the Bank was broad based, providing for representation to the weaker sections of the community, women, backward community, small farmers, etc. The Co-operative Societies’ Act was further amended in July 1973, providing for the appointment of a Managing Director for the Bank, by the State Government of Tamil Nadu, who will be the Chief Executive of the Bank and also be a member of the Board of Management. Representation to preference shareholders of the Bank on the Board of Management of the Bank was withdrawn. The Managing Director appointed shall be an Officer on deputation drawn from the RBI in the rank of the not less than an Assistant Chief Officer of the Agricultural Credit Department or an Officer from the Indian Administrative Service or an Officer not below the rank of a Joint Registrar of Coop. Societies in the Coop. Department of the State Government. The post of Secretary of the Bank was abolished from 1.7.1973.

Incentives for opening new branches:

The Bank introduced the scheme of incentives of Rs.41,250/- to the CCBs for opening new branches.

Amendment to Tamil Nadu Coop. Societies Act:

Towards the end of 1970, the State Government revised the administrative set-up of the State and the CCBs, with the object of providing credit facilities to small farmers and make the Managements broad based, providing for representations to the weaker sections, women, backward community, small farmers, etc., with the amendments to the relevant sections of the Tamil Nadu Coop. Societies Act.

RECONSTITUTION OF BOARD OF MANAGEMENT

• Chairmen of 16 Central Coop. Banks;
• Chairman of the Tamil Nadu Coop. State Land Development Bank Ltd.;
• 3 Members from the Chairmen of Apex Coop. Societies elected from among themselves;
• 3 Members nominated by the Registrar of Coop. Societies from among members of registered Societies not affiliated to any Apex Society; and
• The Additional Registrar of Coop. Societies (Credit) – Ex – Officio.

First sanction of cash credit limit:

During 1971-1972, for the first time, the Bank sanctioned cash credit limit of Rs.25.00 lakhs to the Tamil Nadu Coop. Consumers’ Federation under the centrally sponsored scheme to deal in consumer goods and a medium-term loan of Rs.5.00 lakhs to the Tamil Nadu State Oil and Allied Products Coop. Federation for setting up three oil extraction plants and extended Bank guarantee for purchase of machinery under deferred payment terms of Rs.48.72 lakhs.

Inauguration of Bank’s New Building:

The foundation stone of the Bank was laid on 7-12-1970 and the new building was inaugurated on 25-10-1974. The Head Office of the Bank started functioning in the new building from 11.11.1974.

Cash Certificate Scheme:

As an additional tool for mobilization of deposits, Cash Certificate Scheme was introduced by the Bank in 1975-76.

Discounting of cheque facility:

The facility of discounting of cheques was also extended to longstanding, valued constituents of the Bank.

Appointment of Special Officer:

In terms of the Tamil Nadu Coop. Societies (Appointment of Special Officers) Act, 1976, the Government of Tamil Nadu appointed Thiru. M. Ahmed, I.A.S., as the Special Officer of the Bank, with power to exercise all or any of the functions of the Board of Management or of any Officer of the Bank. The Special Officer assumed charge on the forenoon of 10th June 1976, on which day the term of office of the members of the Board of Management superceded.

Jewel Loan:

With a view to helping the weaker sections of the community in Madras City, the Bank took upon itself the task of providing jewel loans through its branches. The scheme which was started in December 1976 in 3 branches, thereafter extended to 16 more Branches.

Reimbursement facilities to CCBs:

The Bank has also been providing reimbursement facilities to CCBs, in respect of their advances against the security of gold ornaments through their branches as well as loans issued through Primary Credit Societies and Urban Banks.

SELF-EMPLOYMENT LOANS

In keeping with the social aspirations of the nation and to help the weaker sections of the community, the Bank has been issuing loans up to Rs.2000/- for acquisition of capital assets like cycle-rickshaws, sewing machines, wet grinders, mobile ironing units, etc., as self-employment loans. These loans are repayable in monthly instalments within 24 months from the date of availing of the loan.

Loans to salaried employees

In March 1979, the Bank introduced a scheme for issue of loans to salaried employees, who are working in various organizations in the city of Madras and who are not members of the Employees’ Coop. Societies, if any, functioning in their own organizations. Loans are given up to Rs.2000 or two months’ gross salary, whichever is less and have to be repaid in 12 to 24 monthly installments.

Extension of State Drafts Scheme to Urban Banks:

The State Coop. Bank, has for the first time, extended the State Drafts Scheme to Urban Banks, in March 1979.

Special Officer and Managing Director:

In January 1977, the Special Officer of the Bank who was all along discharging the duties of the Board of Management and Chairman of the Bank, was also assigned the duties of the Managing Director of the Bank and was designated as Special Officer and Managing Director of the Bank.

Refinance limits to the Central Coop. Banks:

In 1976-1977, to met the ever increasing demand for loans against gold ornaments, especially from the weaker sections of the community, the Apex Bank sanctioned refinance limits to the Central Coop. Banks for lending direct or through agricultural credit societies/Urban Banks, etc. The Apex Bank itself, for the first time, introduced jewel loan business in a few of its branches.

