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FINANCE
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JOINT STOCK BANKS
There are at present thirteen joint-stock banks in Jalgaon
district, twelve of which are branch offices of the banks which have
their registered offices outside the district and the one is the pay-office of the Bank of Baroda located at Pachora. The names of
all the hanks in the district, their location and the year of establishment are given below: —
|
Name |
Location |
Year of establishment |
|
(1) |
(2) |
(3) |
|
The State Bank of India |
Jalgaon | 1909 |
|
The State Bank of India |
Bhusawal |
1952 |
|
The State Bank of India |
Pachora | 1953 |
|
The State Bank of India |
Amalner | 1953 |
|
The State Bank of India |
Chalisgaon |
1956 |
|
The Bank of Baroda |
Jalgaon | -- |
|
The New Citizen Bank of India |
Jalgaon | -- |
|
The Laxmi Bank |
Jalgaon | 1943 |
|
The Laxmi Bank |
Bhusawal |
1945 |
|
The Bank of Maharashtra |
Chalisgaon |
1946 |
|
The Punjab National Bank |
Jalgaon | 1946 |
The State Bank of India has the largest number of branches in the district and these branches act as agents to the Reserve Bank of India and provide remittance and exchange facilities to other banks and the public. Government business is also handled at these branches. A few small business
centers in the district are also worked on an outstation basis where accommodation is granted to merchants against the pledge of merchandise and marketable produce of the area.
Predominance of agriculture in the district did not facilitate the development of banking and people naturally bad to resort to
money-lenders to meet their monetary needs. However, with the attainment of slightly prosperous conditions in the post-war years due to higher prices prevailing in the agricultural market, the total banking business in the district grew considerably. The people in general and the farmers in particular have gradually begun to develop banking habits and most of the banks have reported receipt of large deposits from the villagers. However, restrictions recently imposed by the Reserve Bank of India in respect of advances against
food grains and other commodities, of consumption have considerably affected the banking business in the district.
Banking Development.
Banking in Jalgaon has developed at a faster rate than in most
of the other districts of the State excluding Bombay, Poona and
Nasik due to the commercial prosperity of the tract. The accompanying tables give us figures of financial operations of various banks in the district.
TABLE No.9
OWNERSHIP OF DEPOSITS, JALGAON DISTRICT
|
Deposits of |
Rs. 50,000 and above |
Between Rs. 10,000 and Rs. 50.000 |
Between Rs. 5.000 and Rs. 10,000 |
Between Rs. 1,000 and Rs. 5,000 |
|
No of Accts, |
Amount |
No of Accts. |
Amount |
No. of Accts. |
Amount |
No of Accts. |
Amount |
|
(1) |
(2) |
(3) |
(4) |
(5) |
(6) |
(7) |
(8) |
(9) |
| | |
Rs. |
|
Rs. |
|
Rs. |
|
Rs. |
A. Fixed Deposits |
|
1. Business |
2 |
1,45,000 |
6 |
1.35,000 |
2 |
10,000 |
16 |
37,000 |
2. Personal |
-- |
-- |
41 |
6,67,500 |
24 |
1,70.950 |
164 |
3,86.600 |
3. Public Institutions and Trusts |
-- |
-- |
-- |
-- |
-- |
-- |
1 |
5,000 |
4. Others |
-- |
-- |
1 |
20,10,000 |
1 |
5,0000 |
5 |
15,700 |
Total |
2 |
1,45,000 |
52 |
28,12,500 |
27 |
1,85,950 |
186 |
4,44,300 |
B. Current Account Deposits |
|
1. Manufacturing Concerns. |
-- |
-- |
2 |
83,000 |
1 |
10,000 |
10 |
17,437 |
2. Trading Concerns. |
8 |
5,34,000 |
4 |
83,400 |
9 |
63,156 |
96 |
2,00,819 |
3. Personal |
8 |
2,19,000 |
2 |
26,900 |
5 |
32,5o0 |
60 |
1,49,169 |
4. Banking Companies. |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
5. Others |
13 |
7,11,000 |
2 |
32,100 |
1 |
5,200 |
30 |
66,200 |
Total |
29 |
14,64,000 |
10 |
2,25,400 |
16 |
1,10,916 |
196 |
4,33,625 |
TABLE No.9-contd..
