RNCOS Research: Indian Co-operative Banks to Oppose Tax Imposition
The Agricultural Credit Co-operative Societies Act in 1904 ignited the beginning of the Indian co-operative banks. These banks were the major suppliers of services in the rural areas. There, the co-operative banks primarily finance agricultural activities including farming, livestock, milk and milk products, pottery, and personal finance. It also covers small-scale industries and self-employment activities. The urban co-operative banks provide finance in areas of industries, self-employment, small-scale sector, home finance, personal finance etc.
According to the Reserve Bank of India, the apex bank in the country, the deposits in co-operative banks increased by only a few percentages while on the other hand the loan advances and investments dropped by 2-3 % respectively during the financial year 2005-06.
RNCOS has recently published a report namely "Indian Banking Sector Analysis (2006-2007)" in which, the market research organization investigates and describes the co-operative banking structure in India, which comprises the urban co-operative and rural co-operative banks. The report projects that India has 1,875 urban co-operative banks and more than 1,06,921 rural co-operative institutions. At March-end 2005, the total urban co-operative banks (UCB) included 80 salary earners' banks and 120 'Mahila' banks. And the scheduled urban co-operative banks were 55 during the same period.
On the basis of deposits in these urban co-operative banks, RNCOS makes the following segmentation:
· 40% of UCBs have less than Rs.10 crore as deposits.
· 25% have deposits in the range of Rs.10-25 crore, and
· Only 16% have deposits over Rs.25-50 crore.
The market research report has conducted an extensive research to provide an objective analysis on the growing Indian banking sector, their product and services quality in the country. There is also a detailed market sizing, a three-year forecast of the banking industry to give a picture of the future scenario till 2010.
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RNCOS Research: Indian Co-operative Banks to Oppose Tax Imposition
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