notice - kokan bank

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NOTICE(For Share Holders Only) 10h July, 2018

The 49th Annual General Meeting of KOKAN MERCANTILE CO-OPERATIVE BANK LTD., will be held on Saturday, the 28th July, 2018 at 10.30 a.m. sharp at Damodar Thakersey Mulji Hall, Dr. Ambedkar Marg, Parel, Mumbai 400 012 to transact the following business :1. ToreadandconfirmtheminutesoftheAnnualGeneralMeetingheldon10th August, 2017.2. To consider and adopt : i. Annual Report for the year 2017 - 2018. ii. Profit&LossAccountfortheyearended31st March, 2018. iii. BalanceSheetason31st March, 2018.3. ToconsiderandapproveAppropriationofProfit for the financial year2017–2018asproposedby the Board of Directors.4. ToconsiderandadopttheReportofStatutoryAuditorandcompliancethereoffortheyear2017–2018.5. ToapproveBudgetfortheyear2018–2019.6. ToappointInternalandStatutoryAuditorsfortheyear2018–2019andtofixtheirremuneration.7. TotakenoteoftheloansandadvancesoutstandingfromtheDirectorsandtheirrelativesduringtheyear 2017–2018[videsection39(3)oftheMultiStateCo-operativeSocietiesAct,2002].8. ToconsiderandapproveamendmentproposedbytheBoardofDirectorstotheByeLawNo.6(a),12, 34,36,49and50(c)oftheBank,9. AnyothermatterwiththepermissionoftheChair.By order and on behalf of the Board of Directors

ChiefExecutiveOfficer

N.B. :1. QUORUM : Ifthereisnoquorumbytheappointedtime,themeetingshallstandadjournedandtheadjournedmeeting shallbeheldhalfanhourlateratthesamevenueforwhichquorumisnotnecessary.

2. REQUEST TO THE MEMBERS : i) AnymemberdesiringtoseekinformationpertainingtotheaccountsisrequestedtowritetotheBank atleastsixdayspriortothedateoftheAnnualGeneralMeeting.

ii) Members,whohavenotcollectedtheirShareCertificate/suptillnow,arerequestedtocollectthe same,attheirearliest,fromtheRegisteredOffice/OutstationBranches

iii) Members those who are not availing loan facility or having any Bank account attracts the provisionofdisqualificationundersection29(b)ofMultiStateCo-operativeSocietiesAct, 2002readwithByeLawNo.13(d)oftheBank.TheBoardofDirectorsthereforerequestsall

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memberstoopentheiraccountwiththeBankandintimateaccountdetailstoCentralOffice ShareDepartment,HarbourCrest,MazagaonT.T.,Mumbai400010ornearestBranchrequesting the said Department/Branch to deposit their dividend in their respective Bank account.

iv) Members are requested to attend the Bank’s General Body Meetings at least once in three years to avoidattractionofprovisionofdisqualificationundersection29(c)ofMultiStateCo-operative SocietiesAct,2002readwithByeLawNo.13(c)oftheBank.

v) MembersthosewhohavenotyetobtainedtheirMembershipIdentityCardsarerequestedto submitTwolatestPassportSizePhotographstoShareOfficeratBank’sCentralOfficeShare DepartmentinordertoissuetheMembersIdentityCardtothem.

vi) ReserveBankofIndiahasinstructedallBankstocomplywiththeKYCofeveryaccountholder which is mandatory and therefore the members those who are having accounts and not compliedwiththeKYCarerequestedtosubmitcopyoftheirPhotoIdentity,ProofofResidence andTwolatestPassportSizePhotographsimmediatelyinordertoavoidanyinconvenience or prohibition for operating the account in future. Account holders are also required to note thatiftheaccountsremainingnon-operativeformorethan10years,balanceofsuchaccounts will be transferred and deposited in The Depositors Education & Awareness Fund 2014 with Reserve Bank of India as per guidelines issued by the Reserve Bank of India.

vii) Members/DepositAccountholdersarerequestedtonotifytheirMobileNumbersande-mailaddress with their respective Membership / Deposit Accounts in order to avail the SMS Alert Facility and Notices,CorrespondenceandcopyofAnnualReportbye-mail.

viii) All the members are hereby informed that Reserve Bank of India has made it mandatory to makeallaccounts,aswellasMembers,KYCcompliant.Membersarethereforerequestedto submittheirAadharCardcopyalongwithonepassportsizephotographandMobileNumber andcopyofPANCard,ifavailable,totheBank’sShareDepartmentatCentralOfficeornearest BankBranch,inordertocomplywiththerequirementofKYC,by30thJune,2020.

Membersmay also forward theirKYCdetail for updationon email -membershipkyc@ kokanbank.in

Thosememberswho fail to submit thesedocuments andcomplywithKYC requirement irrespective of their shareholding, their share amount will be transferred to the Bank’s General Reserve and the same will be paid to the members as and when their applications are received for refund.

ix) AWARDTO/FELICITATIONOFMERITORIOUSCHILDRENOFTHEMEMBERS:

The Bank has formulated a policy to felicitate children of its members in the order of merits. Members are therefore requested to provide to the Bank, information about achievements of theirchildren/ward inSSC/HSCexaminationsheldfor theacademicyear2017-2018, if theirchildren /wardhavesecuredaggregate85%orabove inSSCand80%orabove in HSC: a) Underthescheme,parentmemberwhoisregisteredon31stMarchoftheprecedingyear shall be eligible to apply. b) Ifboththeparentsaremembers,onlyoneparentmemberwillbeeligibletoapply.

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STATUTORy AUDITOR

M/s.Vindu&AssociatesChartered Accountants

INTERNAL&CONCURRENTAUDITORS

1. M/s.Fakih&Co.,CharteredAccountants

2. M/s.YardiPrabhu&AssociatesLLP,CharteredAccountants

3. M/s.Bhagawathi&Bhat,CharteredAccountants

LIST OF OUR BAnkERS

1. ReserveBankofIndia

2. MumbaiDistrictCentralCo-op.BankLtd.

3. BankofIndia

4. AxisBank

5. Maharashtra State Co-op Bank Ltd.

6. ICICI Bank Ltd.

7. IDBI Ltd.

8. Union Bank of India

9. Kotak Mahindra Bank Ltd.

10. Dena Bank

11. State Bank of India

12. Raigadh District Central Co-op. Bank Ltd.

13. BankofMaharashtra

14. HDFCBankLtd.

15. Ratnagiri District Central Co-op. Bank Ltd.

16. Bank of Baroda

17. GoaStateCo-op.BankLtd.Panjim

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ANNEXTURE - A(AsrequiredbytheCommissionerforCo-operationvideCircularNo.UBD/D.4/AR/Inform/92dated30.05.92)

NAMEOFTHEBANK KOKANMERCANTILECO-OP.BANKLTD.

REGD.OFFICEADDRESS HarbourCrest,MazagaonT.T.Mumbai400010

DATEOFREGISTRATION MSCS/CR/91/99dt.29.06.99 DATE&NO.OFRBILICENCE UBD.MH.646PU/S22ofB.R.Act1949

JURISDICTION GreaterMumbai,Thane,Raigad,Ratnagiri and SindhudurgDistricts,Miraj, Pune, Kolhapur in MaharashtraState,Panjim inGoa,Hyderabad inAndhra Pradesh, Bangalore, Belgaum in Karnataka,SuratinGujarat.

ITEMS (as on 31st March 2018)(AmountinLakhs)

No. of Branches including H.O. 26

Membership Regular 50,527 Nominal 9,536

Paid-up share capital 1,479.82

TotalReservesandFunds 10,595.57

Savings 23,936.20 Deposits Current 4,904.21 Fixed 25,466.21

Secured 36,521.10 Un-secured 195.40 Advances Total%of Priority Sector 53.82% Total%of Weaker Section 13.12%

Borrowings D.C.C. — M.S.C. — Others 698.80

Investment 15,345.27

Overdues% 4.18%

AuditClassification "A"

Total Staff Sub-staff 28 Other staff 205

Working Capital 70,008.28

CRAR Ratio 18.33%

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DIRECTORS’ REPORTDearMembers,The Board of Directors hereby presents this 49th Annual Report along with the Audited Balance Sheet as at 31stMarch,2018andtheProfit&LossAccountfortheyearendedMarch31,2018.

OBITUARy :Withdeep regret, theBoardofDirectors inform theuntimely and saddemiseofAdv.NazimA.H.Kazi, Ex-ChairmanoftheBank.TheBoardofDirectorsplaceonrecordtheirheartfeltcondolenceandpraytotheAlmightytoresthissoulinpeace.Ameen.TheBoardofDirectorsalsoplaceonrecordtheirheartfeltcondolencestothemembers,customersandwellwisherswhopassedawayduringtheyearandpraytotheAlmightytoresttheirsoulsinpeace.Ameen.

PERFORMANCEOVERVIEW:TheoverallperformanceoftheBankduringtheyearhadbeenprogressiveandverysatisfactoryascomparedtothebankingindustryinthecountry.ThefinancialresultismainlyevidentintheprimebarometerofincreaseinDeposits,Advances,WorkingCapital,Reserve,GrossIncome,NetProfit&CRARoftheBank.ThesustainedeffortsofoneandallhaveenabledtheBanktoincreaseitsShareCapitalatRs.1,479.82lakhsandReservestood at Rs.10,595.57 lakhs. The Banks own fund stood at Rs.12,075.39 lakhs and Deposit of the Bank stood at Rs. 54,306.62lakhsandAdvancesatRs.36,716.50lakhsason31stMarch,2018.Bank’sWorkingCapital stood at Rs.70,008.28lakhswhereasGrossIncomeoftheyearstoodatRs.7,606.69lakhs.Bank’sNetProfitfortheyear2017-18wasRs.695.79lakhs,whichisalltimehighinthehistoryoftheBank,aftermakingallstatutoryprovisionsandpaymentofincometax.Theperformancehighlightsoftheyear2017-18areasunder:(Rs.Inlacs)

31.3.2017 31.3.2018 Growth PercentShare Capital 1,280.84 1,479.82 15.54%Reserves 10,874.67 10,595.57 -2.57%OwnedFunds 12,155.51 12,075.39 -0.66%Deposits 56,608.18 54,306.62 -4.07%Loans&Advances 31,269.48 36,716.50 17.42%Investments 16,785.27 15,345.27 -8.58%Working Capital 71,051.64 70,008.28 -1.47%GrossIncome 6,983.25 7,606.69 8.93%TotalExpenditure 6,507.58 6,910.90 6.20%NetProfit 475.67 695.79 46.28%CapitaltoRiskAssetsRatio 17.62% 18.33%

nET PROFIT :BankhasearnedhighestNetProfitduringtheyearamountingtoRs.695.79 lakhs.Thetotalnetprofitof Rs.696.01availableforappropriationinthecurrentyearincludingbroughtforwardprofitofRs.0.22lakhsafterprovidingstatutoryprovisionsrequiredasperReserveBankofIndianormsasagainstprofitofRs.475.81 lakhsoflastyear.BankhasprovidedRs.267.83lakhsforpaymentofincometaxduringtheyear.

DIVIDEND:TheBoardofDirectorsrecommendsdividend@10%perannumthisyear,onproratabasissubjecttoapprovalofReserveBankofIndia.

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TheBoardofDirectorsarepleasedtoinformthattheReserveBankofIndiahasgivenpermissionforpaymentofdividendfortheyear2016-2017anddividendwarrantsofthesamehasbeendispatchedtothemembersorcreditedtotheirrespectiveaccountsaspertheirstandinginstructions.

APPROPRIATIOn :TheBoardofDirectorsrecommendthefollowingappropriationoutofthenetprofitavailablefordistribution:

APPROPRIATIONOFPROFIT(2017-18) Amount(Rs.)B/FProfit 22,253.01+CurrentYear’sNetProfit 6,95,79,149.32 6,96,01,402.33LessStatutoryReserve 25% 1,74,00,350.00–"–ContingencyFund 10% 69,60,140.00–"–EducationFund 1% 6,96,014.00–"–DividendPayabletoMembers 10% 1,33,28,431.45–"–BuildingFund 1,85,00,000.00–"–Ex-gratiatoEmployees 10% 1,02,13,306.25–"–StaffWelfareFund 15,00,000.00–"–MembersWelfareFund 10,00,000.00 6,95,98,241.70Balance carried forward 3,160.63Total 6,96,01,402.33

MEMBERSHIP :MembershipoftheBankstoodat50,527ason31stMarch,2018asagainst49,881ason31stMarch,2017.Thenumberofnominalmembersason31stMarch,2018was9,536(asagainst8,888ason31.3.2017)whichis18.87%ofthetotalmembersasagainst20%permissiblebyReserveBankofIndia.

SHARECAPITAL:Paid up Share Capital of the Bank at the year-end stood at Rs.1,479.82lakhs,ascomparedtoRs.1,280.83lakhsatthepreviousyearend,givingariseof15.54% in the equity during the year.

RESERVESANDOTHERFUNDS:TheReservesandOtherFundsoftheBankstoodatRs.10,595.57lakhson31.3.2018asagainstRs.10,874.67lakhs of last year.ThefollowingtableshowsthefiguresoftheReserves&OtherFundsundervariousheadsason31.3.2018ascomparedtothatason31.3.2017:

(Rs.InLakhs) PARTICULARS 2016-2017 2017-2018 RISE(Rs.)

ReserveFund(Statutory) 1,311.95 1,434.32 9.33%

BuildingFund 1,244.42 1,299.42 4.42%

DividendEqualizationFund 69.59 69.59 ---

BadandDoubtfulDebts 3,206.23 2,421.75 -24.47%

ContingentprovisionsforStandardAssets 201.11 201.11 ---

StaffWelfareFund 0.00 9.03 ---

Members’WelfareFund 17.49 31.29 78.90%

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DevelopmentReserveFund 19.75 19.75 --

CharitableFund 4.25 4.25 --

ContingencyFund 217..06 264.64 21.92%

ReserveforInvestmentFluct.Fund 153.15 363.15 137.12%

ReserveforDepreciationonInvestment 339.82 380.46 11.96%

RevaluationReserve 3,837.11 3,669.39 -4.37%

GeneralReserve 213.39 380.80 78.45%

SpecialReserve 39.35 46.62 18.48%

Total 10,874.67 10,595.57 -2.57%

WORKINGCAPITAL:The Working Capital stood at Rs.70,008.28 lakhs as against Rs. 71,051.64 lakhs of the last year

ThefollowingabridgedBalanceSheetreflectsthecompositionofworkingcapitalasattheyearend:

(Rs.inLacs)

2016-2017 Liabilities 2017-2018 2016-2017 Assets 2017-2018 OwnFunds 31,437.93 LiquidAssets 24,477.49 (ShareCapital,Bldg., (Cash,Bal.withBanks 12,155.51 Reserves&OtherFunds) 12,075.39 27,617.66 &Investment)

56,608.18 Deposits 54,306.62 31269.48 Advances 36,716.50 --- Borrowings 698.80 Interestreceivableon 1,070.82 Loans&Investments 1,216.55 Premises,Fur.&Fixture Vehicles,Sec.Items, Computers,Encoding 1,812.14 Other Liabilities 2,231.26 5,193.43 Machines,Generator 5,271.42 475.81 Profit&LossA/c 696.01 2,079.98 Other Assets 2,326.32

71,051.64 70,008.28 71,051.64 70,008.28

DEPOSITS :

YourBank’stotaldepositsreachedtoRs. 54,306.62 lakhsason31stMarch,2018ascomparedtoRs.56,608.18lakhsatlastyearend.Theeffortstomobilizedepositswereseverelyaffectedduetomanystringentlaws,marketrecession,political turmoilanddemonetization.Bank’sCASADepositstoodto53.14% of the total deposit as on 31st March, 2018comparedto55.98%ofthelastyear.

