BUSINESS -
ECONOMIC BRIEFING - MARKET - REPORT -
RESEARCH-WEF
A record 2,600 business, government and civil society leaders – including nearly 40 heads of state or government – participated in the 42nd World Economic Forum Annual Meeting, which took place under the theme The Great Transformation: Shaping New Models. The record participation indicated the international community’s level of concern for the world today, as one crisis after another emerges. It also underscored the commitment of the Forum’s Members, Partners and communities to improving the state of the world.
The great transformation is generating tremendous opportunities for humankind to live in a more prosperous, more peaceful world that is greener and socially more inclusive. Inclusion is critical at a time when the number one risk to the world is rising inequality. To shape the new collaborative models we require to address global challenges, we need to re-establish trust among ourselves and look to the future, confident in the strength of our shared values and vision.
This report is a summary of the wide-ranging discussions and debates of the Annual Meeting 2012. It captures the special Spirit of Davos that permeated the many sessions and events that took place over the five days.
The great transformation is
generating tremendous opportunities for humankind to live in a more
prosperous, more peaceful world that is greener and socially more
inclusive. Inclusion is critical at a time when the number one risk
to the world is rising inequality. To shape the new collaborative
models we require to address global challenges, we need to
re-establish trust among ourselves and look to the future,
confident in the strength of our shared values and vision. During
the Annual Meeting, we were especially inspired to witness how our
newest stakeholder group, the community of Global Shapers – leaders
in their twenties who are already changing the world – are carrying
on that spirit of positive thinking, innovation and collegiality.
Throughout the programme, they took an active role, frequently
arguing for social values and inclusion to be embedded in all new
business and governance models. Even in times of seemingly
overwhelming adversity, we can only move forward with the kind of
hope and courage that these young people display. They embody the
new models of leadership and entrepreneurship in the global public
interest. This report is a summary of the wide-ranging discussions
and debates of the Annual Meeting 2012. It captures the special
Spirit of Davos that
permeated the many sessions and events that took place over the
five days. Our collaborators at the World Economic Forum are
grateful and encouraged by the engagement of our Partners, Members
and communities at the Annual Meeting and throughout the year. We
look forward to welcoming you to our regional meetings in 2012 and
to our Annual Meeting next year.
The impact of the global recession is still being felt around the world. While there are signs of recovery in the United States and other developed economies and indications that the global financial crisis has been contained, the Eurozone debt crisis remains a major concern for the international community. The Annual Meeting offered European and world leaders the opportunity to have frank discussions on the unfolding situation and the measures needed to ensure the continent’s viability and future prosperity. Aside from the immediate problems of stabilizing the debt-distressed economies and averting a full-blown banking crisis, European countries will have to implement structural reforms to address their respective competitiveness shortcomings.Annual Meeting participants understood that no economy is immune to contagion from Europe. While Europe has to get its own house in order and no one country can come to its rescue, the collapse of the euro or the destabilization of the EU would inevitably sap confidence in the global economy and undermine growth everywhere. Major downturns in Europe and the United States could lead to slowdowns in emerging markets, including China, triggering another global economic decline and more turmoil in already volatile markets. Still, the long-range perspective is positive. The robust growth of the large developing economies, notably the BRICS (Brazil, Russia, India, China and South Africa), is an encouraging long-term story. In addition, innovations in science and technology – particularly social media, robotics, artificial intelligence, medicine and biotechnology – will drive new growth and productivity and generate jobs. While the debt crisis in Europe is fuelling pessimism, many participants stressed the importance of taking a long view, remaining positive and not becoming distracted or depressed by the immediate crises, however difficult they may be to resolve. Indeed, the three successive addresses to participants by Felipe Calderón, President of Mexico; Aung San Suu Kyi, General Secretary of the National League for Democracy (NLD) of Myanmar; and Stephen Harper, Prime Minister of Canada, powerfully underscored how hard work, steady implementation of meaningful reforms and patience can yield significant benefits. Canada focused years ago on drawing down its public debt and restructuring its economy and banking system. It was among the G7 economies that best weathered the global crisis and its banks are widely regarded as among the soundest in the world. Mexico, meanwhile, survived a liquidity crisis in 1995, rebounded strongly and now has achieved universal basic education and near-universal healthcare coverage. Calderón, as the leader of the current chair of the G20,
brought to Davos the wisdom of a thriving emerging economy that has withstood debt crises and governance problems to regain the confidence of investors and the market. The dramatic growth story of emerging markets in Asia, Latin America and Africa was widely appreciated by participants in Davos. Developing economies are already a rich source for new models to address persistent problems. Countries such as China and India that have to focus sharply on energy and food security are deepening commitments to sustainability and responsible and efficient resources management. China, in particular, could become a global game-changer in the development of low-carbon solutions and clean energy. India could be a model for food security solutions and for generating resourceful low-cost innovations that are easily adaptable in other developing economies. These innovations are inspiring leaders around the world to re-examine existing ways of approaching problems and think about how to develop more inclusive, fair and sustainable models. “We have to make capitalism and the free market much more responsive to social needs,” concluded Klaus Schwab, Founder and Executive Chairman of the World Economic Forum. “If business is not serving society, then business is not sustainable.”
