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FINANCE
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JOINT STOCK BANKS
Development of Banking in the district is of a very recent origin as till 1914, there was not a single banking institution in the district. The first bank to be established at Ratnagiri was the Ratnagiri Urban Co-operative Bank Ltd., established in 1914. In 1958 there were four Banks functioning in the Ratnagiri district at the district headquarters, viz.: -
(1) State Bank of India,
(2) Bank of Maharashtra,
(3) The Canara Industrial and Banking Syndicate Ltd.,
(4) The Bank of Konkan.
All these banks are providing the usual banking facilities to the public including the financing of trade and agriculture and of storage and movement of agricultural produce. Besides these banks there are eight Urban Co-operative Banks and a large number of agricultural credit societies operating in the district and catering to the needs of the agriculturists. They have already been described in the preceding pages.
Following is an account of the Banks functioning at Ratnagiri proper: -
A branch of the State Bank of India, was opened at Ratnagiri on 10th December 1956. The branch conducts the usual banking business. In addition, as an agent of the Reserve Bank of India, it transacts Government business and affords remittance and exchange facilities to local banks and public.
The Bank of Maharashtra opened its branch office at Ratnagiri in 1956.
The Canara Industrial and Banking Syndicate, Ltd., has got three branches in the district at-(1) Ratnagiri, (2) Malvan, and (3) Vengurla.
The Bank of Konkan Ltd., has its head office at Malvan, and five branch offices in the district, at the following places: -
(1) Ratnagiri,
(3) Sawantwadi,
(2) Kudal,
(4) Banda,
(5) Phondaghat,
In 1958, there were, in all, eleven offices of joint-stock banks in the Ratnagiri district. Of these, only one bank, namely, the Bank of Konkan has its registered office in the district, while the rest were branch offices of the banks which had their registered offices outside the district. The names of the banks and their locations are given below:- |
Banks. |
Locations. | |
(1) The Bank of Maharashtra. |
Ratnagiri. | |
(2) The Canara Industrial and Banking Syndicate, Ltd. |
Ratnagiri. | |
(3) The Canara Industrial and Banking Syndicate, Ltd. |
Malvan. | |
(4) The Canara Industrial and Banking Syndicate, Ltd. |
Vengurla. | |
(5) The Bank of Konkan Ltd. |
Ratnagiri. | |
(6) The Bank of Konkan Ltd. |
Kudal. | |
{7) The Bank of Konkan Ltd. |
Sawantwadi. | |
(8) The Bank of Konkan Ltd. |
Banda. | |
(9) The Bank of Konkan Ltd. |
Phondaghat. |
The following tables reveal the financial operations of various-joint-stock banks in the Ratnagiri district. Table No. 10 gives us the ownership of deposits of the banks, while in Table No. 11, an analysis of advances of all the scheduled and non-scheduled banks according to security is given.
TABLE No. 10.
BANKS IN RATNAGIRI DISTRICT-OWNERSHIP OF DEPOSITS.
|
|
Between Rs. 10,000 and Rs. 50,000. |
Betwoen Rs. 5,000 and Rs. 10,000. |
Between Rs. 1,000 and Rs. 5,000. |
|
No. of Accounts |
Amount. |
No. of Accounts |
Amount |
No. of Accounts |
Amount. |
1. |
Manufacturing Concerns |
-- |
-- |
-- |
-- |
-- |
-- |
2. |
Trading Concerns |
2 |
30,700 |
2 |
13,100 |
13 |
32,000 |
3. |
Persons |
10 |
130,100 |
15 |
108,000 |
456 |
847,400 |
4. |
Banking Companies |
-- |
-- |
-- |
-- |
-- |
-- |
5. |
Business Concerns |
5 |
51,000 |
-- |
-- |
156 |
220,000 |
6. |
Public Institutions and Trusts |
-- |
-- |
-- |
-- |
-- |
-- |
|
7. |
Others |
5 |
1,12,600 |
1 |
5,700 |
98 |
199,800 |
|
Total |
22 |
324,400 |
18 |
126,800 |
723 |
12,99,200 |
continued..