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CompositionofdepositsoftheBankisgivenhereunder:(Rs.Inlacs)

31st March, 2017 % 31st March, 2018 %

Short/MediumTermDeposits 24,916.03 44.02 25,466.21 46.89Current Deposits 5,724.24 10.11 4,904.21 9.03SavingDeposits 25,967.91 45.87 23,936.20 44.08

TOTAL 56,608.18 100.00 54,306.62 100.00

LOANS&ADVANCES:TheadvancesoftheBankason31st March, 2018 stood at Rs.36,716.50lakhsasagainstRs.31,269.48lakhsofthelastyear.BankhadmadeadvancesofRs.17802.78lakhsto10734membersduringthefinancialyear.BankcouldreachtothedesiredCDRatioduringtheyearduetoeffortsatalllevel.

The CD ratio was 67.61%.Thenumberofborrowersstoodat10,674attheendoftheyear

ADVANCESTOPRIORITYSECTOR&WEAKERSECTOR:YourBankiseagerlyfollowingthepolicyprescribedbytheReserveBankofIndiatograntloansandadvancestoprioritysectorandweakersectionandkeeppacewiththegrowthinothertypesofadvances.Ason31.3.2018 theBankhadadvancedRs.19,762.04 lakhs to the priority sector and Rs. 5,038.51 lakhs to the weaker section. Percentageofprioritysectionadvancestothetotaladvancesis53.82%.However,WeakerSectorAdvancesstood to 13.72% as on 31.3.2018.

PURPOSEWISEANALYSISOFADVANCES:TheBank’slendingforvariouspurposesisindicatedinthefollowingtable.

ANALYSISOFADVANCES (ason31.3.2018)

(Rs.inLakhs)

no. Purpose of Loan Amount % no. of Borrowers % 1. Accomodation(Housing) 6,328.39 17.24 4168 39.05

2. SmallScaleIndustries 2,978.60 8.11 655 6.14

3. TradeandCommerce 2,978.70 8.11 1002 9.39

4. Transport Operators 1,887.65 5.14 745 6.98

5. SelfEmployed(Professionals) 1,335.27 3.64 285 2.67

6. Education 308.34 0.84 115 1.07

7. Other Purpose 20,899.55 56.92 3704 34.70

Total 36,716.50 100.00 10674 100.00

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ADVANCESTODIRECTORSANDTHEIRRELATIVES:WearepleasedtoinformthatnoadvancesweregrantedorareoutstandingonanyDirectorortheirRelativesason31st March, 2018.

ELECTIONOFBOARDOFDIRECTORS:ThetenureofpresentBoardwasexpiringon8thJune,2018,henceinordertoconducttheelectionofBoardofDirectorsoftheBankfortheperiod2018–2023,theBoardofDirectorsappointedMr.AshokChandarraoBurpalle,DeputyCommissioner&Secretary,MunicipalCorporationofThaneasReturningOfficerasperprovisionofRule19ofMultiStateCo-operativeSocietiesAct,2002whichwasconfirmed&approvedbytheCentralRegistrarofCooperativeSocieties,Govt.ofIndia,videhisOrderNo.F.No.R-11017/68/2012–L&Mdated28thMarch,2018.Theprocessofelectionwascompletedon13thMay,2018withdeclaringofresultsbytheReturningOfficer,theBoardofDirectorsfortheperiod2018–2023wereelectedunopposedasthenumberofnominationsreceivedwereequaltonumberofvacanciesdeclared.Mr.NajeebSulemanMullaandMr.AsifGulamMohammedDadanwereelectedasChairmanandViceChairmanoftheBankrespectively,unanimouslyandunopposed.Further,theBoardofDirectorshavenominatedMr.MohammedNaveedMohammedIbrahimRoghay(C.A.)andMr.AbdurRashidAbdulLatifShaikh(RetiredA.G.M.R.B.I)asExpertDirectorsaspertheprovisionofBank’sByeLawNo.34(B).ThepresentBoardconsistsofyounganddynamicpersonalities,mostofthemareprofessionalsviz.Doctors,CA,Advocate,Businessmen,whoseexpertisewillcertainlyhelptheBanktoreachnewheights.

nOn PERFORMInG ASSETS :Thestringenteffortsput inbytheRecoveryTeaminco-ordinationwiththeCreditandLegalDepartmentsandstaffatalllevelborefruitsandtheBank’sGrossNPAason31st March, 2018 substantially reduced to 6.71%asagainst10.51%ofthelastfinancialyear.BankispleasedtoinformyouthatitsNetNPAason31stMarch, 2018 stands to 0.12%asagainstlastyear’s0.28%,whichisaremarkableachievementinthehistoryof the Bank.

INVESTMENTS:TheReserveBankofIndiavideitsCircularNo.UBD.(PCB).MC.No.12/16.20.000/2010-11dated1stJuly,2010directedtheCo-operativeBankstocompulsorilyinvestinGovernmentandapprovedsecuritiestotheextentof25%ofitsNDTLason31stMarch,2018.BankhascompliedwiththedirectiveofReserveBankofIndiaandinvestedinSLRSecuritiesinGOIandotherGovernmentapprovedsecurities.BankismaintainingitsDematAccountwithHDFCBankLtd.andSGLAccountwithICICIBankLtd.AllthetransactionsofsaleandpurchaseareroutedthroughSGLandDematAccount.ScheduleannexedtoBalanceSheetgivesadetailedpositionofinvestmentinvarioussecurities.TheReserveBankofIndiavideitsCircularNo.UBD.BPD.(PCB)/Cir.No.68/16.20.000/2013-14dated5thJune,2014revisedtheinvestmentinliquidityratiowitheffectfrom15thJuly,2014wherebyCRRisincreasedby1%to4%andSLRisreducedfrom25%to19.50%ofNDTL,duetowhichsubstantialfundisavailableinmarketforlendinganddevelopment.Further,theBankhasstartedInvestmentTradingduringtheyearwhichhaspaidfruitfulresultsassuchBankcouldearnprofitinInvestmentTradingtotheextentofRs.3.97 crores during the year.

AUDIT&INSPECTION:M/sVindu&Associates,CharteredAccountantconductedthestatutoryauditoftheBankfortheyearended31stMarch,2018andtheBankcouldearn"A"classAuditCertificationfortheyear2017-2018.Inordertohavebetter check on the day to day functioning of the Bank, the different Chartered Accountants were appointed as InternalandConcurrentauditorsforeveryDistricti.e.M/sYardiPrabhu&Associates,CharteredAccountantscarriedoutInternal-cum-ConcurrentAudit ofCentralOfficeBranch,KausaBranchandallsixRatnagiriDistrictBrancheswhereasM/sFakih&Co.,CharteredAccountant,MumbaicarriedoutConcurrentAuditofremaining

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BranchesofMumbaiandThaneDistrictaswellasInternal-cum-ConcurrentAuditforRaigadDistrictBrancheswhereasM/sBhagawathi&BhatCharteredAccountantwasappointedasInternal-cum-ConcurrentAuditorforPanjim(Goa)Branch.

BHARAT BILL PAyMEnT SySTEM :Asalreadyinformed,yourBankisfullycomputerized,workingonCBSandrenderinghasslefreeAnyBranchBankingServicestoitscustomers.Moreover,inordertoprovidemorecontemporaryserviceslikeInternetBanking,MobileBanking,TabBanking,theBoardofDirectorshavedecidedtomigratetonewCBS.ManycustomersareusingBank’sRuPayDebitCardatmorethan1.45lacATMsacrossIndiaandalsomakingdirectpurchasesfromthepointofsale(PoS)terminalsinIndiaundertheRuPayplatform.Further,inordertopromoteGovernmentofIndia’spolicyof“CashLessEconomy”andinordertofacilitateourcustomerstoenhancetheirbusinesswithCardbasedpayments,BankhasintroducedPOSMachineswhichhaveaddedfeaturesofmostoftheWalletsupportedaswellasUPI,QRCodeandBiometricenabled.Thesedevicesareavailableonreasonableoutrightandrentalschemes.MoreovertheBankhasintroducedBharatBillPaymentSystemwherebyouresteemedcustomersandorgeneralpubliccouldpayanyutilitybillacrosstheBank’scounter,thussavingalotoftimestandinginlongqueues, elsewhere.

CAPITALTORISKASSETSRATIO(CRAR):ReserveBankofIndiahasmadeitmandatorytomaintainCapitalAdequacynormseventoCo-operativeBanks.WearepleasedtoinformyouthatyourBankisadequatelymaintainingtheCRAR(CapitaltoRiskAssetsRatio)whichason31.3.2018 stood at 18.33%asagainstrequiredrateof9.00%asperReserveBankofIndia.

ByE LAWS :TheBoardofDirectorshasproposedamendmentstotheByeLawsNo.6(a),12,34,36,49and50(c),detailsofwhichareavailableonPageNo.45ofthisreport,whicharerequiredtobeamendedforbeingatparwithotherrelevantlawsandcircularsrevisedbyReserveBankofIndiafromtimetotime.

HUMANRESOURCE&TRAININGTODIRECTORSANDSTAFF:Trainingistheessenceofupgradingandimprovingtheefficiencyofstaff/officerstogiveuninteruptedandsatisfactorycustomerservices.Bankisregularlydeputingstaff,officers&directorsofthebanktovarioustrainingcentressuchasCollegeofAgriculturalBanking,ReserveBankof India,Pune,VaikunthMehtaNational Institute ofCo-operativeManagementetc.fromtimetotime.Further,theBankisalsoarranginginhousetrainingprogramsforthestaffbyreputedtrainersandfaculties.

PREMISES&DEVELOPMENT:Duringtheyear,theBankhasaddedonemoreassettoitsBalanceSheetbyshiftingitsRajapurBranchfromrentedpremisestoowned,morespaciouspremisesinthebazaarareaofRajapur,whichwillincreasetheBranch’sbusinesspotentialconsiderably.Further,therenovationworkofKalyanBranchpremiseswascarriedoutforcreatingpositiveandcomfortableenvironmentforthestaffaswellasouresteemedcustomersandthesamewasinauguratedduringtheyear.

InDUSTRIAL RELATIOnS : TheBankexpressesitsgratitudetoloyalanddedicatedstaffmembersfortheirselflessservicesrenderedtotheCustomers,DepositorsandMembers.TheIndustrialrelationsduringtheyearremainedverycordial.

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During theyear theManagementsignedagreement forsettlementofemployees&officers for revision inpayscaleandotherworkingconditionswithCo-operativeBankEmployeesUnionandKokanBankOfficersAssociation for a period of three years.

ACKNOWLEDGEMENTS:ItwouldbeappropriatetothankthosewhocontributedtowardstheachievementsandprogressoftheBank.Attheoutset,theDirectorssincerelyacknowledgethecontinuedandever-growingsupportandco-operationoftheBank’sshare-holders,customers,constituentsandwellwishers.TheDirectorsare thankful toOfficersof theReserveBankof India,namely theExecutiveDirector,ChiefGeneralManagers,GeneralManagersandotherOfficersoftheUrbanBank'sSurveillanceDepartmentandExchangeControlDepartmentfortheirvaluableguidanceandco-operationatalltimes.TheBoardalsonoteswithappreciationthecontinuedco-operationfromtheCentralRegistrarforMultiStateCo-operativeSocieties andRegistrar,NewDelhi,Commissioner forCo-operation,Pune,Government ofMaharashtra. TheBoardacknowledgesthevaluablesuggestionsgivenbyM/sVindu&Associates,StatutoryAuditor,Mumbai,duringthecourseoftheirstatutoryauditoftheBankandthankthemforthesame.TheDirectorsarealsogratefultoM/sFakih&Co.,M/sYardiPrabhu&AssociatesandM/sBhagawathi&Bhat, Chartered Accountants, who conducted the internal and concurrent audit at the Branches allotted to them.TheirtimelyguidanceandadviceshaveindeedhelpedtheBankinimprovingtheBank'sfunctioning.TheDirectorsarethankfultoallLegal/LabourAdvisorsandretainersoftheBankforrenderingguidanceandservicesinlegalandlabourmatters.TheBoardalsoacknowledgesselflessservicesrenderedbyallourpanelDoctorsandAdvocates.TheBoardalsoacknowledges selfless serviceprovidedbySubCommitteesof theBank.Their valuablesuggestionhelpedtheBoardinroutinebusinessoftheBanktogreatextent.Lastly,theDirectorsacknowledgeandappreciatededicatedservicesrenderedbytheChiefExecutiveOfficer,DeputyGeneralManager,allExecutives,OfficersandStaffatalllevels,withabeliefthattheywillcontinuetostrivehardtowardstheprogressofthebankmultiplyingtrust....multiplyingprosperity.

ForandonbehalfoftheBoardofDirectors

Mumbai NAJEEB S. MULLA 2ndJune,2018 Chairman

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BALANCESHEET(ason31stMarch2018)

Audited & found correct subject to report

VINDU & ASSOCIATESChartered Accountants

CAPITALANDLIABILITIES Schedule 2017-2018 2016-2017

Rs. Ps. Rs. Ps.

TOTAL Rs. 7,143,816,401.71 7,257,574,731.06

Mumbai 5th June, 2018

CAPITALACCOUNT “A” 147,982,320.00 1,28,083,595.00

RESERVEFUNDANDOTHERRESERVES “B” 1,059,557,346.85 1,087,466,991.63

DEPOSITSANDOTHERACCOUNTS “C” 5,430,662,179.57 5,660,818,337.91

BORROWING 69,880,145.36 ---

BILLSFORCOLLECTIONBEINGBILLS 101,187.44 125,771.35 RECEIVABLE(ASPERCONTRA)

BRANCHADJUSTMENTS --- ---

OVERDUEINTERESTRESERVE(Contra) 142,886,721.57 152,284,713.42

OVERDUEINTERESTRESERVE(PA) 3,805,340.00 ---

InTEREST PAyABLE 8,559,459.00 8,077,033.00

OTHERLIABILITIES “D” 206,482,922.26 173,137,105.29

DEFERRED TAx LIABILITy 4,297,377.33 ---

PROFIT&LOSSACCOUNT “E” 69,601,402.33 47,581,183.46

NOTESONACCOUNTS “M”

CONTINGENTLIABILITIES

31.03.17 31.03.18

Bank Guarantees 7,63,65,670.906,37,04,505.00

DEAF0.0042,78,046.00

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BALANCESHEET(ason31stMarch2018)

CASH “F” In Hand with RBI, SBI, Maharashtra State Co-Op.BankandDistrictCentralCo-Op.Bank. 194,052,951.78 237,793,700.54 BALANCEWITHOTHERBANKS “G” 719,168,581.06 957,472,348.19 MONEYATCALLANDSHORTNOTICE 0.00 270,000,000.00 INVESTMENTS “H” 1,534,527,217.00 1,678,526,817.00 ADVANCES “I” 3,671,650,387.94 3,126,948,332.77

INTERESTRECEIVABLE OnLoans(PA)31,281,960.00 25,227,486.000 OnInvestments90,373,171.11 81,854,640.11 OnNPAs(Contra)142,886,721.57 264,541,852.68 152,284,713.42 BILLSRECEIVABLEBEINGBILLSFOR 101,187.44 125,771.35 COLLECTION(aspercontra) BRANCHADJUSTMENT 32,315.56 434,276.50 FIXEDASSETS “J” GrossBlock754,595,004.41 Less : Accumulated Depriciation227,453,163.08 527,141,841.33 522,843,425.65

OTHERASSETS “K” 232,600,066.92 188,511,981.00 DEFERRED TAx ASSET 0.00 15,551,238.53

PROPERTy AnD ASSETS Schedule 2017-2018 2016-2017

Rs. Ps. Rs. Ps.