The Annual Meeting offered leaders from around the word the opportunity to have open discussions on the state of the world and the measures needed to pave the way towards future prosperity. While most conversations drifted to the latest news on the Eurozone debate, others turned to pressing issues that deserve equal attention. The top priority is to bring into the workforce the 200 million unemployed, particularly youth. This will require collaborative approaches in every economy to implement structural reforms to promote growth and inclusion and address fiscal imbalances. Hyperconnectivity enables the public to react almost as a single organism to new developments with extraordinary numbers, power and speed. The accelerated speed of communications creates immediate expectations and means that leaders often have insufficient time to respond to changing situations. Persistent stresses on natural resources, climate extremes, natural disasters, poverty, unemployment and political unrest have pushed the world to a tipping point. But the pessimism of 2011 is being offset by the emergence of new ways of thinking and innovations, resulting in models that could be scaled up – providing there is political will and “people power” embedded in public-private partnerships. Many sustainable growth technologies and models are originating from emerging markets, where economic pressures are the inspiration for innovation. Skilfully managing risks in the water-food-energy nexus is critical; chronic mismanagement has thwarted economic growth and social stability. Subsidies must be abolished, particularly for fossil fuels. In some developing countries, government spends more on fuel subsidies than it does on education and healthcare. Global food systems are clearly broken after decades of mismanagement and distorted production and distribution patterns. A huge challenge is taming price spikes and excessive food price volatility. Nonetheless, participants were confident a food crisis can be averted, pointing to technological innovations, access to information and new models of cooperation between governments and businesses. Environmental issues were also at the top of leaders’ minds in Davos. Oceans, one of the primary sources of food on the planet, are increasingly under threat and abuse. A “networked system of good governance” that draws in all stakeholders is required to save the oceans, rather than laws, regulations and market-based mechanisms. The Forum’s Global Risks Report 2012 warns that failure to curb rising carbon emissions poses the most significant global environmental risk over the next decade.
Global Risks 2012 Leaders arriving in Davos were in no doubt
about the big concerns they were meeting to tackle. Setting the
agenda just a couple of weeks before the Annual Meeting 2012 was
the World Economic Forum’s seventh Global Risks report, which warns
that economic imbalances and social inequality risk reversing the
gains of globalization. The findings were the result of a survey of
469 experts and industry leaders, indicating a shift of concern
from environmental risks to socioeconomic risks compared to a year
ago. The findings of the survey fed into an analysis of three major
risk cases: 1. Seeds of Dystopia: Bulging populations of young
people with few prospects, growing
numbers of retirees depending on debt-saddled states and the
expanding gap between rich and poor are fuelling resentment
worldwide.