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|
Between Rs. 500 and Rs. 1,000. |
Rs. 500 and below. |
Total. |
|
No. of Accounts |
Amount. |
No. of Accounts |
Amount. |
No. of Accounts |
Amount. |
1. |
Manufacturing Concerns |
-- |
-- |
102 |
6,800 |
102 |
6,800 |
2. |
Trading Concerns |
6 |
4,200 |
92 |
6,400 |
115 |
86,400 |
3. |
Persons |
256 |
239,700 |
3,358 |
266,180 |
4,095 |
15,91,380 |
4. |
Banking Companies |
-- |
-- |
-- |
-- |
-- |
-- |
5. |
Business Concerns |
7 |
4,800 |
2,718 |
2,27,300 |
2,886 |
503,100 |
6. |
Public Institutions and Trusts |
-- |
-- |
-- |
-- |
-- |
-- |
7. |
Others |
7 |
12,100 |
-- |
-- |
111 |
330,200 |
|
Total |
276 |
260,800 |
6,270 |
506,680 |
7,309 |
25,17,880 |
Table No. 10 shows that the manufacturing concerns owe quite a small proportion of the total deposits. The situation can be very well explained by the poor development of industries in the district and its economic backwardness. Of all the deposits those on personal account represent the lion's share, while deposits of business concerns stand next in importance as far as their total volume is concerned.
TABLE No. 11.
ANALYSIS OF ADVANCES OF SCHEDULED AND NON-SCHEDULED BANKS ACCORDING TO SECURITY. |
-- |
Year ended 1955. |
Year ended 1957. | |
Number of Accounts. |
Amount Rs. |
Number of Accounts. |
Amount. Rs. | I. Secured Advances. | | |
(1) Government and Trustee Securities. |
1 |
100 |
1 |
800 | |
(2) Shares and debentures of Joint-Stock Companies etc. |
6 |
23,400 |
4 |
1,600 | |
(3) Gold and Silver Bullion, Gold and Silver ornaments. |
2,230 |
9,63,920 |
3,500 |
12,26,127 | |
(4) Merchandise: Commodities. |
|
|
|
| |
(a)
Agricultural |
1 |
8,700 |
-- |
-- | |
(b) Non-agricultural Commodities? |
9 |
8,900 |
16 |
30,835 | |
(5) Real Estate- |
| |
(a) Agricultural Land. |
-- |
-- |
-- |
-- | |
(b) Other properties |
15 |
4,32,100 |
4 |
4,43,500 | |
(6) Fixed Deposits |
362 |
1,15,800 |
718 |
2,11,600 | |
(7) Other secured advances |
188 |
1,35,200 |
271 |
3,14,400 | |
II. Unsecured Advances |
173 |
2,81,841 |
188 |
2,95,610 | |
Total of I and II |
2,985 |
19,69,961 |
4,702 |
25,24,472 |
Table No. 11 gives us the advances, secured as well unsecured, of these banks during the years 1955 and 1957. It appears that the banks are most willing to make advances against the security of gold and silver bullions and gold and silver ornaments. They have also advanced comparatively larger amounts against the securities of properties other than agricultural land. It may be that very few agriculturists and cultivators have approached these banks for loans. Most of them must have been obtaining credit through the easy system of money-lenders.
It must be noted in this connection that these banks have been established and have started functioning only in recent years. The State Bank as well as the Bank of Maharashtra, have been opened only a couple of years back. That explains the smallness of total volume of business done by these banks. As Ratnagiri is the most commercially undeveloped and economically backward area, the banking business in the district is bound to be smaller than in the other districts. With the growth of industries and communications as well as the banking habits of the people, the banking business will develop profusely and spread widely.
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