TOTAL Rs. 7143,816,401.71 7,257,574,731.06

CHAIRMANMr. Mulla najeeb Suleman

VICE CHAIRMANMr. Dadan Asif Gulam Mohammed

CHIEFExECUTIVEOFFICERMr. khidir Abubakar Husain

DGM(OPERATION)Mr. kondkari Akbar yusuf

DIRECTORSMr. Adhikari Abdul Samad Ibrahim khanDr. Barmare Shahid IshaqueMr. Dabir Asgar MohammedMr. kadlak Milind HiramanMr.KaziAltafMohammedMrs.KaziFaridaRazzakAdv.KaziShakeelHasham

Mrs.KaziTasneemMohammedSharifDr.KondkariImtiyazIbrahim Mr. Mujawar Dilip Abdul RahimanMr. Mulla Sameer MehmoodMr.MurtuzaBashirAminMr. Roghay Mohammed naveed M. Ibrahim Mr. Shaikh Abdur Rashid Abdul Latif

14

PROFITANDLOSSACCOUNT (fortheyearended31stMarch2018)

To Interest on Deposits, Borrowings etc. 303,362,122.45 316,588,410.55 ToSalariesandAllowances,Bonus&P.F. 158,786,914.08 143,013,299.60 ToDirectors&LocalCommitteeMembers 1,785,404.52 1,583,925.00 Fees and Allowances ToRent,Insurance,Lighting&Taxes 20,187,772.38 19,694,703.03 ToLawCharges 931,100.49 820,036.00 ToPostage,Telegrams&TelephoneCharges 5,866,328.37 6,443,778.39 ToAuditFees(Internal&Statutory) 2,734,905.90 3,012,678.50 ToDepreciation 10,467,522.33 9,381,543.18 ToAmortisationofRevaluationReservePremises 16,771,936.88 --- ToStationery,Printing&Advertisement 5,497,086.26 7,102,537.75 To Loss on Sale of Assets 35,055.22 72,020.41 To Premium on Investment amortised 1,801,500.00 1,002,683.00 ToElectionExpenses 715,000.00 715,000.00 ToVoluntaryRetirementScheme 1,843,260.00 1,102,135.00 ToOtherExpenses “L” 33,647,815.90 27,571,952.56 ToBaddebts 38,447,938.00 543,873.30 To ProvisionsandContingencies To ProvisionforBadandDoubtfulDebts --- 60,000,000.00 To Provision for Leave Encashment 15,000,000.00 12,500,000.00 To Provision for Standard Assets --- 5,000,000.00 To Provision for Investment Depreciation 4,064,000.00 --- ToProvisionfoHousingLoanDevelopment 727,300.00 900,530.00 ToNetProfitBeforeTax 136,844,116.14 81,275,495.21 Less:IncomeTax(P.Y.) 741,171.00 --- Less:IncomeTax(C.Y.) 26,783,161.00 35,994,250.00 ToBalanceofProfit 109,319,784.14 45,281,245.21 (Add)/Less:DeferredTax 19,848,615.86 (2,366,480.53) ToNetProfitafterTaxC/D 89,471,168.28 47,647,725.74

759,517,078.92 698,324,602.78 ToPriorPeriodExpense 43,520.21 80,928.25 ToInvestmentFluctuationReserve 21,000,000.00 --- ToNetProfitCarriedToBalanceSheet 69,579,149.32 47,566,797.49 NOTESONACCOUNTSFORMPARTOFACCOUNTS “M”

ExPEnDITURE Schedule 2017-2018 2016-2017

Rs. Ps. Rs. Ps.

TOTAL Rs. 90,622,669.53 47,647,725.74

Audited & found correct subject to report

VINDU & ASSOCIATESChartered Accountants

Mumbai 5th June, 2018

15

PROFITANDLOSSACCOUNT (fortheyearended31stMarch2018)

ByInterestonAdvances 452,894,016.72 393,644,442.02

ByInterestonInvestment 168,007,144.87 193,853,190.98

ByCommission,Exchange&Brokerage 18,421,131.21 14,611,654.48

ByLockerRent 21,597.00 44,300.00

ByOtherReceipts 1,099,093.75 311,752.00

ByProfitonSaleofAssets 60,111.92 77,993.00

ByProfitonSaleofInvestment 39,111,500.00 45,569,000.00

ByProvisionforBDDRwrittenback 38,447,938.00 543,873.30

ByExcessProvisionofIncomeTaxWrittenback --- 3,004,247.00

ByExcessProvisionofBDDRWrittenback 40,000,000.00 ---

ByGainonredemptionofVadoraHalolBonds --- 46,664,150.00

By Recovery in Write Off A/c's 1454,545.45

759,517,078.92 698,324,602.78

ByNetProfitB/D. 89,471,168.28 47,647,725.74

ByPriorPeriodAdjustment 1,151,501.25 ---

, INCOME Schedule 2017-2018 2016-2017

Rs. Ps. Rs. Ps.

TOTAL Rs. 90,622,669.53 47,647,725.74

CHAIRMANMr. Mulla najeeb Suleman

VICE CHAIRMANMr. Dadan Asif Gulam Mohammed

CHIEFExECUTIVEOFFICERMr. khidir Abubakar Husain

DGM(OPERATION)Mr. kondkari Akbar yusuf

DIRECTORSMr. Adhikari Abdul Samad Ibrahim khanDr. Barmare Shahid IshaqueMr. Dabir Asgar MohammedMr. kadlak Milind HiramanMr.KaziAltafMohammedMrs.KaziFaridaRazzakAdv.KaziShakeelHasham

Mrs.KaziTasneemMohammedSharifDr.KondkariImtiyazIbrahim Mr. Mujawar Dilip Abdul RahimanMr. Mulla Sameer MehmoodMr.MurtuzaBashirAminMr. Roghay Mohammed naveed M. Ibrahim Mr. Shaikh Abdur Rashid Abdul Latif

16

SCHEDULESTOBALANCESHEET

SCHEDULE-"A" CAPITAL 150,000,000.00 A)AuthorisedCapital 150,000,000.00 B)Subscribed&PaidupCapital: 165592(165622)fullypaidsharesofRs.10/-each held by 1,599,200.00 i)Individuals 1,598,900.00 57,020.00 ii)Others 57,020.00 1,655,920.00

5853056(5057095)fullypaidsharesof Rs.25/-eachheldby 104,576,175.00 i)Individuals 119,682,850.00 21,851,200.00 ii) Others 26,643,550.00 146,326,400.00 128,083,595.00 147,982,320.00 SCHEDULE-"B" RESERVEFUND&OTHERRESERVES 131,194,939.26 StatutoryReserves 143,431,935.26 320,623,207.84 Bad&DoubtfulDebtsReserve 242,175,269.84 20,111,000.00 ContingentProvisionsforStandardAssets 20,111,000.00 124,442,000.00 BuildingFund 129,942,000.00 6,958,697.85 DividendEqualizationFund 6,958,697.85 30.00 StaffWelfareFund 902,909.22 1,975,000.00 DevelopmentReserve 1,975,000.00 425,000.00 CharitableFund 425,000.00 1,749,164.70 MembersWelfareFund 3,129,164.70 21,706,174.90 ContingencyFund 26,464,292.90 15,315,000.00 InvestmentFluctuationFund 36,315,000.00 33,981,725.00 InvestmentsDepreciationFund 38,045,725.00 383,711,212.12 RevaluationReserve 366,939,275.24 21,338,997.08 GeneralReserve 38,079,933.96 3,934,842.88 SpecialReserve 4,662,142.88 1,087,466,991.63 1,059,557,346.85

SCHEDULE-"C" DEPOSITANDOTHERACCOUNTS 2,596,791,553.70 SavingsBankDeposits 2,393,620,232.60 572,423,862.86 CurrentDeposits 490,420,462.02 2,481,059,489.30 TermDeposits 2,544,452,285.90 10,543,432.05 MaturedTermDeposits 2,169,199.05 5,660,818,337.91 5,430,662,179.57

AS AT 31ST PARTICULARS ASAT31ST

MARCH,2017 MARCH,2018

17




SCHEDULE-"D" OTHER LIABILITIES 17,053,252.48 Payorders/DDspayable 10,174,622.44 0.00 UnpaidDividends 11,775,836.65 29,919,912.46 Sundries 32,257,365.52 116,752,728.55 ProvisionforIncomeTax 144,277,060.55 4,375,026.80 Liabilityforexpenses 2,961,852.10 5,036,185.00 OtherProvisions 5,036,185.00 173,137,105.29 206,482,922.26

SCHEDULE-"E" PROFITANDLOSSACCOUNT 16,312,979.42 ProfitasperlastBalanceSheet 47,581,183.46 - Less:TransferredtoGeneralReserve& --- SpecialReserve 16,312,979.42 47,581,183.46 Less: Appropriations 4,078,244.75 ReserveFund 11,895,296.00 5,719,503.50 ProposedDividend 11,775,836.65 1,631,297.90 ReserveforContingencyFund 4,758,118.00 163,129.80 ReserveforEducationFund 475,811.00 - BuildingFund 5,500,000.00 - Member'sWelfareFund 1,500,000.00 500,000.00 StaffWelfareFund 1,500,000.00 4,206,417.50 ExgratiatoEmployees 10,153,868.80

14,385.97 BalanceofProfitCarrieddown 22,253.01 47,566,797.49 Add:NetProfitasperProfitandLossA/c. 69,579,149.32 47,581,183.46 69,601,402.33 SCHEDULE-"F" CASH 130,825,634.66 InHand 116,197,670.61 116,197,670.61 CurrentDeposits 82,419,077.06 WithReserveBankofIndia 65,284,001.20 13,475,022.26 StateBankofIndia 7,061,602.22 2,073,966.56 DistrictCentralCooperativeBank 2,509,677.75 74,855,281.17

18



FixedDeposits 9,000,000.00 FDRwithState/Dist.CentralCo-Op.Banks 3,000,000.00 3,000,000.00 237,793,700.54 194,052,951.78 SCHEDULE-"G" BALANCEWITHOTHERBANKS

CurrentAccounts nationalised Bank 3,184,751.85 UnionBankofIndia 2,771,719.00 119,956.00 Canara Bank 650,427.00 3,690,843.06 BankofIndia 3,744,254.91 12,974.22 Dena Bank 169,116.56 31,066.85 BankofMaharashtra 67,621.85 306,865.45 BankOfBaroda 2,656,246.45 10,059,385.77

CommercialBanks 31,797,408.76 KotakMahindra 8,390.41 7,522,422.12 ICICIBank 2,217,035.65 105,713,142.18 IDBIBank 47,250,165.12 - IDBI Bank -CSGL 10,000.00 1,071,329.56 HDFCBankLtd 1,224,246.46 1,192,207.15 ICICIBankChequeFacility 1,038,180.15 2,180,628.25 YesBank 9,704,381.48 1,488,319.35 AxisBankLtd 4,364,477.13 65,816,876.40 UrbanCo-operativeBanks 590,479.39 CosmosBank 461,059.89 - TJSB Sahakari Bank 858,615.00 1,319,674.89 158,902,394.19 77,195,937.06 FixedDeposits nationalised Bank 165,711,391.00 UnionBankofIndia 181,499,632.00 181,499,632.00

CommercialBanks 179,883,217.00 IDBIBank 148,440,780.00 - UjjivanSmallFin.Bank 20,808,000.00 - SuryodaySmallFin.Bank 20,643,952.00 53,008,393.00 DCB 13,339,150.00 KotakMahindraBank 33,586,244.00 223,478,976.00


19



UrbanCo-op.Banks 164,600,000.00 Saraswat Co-Op. Bank Ltd 125,000,000.00 165,000,000.00 Punjab&MaharashtraCo-opBankLtd. 105,000,000.00 7,027,803.00 CosmosBank 6,994,036.00 30,000,000.00 KalyanJanataSahakaribank - 20,000,000.00 SVCCo-operativeBank - - Apna Sahakari Bank - 236,994,036.00 798,569,954.00 641,972,644.00 957,472,348.19 719,168,581.06

SCHEDULE-"H"

INVESTMENTS

1,565,461,917.00 1)Central&StateGovt.Securities1,421,462,317.00 1,421,462,317.00 FaceValue-Rs.142,00,00,000/- (Rs.118,00,00,000/-) MarketValue-Rs.1,34,76,79,000/- (Rs.1,16,70,58,000/-) 0.00 2)OtherTrusteeSecurities - 2,000.00 3)SharesinCo-Op.InstitutionandCo.Op. 2,000.00 Housing Society. 113,062,900.00 4)PSUBonds/BondsofallIndiaFinancialInstitutions 113,062,900.00 1,534,527,217.00 1,678,526,817.00 1,534,527,217.00

SCHEDULE-"I"

ADVANCES i) ShortTermLoan,CashCredit,Overdraft and Bill Discounted of which secured against: 798,779,157.12 a)Government&Otherapprovedsecurities 1,022,939,055.47 OutofwhichoverdueRs.Nil(Rs.Nil). 62,679,130.00 b)OtherTangibleSecurities 62,473,141.00 OutofwhichoverdueRs.Nil(Rs.Nil). - c) PersonalSureties - OutofwhichoverdueRs.Nil(Rs.Nil). 463,517,324.82 d)GoldOrnaments 511,566,740.64 OutofwhichoverdueRs.27183108 (Rs.26599168). 1,596,978,937.11

ii) MediumTermLoanofwhichSecuredagainst: 1,286,753.00 a)Government&OtherapprovedSecurities 1,576,392.00 OutofwhichoverdueRs.Nil(Rs.Nil). 1,482,341,405.95 b)OtherTangibleSecurities 1,626,795,745.93 OutofwhichoverdueRs.120141308 (Rs.125917.12)


20


MARCH,2017 MARCH,2018 16,341,890.52 c) PersonalSureties 122,845,273.34 OutofwhichoverdueRs.1630681(Rs.1127116) - d)GoldOrnaments OutofwhichoverdueRs.Nil(Rs.Nil). 1,751,217,411.27 302,002,671.36 iii)LongTermLoansofwhichsecuredagst. TangibleSecurities 323,454,039.56 323,454,039.56 Outofwhichoverdue4591584.00 (163819886.00) (Ofthetotaladvances,Rs.36716.50lacs (Rs.31269.48lacs)consideredBad&Doubtfulof recovery&fullyprovided forRs.2485.58lacs(previousyearRs.2659.64lacs) 3,126,948,332.77 3,671,650,387.94