Loans to self-employed persons and artisans:

The Bank’s programme of issuing loans to self-employed persons and artisans through its branches, was inaugurated by His Excellency the Governor of Tamil Nadu at a colorful function on 30.12.1976.

Crop Verification:

During 1977-1978, the Bank introduced Crop Verification Register at the Society-level to ensure proper utilization of short-term agricultural loans issued to farmers during the year. With a view to make the inspection of CCBs and their affiliated Societies more purposeful and efficient and also to directly involve itself in crop verification to the possible extent, the Apex Bank opened two Regional Offices at Madras and Madurai and in March 1980, added one more Regional Office at Salem.

Consumer Loans

The scheme was introduced in March 1980 for purchase of consumer durables like T.V. sets, radio, refrigerators, etc., and this satisfied the long felt needs of the depositors and helped in a long way in meeting the competition from commercial banks in the matter of deposit mobilization.

Financing to National Consumers’ Coop. Federation Ltd.

For the first time, since November 1980, the Tamil Nadu State Coop. Bank has started financing National Consumers’ Coop. Federation, a national level organization. This finance is intended to help the operations of the Southern Regional Office of NCCF in maintaining the public distribution system active. The assistance has been given in the form of “Bill purchase facility” to the extend of Rs.30.00 lakhs and “Cash credit facility” to the extent of Rs.170.00 lakhs.

Salary Loan

As the profit of the Bank was a low decline, it has been decided to give a boost for Salary Loan. The Salary Loans were issued to various organizations.

Training College

At the instance of NCDC, TNSC Bank has opened a Training Institute in a rental building at Adyar during the year 1989. Subsequently, during the year 1992, the Training College was shifted to the Bank’s own building at Madhavaram Milk Colony, Chennai. We have organized Trainers Training Meet at our Training College in a grand manner during 1996.

Settlement

During the year, the Management of the Bank have entered into Bilateral Settlement on 29.5.1991, 9.5.1996, 24.10.1996 and 8.12.1996 on wages and other service conditions.

NAFSCOB Conference

During this period, we have hosted a Conference of NAFSCOB.

Regional Office

It has been decided to strengthen the Inspection Department of the Bank and to close down the Regional Office of the Bank.

Elected Board

After a long time, elections to Co-operatives were held and duly elected representatives took charge as the Management of the Bank.

Foreign Travel

The Board of Management and the Executive of the Bank have undertaken foreign travel and also undergone training on foreign soil.

Surplus Funds

For the second time in the annals of our Bank’s history, we were faced with a situation of surplus funds without any avenue for lending.

Creation of New Sections

a) Urban Banks b) Human Resources Development c) Organisation & Methods d) Women Entrepreneur Development Section e) Development Action Plan f) Computer g) Treasury

Computerisation

The Bank has taken strong note of the need for computerization of the Bank and serious efforts were taken.

Deposit Manual

We have brought out a Deposit Manual during the year 1997.

90th Year Celebration

To commemorate the 90th year of our Bank, a beautiful wrist watch was presented to each and every staff of the Bank working in our Bank as well as for the retired staff members of the Bank.

National Seminar

In collaboration with the University of Madras, a Seminar was organized. The Seminar was an historic one.

Contribution for social cause

TNSC Bank has contributed for various social causes from time to time from Common Good Fund.

Branches

The Bank has 45 branches in various part of Chennai City. Since the branches are located in the residential areas, they work in two shifts in the morning and the evening to suit the convenience of the members of the public except on Saturdays, when the Branches work in the morning session only. However, subsequently working hours of the Branches have been changed and at present Branches are working in single shift.

Training

The Bank gives intensive training to the newly recruited Assistants for about two months before assigning them regular work. The training covers both theory and practice. Refresher courses are also arranged for the benefit of the Managers to acquaint them with the modern trends and on subjects connected with banking. It is proposed to extend this to the benefit of Asst. Managers also. The Bank also deputes its Officers to various training courses offered by the Bankers’ Training College, Bombay, College of Agricultural Banking, Pune, Bankers Institute of Rural Development (BIRD), Lucknow, VAMNICOM, Pune, RTC, NABARD, Mangalore, RBI Staff College, Madras, etc. In addition, the Bank’s Officers participate in various Seminars, etc., arranged in the City on subjects connected with Banking, Finance, etc.

Publicity

To give publicity to its various deposit schemes, the Bank has been advertising through the media of newspapers, periodicals, hoardings, wall paintings, cinema slides, leaflets, handouts, radio and television. The deposit schemes are also displayed in show cases at the Head Office and posters at the Branches. The Bank also opens temporary branches at Trade Fairs and Exhibitions. The Bank has provided Traffic Indicators (with the name and emblem of the Bank painted thereon) at select junctions in Chennai City.