| The bank had entered into a strategic tie up with Tata AIG Life Insurance Company Limited and Tata AIG General Insurance company Limited July last year to work as the latter's corporate agent to market their various insurance products. |
| However, the RBI had stopped the bank getting into such business on the ground that the bank's NPA stood at over 10 per cent. |
| "We have now brought down our net NPA to 3.25 per cent from over 10 per cent last year", says Yagyeswar Babu, president of the bank, adding, in the changed circumstances bank is eligible to launch bancassurance business and it will soon explore the possibilities in this regard to improve its commission income. |
| OSCB posted a record profit of Rs 17.44 crore in 2004-05. It proposes to increase its loans and advances to Rs 1370 crore during the current fiscal against Rs 997 crore last year. |
| It had disbursed crop loan of Rs 960 crore last year which it intends to increase to Rs 1270 crore this year while aiming to raise the deposits from Rs 1078 crore to Rs 1200 crore. |
| The bank continued to dominate in agricultural advances by accounting for 64 per cent of the crop loan though it had only 7 per cent of the market share of deposits. The bank, Yagyswar said, provided relief to 3.92 lakh farmers in arrears and in distress due to successive natural calamities by rescheduling their loan to the tune of Rs 372 crore and the scheme is open till August 31 next. |
| OSCB is the first state cooperative bank in the country to computerise its entire operation to provide instant and effective customer service. It had installed 8 ATM service at Cuttack, Bhubaneswar, Berhampour, Angul and Sambalpur. |
| According to RN Das, managing director of the bank, OSCB's crop loan advance made a quantum jump from Rs 438 crore in 2000-01 to Rs 960 crore in 2004-05 while the interest rate for crop loan, loan to weaver societies, schematic and housing loans had been reduced. |
| The bank operated with 13 branches, 17 district central cooperative banks, 2714 primary agricultural cooperative societies. Out of the 50 lakh agricultural households in the state, 10 lakh are assisted by the bank while all other commercial banks put together had provided crop loan to four lakh farmers. |
| Das said, the bank's investment had slipped from Rs 832.88 crore in 2003-04 to Rs 681.95 crore in the last fiscal because it had to pump in more money into the crop loan segment as the Nabard's refinance assistance at Rs 402 crore was inadequate to meet the demand. |
| With 90 of the 303 posts in the bank lying vacant, its per employee business had gone up from Rs 9.52 crore to Rs 11.06 crore, he added. The bank is the third state cooperative bank in the country to have established a treasury management cell (TMC) for profitable deployment of surplus resources in government and other securities in the money market and trading in them. |
| The TMC was managing a portfolio of Rs 681 crore which was subject to variation on a day to day basis. It had made a trading profit of Rs 50.45 crore since inception including Rs 11.50 crore during 2004-05. |
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