SCHEDULE-"J" 1.PREMISES-GROSSBLOCK 550,587,867.77 OriginalCostasperLastYear 557,952,616.77 - Add:PremisesRevalued - - Less:Amortisationonrevaluedamount 16,771,936.88 7,364,749.00 Add:Additionsduringtheyear 188,462.53 - Less:Deduction/Soldduringtheyear - 557,952,616.77 SUB-TOTAL(A) 541,369,142.42

53,670,292.70 AccumulatedDeprn.UptoLastYear 73,924,085.28 3,481,855.70 Add:Depreciationduringtheyear 3,522,964.69 16,771,936.88 Add:Amortisationonrevaluedamount - - Add:Amortisationonrevaluedamountof SoldPremises - 73,924,085.28 SUB-TOTAL(B) 77,447,049.97

484,028,531.49 TOTAL(A-B) 463,922,092.45

2. FURnITURE & FIxTURES 76,299,301.07 OriginalCostasperLastYear 80,136,334.57 3,837,033.50 Add:Additionsduringtheyear 1,459,053.90 Less:Deduction/Soldduringtheyear 80,136,334.57 SUB-TOTAL(A) 81,595,388.47

58,607,908.78 AccumulatedDeprn.UptoLastYear 60,591,742.74 1,983,833.96 Add:Depreciationduringtheyear 2,055,353.50 - Less: Depreciation on sale during the year - 60,591,742.74 SUB-TOTAL(B) 62,647,096.24 19,544,591.83 TOTAL(A-B) 18,948,292.23


21



3.VEHICLES 8,078,203.00 OriginalCostasperLastYear 7,296,197.00 582,633.00 Add:Additionsduringtheyear 1,990,946.54 1,364,639.00 Less:Deduction/Soldduringtheyear 3,849,063.00 7,296,197.00 SUB-TOTAL(A) 5,438,080.54

6,771,512.67 AccumulatedDeprn.UptoLastYear 5,835,925.88 232,302.70 Add:Depreciationduringtheyear 392,859.82 1,167,889.49 Less:Depreciationonsaleduringtheyear 3,835,134.37 5,835,925.88 SUB-TOTAL(B) 2,393,651.33

1,460,271.12 TOTAL(A-B) 3,044,429.21

4. COMPUTERHARDWARE&SOFTWARE 73,891,844.15 OriginalCostasperLastYear 76,249,473.84 3,690,480.00 Add:Additionsduringtheyear 5,224,676.53 1,332,850.31 Less:Deduction/Soldduringtheyear 1,962,312.50 76,249,473.84 SUB-TOTAL(A) 79,511,837.87

71,184,989.96 AccumulatedDeprn.UptoLastYear 71,909,319.58 2,057,177.93 Add:Depreciationduringtheyear 2,835,495.57 1,332,848.31 Less:Depreciationonsaleduringtheyear 1,939,248.62 71,909,319.58 SUB-TOTAL(B) 72,805,566.53

4,340,154.26 TOTAL(A-B) 6,706,271.34

5.PLANT&MACHINERY 17,692,418.51 OriginalCostasperLastYear 20,024,040.57 2,377,349.00 Add:Additionsduringtheyear 1,561,426.10 45,726.94 Less:Deduction/Soldduringtheyear 176,734.61 20,024,040.57 SUB-TOTAL(A) 21,408,732.06

8,639,758.63 AccumulatedDeprn.UptoLastYear 10,191,718.33 1,569,887.88 Add: Depreciation during the year 1,597,015.81 17,928.18 Less:Depreciationonsaleduringtheyear 133,784.08 10,191,718.33 SUB-TOTAL(B) 11,654,950.06

9,832,322.24 TOTAL(A-B) 9,753,782.00


22


6.CIVILWORK 578,571.45 OriginalCostasperLastYear 578,571.45 - Add: Additions during the year 156,880.00 - Less:Deduction/Soldduringtheyear - 578,571.45 SUB-TOTAL(A) 735,451.45

383,159.59 AccumulatedDeprn.UptoLastYear 441,016.74 57,857.15 Add:Depreciationduringtheyear 63,832.21 - Less: Depreciation on sale during the year - 441,016.74 SUB-TOTAL(B) 504,848.95

137,554.71 TOTAL(A-B) 230,602.50

6.CAPITALWIP 3,500,000.00 24,536,371.60 522,843,425.65 TOTALFIXEDASSETS(1+2+3+4+5+6) 527,141,841.33 SCHEDULE"K" OTHER ASSETS 16,518,696.68 Miscellaneous Assets 14,949,279.05 15,385,099.54 TDSPaid 16,677,446.54 127,036,420.00 AdvanceTax 162,036,420.00 1,064,889.00 AdvancetowardsComputer 202,740.00 1,905,000.00 DepositonRentalPremises 10,455,000.00 1,326,075.89 DepositswithBEST,BMCetc. 1,302,054.27 1,617,599.89 StockofPrinting&Stationery 1,698,813.06 18,583,200.00 NonBankingAsset 18,998,714.00 5,075,000.00 DeferredRevenueexpenses 6,279,600.00 232,600,066.92 188,511,981.00 232,600,066.92



23

SCHEDULE-“L” OTHER ExPEnDITURE 1,370,658.04 BankCharges 1,493,655.48 605,849.00 ConveyanceCharges 649,402.00 1,736,781.09 MiscellaneousExpenses 1,769,918.22 385,186.00 MeetingExpenses 638,208.82 3,843,153.34 MaintenanceCharges 4,936,774.68 - MaintenanceRupaySwitchCharges 1,299,352.24 217,704.00 Subscription 255,811.00 3,015,506.45 Expansion&Development 764,770.18 215,326.00 WaterCharges 138,147.06 5,060,460.85 SecurityChargesA/c 5,809,208.71 637,700.00 MeetingAllowance 798,500.00 4,208,094.09 ComputerMaintenance 3,889,003.18 596,489.00 Vehicle Maintenance 619,521.11 947,564.00 Professional Charges 2,940,194.50 333,897.00 TrainingExpenses 765,959.09 - Comm.A.c.Agent 365,575.00 12,688.00 R.T.O.Charges 25,440.00 - RecoveryExpenses 80.00 - Interest&PenaltyforGST 700.00 2,327,249.50 ComputerSoftware 2,161,982.33 27,738.00 TravellingExpenses 44,401.00 96,770.00 Transportation Charges 44,069.00 1,334,197.20 StaffWelfareExpenses 1,678,211.05 - CommissiononYESBankATM 1,283,944.80 103,005.00 EstablishmentExpenses 549,005.50 495,936.00 AnnualGeneralMeetingExp 725,980.95 33,647,815.90

27,571,952.56 33,647,815.90

AS AT 31ST PARTICULARS AS AT 31ST

MARCH2017 MARCH2018

SCHEDULESTOPROFITANDLOSSACCOUNT

24

SUBSCHEDULESTOSCHEDULE



SUBSCHEDULE1 DEPOSITANDOTHERACCOUNTS (Sub-ScheduletoSchedule-"C) Savings Bank Deposits 2,577,868,733.35 SavingsBankAccounts 2,378,622,445.43 2,819,189.10 EasySaving 1,916,444.23 4,236,238.04 KokanJuniorsavingdeposit 4,449,213.81 11,867,393.21 Non-Res.(Ext)Saving 8,632,129.13 2,393,620,232.60

2,596,791,553.70 572,423,862.86 CurrentAccounts 490,420,462.02 490,420,462.02 Term Deposits 513,853,727.05 Fixed 504,975,602.051,492,252,338.40 Fixed-cum-Recurring 1,549,719,872.60 43,008,830.00 Recurring 47,893,302.00 278,474,769.00 MonthlyInterestDepositReceipt 280,352,497.00 60,874,028.85 Multiple 61,312,454.85 31,914,041.00 Non.Res(External)Term 30,284,902.00 305,137.00 K.B.D.D.C. 14,350,862.00 36,059,418.00 Lak.Dep.Scheme 32,772,749.00 11,417,700.00 KokanBankMonthlyScheme 7,105,600.00 - DonationsSavingDeposit 1,684,944.40 12,899,500.00 FDEarmarkedForSDV 13,999,500.00 2,544,452,285.90

2,481,059,489.30 10,543,432.05 Matured Term Deposits 2,169,199.05 2,169,199.05

10,543,432.05

5,660,818,337.91 5,430,662,179.57 SUBSCHEDULE2 SUnDRIES (Sub-scheduletoSchedue-"D")

3,432,889.59 UnidentifiedDeposits 3,348,382.25 8,915,292.14 OtherCreditors 7,723,883.61 372,142.95 SecurityDepositsofEmployees 423,910.00 1,102,500.00 Cheque Awaiting for Clearance - - Commissionrecd.Inadvance 472,000.00 - SGSTpayable 197,370.20 - CGST payable 197,100.71 101,062.39 AuthorisedCollectionAgentFund 3,201.50 2,542,268.00 Sundry Creditors-TDS 2,667,559.00 844,756.25 ExcessCash 1,125,096.25

25




109,001.14 DEAFReceivable - 12,500,000.00 ProvisionforLeaveEncashment 16,098,862.00 32,257,365.52

29,919,912.46 32,257,365.52 SUBSCHEDULE3 PROVISIONFORINCOMETAX

17,744,998.55 ProvisionforIncomeTax(A.Y.2010-11) 17,744,998.55 26,600,000.00 ProvisionforIncomeTax(A.Y.2013-14) 26,600,000.00 5,524,210.00 ProvisionforIncomeTax(A.Y.2015-16) 5,524,210.00 30,889,270.00 ProvisionforIncomeTax(A.Y.2016-17) 30,889,270.00 35,994,250.00 ProvisionforIncomeTax(A.Y.2017-18) 36,735,421.00 - ProvisionforIncomeTax(A.Y.2018-19) 26,783,161.00 144,277,060.55

116,752,728.55 144,277,060.55 SUBSCHEDULE4 OTHER ASSETS (Sub-scheduletoSchedule-K) Miscellaneous Assets 1,682,444.18 PrepaidExpenses 1,815,708.60 4,994,299.00 Suspense 4,994,299.00 4,500.00 ClearingSuspense(Receivables) - 6,810,007.60 StockofStamps 32,286.00 i)Adhesive 36,354.00 2,895.50 ii)Postal 1,648.00 38,002.00 36,064.00 StockofPancardCoupons 34,594.00 34,594.00 6,197,500.00 AdvancepaymenttoGratuityTrust 3,397,500.00 46,860.00 MarginmoneywithSaraswatBank 46,860.00 863960.00 EmployeesFestivalAdvance 814,590.00 2287400.00 AdvancetowardsStaffMediclaim 3,653.00 195674.00 ForPettyCash 252,803.00 174814.00 AdvancetowardsPOSMachine 163,941.00 - CGSTReceivable 2,545,994.27 - SGSTReceivable 688,617.45 - IGSTReceivable 119,069.18 - InputtaxcreditCGST 13,904.78 - InputtaxcreditSGST 13,904.77 - DEAFclaimreceivable-RBI 5,838.00 8,066,675.45

16,518,696.68 14,949,279.05

26

SUBSCHEDULE5 OTHER ASSETS (Sub-scheduletoSchedule-K) TDS PAID 1,910,959.23 TDSPaid(A.Y.2010-11) 1,910,959.23 203,997.94 TDSPaid(A.Y.2013-14) 203,997.94 2,809,493.00 TDSPaid(A.Y.2014-15) 2,809,493.00 415,974.00 TDSPaid(A.Y.2015-16) 415,974.00 449,754.37 TDSPaid(A.Y.2016-17) 449,754.37 9,594,921.00 TDSPaid(A.Y.2017-18) 9,594,921.00 - TDSPaid(A.Y.2018-19) 1,292,347.00

15,385,099.54 16,677,446.54 SUBSCHEDULE6 OTHER ASSETS (Sub-scheduletoSchedule-K) AdvanceTax 15,797,360.00 AdvanceTax(A.Y.2010-11) 15,797,360.00 24,689,060.00 AdvanceTax(A.Y.2013-14) 24,689,060.00 16,050,000.00 AdvanceTax(A.Y.2014-15) 16,050,000.00 12,000,000.00 AdvanceTax(A.Y.2015-16) 12,000,000.00 33,500,000.00 AdvanceTax(A.Y.2016-17) 33,500,000.00 25,000,000.00 AdvanceTax(A.Y.2017-18) 37,000,000.00 - AdvanceTax(A.Y.2018-19) 23,000,000.00

127,036,420.00 162,036,420.00




27

SCHEDULE-“M”

NOTESFORMINGPARTOFTHEPROFITANDLOSSACCOUNT FOR THE yEAR EnDED 31STMARCH,2018ANDBALANCESHEETASONTHATDATE.

I. 1) OVERVIEW TheKokanMercantileCo-op.BankLtd.(KokanBank)wasincorporatedin1969andhascompletedits49years ofprovisionofwiderangeofbankingandfinancialservicesincludingcommercialbankingandtreasuryoperations.

2) BASISOFPREPARATION Thefinancialstatementshavebeenpreparedandpresentedunderthehistoricalcostconventionontheaccrual basisofaccounting,unlessotherwisestated,andcomplywithgenerallyacceptedaccountingprinciples,statutory requirementsprescribedunderTheBankingRegulationAct1949,andtheMultiStateCo-operativeSocieties Act,2002,circularsandguidelinesissuedbytheReserveBankofIndia(‘RBI’)fromtimetotime,theAccoun ingStandards(‘AS’) issuedbytheInstituteofCharteredAccountantsof India(‘ICAI’)andcurrentpractices prevailingwithinthebankingIndustryinIndia.

3) USEOFESTIMATES Thepreparationofthefinancialstatements,inconformitywithgenerallyacceptedaccountingprinciples,requires managementtomakeestimatesandassumptionsthataffectthereportedamountsofassetsandliabilities, revenuesandexpensesanddisclosureofcontingentliabilitiesatthedateofthefinancialstatements.Actual resultscoulddifferfromthoseestimates.Managementbelievesthattheestimatesusedinthepreparationof thefinancialstatementsareprudentandreasonable.Anyrevisionstotheaccountingestimatesarerecognized prospectively.

II. SIGNIFICANTACCOUNTINGPOLICIES:

1) AccountingConvention Thefinancialstatementsaredrawnupkeepinginmindthehistoricalcostandgoingconcernconceptandin accordancewithgenerallyacceptedaccountingprinciplesandpracticesprevailinginBankingIndustryinIndia, exceptotherwisestated.