|
Deposits of |
Between Rs. 500 and Rs. 1,000 |
Rs. 300 and below |
Total. |
|
Accts. |
Amount |
No. of Accts. |
Amount |
No. of' Accts. |
Amount |
|
(1) |
(10) |
(11) |
(12) |
(13) |
(14) |
(15) |
| | |
Rs. |
|
Rs. |
|
Rs. |
A. Fixed Deposits |
1. Business |
12 |
10,100 |
10 |
2,150 |
48 |
3,39,250 |
2. Personal |
59 |
43,800 |
209 |
43.250 |
497 |
15 16,100 |
3. Public Institutions and Trusts |
1 |
600 |
-- |
-- |
2 |
5,600 |
4. Others |
1 |
500 |
12 |
2.630 |
24 |
20,31850 |
|
Total |
73 |
57,000 |
231 |
48,050 |
571 |
36,92.800 |
B. Current Account Deposits |
1. Manufacturing Concerns. |
5 |
4,600 |
1 |
22 |
19 |
1,15,059 |
2. Trading Concerns. |
28 |
18,502 |
219 |
24,408 |
364 |
9,24,285 |
3. Personal |
16 |
11,900 |
124 |
24,180 |
215 |
4,63,709 |
4. Banking Companies. |
-- |
-- |
-- |
-- |
-- |
-- |
5. Others |
89 |
63,700 |
71 |
10,034 |
206 |
8,88,234 |
|
Total |
138 |
98,702 |
415 |
58,644 |
804 |
23,91,287 |
TABLE No. 9—contd.
OWNERSHIP OF DEPOSITS, JALGAON DISTRICT—cnntd.
|
Deposits of |
Rs. 50,000 and above |
Between Rs. 10,000 and Rs. 50,000 |
Between Rs. 5,000 and Rs. 10,000 |
Between Rs. 1,000 and Rs. 5,000 |
|
No. 1 of Accts. |
Amount |
No. of Accts. |
Amount |
No. of Accts. |
Amount |
No. of Accts. |
Amount |
|
(1) |
(2) |
(3) |
(4) |
(5) |
(6) |
(7) |
(8) |
(9) | |
Rs. |
|
Rs. |
|
Rs. |
|
Rs. |
C. Savings Accounts Deposits |
|
1. Business |
-- |
-- |
1 |
22,934 |
-- |
-- |
5 |
12,507 |
2. Personal |
-- |
-- |
5 |
88,125 |
14 |
93,686 |
440 |
9,98,232 |
3. Banking Companies. |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
4. Others |
-- |
-- |
-- |
-- |
9 |
21,000 |
1 |
5,000 |
Total |
-- |
-- |
6 |
1,11,059 |
23 |
1,14,686 |
446 |
10,15,739 |
D. Other Deposits |
|
1. Manufacturing Concerns. |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
2. Trading Concerns. |
-- |
3. Personal |
-- |
-- |
-- |
- |
-- |
-- |
2 |
2,000 |
4. Banking Companies. |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
5. Others |
-- |
-- |
-- |
-- |
1 |
6,000 |
-- |
-- |
Total |
-- |
-- |
-- |
-- |
1 |
6,000 |
2 |
2,000 |
Total Deposits |
|
1. Manufacturing Concerns. |
-- |
-- |
2 |
83,000 |
1 |
10,000 |
10 |
17,437 |
2. Trading Concerns. |
8 |
5,34,000 |
4 |
83,400 |
9 |
63,156 |
96 |
2,00,819 |
3. Personal |
8 |
2,19,000 |
48 |
7,82,525 |
43 |
2,97,196 |
666 |
15,38,001 |
4. Banking Companies. |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
5. Business |
2 |
1,45,000 |
7 |
1,57,934 |
2 |
10,000 |
21 |
49,507 |
6. Public Institutions and Trusts |
-- |
-- |
-- |
-- |
-- |
-- |
1 |
5,000 |
7. Others |
13 |
7,11,000 |
7 |
20,42,100 |
12 |
37,200 |
36 |
84,900 |
continued..