2. Unsafe Safeguards: Policies, norms and institutions from the
20th century may no longer protect us in a more complex and
interdependent world. The weakness of existing safeguards is
exposed by risks related to emerging technologies, financial
interdependence, resource depletion and climate change, leaving
society vulnerable. 3. The Dark Side of Connectivity: Our daily
lives are almost entirely dependent on connected online systems,
making us susceptible to malicious individuals, institutions and
nations that
increasingly have the ability to unleash devastating cyberattacks
remotely and anonymously. The report analyses the top 10 risks in
five categories – economic, environmental, geopolitical, societal
and technological – and highlights wild card threats that warrant
more research, including a volcanic winter, cyber neotribalism and
epigenetics, the risk that the way we live could have harmful,
inheritable effects on our genes. Key crisis management lessons
from Japan’s earthquake, tsunami and nuclear disasters are
highlighted in a special chapter. Read the report:
http://wef.ch/globalrisks2012
New Models for Economic Growth The starting point should be a collaborative and multistakeholder approach to resolving the Eurozone crisis. Participants concurred that the International Monetary Fund (IMF) should get more money to backstop the financial firewall that Eurozone leaders are erecting in the form of the European Financial Stability Facility and the European Stability Mechanism. With a large enough buffer, markets and businesses would gain confidence in the Eurozone’s ability to shield Spain, Italy and France from contagion if Greece were to default on its sovereign obligations. Each country’s goal should be to create jobs and minimize income disparities, while promoting environmental sustainability. Economic policies should be tailored to each market’s circumstances. Those countries with severe fiscal imbalances should continue tightening. Others that have already made cuts should let automatic stabilizers bring the economy closer to balance. Free trade should continue to be pursued, but so should fair trade.
Practices that distort open trade should be eliminated. These include effective government subsidies to state-owned companies, exports and capital, as well as intervention in exchange rates to keep currencies artificially cheap. Governments should act as facilitators in creating the ecosystems that allow enterprises to operate at optimal efficiency. Special attention should be paid to small and medium-sized enterprises (SMEs) because they are the engines of job creation. New Models for Manufacturing Manufacturing, involving global supply chains can boost employment – one job in manufacturing can create eight other positions. In general, the most promising sectors include green technology infrastructure and healthcare. New Models for Employment Employment models in Germany and the Nordic countries can be adapted elsewhere. The elements include an apprenticeship system, gender- and age-blind employment, close consultation with labour unions in policy-making and representation of labour on company boards. Companies should promote wellness in the workplace – the cost in terms of lost output of employees due to illness can be enormous. Other measures include more flexible labour markets, portable pension and medical plans recognized across borders, nuanced immigration policies to promote global talent mobility, and a higher retirement age to allow older workers to continue leading productive lives (and relieve pressure on pension systems). Schools should redesign their curricula in partnership with business to better respond to the needs of commerce for the right talent and encourage entrepreneurship at a young age – self-employment is yet another route to full employment. Continuous and relevant education is key, particularly in math and science. Some Forum participants propose to develop a Human Capital Index to monitor and benchmark countries’ performance in areas important for growth and employment, including infant mortality, access to primary, secondary and tertiary education, training and retraining opportunities and enablers such as incentives for entrepreneurship. The index will highlight the gaps between industry needs and what skills may be available. Like the G20 platform to discuss global affairs,there should also be a B20 for businesses and an L20 for labour. The three should convene periodically to craft new models for growth and employment. New Models for Leadership The new model for leadership requires streamlining operations while developing and emphasizing internal and external communications. As such, leaders need to maintain a global perspective while paying close attention to things on the home front. It means establishing a clear set of priorities and values that will set a direction for the organization, especially in times of crisis. The Internet and social media could provide valuable tools for leaders to make rapid decisions while ensuring a collaborative approach that buttresses their legitimacy. Ultimately, the most critical element is accurate information. Connectivity is emerging as one of the most important elements of the new leadership model. Leaders need to be aware of all of the options available, but also need to know what their customers and employees are really thinking. Compensation has recently been the source of criticisms that may impact on a leader’s
In Africa, the challenge is to leapfrog and find ways to adopt the
latest technologies to promote clean energy and resource
efficiency. Africans have the potential to lead sustainability over
the next decades. In China, leaders recognize that low carbon must
be part of the equation. Key to the energy solution is determining
how much growth is feasible and the quality and quantity of energy
to power it. This systematic approach could be a model for
developing countries.
New
Sustainability Champions are embedding sustainability by moving
from non-renewable to renewable materials and applying clean
production and delivery methods. Sustainable job creation results
from these practices. New Models for Smart Growth through
Technology Technology can drive practical and affordable solutions
to development challenges. Good innovations use technology to spawn
new business models that promote inclusiveness, stimulate growth
and employment, enhance sustainability and environmental
responsibility, and are cost effective.
However, certain innovations can have negative consequences when
not properly used, adequately assessed and monitored. New economic
and business models have to be predicated on smart growth – how to
do more with less. “Smart city” projects are bringing together
technology companies and cities and towns in public private
partnerships to promote sustainability, conserve energy, reduce
costs and meet the needs of citizens who are demanding a reasonable
price.