2) RevenueRecognition IncomeandExpenditureareaccountedonaccrualbasisexceptasstatedbelow:

i) InterestonAdvancesclassifiedasSub-Standard,DoubtfulorLossAssetsisrecognisedonrealisation, asperIncomeRecognitionnormsofRBI.TheunrealisedinterestinthesecasesisaccountedinOverdue InterestReserve.

ii) InterestonFixedIncomeSecuritiesisrecognisedonaccrualbasisincaseitisservicedregularly.Dividend Incomeisaccountedondeclarationofdividend

iii) LeaveencashmentandAnnualMaintenanceContractFeesareaccountedoncashbasis.

iv) Expensesof capital natureandotherwise like software, electionexpenseandVoluntaryRetirement Scheme(VRS)expenditureetc.,aretreatedasDeferredRevenueExpenditureandarewrittenoffas under:

Software 3years

ElectionExpenses 5years

VRS 5 years

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v) Ex-gratiapayabletoemployeesisnotchargedtoProfit&LossA/c.butappropriatedfromtheProfit& LossA/c.aftermandatoryappropriationanddividendaspertheprovisionsofMultiStateCo-operative Societies Act, 2002.

3) Advances a) AdvancesareclassifiedintoStandard,Sub-Standard,DoubtfulandLossAssetsinaccordancewiththe guidelinesissuedbytheReserveBankofIndiafromtimetotime.

b) ProvisiononAdvancescategorizedunderSub-Standard,DoubtfulandLossAssetsismadeinaccordance withtheguidelinesissuedbytheReserveBankofIndia.Inaddition,ageneralprovisiononStandard AssetsismadeasperRBIMasterCircularNo.RBI/2015-16/77DCBR.BPD.(PCB)MCNo.14/13.05.000/2015- 16 dated July 1, 2015..

c) TheoverdueinterestinrespectofadvancesclassifiedasNon-PerformingAssetsisprovidedseparately under“OverdueInterestReserve”asperthedirectivesissuedbytheRBI.

4) Investments i) TheBank has categorized the investments in accordancewithRBI guidelines applicable toUrban Co-operativeBanks.Accordingly,classificationofinvestmentsforthepurposeofvaluationisdoneunder the following categories:

a)HeldtoMaturity(HTM) b)AvailableforSale(AFS) c)HeldforTrading(HFT)

ii) Investmentshavebeenclassifiedunder4groupsasrequiredunderRBIguidelines–Governmentsecurities, OtherTrusteeSecurities,Shares,PSUBonds&othersforthepurposeofdisclosureintheBalanceSheet.

iii) InvestmentsearmarkedagainstStatutoryReserveFundandOtherFundsandInvestmentsunderHTM categoryaretreatedasPermanent Investmentsandcarriedatcost.Other investmentsaretreatedas CurrentInvestmentsasrequiredbyAS13ofInstituteofCharteredAccountantsofIndia.

iv) InvestmentsclassifiedunderHeldtoMaturitycategoryhavebeencarriedatacquisitioncost.Non-performing securitiesarefullyprovidedfor.InthecaseofsecuritiesunderHeldtoMaturityCategorywhereinthe acquisitioncostismorethanthefacevalue,thepremiumamountisamortisedovertheremainingperiod ofmaturity.

v) SecuritiesunderAvailableforSale/HeldforTradingcategoryaremarkedtomarket.Securitiesarevalued scrip-wiseandaggregatedcategory-wise.Depreciation/appreciationundereachcategoryarenettedand thenetdepreciationisprovidedfor.Netappreciationisignored.

vi) MarketvalueinthecaseofStateGovt.andotherSecurities,forwhichquotesarenotavailableisdetermined onthebasisofthe“YieldtoMaturity”indicatedbyFixedIncomeandMoneyMarketDerivativesAssociation ofIndia(FIMMDA)andFinancialBenchmarkIndiaPvtLtd(FBIL).

vii) CostofBrokerage,Fees,Commissionandbrokenperiodinterestatthetimeofacquisitionofsecurities arerecognisedasrevenueexpenses

5)FixedAssetsandDepreciation i) FixedAssetsarestatedathistoricalcostlessaccumulateddepreciationinaccordancewithAS-10issued byICAI.FixedAssetsincludeincidentalexpensesincurredonacquisitionandinstallationoftheassets

ii) Depreciationisprovidedonwrittendownvalueonallthefixedassetsexceptcomputersandpremises. DepreciationoncomputersiscalculatedunderStraightLineMethod.

iii) Depreciationonpremisesiscalculatedonthebasisofratedeterminedwithreferencetoresiduallifeof eachitemofpremises.

iv) Fixedassetsaredepreciatedat the ratesasdeterminedby themanagementexceptdepreciationon computerswhichischarged@331/3%asperRBIguidelines,whichisasunder:

29

Furniture&Fixtures 10%Vehicles 15%Computers 331/3%PlantandMachinety 15%CivilWork 10%

v) DepreciationonassetspurchasedarechargedonPro-ratabasistotheextentofassetputtouse.

vi) Profit/Lossonsaleordisposal ofassetisrecognizedintheyearinwhichsuchsaleordisposaltakes place.

vii) a) ThesurplusarisingoutofrevaluationofpremisescarriedoutiscreditedtotheRevaluationReserve intheBalanceSheet.Thisreserveisusedtoamortisethesurplusarisingoutofdifferencebetween revaluedcarryingamountoftheassetanditsoriginalcostovertheremainingusefullifeofthepremises.

b) Thewholeofrevaluationsurplusistransferredtothegeneralreserveswhentheassetisderecognised, retired or disposed off.

c) Inrespectofpremiseskeptinusebythebank,yearlyamortizationofrevaluationsurplusofthepremises is debited to Profit and Loss account along with depreciation on original cost of premises. Correspondingly,yearlyamortizationofrevaluationsurplusofthepremisesisdebitedtorevaluation reservewithidenticalcredittogeneralreserve.

6) StaffRetirementBenefits(AS-15) i) TheliabilitytowardsgratuityisassessedonactuarialvaluationinaccordancewithProjectedCreditUnit MethodasperAccountingStandard–15(Revised)andthesameisfullyprovidedfor.

(ii) Bank’scontributiontoProvidentFundisaccountedforonthebasisofcontributiontothescheme.

(iii) Leaveencashmentisaccountedoncashbasis

7) SegmentReporting(AS-17) InaccordancewiththeAccountingStandard-17issuedbyICAI,SegmentReportingismadeasunder:

l Treasuryincludesallinvestmentportfolio,profit/lossonsaleofinvestments,profit/lossonforeignexchange transactions,equitiesandmoneymarketoperations.Theexpensesof thissegmentconsistof interest expenses on funds borrowed fromexternal sources aswell as internal sources and depreciation / amortizationofpremiumonHeldtoMaturitycategoryinvestments.

l OtherBankingOperationsincludeallotheroperationsnotcoveredunderTreasuryoperations.

8) Leases(AS19) LeasepaymentsforassetstakenonoperatingleasearerecognizedintheProfitandLossAccountoverthe leaseterminaccordancewiththeAS-19–Leases,issuedbyICAI.

9) EarningsPerShare(AS20) Basicanddilutedearningspersharearecalculatedbydividingthenetprofitfortheperiodbytheweighted averagenumberofsharesoutstandingduringtheyear.Theweightedaveragenumberofsharesiscalculated onmonthlybasis.

10)AccountingForTaxesOnIncome(AS22): a) Taxexpensecomprisesofbothdeferredandcurrenttaxes.Deferredincometaxesreflecttheimpactof currentyeartimingdifferencesbetweentaxableincomeandaccountingincomefortheyearandreversal oftimingdifferencesofearlieryears.

30

b) DeferredTaxisbasedontaxratesandthetaxlawseffectiveattheBalanceSheetdate.

c) Deferredtaxassetsarerecognizedonlytotheextentthatthereisreasonablecertaintythatsufficientfuturetaxable incomewillbeavailableagainstwhichsuchdeferredtaxassetscanberealized.

11)IntangibleAssets(AS-26) ComputerSoftwarepurchasedforBank’suseisamortizedonaStraightLineMethod(SLM)basis@331/3%, consideringtheusefullifeas3years,inaccordancewithRBIguidelines

12)Provisions,contingentliabilitiesandcontingentassets(AS-29): AprovisionisrecognizedwhentheBankhasapresentobligationasaresultofpasteventwhereitisprobable thatanoutflowofresourcesembodyingeconomic benefitswillberequiredtosettletheobligation,inrespect ofwhichareliableestimatecanbemade.Provisionsarenotdiscountedtoitspresentvalueexceptincaseof decommissioning,restorationandsimilarliabilitiesthatarerecognizedascostofProperty,PlantandEquipment andaredeterminedbasedonbestestimateoftheexpenditurerequiredtosettlethepresentobligationatthe balancesheetdate.Thesearereviewedateachbalancesheetdateandadjustedtoreflectthecurrentbest estimates.

Adisclosureofcontingentliabilityismadewhenthereis:

i) Apossibleobligationarisingfromapastevent,theexistenceofwhichwillbeconfirmedbyoccurrenceor nonoccurrenceofoneormoreuncertainfutureeventsnotwithinthecontroloftheBank;or

ii) Apresentobligationarisingfromapasteventwhichisnotrecognizedasitisnotprobablethatanoutflow ofresourcesembodyingeconomicbenefitswillberequiredtosettletheobligationorareliableestimate oftheamountoftheobligationcannotbemade.

When there isapossibleorapresentobligation in respectofwhich the likelihoodofoutflowof resources embodyingeconomicbenefitsisremote,noprovisionordisclosureismade.

Contingentassetsarenotrecognizedinthefinancialstatements.However,contingentassetsareassessed continually.

III.NOTESFORMINGPARTOFTHEACCOUNTSFORTHEYEARENDED31STMARCH,2018.

1) TheBankhaswrittenoffanamountofRs.384.48lakhs(Rs.5.44lakhs)towardsbaddebtsandwhichisidentified bytheManagementasirrecoverable,approvedbytheBoardofDirectorsandcertifiedbytheStatutoryAuditors. ThesameisadjustedagainstBadandDoubtfulDebtsReserves.Thisamounthadbeenfullyprovidedforin the earlier years.

2) TheBankhasacceptedtheapplicationsforVRSfrom09employeeswithtotalconsiderationofRs.37.64lakhs duringtheyear.TheVRSexpendituretreatedasDeferredRevenueExpenditureisdebitedtoProfit&Loss Accountbyamortising@20%p.a.amountingtoRs.18.43lakhsinaccordancewiththeBank’sAccountingPolicy. UnamortisedVRSexpenditureofRs.62.80lakhsisappearingunderthehead“DeferredRevenueExpenditure”.

3) Bank’sIncomeTaxAssessmentforA.Y.2013-14isfinalised.TheIncomeTaxdepartmenthasraisedademand ofRs.52,080.00.Beingaggrievedbythedemand,thebankhasfiledanappealagainstthedemand.However, there is a contingent liability of Rs. 52,080.00 on the bank.

4) Bank’sIncomeTaxAssessmentforA.Y.2014-15isfinalised.TheIncomeTaxdepartmenthasraisedademand ofRs.1,36,24,590.00.Beingaggrievedby thedemand, thebankhasfiledanappealagainst thedemand. However,thereisacontingentliabilityofRs.1,36,24,590.00onthebank.

5) Detailsofloanssubjectedtorestructuringduringtheyearended31stMarch,2018aregivenbelow:

31

(Rsinlakhs)

Sr. Particulars Housing Loan CDR SME Debt Others No. Mechanism Restructuring

1. Standard No. of - - - 02 advances Borrowers restructured Amount outstanding - - - 501.08 Diminutionin thefairvalue - -

2. Sub-standard No. of - - - - advances Borrowers restructured Amount - - - - outstanding Diminutionin - - - - thefairvalue

3. Doubtful No.of - - - - advances Borrowers restructured Amount - - - - outstanding Diminutionin - - - - thefairvalue

Total No. of - - - 02 Borrowers Amount - - - 501.08 outstanding Diminutionin - - - - thefairvalue

Theserestructuredloansconstituteabout1.36%ofthetotaladvancesasat31.03.2018.

Amountandnumberofaccountsinrespectofwhichapplicationsreceivedandunderprocess,buttherestructuring packageshavenotyetbeenapproved-NIL(NIL)ason31.03.2018.

6) OtherReceiptsincludemiscellaneousearningsofRs.158,532.00,LegalNoticefeesofRs.210418.00and CENVATCreditClaimofRs.730,082.75.

7) PriorPeriodExpensesandIncome(AS-5)

Prior period expenses ofRs. 43,520.21 pertain to Legal charges ofRs.20,125, Lease Line charges of Rs. 21,645.21 andMaintenance charges ofRs. 1,750 for the FY 2016-17 andPrior Period Income of Rs.11,51,501.25pertaintoCenvatCredit,fortheFY2016-17.

8) Property,PlantandEquipments(AS-10)

a) TheBankhasdisclosedthefixedassetsanddeprecationintheBalanceSheetinaccordancewithAS-10 issuedbyICAIandupdateditsFixedAssetRegisterincompliancewithsaidaccountingstandards.

b) TheBankwasamortisingrevaluationsurplusonpremisesonyearlybasisonthebasisofusefulresidual lifeofthepremisesand debitingthesametorevaluationreservewithcorrespondingcredittopremises. However,duetoapplicabilityofrevisedAS-10witheffectfrom01.04.2017,thebankhastochangeits

32

accountingpolicytofallinlinewiththeprovisionsofrevisedAS-10.Accordingly,thebankhasdebited yearlyamortizationofrevaluationsurplusofthepremisesofRs.167.72LakhstoProfitandLossaccount alongwith depreciation ofRs. 35.23 Lakhs on original cost of premises.Correspondingly, yearly amortizationofrevaluationsurplusofthepremisesofRs.167.72Lakhsisdebitedtorevaluationreserve withidenticalcredittogeneralreserve.Hadthebankcontinuedtheearlierpolicyofamortisingrevaluation surplusbydebittorevaluationreserve,thebank’sprofitwouldhavebeenhigherby167.72lakhs.

9) RetirementBenefits(AS-15)

a) TheaccountingofleaveencashmentoncashbasisisnotinaccordancewiththeAccountingStandard 15 (AS-15) regardingRetirementBenefits andAccountingStandard 9 (AS-9) regardingRevenue RecognitionissuedbytheInstituteofCharteredAccountantsofIndia(ICAI).However,thebankhasmade adhocprovisionofRs.150lacstowardsleaveencashmentduringtheyear.Sincetheamountpayable toemployeesonaccountofleaveencashmentonactuarialbasisisnotmadeavailable,theeffectofthe sameontheprofitoftheBankisnotquantifiable.

b) TheBankpaidfundsofRs.61.97lakhsto“KokanBankStaffGratuityFund”,whichwasinexcessof itsactuarialliability.ThesaidamountofexcesspaymentofRs.61.97lakhsmadetothefundisparked as“AdvancePaymenttoGratuityTrust”underthehead“OtherAssets”.TheBankhassetoffofRs.28 lakhstowardsgratuity liabilityofcurrentyear(onthebasisofactuarialvaluationdulycertifiedbythe Actuary)outofthesaidadvancepayment.ThebalanceofRs.33.97lakhsisshown“AdvancePayment toGratuityTrust”underthehead“OtherAssets”.

c) ThedetailsasrequiredbyAccountingStandard15(Revised)pertainingtoGratuityisasunder:(Rs.Inlacs)

Sr. Particulars Gratuity(Funded) Gratuity(Funded) No. 31.03.2017 31.03.2018 1 Discountrate 6.90%p.a. 7.68%p.a.

