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BANKING TRADE AND COMMERCE
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BANKING
With shortcomings resulting from unfavourable physical factors, Kolaba district has long since remained backward both agriculturally and industrially. Banking business, therefore, is very little developed in it. At the time the old District Gazetteer was published there were no banking establishments in Kolaba district. The beginning of banking may be said to have been made as late as 1925 when the first co-operative bank, viz., the Pen Urban Cooperative Bank, Ltd., was established at Pen. The joint-stock bank came even later than this. At present there are only three joint-stock banks in the district. All these are branch offices of banks
registered outside the district. The names of these banks, their location and
the year of their establishment are given below: ―
|
Name |
Location |
Year of establishment | |
(1) The State Bank of India |
Alibag |
1956. | |
(2) The New Citizen Bank of India Ltd., |
Mahad |
-- | |
(3) The Bank of Maharashtra Ltd., |
Panvel |
-- |
Of these the first one, viz., the State Bank of India was opened at
Alibag on 7th December 1956. Arrangements are in progress to
open offices of the Bank at Mahad and Panvel. The State Bank
conducts Government business and affords remittance and
exchange facilities to local banks and public.
All the joint-stock banks in the district including the State Bank of India provide the usual banking facilities to the public including the financing of trade and agriculture and storage and movement of agricultural produce. The main object of many of these banks is to encourage the habit of banking especially in rural areas and to cater to the financial needs of rural population through their offices.
TABLE No. 10
OWNERSHIP OF DEPOSITS (FIXED DEPOSITS), 1955.
|
Type |
Name of the Bank |
Rs.
50,000 and above |
Between
Rs. 50,000 and Rs. 10,000 |
Between
Rs. 10,000 and Rs. 5,000 |
Between
Rs. 5,000 and Rs. 1,000 | |
No. of
Accts. |
Amount |
No. of
Accts. |
Amount |
No. of
Accts. |
Amount |
No. of
Accts. |
Amount |
|
Business |
|
|
Rs. |
|
Rs. |
|
Rs. |
|
Rs. |
New Citizen Bank |
-- |
-- |
-- |
-- |
1 |
7,000 |
12 |
32,000 | |
Bank of Maharashtra |
-- |
-- |
2 |
25,000 |
4 |
40,000 |
2 |
5,000 | |
Total |
-- |
-- |
2 |
25,000 |
5 |
47,000 |
14 |
37,000 |
|
Personal |
New Citizen Bank |
-- |
-- |
3 |
31,000 |
4 |
21,000 |
27 |
65,600 | |
Bank of Maharashtra |
-- |
-- |
1 |
12,000 |
-- |
-- |
17 |
31,900 | |
Total |
-- |
-- |
4 |
43,000 |
4 |
21,000 |
44 |
97,500 |
|
Public Institutions and Trusts. |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- | |
Bank of Maharashtra |
-- |
-- |
1 |
20,000 |
-- |
-- |
-- |
-- | |
Total |
-- |
-- |
1 |
20,000 |
-- |
-- |
-- |
-- | |
Others |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- | |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- | |
Total |
New Citizen Bank |
-- |
-- |
3 |
31,000 |
5 |
28,000 |
39 |
97,600 | |
Bank of Maharashtra |
-- |
-- |
4 |
57,000 |
4 |
40,000 |
19 |
36,900 |
continued..
|
Type |
Name of the Bank |
Between Rs. 1,000 and Rs. 500 |
Rs. 500 and below |
Total |
|
No. of Accts. |
Amount |
No. of Accts. |
Amount |
No. of Accts. |
Amount |
|
Business |
|
|
Rs. |
|
Rs. |
|
Rs. |
New Citizen Bank |
2 |
2,000 |
3 |
1,200 |
18 |
42,200 |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
8 |
70,000 |
|
Total |
2 |
2,000 |
3 |
1,200 |
26 |
1,12,200 |
|
Personal |
New Citizen Bank |
11 |
8,800 |
19 |
7,250 |
64 |
1,33,650 |
Bank of Maharashtra |
16 |
10,700 |
9 |
2,000 |
43 |
56,600 |
|
Total |
27 |
19,500 |
28 |
9,250 |
107 |
1,90,250 |
|
Public Institutions and Trusts. |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
1 |
20,000 |
|
Total |
-- |
-- |
-- |
-- |
1 |
20,000 |
|
Others |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total |
New Citizen Bank |
13 |
10,800 |
22 |
8,450 |
82 |
1,45,350 |
Bank of Maharashtra |
16 |
10,700 |
9 |
2,000 |
52 |
1,46,600 |
TABLE No. 11
OWNERSHIP OF DEPOSITS (CURRENT ACCOUNT DEPOSITS), 1955.