|
Deposits of |
Between Rs. 500 and Rs. 1,000 |
Rs. 500 and below |
Total |
|
No. of Acts. |
Amount |
No. of Accts. |
Amount |
No. of Accts. |
Amount |
|
(1) |
(10) |
(11) |
(12) |
(13) |
(14) |
(15) |
| | |
Rs. |
|
Rs. |
|
Rs. |
C. Savings Accounts Deposits |
1. Business |
4 |
3,385 |
35 |
4,222 |
45 |
43.048 |
2. Personal |
49 |
33,746 |
1,515 |
1,43,047 |
2,023 |
13,56,836 |
3. Banking Companies. |
-- |
-- |
-- |
-- |
-- |
-- |
4. Others |
2 |
1,503 |
10 |
1,217 |
22 |
28,720 |
|
Total |
55 |
38,634 |
1,560 |
1,48,486 |
2,090 |
14,28,604 |
D. Other Deposits |
1. Manufacturing Concerns. |
-- |
-- |
-- |
-- |
-- |
-- |
2. Trading Concerns. |
3. Personal |
-- |
-- |
-- |
-- |
2 |
2,000 |
4. Banking Companies. |
-- |
-- |
-- |
-- |
-- |
-- |
5. Others |
-- |
-- |
-- |
-- |
1 |
6,000 |
|
Total |
-- |
-- |
-- |
-- |
3 |
8,000 |
Total Deposits |
-- |
1. Manufacturing Concerns. |
5 |
4,600 |
1 |
22 |
19 |
1.15,059 |
2. Trading Concerns. |
28 |
18,502 |
219 |
24,408 |
364 |
9,24.285 |
3. Personal |
124 |
91,446 |
1,848 |
2,10,477 |
2,737 |
31,38,645 |
4. Banking Companies. |
-- |
-- |
-- |
-- |
-- |
-- |
5. Business |
16 |
13,485 |
45 |
6,372 |
93 |
3,82,298 |
6. Public Institutions and Trusts |
1 |
600 |
-- |
-- |
2 |
5,600 |
7. Others |
92 |
65,703 |
93 |
13,901 |
253 |
29,54,804 |
TABLE No. 10
ANALYSIS OF ADVANCES OF SCHEDULED AND NON-SCHEDULED BANKS ACCORDING TO SECURITY
|
|
Year ended 1958 |
Year ended 1957 | |
Number of Accounts |
Amount |
Percentage to total advances |
Number of Accounts |
Amount |
|
(1) |
(2) |
(3) |
(4) |
(5) |
(6) |
I. Secured Advances— |
|
Rs. | |
Rs. nP. |
(1) Government and Trustee Securities. |
-- |
-- |
-- |
2 |
1,328.20 |
(2) Shares and Debentures of Joint-Stock Companies, etc. |
1 |
5,000 |
0.23 |
2 |
15,142.00 |
(3) Gold and Silver Bullion, Gold and Silver Ornaments. |
65 |
67,268 |
-- |
83 |
1,04,891.00 |
(4) Merchandise— |
-- |
(a) Agricultural Commodities. |
18 |
19,65,822 |
-- |
15 |
26,68,518.00 |
(b) Non-agricult u r a 1 Commodities. |
7 |
2,03,908 |
-- |
3 |
37,635.00 |
(5) Real Estate— |
-- |
(a) Agricultural Land |
-- |
-- |
-- |
-- |
-- |
(b) Other Properties |
-- |
-- |
-- |
-- |
-- |
(6) Fixed Deposits |
18 |
40,832 |
-- |
24 |
32,854.00 |
(7) Other secured advances. |
4 |
17,347 |
-- |
6 |
30,680.00 |
Total |
113 |
23,00,177 |
0.23 |
135 |
28,91,048.20 |
II. Unsecured Advances |
23 |
2,99,031 |
-- |
28 |
1,63,195.00 |
Total of I and II |
136 |
25,99,208 |
0.23 |
163 |
30,54,243.20 |
It will be seen from Table on page 421 that owing to the growth of trade in cotton and bananas, many of the trading concerns as well as the business sections are making heavy investments in the form of fixed and savings deposits in banks. The important manufacturing concerns in Jalgaon are the textile mills. But they are few in number. Their deposits, therefore, form a comparatively smaller part of the total value of deposits with the banks.
The foregoing table gives us an analysis of advances of these hanks according to security. As elsewhere, banks are most willing to make advances against the security of gold and silver bullion and gold and silver ornaments. Advances against merchandise of
goods, too. show a higher percentage. Of all the tangible securities " real estate " does not seem to have been favoured by the banks. The reason is not that the hanks are unwilling to accept it as a security but that the advances against it are generally made by the land mortgage hanks and other co-operative institutions.
However, it cannot he said that banking operations have developed because people's banking habits ate yet to develop. Inadequacy of the means of transport and communication proves an additional obstacle in the development of banking. Financial operations of banks are, therefore, very much limited. Now that the state bank is opening its branches in every taluka of the district and that the Government is taking increasing interest in the development of communications and roads, the hanks have an important role to play in future in respect of
financial operations.
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