New
Models for Global Challenges through Technology Applications on
mobile devices or services – such as disaster monitoring on social
media platforms – are allowing ordinary people to change the world.
People are creating their own technology to make their lives
better; e.g. “gamification”, the use of online game design
techniques and dynamics to engage communities and solve real-world
problems.
The international community should take inspiration from the
sciences and create new ways of collaborating that harness the
different skills and knowledge bases of relevant experts.
Technology is changing the way leaders make choices. The Internet
and social media, for example, can help ensure that they are still
able to consult the appropriate constituents and take a course of
action quickly in response to a fast-moving situation.
The
rich data and information generated by global social networks is
yielding knowledge and insights that will allow companies to better
meet the demands of their customers, and governments to
better
serve the needs of the public.
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he United Nations General Assembly has declared 2012 the International Year of Cooperatives (IYC). The designation serves to highlight the contribution cooperatives have had in reducing poverty, creating jobs and promoting social integration. The theme for the International Year of Cooperatives 2012 is "Cooperative Enterprises Build a Better World."
A report released by RBI of Expert Committee on Licensing of New Urban Co-operative Banks (Chairman: Shri Y.H. Malegam).
As per Section 35A of the Banking Regulation
Act, 1949, RBI can issue directions to any co-operative bank or class of co-operative banks if RBI is satisfied that doing so is necessary:
1. In the public interest or
2. In the interest of banking policy
or
3. To prevent the affairs of the bank being conducted in a manner detrimental to the interests of the depositors or prejudicial to the interests of bank
or
4. To secure the management of the bank generally, and the banks are bound to follow the directions
Evolution of the Indian Banking Industry:
In the evolution of this strategic industry spanning over two centuries, immense developments have been made in terms of the regulations governing it, the ownership structure, products and services offered and the technology deployed. The entire evolution can be classified into four distinct phases.
Current Structure
Currently the Indian banking industry has a diverse structure. The present structure of the Indian banking industry has been analyzed on the basis of its organised status, business as well as product segmentation.
Organisational Structure
The entire organised banking system comprises of scheduled and non-scheduled banks. Largely, this segment comprises of the scheduled banks, with the unscheduled ones forming a very small component. Banking needs of the financially excluded population is catered to by other unorganised entities distinct from banks, such as, moneylenders, pawnbrokers and indigenous bankers.
Scheduled
Banks
A scheduled bank is a bank that is listed
under the second schedule of the RBI Act, 1934. In order to be included under this schedule of the RBI Act, banks have to fulfill certain conditions such as having a paid up capital and reserves of at least 0.5 million and satisfying the Reserve Bank that its affairs are not being conducted in a manner prejudicial to the interests of its depositors. Scheduled banks are further classified into commercial and cooperative banks. The basic difference between scheduled commercial banks and scheduled cooperative banks is in their holding pattern. Scheduled cooperative banks are cooperative credit institutions that are registered under the Cooperative Societies Act. These banks work according to the cooperative principles of mutual assistance.
Scheduled Commercial Banks (SCBs):
Scheduled commercial banks (SCBs) account for a major proportion of the business of the scheduled banks. As at end-March, 2009, 80 SCBs were operational in India. SCBs in India are categorized into the five groups based on their ownership and/or their nature of operations. State Bank of India and its six associates (excluding State Bank of Saurashtra, which has been merged with the SBI with effect from August 13, 2008) are recognised as a separate category of SCBs, because of the distinct statutes (SBI Act, 1955 and SBI Subsidiary Banks Act, 1959) that govern them. Nationalised banks (10) and SBI and associates (7), together form the public sector banks group and control around 70% of the total credit and deposits businesses in India. IDBI ltd. has been included in the nationalised banks group since December 2004. Private sector banks include the old private sector banks and the new generation private sector banks- which were incorporated according to the revised guidelines issued by the RBI regarding the entry of private sector banks in 1993. As at end-March 2009, there were 15 old and 7 new generation private sector banks operating in India.
Expert Committee on Licensing of New Urban Co-operative Banks (UCBs), Recommendations are:
UCBs play a useful role and there is need for a greater presence of UCBs in unbanked districts and in centers having population less than 5 lakh. It is necessary to encourage new entrants to open banks and branches in States and Districts which are unbanked or inadequately banked. It is equally necessary
to discourage new entrants from opening branches in Districts and population centers which are already adequately banked. The existing well managed co-operative credit societies meeting certain financial criteria like profits, capital adequacy, NPAs’ proportion etc. should be given priority for granting licenses as urban co-operative banks particularly in unbanked or inadequately banked centers.