|
Type |
Name of the Bank |
Rs. 50,000 and above |
Between Rs. 50,000 and Rs. 10,000 |
Between Rs. 10,000 and Rs. 5,000 |
Between Rs. 5,000 and Rs. 1,000 |
|
No. of Accts. |
Amount |
No. of Accts. |
Amount |
No. of Accts. |
Amount |
No. of Accts. |
Amount |
|
|
|
|
Rs. |
|
Rs. |
|
Rs. |
|
Rs. |
|
Manufac-turing concerns. |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
1 |
2,400 |
|
Total |
-- |
-- |
-- |
-- |
-- |
-- |
1 |
2,400 |
|
Trading concerns. |
New
Citizen Bank | -- |
-- |
-- |
-- |
2 |
13,146 |
6 |
10,498 |
Bank of Maharashtra |
-- |
-- |
3 |
38,965 |
1 |
20,254 |
14 |
35,757 |
|
Total |
-- |
-- |
3 |
38,965 |
3 |
33,400 |
20 |
46,255 |
|
Personal |
New
Citizen Bank | -- |
-- |
-- |
-- |
1 |
6,575 |
4 |
6,976 |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
9 |
23,788 |
|
Total |
-- |
-- |
-- |
-- |
1 |
6,575 |
13 |
30,764 |
|
Banking Compan-ies. |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Others |
New Citizen Bank |
-- |
-- |
2 |
27,546 |
-- |
-- |
2 |
4,630 |
Bank of Maharashtra |
-- |
-- |
1 |
19,259 |
1 |
8,070 |
2 |
6,532 |
|
Total |
-- |
-- |
3 |
46,805 |
1 |
8,070 |
4 |
11,262 |
|
Total |
New Citizen Bank |
-- |
-- |
2 |
27,546 |
3 |
19,721 |
12 |
22,104 |
Bank of Maharashtra |
-- |
-- |
4 |
58,224 |
2 |
28,324 |
26 |
68,577 |
|
Total |
-- |
-- |
6 |
85,770 |
5 |
48,045 |
38 |
90,681 |
continued..
|
Type |
Name of the Bank |
Between Rs. 1,000 and Rs. 500 |
Rs. 500 and below |
Total |
|
No. of Accts. |
Amount |
No. of Accts. |
Amount |
No. of Accts. |
Amount |
|
|
|
|
Rs. |
|
Rs. |
|
Rs. |
|
Manufacturing concerns. |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
|
Bank of Maharashtra |
-- |
-- |
-- |
-- |
1 |
2,400 |
|
Total |
-- |
-- |
-- |
-- |
1 |
2,400 |
|
Trading concerns. |
New Citizen Bank |
2 |
1,702 |
32 |
2,509 |
42 |
27,855 |
|
Bank of Maharashtra |
16 |
11,091 |
54 |
8,750 |
88 |
1,14,817 |
|
Total |
18 |
12,793 |
86 |
11,259 |
13 |
1,42,672 |
|
Personal |
New Citizen Bank |
1 |
506 |
37 |
2,704 |
43 |
16,761 |
|
Bank of Maharashtra |
2 |
1,399 |
56 |
6,580 |
67 |
31,767 |
|
Total |
3 |
1,905 |
93 |
9,284 |
110 |
48,528 |
|
Banking Companies. |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
|
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
|
Others |
New Citizen Bank |
3 |
1,897 |
2 |
846 |
9 |
34,919 |
|
Bank of Maharashtra |
2 |
1,316 |
13 |
1,027 |
19 |
36,304 |
|
Total |
5 |
3,213 |
15 |
1,873 |
28 |
71,223 |
|
Total |
New Citizen Bank |
6 |
4,105 |
71 |
6,059 |
94 |
79,535 |
|
Bank of Maharashtra |
20 |
13,806 |
123 |
16,357 |
175 |
1,85,288 |
|
Total |
26 |
17,911 |
194 |
22,416 |
269 |
2,64,823 |
TABLE No. 12
OWNERSHIP OR DEPOSITS (SAVINGS ACCOUNT DEPOSITS), 1955.