2 ExpectedReturnonplanassets 8.00%p.a. 8.00%p.a

3 Salaryescalationrate 7.41% 7.41%

4 Reconciliation of opening and closing balance of thepresentvalueofthedefinedbenefitobligation: i Presentvalueofobligationasat01-04-2017 1313.87 1308.37

ii Interestcost 95.93 86.68

iii Currentservicecost 30.82 30.80

PastServiceCost - -

iv Benefitspaid (93.17) (104.13)

v Actuarialgains/(loss)onobligations (39.08) (47.88)

vi Presentvalueofobligationasat31-03-2018 1308.37 1273.84

5 Reconciliation of opening & closing balance of fair value of fair plan assets: i Fairvalueofplanassetsasat01-04-2017 1358.75 1378.69

ii. AdjustmenttoOpeningBalance - -

iii Expectedreturnonplanassets 104.97 106.14

iv Contributions - -

33

v Transferfromotherentities - -

vi Benefitspaid (93.17) (104.13)

vii Actuarialgain/(loss)onplanassets 8.14 9.50

viii Fairvalueofplanassetsasat31-03-2018 1378.69 1390.20

6 AmountrecognizedinBalanceSheet i Presentvalueofobligationsasat31-03-2018 1308.37 1273.84

ii FairvalueofPlanAssetsasat31-03-2018 1378.70 1390.20

iii. FundedStatus 70.33 116.36

iv NetAssets/liabilityasat31-03-2018 70.33 116.35

7 ExpensesrecognizedinProfit&LossAccount i Currentservicecost 30.82 30.80

ii Interestcost 95.93 86.68

iii. Past Interest cost - -

iv ExpectedreturnonPlanAssets (104.97) (106.14)

v. Netactuarialgain/(loss) (47.22) (57.38)

vi. ExpensesrecognizedinProfit&LossAccount (25.44) (46.02)

10) PrimarySegmentReporting(ByBusinessSegments)AccountingStandard17(AS17)

Particulars Treasury Other Banking Total Operations 31st March 2018 Revenue 2071.19 4739.50 6810.69 (2394.22) (4558.99) (6953.21) SegmentCost 1296.68 4732.14 6028.82 (1227.15) (4159.34) (5386.49) Result 774.51 7.36 781.87 (1167.07) (399.65) (1566.72) Add:ExtraordinaryItems 0.00 (0.00) Net Result 781.87 (1566.72) Less:UnallocatedProvisionsandContingencies 197.91 (784.02) Add:Reserves&Fundswrittenback 784.48 (30.04) ProfitBeforeTax 1368.44 (812.76) IncomeTax/DeferredTaxAsset 473.73 (336.28)

34

NetProfitAfterTax 894.71 (476.48) PriorPeriodAdjustment/IFR 198.92) (0.81) NetProfitTrfd.ToBalanceSheet 695.79 (475.67) OTHER InFORMATIOn SegmentAssets 22698.73 46632.90 69331.63 (25679.52) (45130.681) (70810.20) Unallocated Assets 2106.53 (1765.55) TotalAssets 71438.16 (72575.75) SegmentLiabilities 743.61 54924.58 55668.19 (492.97) (58576.13) (59069.10) Unallocated Liabilities 15769.97 (13506.65) TotalLiabilities 71438.16 (72575.75)

i) TheBankiscateringmainlytotheneedsofIndiancustomers,operatesasasingleunitinIndia,henceseparate informationregardinggeographicalsegmentisnotgiven.

ii) Businesssegmentsareclassifiedasunder-

a) Treasury:DealingoperationsinMoneyMarketInstruments,Trading/InvestmentinBonds/Government Securities.

b) OtherBankingOperations:Localfinance/services.

iii)Theabovesegmentsarereportedbasedonthenatureofproducts/servicesandtheirattributablerisks/returns, overallorganizationalstructureandtheinternalmanagementreportingsystemoftheBank.

11) RelatedPartiesandDisclosure(AS-18)

TheBankisaCo-operativeSocietyundertheMultiStateCo-operativeSocietiesAct,2002andtherearenoRelated PartiesrequiringdisclosureunderAccountingStandard18issuedbyI.C.A.I.,otherthanKeyManagementPersonnel i.e.Mr.A.H.Khidir,theChiefExecutiveOfficeroftheBank.However,intermsoftheReserveBankofIndiaCircular dated29.03.2003,hebeingasinglepartycoveredbythiscategory,nofurtherdetailsthereonneedtobedisclosed.

12) ConsolidatedFinancialStatements(AS-21)

SinceBankdoesnothaveanySubsidiaryCompanies/Co-OperativeSocieties, theAccountingStandard21 (AS-21)regardingconsolidatedfinancialstatementsisnotapplicabletotheBank.

13) AccountingfortaxesonIncome(AS-22)

ThemajorcomponentsofDeferredTaxLiability(net)arisingonaccountoftimingdifferencesbetweenbookprofit andtaxableprofitsasat31stMarch,2018areasfollows

35

(Rs.inlacs)

Particulars Balance as on For the Balance as on 31.03.2017 year 31.03.18

DeferredTaxAsset

DepreciationonInvestments (105.33) - (105.33)

Bad&DoubtfulDebtsReserve 584.88 (271.49) 313.39

LeaveEncashment 33.04 12.45 45.49

TOTAL(A) 512.59 (259.04) 253.55

DeferredTaxLiability

DepreciationonFixedAssets (267.62) 60.55 (207.07)

ProvisionforGratuity (89.45) - (89.45)

TOTAL(B) (357.07) 60.55 (296.52)

NetDeferredTaxAsset(Liability)(A-B) 155.52 (198.49) (42.97)

TheapplicationofDeferredTaxhasresultedinanetdebitofRs.198.49lakhstotheProfitandLossAccountfor theyearendedMarch,2018.TheclosingDeferredTaxLiability(net)ofRs.42.97lacshasbeenshownseparately in the Balance Sheet

14) LEASES(AS19)

LeaserentalobligationsinrespectofassetstakenonoperatingleasearechargedtoProfitandLossAccount onstraight-linebasisovertheleaseterm.InitialdirectcostsarechargedtoProfitandLossAccount.

TheBankhascancellableoperatingleasesandthedisclosuresunderAS-19on“Leases”issuedbyICAIare as follows:

(Rs.Inlacs)

Particulars 31.03.2017 31.03.2018 Futureleaserentalpayableasattheendoftheyear:

Notlaterthanoneyear 21.56 20.38

Laterthanoneyearandnotlaterthanfiveyears 39.88 19.49

Laterthanfiveyears - -

Totalofminimumleasepaymentsrecognizedinthe ProfitandLossAccountfortheyear 32.41 32.23

Totaloffutureminimumsub-leasepaymentexpectedto bereceivedundernon-cancellablesub-lease 0 0

Sub-leasepaymentsrecognizedintheProfitand Loss Account for the year 0 0

36

15) EARNINGSPERSHARE(EPS)(AS20):

Particulars 31.03.2017 31.03.2018 A Profitaftertax(Rs.InLakhs) Amountusedasnumerator 476.48 894.71

B NominalvalueofShare(Rs.PerShare) Rs.10/- Rs.10/- Rs.25/- Rs.25/-

C NumberofEquitysharesusedasthedenominator 4,937,316 5,594,264

D EPS–Basic&Diluted(inRs.) 9.65 15.99

16) DetailsofExpenditureonComputerSoftware(AS-26)

DetailsofComputerSoftwareinaccordancewithAccountingStandard26onIntangibleAssetsissuedbyICAI are as under :

Particulars Amount(Rs.inlacs)

31.03.2017 31.03.2018

Carryingamountatthebeginningoftheyear 0.85 0.27

Add: Additions during the year - 19.70

0.85 19.97

Less:Amortisationduringtheyear 0.58 2.04

Carryingamountattheendoftheyear 0.27 17.93

17) ImpairmentofAsset(AS-28)

TheBankhasascertainedthatthereisnomaterialimpairmentofanyofitsassetsandassuchnoprovision under Accounting Standard 28 issued by the ICAI is required.

18) AS-29–ContingentLiabilities

31.03.2017(Rs.) Particulars 31.03.2018(Rs.)

7,63,65,670.90 BankGuarantees 6,37,04,505.00

19) ContingentLiabilities–Others

In termsofDBODCircularNo.DEAFCell.BC.114/30.01.002/2013-14datedMay27, 2014, theBankhas transferredcreditbalancesamounting toRs.16.67 lakhs (mentioned insub-clause i) toviii) inClause3of DEAFScheme2014)maintainedwiththeBankwhichhavenotbeeninoperationfor10yearsormore.The required disclosure as per the said circular is as under:

(Rs.inlakhs)

Particulars 31.03.2017 31.03.2018

OpeningbalanceofamountstransferredtoDEAF 20.34 26.01

Add:AmountstransferredtoDEAFduringtheyear 5.67 16.67

Less:AmountsreimbursedbyDEAFtowardsclaims 0.00 0.00

ClosingbalanceofamountstransferredtoDEAF 26.01 42.68

37

TheBankhasnotpaidanyamounttothecustomers/depositorstowardsthesaiddepositswhichhaveremained unclaimedfor10yearsormoreasnoclaimwaslodgedwiththebankduringtheyear.

IV. DisclosureasperRBICircularNo.UBDCOBPD(PCB)Cir.No.52/12.05.001/2013-14dated25.03.2014:(Rs.inlacs)

SrNo. Particulars 31.03.2017 31.03.2018 1) CapitaltoRiskAssetRatio(CRAR) 17.28 18.33 2) MovementofCRAR(BasisPoint) 1.08 1.05 RiskWeightedassets 35,456.99 41,082.92 3) ValuesofInvestmentsareasunder: Government/ApprovedSecurities-(SLR) Book Value 15654.62 14214.62 FaceValue 11800.00 14200.00 MarketValue 12129.34 13476.79 FixedDepositswithState,District,CentralCooperativeBanks and other banks 8075.70 6449.73 Bonds of Public Sector Undertakings BookValue 1130.63 1130.63 FaceValue --- 2240.00 Market Value -- 1608.73 SharesinCo-operativeInstitutions 0.02 0.02 TotalBookValue 24860.97 21795.00 4 AdvancesagainstRealEstate,ConstructionBusiness,Housing ConstructionBusiness&RealEstate 6367.97 5852.52 Housing 1897.70 2876.14 Shares & Debentures 0.00 0.00

5.CompositionofNonSLRInvestmentsason31stMarch2018(Rs.inlacs)

Sr. Issuer Amount Extentof‘below Extentof Extentof No. Investmentgrade’ ‘unrated ‘unlisted’ Securities securities’ securities

1 PSUs 503.59 Nil Nil 503.59

2 FIs 398.32 Nil Nil 398.32

3 Public,PrivateBanks&Co-opbank 228.72 Nil Nil 228.72

4 Others(sharesinco-opinstitutes) Nil Nil Nil Nil

Total 1130.63 1130.63

5 Provisionheldtowardsdepreciation 380.46 Nil Nil 380.46

Total 380.46 nil nil 380.46

TherewerenoRepo/ReverseRepoTransactionsduringtheyear.

38

6.Non-PerformingNon-SLRInvestment (Rs.inlakhs)

Particulars 31.03.2017 31.03.2018 Amount Amount

Opening Balance nil nil

Additions during the year since 1st April nil nil

Reductionsduringtheaboveperiod nil nil

Closing Balance * nil nil

Total provisions held nil nil

TherewerenoRepo/ReverseRepoTransactionsduringtheyear.

SrNo. Particulars 31.03.2017 31.03.2018 8) Average cost of deposits 6.17 5.54 10) NPAs a) GrossNPAs 3286.11 2463.23 b) NetNPAs 79.88 41.48 c) NonPerformingInvestment NIL NIL 11) MovementinNPA OpeningBalance 4659.28 3286.11 Add: Additions during the year 626.26 485.46 Less:Closed/Recovered/WrittenOff 1999.43 1308.34 ClosingBalance 3286.11 2463.23 12) DisclosureofNetNPAs GrossNPAs 3286.11 2463.23 Less: Net Reductions during the year - - Less:Provisionsduringtheyear 3206.23 2421.75 Net NPAs 79.88 41.48 13) Profitability a) Interestincomeasapercentageofworkingfunds 8.27 8.87 b) Non-interestincomeasapercentageofworkingfunds 1.51 0.86 c) Operatingprofitasapercentageofworkingfunds 2.20 2.84 d) ReturnonAssets(NetProfit/Averageofworkingfunds)% 0.74 1.31 e) Business(Deposits+Advances)peremployee(Rs.inlacs) 355.78 316.05 f) Profitperemployee(Rs.inlacs) 1.93 3.12

7.AdvancesofRs.36,716.50lakhs(Rs.31,269.48lakhs)shownintheBalance-sheetinclude: (Rs.inlakhs)

Particulars 31.03.2017 31.03.2018 AdvancetoDirectors,theirrelativesandCompanies/Firmsinwhich they are interested NIL NIL

39

14) a) Provisionrequired-BDDR 2018.46 1658.88 b) Provisionmade-BDDR 3206.23 2421.75 15) Movementinprovisions A. Towards NPAs OpeningBalance 2611.67 3206.23 Add: Additions during the year 600.00 -- Less:Closed/Recovered/WrittenOff/Reversed 5.44 784.48 ClosingBalance 3206.23 2421.75 B. Towards Standard Assets Opening Balance 151.11 201.11 Add: Additions during the year 50.00 -- Closing Balance 201.11 201.11 C. TowardsDepreciationonInvestments OpeningBalance 404.63 339.82 Add: Additions during the year -- 40.64 Less:Closed/Reversed/Transferred/writtenbackduringthe year 64.82 -- Closingbalance 339.81 380.46 16) Foreigncurrencyassets N.A N.A ForeigncurrencyLiabilities N.A N.A 17) PaymenttoDICGCpremiumuptodate(noarrearsthereof) 58.91 65.89

18) NopenaltyhasbeenimposedbyReserveBankofIndiaduringtheyear.