Entry Point Capital Prescription
The proposed entry point norms for the new UCBs are as under:
In respect of existing co-operative credit societies opting to be converted in to UCBs, the minimum capital required will be as per norms prescribed above or as per RBI’s per branch head room capital prescription, whichever is higher,
Unbanked District means a District without any existing UCB.
Organization Structure of New UCBs
There should be segregation of the ownership of the UCB as a co-operative society from its functioning as a bank. The new organization structure shall consist of a Board of Management in addition to the Board of Directors.
The Board of Directors (BoD) would be elected in accordance with the provisions of the respective Co-operative Societies Acts and would be regulated and controlled by the RCS / CRCS.
The (BoD) will establish a Board of Management (BoM), consisting of persons with professional skills, which shall be entrusted with the responsibility for the control and direction of the affairs of the Bank assisted by a CEO who shall have the responsibility for the management of the Bank.
RBI would have unfettered powers to control and regulate the functioning of the UCB and of its BoM and of the CEO in exactly the same way as it controls and regulates the functioning of the Board of Directors and the Chief Executive in the case of a commercial bank.
It should be made a condition of the license that every new UCB should be required to have a Board of Management (BoM) to be appointed by the Board of Directors (BoD) and a Chief Executive Officer (CEO) to be appointed by the BoM. While the BoD will be responsible for laying down the broad contours of strategy, the BoM will be vested with the mandate to direct and control the day-to-day operations of the UCB within the limits set by the BoD. At least 51 per cent of the members of the BoM should have special knowledge or practical experience in the matters specified in Section 10 A(2) of the B. R. Act, 1949.
Members of the BoD can be members of the BOM provided they fulfill the conditions specified. Members of the BoM can be paid such sitting fees as the BOD may decide subject to a ceiling to be specified by RBI. The BoM to follow a Code of Corporate Governance to be specified by RBI.
The CEO shall be responsible for the management of the whole or substantially the whole of the affairs of the UCB but shall be subject to the control and direction of the BoM. The appointment of the CEO shall be subject to the prior approval of RBI.
Audit by a Chartered Accountant to be appointed by the BoM from out of a panel of approved auditors maintained by RBI and subject to rotation after four years.
Umbrella Organization
There should be two separate Umbrella Organizations viz. a national level organization which provides payments and settlement services and other services normally provided by central banks as also liquidity support to its members; and one or more organizations which provide the management, IT, training and other services which the UCB sector needs.
The national level UO should preferably be in the form of a multi-state UCB with membership being restricted to and mandatory for all UCBs other than scheduled UCBs.
Member UCBs should be required to maintain their CRR in the form of deposits with the UO.
The UO should invest its funds only in the form of balances with RBI, deposits with commercial banks or in SLR securities and in no other form.
The UO should offer Repos and Reverse Repos facilities to UCBs in the same manner as RBI offers to commercial banks and at the same rates of interest. In turn, it should enjoy Repos and Reverse Repos facilities with RBI.
UCBs can avail of Repos facilities only to the extent of their excess SLR holdings.
Until the Payments and Settlements facilities are provided directly to UCBs, the UO will act as a gateway to provide these services for a fee to UCBs. In turn, the UO will be a member of the Payments and Settlement System.
Being a UCB, the UO would have a Board of Management and will be subject
to the regulation, supervision and inspection of RBI.
It was announced in the Annual Policy Statement 2010-11 to set up a Committee comprising all stakeholders for studying the advisability of granting new urban co-operative banking licences under Section 22 of the Banking Regulation Act, 1949 [As Applicable to Co-operative Societies (AACS)]. Accordingly, the Reserve Bank of India constituted an Expert Committee under the Chairmanship of Shri Y.H. Malegam.