|
Type |
Name of the Bank |
Rs. 50,000 and above |
Between Rs. 50,000 and Rs. 10,000 |
Between Rs. 10,000 and Rs. 5,000 |
Between Rs. 5,000 and Rs. 1,000 |
|
No. of Accts. |
Amount |
No. of Accts. |
Amount |
No. of Accts. |
Amount |
No. of Accts. |
Amount |
|
Business |
|
|
Rs. |
|
Rs. |
|
Rs. |
|
Rs. |
|
New Citizen Bank |
-- |
-- |
1 |
10,866 |
-- |
-- |
8 |
12,522 |
|
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total |
-- |
-- |
1 |
10,866 |
-- |
-- |
8 |
12,522 |
|
Personal |
New Citizen Bank |
-- |
-- |
2 |
22,318 |
3 |
22,127 |
36 |
77,076 |
|
Bank of Maharashtra |
-- |
-- |
1 |
12,900 |
3 |
17,900 |
58 |
1,06,700 |
|
Total |
-- |
-- |
3 |
35,218 |
6 |
40,027 |
94 |
1,83,776 |
|
Banking Compan-ies. |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Others |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
1 |
3,000 |
|
Bank of Maharashtra |
-- |
-- |
-- |
-- |
2 |
17,000 |
5 |
10,400 |
|
Total |
-- |
-- |
-- |
-- |
2 |
17,000 |
6 |
13,400 |
|
Total |
New Citizen Bank |
-- |
-- |
3 |
33,184 |
3 |
22,127 |
45 |
92,598 |
|
Bank of Maharashtra |
-- |
-- |
1 |
12,900 |
5 |
34,900 |
63 |
1,17,100 |
continued..
|
Type |
Name of the Bank |
Between Rs. 1,000 and Rs. 500 |
Rs. 500 and below |
Total |
|
No. of Accts. |
Amount |
No. of Accts. |
Amount |
No. of Accts. |
Amount |
|
Business |
|
|
Rs. |
|
Rs. |
|
Rs. |
New Citizen Bank |
3 |
1,859 |
22 |
4,663 |
34 |
29,910 |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total |
3 |
1,859 |
22 |
4,663 |
34 |
29,910 |
|
Personal |
New Citizen Bank |
37 |
26,232 |
408 |
36,892 |
486 |
1,84,645 |
Bank of Maharashtra |
32 |
22,300 |
678 |
47,900 |
772 |
2,07,700 |
|
Total |
69 |
48,532 |
1,086 |
84,792 |
1,258 |
3,92,345 |
|
Banking Companies. |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total |
-- |
-- |
-- |
-- |
-- |
-- |
|
Others |
New Citizen Bank |
-- |
-- |
-- |
-- |
1 |
3,000 |
Bank of Maharashtra |
1 |
900 |
6 |
300 |
14 |
28,600 |
|
Total |
1 |
900 |
6 |
300 |
15 |
31,600 |
|
Total |
New Citizen Bank |
40 |
28,091 |
430 |
41,555 |
521 |
2,17,555 |
Bank of Maharashtra |
33 |
23,200 |
684 |
48,200 |
786 |
2,36,300 |
TABLE No. 13
OWNERSHIP OF DEPOSITS (OTHER DEPOSITS), 1955.
|
Type |
Name of the Bank |
Rs. 50,000 and above |
Between Rs. 50,000 and Rs. 10,000 |
Between Rs. 10,000 and Rs. 5,000 |
Between Rs. 5,000 and Rs. 1,000 |
|
No. of Accts. |
Amount |
No. of Accts. |
Amount |
No. of Accts. |
Amount |
No. of Accts. |
Amount |
|
|
|
|
Rs. |
|
Rs. |
|
Rs. |
|
Rs. |
|
Manufactur-ing concerns. |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Trading concerns. |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Personal |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Banking Companies. |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Others |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
1 |
3,000 |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total |
-- |
-- |
-- |
-- |
-- |
-- |
1 |
3,000 |
continued..
|
Type |
Name of the Bank |
Between Rs. 1,000 and Rs. 500 |
Rs. 500 and below |
Total |
|
No. of Accts. |
Amount |
No. of Accts. |
Amount |
No. of Accts. |
Amount |
|
|
|
|
Rs. |
|
Rs. |
|
Rs. |
|
Manufacturing concerns. |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total |
-- |
-- |
-- |
-- |
-- |
-- |
|
Trading concerns. |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total |
-- |
-- |
-- |
-- |
-- |
-- |
|
Personal |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total |
-- |
-- |
-- |
-- |
-- |
-- |
|
Banking Companies. |
New Citizen Bank |
-- |
-- |
-- |
-- |
-- |
-- |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total |
-- |
-- |
-- |
-- |
-- |
-- |
|
Others |
New Citizen Bank |
-- |
-- |
-- |
-- |
1 |
3,000 |
Bank of Maharashtra |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total |
-- |
-- |
-- |
-- |
1 |
3,000 |
|