19) Previousyear’sfigureshavebeenre-grouped/re-arrangedwherevernecessarytoconformtothepresentationof the accounts of the current year

SrNo. Particulars 31.03.2016 31.03.2017

40

CASH FLOW STATEMENT FOR THE YEAR ENDED 31st MARCH, 2018

PARTICULARS RS.(InLacs) 1 CASHFLOWFROMOPERATINGACTIVITIES

(A) NetprofitasperProfit&LossA/C 894.71

Add: ProvisionsforTax 275.24

Add: DeferredTax 198.49

Add : Non-Cashitems

Depreciation 104.68

Lossonsaleofasset 0.35

Premiumoninvestment 18.02

AmortisationofRevaluationreserve 167.72

LeaveEncashment 150.00

ProvisionforInvestmentdepreciation 40.64

Provisionforhousingdevfund 7.27

Less : Non-Cashitems

ExcessITwrittenback

Profitonsaleofasset 0.60

ProvisionforBDDRwrittenback 384.48

ExcessprovisionofBDDRwrittenback 400.00

Profitonsaleofinvestment 391.12

Operatingprofitbeforechangesinoperatingassets 3,033.31 Less:Taxespaid (350.00)

Less:Leaveencashmentpaid (114.01)

(B) (Increase)/DecreaseinOperatingAssets:

Branchadjustment 4.02

Advances (5,447.02)

Deposits (2,301.56)

Borrowings 698.80

(Increase)/DecreaseinOtherAssets (440.88)

(Decrease)/IncreaseinOtherLiabilities&Provisions 333.46

Decrease/(Increase)inInterestreceivable (145.73)

(Decrease)/IncreaseinInterestPayable 4.82

(Decrease)/IncreaseinOIR (93.98)

(7,388.07)

41

ASPEROURREPORTOFEVENDATE ThisistheProfit&LossA/CreferredtoinourReportofEvenDate. FORKOKANMERCANTILECO-OP.BANKLTD. FORVINDU&ASSOCIATES CHARTEREDACCOUNTANTS FRn:140385W

A. H. kHIDIR VINDUCHAURASIYA CHIEFEXECUTIVEOFFICERPROPRIETRESS MembershipNo:149726

PLACE:MUMBAI DATED : 5th June 2018

NETCASHFROMOPERATINGACTIVITIES (i) (4,818.77)

2 CASHFLOWFROMINVESTINGACTIVITIES

DecreaseinInvestments 1,458.01

PurchseinFixedAssets (1,551.02)

Profitonsaleofinvestment -

Profitonsaleofasset -

Lossonsaleofasset (0.35)

NETCASHFROMINVESTINGACTIVITIES (ii) (93.36)

3 CASHFLOWFROMFINANCINGACTIVITIES

Proceedsfromshareissue 198.99

(Decrease)/Increaseinreserves (807.31)

NETCASHFROMFINANCINGACTIVITIES (iii) (608.32) NETINCREASE/(DECREASE)INCASH& CASHEQUIVALENTS(i)+(ii)+(iii) (5,520.45)

CASH&CASHEQUIVALENTSATTHEBEGINNING OF THE yR 14,652.66 CASH&CASHEQUIVALENTSATTHEENDOF THEYEAR 9,132.21

Detailsofcashandcashequivalents 31.03.18 31.03.17

InhandandwithRBI 1,814.82 2,132.45

FixedDeposits 6,449.73 8,075.70

Balance with other banks 867.67 1,744.51

Money at call and Short notice - 2,700.00

TOTAL 9,132.22 14,652.66

42

INDEPENDENT AUDITORS’ REPORTFOR THE yEAR EnDED 31STMARCH,2018

(UnderSection31oftheBankingRegulationAct,1949andSection73(4)ofMultiStateCo-Operative SocietiesAct,2002andRule27ofMultiStateCo-OperativeSocietiesRules).

ToThe Members,KokanMercantileCo-op.BankLtd.,Mumbai.

Report on the Financial Statements1. WehaveauditedtheaccompanyingfinancialstatementsofKOKANMERCANTILECO-OP.BANKLTDasat31st

March,2018,whichcomprisetheBalanceSheetasat31st March, 2018,ProfitandLossAccountandthecashflowstatementfortheyearthenendedandasummaryofsignificantaccountingpoliciesandotherexplanatoryinformation.Thereturnsof25branchesauditedbyusareincorporatedinthesefinancialstatements.Sinceallthebranchesaresubjectedtostatutoryaudit,thematterofsubmissionofdetailsofpercentofadvances/deposits/interestincome/interestexpenseofunauditedbranchesisnotapplicable.

Management’s Responsibility for the Financial Statements2. Managementisresponsibleforthepreparationofthesefinancialstatementsthatgiveatrueandfairviewofthe

financialposition,financialperformanceandcashflowsoftheBankinaccordancewithprovisionsofTheBankingRegulationsAct,1949,MultiStateCo-operativeSocietiesAct,2002andTheMultiStateCo-operativeSocietiesRules,2002(asapplicable), theguidelines issuedby theReserveBankof IndiaandTheCentralRegistrarofCo-operativeSocietiesandaccountingprinciplesgenerallyacceptedinIndiasofarasapplicabletoBanks.Thisresponsibilityincludesthedesign,implementationandmaintenanceofinternalcontrolsrelevanttothepreparationandpresentationofthefinancialstatementsthatarefreefrommaterialmisstatement,whetherduetofraudorerror.

Auditor’s Responsibility3. Ourresponsibilityistoexpressanopiniononthesefinancialstatementsbasedonouraudit.Weconductedour

audit in accordance with Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standardsrequirethatwecomplywithethicalrequirementsandplanandperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancialstatementsarefreefrommaterialmisstatements.

4. Anaudit involvesperformingprocedurestoobtainauditevidenceabouttheamountsanddisclosuresinthefi-nancialstatements.Theproceduresselecteddependontheauditor’s judgement, includingtheassessmentoftherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror.Inmakingthoseriskassessments,theauditorconsidersinternalcontrolrelevanttotheBank’spreparationandfairpresentationofthefinancialstatementsinordertodesignauditproceduresthatareappropriateinthecircumstancesbutnotforthepurposeofexpressinganopiniononeffectivenessoftheBank’sinternalcontrol.Anauditalsoincludesevaluatingtheappropriatenessofaccountingpoliciesusedandthereasonablenessoftheaccountingestimatesmadebymanagement,aswellasevaluatingtheoverallpresentationofthefinancialstatements.

5. Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforourauditopinion.

BasisforQualifiedOpinion6. TheBankhasaccountedleaveencashmentoncashbasisinsteadofactuarialbasisasrequiredbyAS-15regard-

ingRetirementBenefitsandAS-9regardingRevenueRecognitionissuedbyICAI.Sincetheamountpayabletoemployeesonaccountofleaveencashmentonactuarialbasisisnotmadeavailable,theeffectofthesameonProfitoftheBankisnotquantifiable(Refernote9(a)ofNotestoAccounts).

QualifiedOpinion7. Subjecttoourcommentinpara6above,inouropinionandtothebestofourinformationandaccordingtothe

explanationsgiventous,theaforesaidfinancialstatementstogetherwiththenotesthereonandourobservations

43

andcommentsgivenintheAuditMemorandum,givetheinformationrequiredbytheBankingRegulationAct,1949,theMultiStateCo-operativeSocietiesAct,2002andMultiStateCo-operativeSocietiesRules,2002andguidelinesissuedbyReserveBankofIndiaandtheCentralRegistrarofCo-operativeSocieties,inthemannersorequiredandgiveatrueandfairviewinconformitywiththeaccountingprinciplesgenerallyacceptedinIndia:

(i) inthecaseoftheBalanceSheet,ofthestateofaffairsoftheBankasat31stMarch,2018; (ii) inthecaseoftheProfitandLossAccount,oftheprofitfortheyearendedonthatdate;and (iii) inthecaseoftheCashFlowStatement,ofthecashflowsfortheyearendedonthatdate.

Report on Other Legal and Regulatory Requirements 8. TheBalanceSheetandtheProfitandLossAccounthavebeendrawnupinForms“Ä”and“B”respectivelyofthe

3rdscheduletotheBankingRegulationAct,1949

9. Asrequiredbysection73(4)oftheMultiStateCo-operativeSocietiesAct,2002,wereportthat: (a) Wehaveobtainedalltheinformationandexplanations,whichtothebestofourknowledgeandbelief,were

necessaryforthepurposeofourauditandhavefoundthemtobesatisfactory. (b) Inouropinion,properbooksofaccountasrequiredbylawhavebeenkeptbytheBanksofarasitappears

fromourexaminationofthosebooksandproperreturnsadequateforthepurposesofouraudithavebeen receivedfromthebranches/officesnotvisitedbyus.

(c) AsrequiredbySection30(3)oftheBankingRegulationAct,1949,wefurtherreportthatthetransactionsof theBankwhichcametoournoticehavebeenwithinthepowersoftheBank.

(d) TheBalanceSheetandtheProfitandLossAccountdealtwithbythisreport,areinagreementwiththebooks of account and the returns.

(e) TheConcurrentauditreportsontheaccountsofthebranchesauditedbybranchauditorshavebeenforwarded tousandhavebeenproperlydealtwithbyusinpreparingthisReport.

(f) TheaccountingstandardsadoptedbytheBankareconsistentwiththoselaiddownbyaccountingprinciples generally accepted in India so far as applicable to Banks.

10. Inadditiontopara8aboveasrequiredbyRule27(2)(d)and(e)oftheMultiStateCo-operativeSocietiesRules,2002 we further report that:

(i) Inouropinionandaccordingtoinformationandexplanationsgiventous,wehavenotnoticedanymaterial improprietyorirregularityintheexpenditureorintherealizationofmoneyduetothebankonourtestcheck verification;

(ii) Inouropinionandaccordingtoinformationandexplanationsgiventous,theguidelinesissuedbytheReserve BankofIndiahavegenerallybeenadheredto.SincetheBankhasneitheraccepteddepositsnorreceived subsidyfromNationalBankforAgricultureandRuralDevelopment,ourcommentsregardingadherenceof guidelines issued by the said Bank are not called for.

11. AsrequiredbyRule27(3)(a)to(f)oftheMultiStateCo-operativeSocietiesRules,2002wegiveintheannexure,ascheduleonthemattersspecifiedinthesaidRule.

12. TheBankhasbeenawardedAuditClass“Ä”fortheyearendedon31stMarch2018.

ForVINDU&ASSOCIATES,CHARTERED ACCOUNTANTS,

FRN:140385W

(VINDUCHAURASIYA)PLACE:MUMBAI PROPRIETRESSDATED : 5.06.2018 M.NO.149726

44

ANNEXURE TO INDEPENDENT AUDITOR’S REPORTFOR THE yEAR EnDED 31STMARCH,2018

(AsreferredinClause11ofourreportofevendateason31stMarch,2018).

AsrequiredbytheRule27(3)oftheMulti-StateCo-operativeRules,2002,wereportonthemattersspecifiedinclauses(a)to(f)ofthesaidRuletotheextentapplicabletotheBank.

(a) Duringthecourseofouraudit,wehavegenerallynotcomeacrosstransactionswhichappeartobecontraryto theprovisionsoftheAct,theRulesortheBye-LawsoftheBank.

(b) Duringthecourseofouraudit,wehavenotcomeacrossmaterialandsignificant transactionswhichappear tobecontrarytotheguidelinesissuedbytheReserveBankofIndiaonourtestcheckverification.SincetheBank hasneitheraccepteddepositsnorreceivedsubsidyfromNationalBankforAgricultureandRuralDevelopment, ourcommentsregardingtransactionscontrarytotheguidelinesissuedbythesaidBankarenotcalledfor.

(c) ThefollowingmoniesduetotheBankappeartobedoubtfulofrecovery.(Advancescategorizedasdoubtfuland lossassetsasperprudentialnormsareconsideredasdoubtfulofrecovery).

Category AmountOutstanding ason31.03.18(Rs.inlacs)DoubtfulAssets 1,493.92Loss Assets 579.81Total *2,073.73

* AprovisionofRs.1,619.93Lakhshasbeenmadeagainsttheaboveadvances.

(d) Aspertheinformationprovidedtousandtothebestofourknowledge,thefollowingcreditfacilitieshavebeen sanctionedbytheBanktothemembersoftheBoardortheirrelatives:

Particulars Amountoutstanding SecurityValue Overdues,ifany

FundBased NIL NIL NIL

NonFundBased NIL NIL NIL

(e) Duringthecourseofouraudit,wehavegenerallynotcomeacrossanyviolationsofguidelines,conditionsetc. issuedbytheReserveBankofIndia.SincetheBankhasneitheraccepteddepositsnorreceivedsubsidyfrom NationalBankforAgricultureandRuralDevelopment,ourcommentsregardingviolationsofguidelinesissued by the said Bank are not called for.

(f) Tothebestofourknowledge,noothermattershavebeenspecifiedbyTheCentralRegistrarofCo-operative Societies, which require reporting under this Rule.

ForVINDU&ASSOCIATES,CHARTERED ACCOUNTANTS,

FRN:140385W

(VINDUCHAURASIYA)PLACE:MUMBAI PROPRIETRESSDATED : 5.06.2018 M.NO.149726

45

AMENDMENT TO THE BANK’S BYE LAWS

Sr. Byelaw PresentBye-laws Amendment TextofBye-laws Reasonfor no. no. Proposed After Amendment Amendment

1 6(a) Theauthorizedshare Toreplacefigure Theauthorizedshare ToincreaseAuthorised capitaloftheBankshallbe “15,00,00,000/-”by capitaloftheBankshallbe ShareCapitalofthe Rs.15,00,00,000/- “25,00,00,000/-” Rs.25,00,00,000/- Bank. (FifteenCrore)whichshall (TwentyFiveCrore)which havethefacevalueof shallhavethefacevalueof Rs.25/-eachshare(shares Rs.25/-eachshare(shares issued&subscribedearlier issued&subscribedearlier atthefacevalueofRs.10/- atthefacevalueof willremainunchanged.) Rs.10/-willremain unchanged.)

2 12 RIGHTS AnD DUTIES OF THE MEMBERS : Themembersshallhave Themembersshallhave the following rights and the following rights and duties : duties : (i)Amembershallbe (i)Toaddtheword (i)Amembershallbe entitledtoexercisehisright “provided”after entitledtoexercisehis tovoteasamemberfrom “…admissionasamember” righttovoteasamember thedateofadmissionasa fromthedateofadmission member asamemberprovided: -- (a)Toadd“Shallhave (a)“Shallhaveminimum Toprescribeminimum minimumsharesof sharesofRs.1,000/-in requirementto Rs.1,000/-inorderto ordertoexercisevoteinthe becomeactive exercisevoteintheelection electionofBoardof membertoparticipate ofBoardofDirectors”. Directors”. infunctioningofthe

Bank. (ii)toreceivenoticeof (ii)toreceivenoticeof generalbodymeetingsas generalbodymeetingsas per the bye-laws of the per the bye-laws of the Bank. Bank. (iii)toattendandtakeactive (iii)toattendandtakeactive part in the proceedings of part in the proceedings of thegeneralbodymeeting. thegeneralbodymeeting. (iv)totakepartinelections (iv)totakepartinelections and contest for any post as and contest for any post as perprovisionoftheAct, perprovisionoftheAct, Rules and Bye-laws of the Rules and Bye-laws of the Bank. Bank. (v)toinspectmember (v)toinspectmember registers, books of accounts registers, books of accounts or any other record and or any other record and obtaincertifiedcopiesofthe obtaincertifiedcopiesofthe resolutionsordocuments resolutionsordocuments onapaymentoffeeasmay onapaymentoffeeasmay

46


be prescribed by the Board be prescribed by the Board ofDirectorsfromtimeto ofDirectorsfromtimeto time. time.