The Committee was assigned the following terms of reference:
To review the role and performance of UCBs over the last decade and especially since the adoption of VISION document in 2004,
To review the need for organization of new UCBs in the context of the existing legal framework for UCBs, the thrust on financial inclusion in the economic policy and proposed entry of new commercial banks into the banking space,
To review the extant regulatory policy on setting up of new UCBs and lay down entry point norms for new UCBs,
To examine whether licensing could be restricted only to financially sound and well managed cooperative credit societies through conversion route,
To make recommendations relating to the legal and regulatory structure to facilitate the growth of sound Urban Co-operative Banks especially in the matter of raising capital consistent with co-operative principles;
To examine the feasibility of an umbrella organization for the Urban Co-operative Banking Sector; and
To examine other issues incidental to licensing of Urban Co-operative Banks and make appropriate recommendations.
We talk about few prominent UCB’s in action
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he Greater Bombay Co-operative Bank Ltd, Chairman, Narendra Kumar Baldota: More popularly known as Greater Bank, had its humble beginnings over five decades ago on 10th December 1952, when a small group of philanthropists got together to set up the Bank. Though the founders were
pursuing interests of their own, they decided to establish
the bank with the sole motto of serving the community at large.
With this end in view, they introduced attractive deposit and
lending schemes relevant to the times. The Bank made a
mark for itself with high quality of service, which primarily
induced several customers to the bank. Having achieved the status
of a scheduled bank in 1996, The Greater Bombay Co-operative Bank
has been making giant strides by attracting customers from the low,
middle and upper income strata. This speaks volumes about the faith
and the trust reposed in the Bank by the public.
The Bank has achieved distinguished success in co-operative banking
sector particularly during the last few years because of its
distinct objectives, strategic plan of action, its continuous
monitoring and sharing of success with the concerned personnel.
Good Corporate Governance and a committed management with the Board
of Directors with keen interest in the well being of the Bank has
been instrumental in The Greater Bombay Co-operative
Bank reaching greater heights.
The Bank has a deposit base of more than `1200 Crores and a
business mix of more than `2000 Crores. The Banks total income is
more than `135 crores inclusive of Non-interest income of more than
`18 crores with Gross NPA less than 1.5%. The Net Profit registered
a growth of 44% to `10.8 cr in the year under review from `7.5 cr
in the previous year. The NIM of the Bank increased to 3% in the
current FY from 2.1% in the earlier year.
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he TJSB Sahakari Bank Ltd (TJSB), Chairman, Vidyadhar Vaishampayan:
With the modest beginning in 1972 in the co-operative field, the
dynamism infused by the Board of Directors, unflinching
loyalties of clientele and devotion of staff has propelled the
sound foundation of The TJSB Sahakari Bank Ltd
(TJSB) and has emerged as one of the leading
multi state scheduled co-operative Bank in the country.
TJSB presently is catering to the needs of society
through a close network of 63 Branches and 1 Extension
Counters spread all over the city of Thane, Mumbai, Navi Mumbai,
Nasik, Pune, Satara,Aurangabad, Kolhapur, Nagpur, Latur, Goa &
Karnataka. All these Branches have made remarkable progress on all
fronts in all these years. TJSB believes
that "customer delight" is the ultimate goal and has a strong
belief that Customers & all Stakeholders wholehearted support,
absolute faith and their patronage has largely been responsible for
its enviable growth. TJSB is committed to provide banking with
speed, comfort and convenience.
TJSB feels proud to acknowledge the growth of large number
of successful industrialists, traders and professionals who have
grown leaps & bound due to timely assistance and support of the
Bank. TJSB has set before a Visionary Growth Plan
focusing all business strategies solely on creation of Stakeholders
value.
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The City Co-op Bank Ltd, Mumbai. Chairman, Hon'ble Shri Anandrao V. Adsul has been reelected as Member of Parliament He has been elected as MP for the fourth time. The Bank has 8 branches in mumbai and 2 branches in Thane District. In addition to banking for convenience of the customers, the Bank insurance and other services too. |
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Pune: Janata Sahakari Bank, Pune. Chairman Sh. Arvind Keshav Khaladkar
Janata Sahakari Bank was established in October 1949 with a view to providing financial needs of weak and lower class people. It is a pioneer in opening of branches in urban co-operative banking, merger of weak banks with a strong bank, bankers for Pune Stock exchange and opening of depository of NSDL, etc. The bank came from the brink to become leading entity to become a multi-state bank, with business mix of 5562.99 Cr.
Janaseva Sahakari Bank, Pune. Chairman, Satish Gorde: A leading non-scheduled Bank, with impressive nil NPA, also it has crosses 1800 Cr. Business mark.