3 34 CONSTITUTIONOFTHE To replace the present CONSTITUTIONOFTHE BOARDOFDIRECTORS: Bye Laws by the following : BOARDOFDIRECTORS: Theexecutivemanagement Theexecutivemanagement ofthebankshallvestinthe ofthebankshallvestinthe hands of the Board of hands of the Board of Directors consisting of the Directors consisting of the following : following : 17Directorswillbeelected Toreplacethenumber“17” 16Directorswillbeelected byallthemembersofthe by“16” byallthemembersofthe Bank in the General Body Bank in the General Body meetinginthefollowing meetinginthefollowing manner: manner: i)9DirectorsontheBoard i)9DirectorsontheBoard formembersenrolledand formembersenrolledand residing in the Greater residing in the Greater MumbaiMunicipal MumbaiMunicipal Corporation Area. Corporation Area. ii)1DirectorontheBoard ii)1DirectorontheBoard formembersenrolledand formembersenrolledand residing in the Thane residing in the Thane District. District. iii)1DirectorontheBoard iii)1DirectorontheBoard formembersenrolledand formembersenrolledand residing in the Ratnagiri residing in the Ratnagiri District. District. iv)1DirectorontheBoard TodeleteByeLaw iv)Deleted TherebeingnoBank formembersenrolledand No.34(iv) BranchinSindhudurg residing in the Sindhudurg District and therefore District. no rep resentation is required on the Board. v)1DirectorontheBoard v)1DirectorontheBoard formembersenrolledand formembersenrolledand residing in the Raigad residing in the Raigad District. District.

vi)1DirectorontheBoard TodeleteByeLaw vi)Deleted TherebeingnoBank formembersenrolledand No.34(vi) BranchinRestof residing in the Rest of Maharashtra and Maharashtra State. therefore no

representation is required on the Board. vii)1DirectorontheBoard vii)1DirectorontheBoard shallbereservedfora shallbereservedfora

47

memberbelongingtothe memberbelongingtothe Scheduled Caste or Scheduled Caste or Scheduled Tribe. Scheduled Tribe. viii)2Directorsonthe viii)2DirectorsontheBoard Boardshallbereservedfor shallbereservedfor women. women. ix)Toadd“1Directoron ix)1DirectoronBoardfor Togiverepresentation Boardformembersenrolled membersenrolledand onBoardtomembers and residing in rest of area residing in rest of area of residing and enrolled ofoperationoftheBank.” operationoftheBank. inrestofareaof (otherthanmentioned (otherthanmentioned operationoftheBank. hereinabove) hereinabove)

4 36 DISQUALIFICATIONFOR DISQUALIFICATIONFOR BEInG A MEMBER OF BEInG A MEMBER OF THE BOARD : THE BOARD : 1.AmemberoftheBank 1.AmemberoftheBank shall be ineligible for being shall be ineligible for being elected as or for being a elected as or for being a memberoftheBoardis memberoftheBoardis suchmember: suchmember: a.hasbeenadjudgedbya a.hasbeenadjudgedbya competentcourttobe competentcourttobe insolventorofunsound insolventorofunsound mind. mind. b. is concerned or b. is concerned or participatesintheprofitsof participatesintheprofitsof any contract with the Bank. any contract with the Bank. c.hasbeenconvictedforan c.hasbeenconvictedforan offenceinvolvingmoral offenceinvolvingmoral turpitude. turpitude. d.holdsanyofficeorplace d.holdsanyofficeorplace ofprofitundertheBank, ofprofitundertheBank, providedthattheChief providedthattheChief ExecutiveOfficerorsuch ExecutiveOfficerorsuch full-timeemployeeofthe full-timeemployeeofthe Bankasmaybenotifiedby Bankasmaybenotifiedby theCentralGovernment theCentralGovernment fromtimetotimeora fromtimetotimeora person elected by the person elected by the employeesofsuchBankto employeesofsuchBankto representthemtotheboard representthemtotheboard of Bank shall be eligible for of Bank shall be eligible for being chosen as, or for being chosen as, or for being,amemberofsuch being,amemberofsuch board. board.


48


e.hasbeenamemberof e.hasbeenamemberof the Bank for less than the Bank for less than twelvemonthsimmediately twelvemonthsimmediately preceding the date of such preceding the date of such electionorappointment. electionorappointment. f. has interest in any f. has interest in any business of the kind carried business of the kind carried on by the Bank or which he on by the Bank or which he isamember. isamember. g.hastakenloanfromthe g.hastakenloanfromthe Bank of which he is a Bank of which he is a member,orisotherwise member,orisotherwise indebted to Bank and after indebted to Bank and after the receipt of a notice of the receipt of a notice of defaultissuedtohimby defaultissuedtohimby Bank, has defaulted. Bank, has defaulted. i)inrepaymentofloanor i)inrepaymentofloanor debt,withinthedatefixed debt,withinthedatefixed forrepaymentorpayment forrepaymentorpayment orwheredateisextended, orwheredateisextended, which in no case shall which in no case shall exceedsixmonthswithin exceedsixmonthswithin thedatesoextended,or thedatesoextended,or ii)whensuchloanordebtis ii)whensuchloanordebtis tobepaidininstallments, tobepaidininstallments, inpaymentorany inpaymentorany installment,andtheamount installment,andtheamount in default or any part thereof in default or any part thereof hasremainedunpaidonthe hasremainedunpaidonthe expiryorsixmonthsfrom expiryorsixmonthsfrom the date of such default. the date of such default. Providedthatamemberof Providedthatamemberof theboardoroneyear,from theboardoroneyear,from the date on which he the date on which he ceasedtoholdoffice, ceasedtoholdoffice, forre-electionasamember forre-electionasamember of the board of the Bank. of the board of the Bank. h.isapersonagainstwhom h.isapersonagainstwhom anyamountdueundera anyamountdueundera decree, decision or order decree, decision or order ispendingrecoveryunder ispendingrecoveryunder this Act. this Act. i.isretainedoremployedas i.isretainedoremployedas a legal practitioner on a legal practitioner on behalf of or against the behalf of or against the Bank or on behalf of or Bank or on behalf of or against any other Bank. against any other Bank. Explanationforpurposeof Explanationforpurposeof

49


thisclause,“legal thisclause,“legal practitioner”hasthesame practitioner”hasthesame meaningasinClause(i) meaningasinClause(i) ofsub-section(1)ofsection ofsub-section(1)ofsection 2oftheAdvocatesAct, 2oftheAdvocatesAct, 1961(25of1961). 1961(25of1961). j.hasbeenconvictedfor j.hasbeenconvictedfor any offence under this Act. any offence under this Act. k.isdisqualifiedforbeing k.isdisqualifiedforbeing amemberundersection29. amemberundersection29. l.hasbeenexpelledasa l.hasbeenexpelledasa memberundersection30. memberundersection30. m.absentshimselffrom m.absentshimselffrom threeconsecutiveboard threeconsecutiveboard meetingsandsuchabsence meetingsandsuchabsence has not been condoned by has not been condoned by the board. the board. n.absentshimselffrom n.absentshimselffrom threeconsecutivegeneral threeconsecutivegeneral bodymeetingsandsuch bodymeetingsandsuch absence has not been absence has not been condonedbythemembers condonedbythemembers in the general body. in the general body. o.Toadd“ishaving o.ishavinglessthan Toprescribeminimum lessthanRs.1,00,000/- Rs.1,00,000/-depositfor requirementtocontest depositforminimumtwo minimumtwopreceding theelectionofBoard precedingfinancialyearsin financialyearsinwhich ofDirectors. which election of Board of election of Board of Directors is due or Directors is due or scheduled to be held, scheduled to be held, in order to contest the in order to contest the election of Board of election of Board of Directors in General Directors in General CategoryHoweverfor Category.Howeverfor ReserveCategorysame ReserveCategorysame willbe50%oftheGeneral willbe50%oftheGeneral Category.” Category. p.Toadd“ishaving p.ishavinglessthan Toprescribeminimum lessthanRs.10,000/- Rs.10,000/-sharesinorder requirementtocontest shares in order to contest to contest the election of the election of Board the election of Board of Board of Directors. of Directors. Directors.”

50


5 49 LInkInG OF SHARE HOLDInG WITH LOAn LIMITS : a)Aborrowershouldhold Todeletetheword“oneor” a)Aborrowershouldhold sharesatleast5percentof after“……cleanoverdraft sharesatleast5percent hisborrowingsandsuch loansagainst” ofhisborrowingsandsuch borrowings are on an borrowings are on an unsecured basis i.e. in the unsecured basis i.e. in the formofcleanoverdraft formofcleanoverdraft loans against one or two loans against two personal personal sureties and sureties and purchase purchase discount of clean discount of clean bills and bills and cheques. cheques. b)Aborroweragainst Toreplacetheword“2½ b)Aborroweragainst Inordertoreduce tangiblesecuritiesshould percent”with“1percent”. tangiblesecuritiesshould sharelinkingtoavail holdsharesofthebankto Andadd“withonepersonal holdsharesofthebankto secureloanto theextentofatleast2½ surety”after“borrowings theextentofatleast members, percentofhisborrowings fromtheBank.” 1percentofhisborrowings fromtheBank. fromtheBankwithone

personal surety c)Inthecaseofloansfor Toreplacetheword“one” c)Inthecaseofloansfor Inordertoreduce smallscaleindividualunits, with“half”after“…..might smallscaleindividualunits, sharelinkingtoavail thelinkingofsharecapital befixedinitiallyat”.Andto thelinkingofsharecapital secureloanto mightbefixedinitiallyatone replacetheword“2½”with mightbefixedinitiallyat members percentoftheborrowingsto “1”after“…….nexttwo halfpercentofthe beraisedinthecourseof yearsto”. borrowingstoberaisedin thenexttwoyearsto2½ thecourseofthenexttwo percent. years to 1 percent.

6 50(c) Donationforthe Toreplace“5%”by“2%”. Donationforthe TobeatparwithRBI developmentofthe developmentofthe circularUBD(PCB)/ co-operativemovementor co-operativemovementor BPD/Cir.43/09.72. charitablepurposeas charitablepurposeas 00/2004-05date11th definedinsection2ofthe definedinsection2ofthe April,2005 CharitableEndowmentAct, CharitableEndowmentAct, 1890notexceeding5%. 1890notexceeding2%.

51

PROGRESSATAGLANCE (AmountinLakhs)

Sr. Year Share Members Working Reserve Deposits AdvancesProfit Dividend No. No. No. Capital Capital & Paid of of Surplus Gross Net Rate Branches Staff

01 1969-70 0.39 375 0.39 0.04 Nil 0.36 0.01 0.00 Nil 1 NA

02 1974-75 5.15 2842 20.11 0.31 13.94 12.46 1.69 0.35 6% 1 NA

03 1979-80 19.73 7621 283.13 6.48 246.45 121.63 24.84 3.60 10% 3 NA

04 1984-85 76.23 22223 1639.51 69.09 1412.34 882.89 183.27 35.82 12% 6 NA

05 1989-90 164.37 33790 5081.06 332.99 4344.37 2907.84 566.18 95.94 12% 9 NA

06 1994-95 225.88 36184 9613.78 858.79 8099.42 4187.83 501.57 28.39 8.50% 10 386

07 1999-2000 383.36 41955 18035.24 1994.16 15207.03 7408.43 1239.21 -284.74 Nil 21 473

08 2000-01 416.20 42572 18483.05 2233.18 15153.66 8273.98 330.18 138.58 Nil 21 471

09 2001-02 453.05 43305 18660.76 2426.15 15411.43 9537.12 268.74 172.18 5% 21 464

10 2002-03 463.78 43617 19963.61 2519.17 16591.05 9279.13 143.18 29.16 4% 21 455

11 2003-04 492.94 43662 22018.37 2716.70 18414.75 10237.63 313.24 62.89 9% 21 439

12 2004-05 543.96 43707 23254.75 2627.63 19331.95 12449.35 277.05 73.62 9% 21 369

13 2005-06 559.02 43784 28202.29 3964.36 23249.48 12648.16 293.68 76.86 9% 21 355

14 2006-07 617.51 45007 31767.00 4539.28 25966.59 16245.73 281.13 71.75 6% 21 346

15 2007-08 693.97 44731 35935.95 4397.54 29170.43 18627.60 323.91 101.05 10% 21 337

16 2008-09 730.22 44803 39047.38 4599.19 31707.30 20962.63 397.02 171.85 12% 21 319

17 2009-10 751.44 44864 42135.60 4841.78 34662.18 19679.62 322.38 142.90 8% 23 316

18 2010-11 770.67 44926 46963.47 4987.70 38923.13 21161.02 356.95 82.19 7% 25 305

19 2011-12 870.01 49257 51129.85 5310.88 41025.43 27877.42 477.65 227.43 10% 25 295

20 2012-13 907.79 49389 53537.83 5958.98 42243.68 28842.17 507.96 262.03 12% 25 286

21 2013-14 955.64 49520 57472.35 6330.74 47943.51 27724.06 664.80 415.01 12% 25 281

22 2014-15 1076.55 49688 58735.93 7124.22 48861.21 28454.27 794.39 160.99 9% 25 276

23 2015-16 1143.90 49584 63767.36 10314.25 50698.50 28756.83 1073.54 160.52 10% 25 267

24 2016-17 1280.84 49881 71051.64 10874.67 56608.18 31269.48 1620.43 475.67 10% 25 248

25 2017-18 1479.82 50527 70008.28 10595.57 54306.62 36716.50 1368.44 695.79 10% 25 233 proposed

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PROJECTEDINCOME&EXPENDITUREFORTHEYEAR2018-19

31.3.2018 Budgeted(31.03.2019) Projected Actual Projected Actual

Deposits 63110.74 54306.62 61045.00 —

Advances 37135.42 36716.50 42107.00 —

net nPA% 0.00% 0.12% 0.00% —

Projected 2017-18 (2018-19) Projected Actual

A INCOME

Interest on Loan & Advances 4700.00 4277.00 4528.94

Interest & Income on Investments 1535.20 3111.00 1680.07

Commission,Brokerage&Others 870.00 230.00 1397.68

(TotalIncome=A) 7105.20 7618.00 7606.69

B ExPEnDITURE

Interest on Deposits & Borrowing 3100.00 3532.00 3033.62

Salaries & Allowances 1400.00 1600.00 1587.87

Directors Fees 18.00 17.00 17.85

Rent,Insurance,Lighting&Taxes 220.00 200.00 201.87

LawCharges 12.00 15.00 9.31

Postage, Telegram & Telephone 70.00 50.00 58.66

AuditFees(Statutory&Internal) 33.00 32.00 27.35

Depreciation 100.00 100.00 104.68

Stationery, Printing & Advertising 72.00 35.00 54.97

A.G.M.Expenses 10.00 7.00 7.26

OtherExp.&PremiumAmortised 800.00 320.00 825.50

Provisions & Write Off 300.00 800.00 714.13

IncomeTax 320.00 360.00 267.83

(TotalExpenses=B) 6455.00 7068.00 6910.90

Less:(TotalIncome=A) 7105.20 7618.00 7606.69

NetProft(A-B) 650.20 550.00 695.79

(Rs.inlacs)

53

Registered O�ce Harbour Crest, Mazagaon T. T., Mumbai 400 010 Board Lines : 2372 3753, 2372 9969, 2372 9970, 2372 9971, 2373 4202, 2373 4311 Fax : 2374 8589 l E-mail : [email protected] Website : www.kokanbank.net

Sr. Branch Name Address Customer Telephone No. IFS Code Timing & Email

1 Central O�ce 202, Battiwala Bldg, 10.30 am - Phone : 2372 4062 KKBK0KMCB02 Branch Dr. Mascarhanes Road, 1.00 pm 2375 0205 Mumbai 400 010. 2378 0723 1.45 pm - Email : 4.45 pm centralo�[email protected]

2 Mandvi Branch 129/131, Shari� Devji 10.30 am - Phone : 2345 1937 KKBK0KMCB03 Street, Chakala, 1.00 pm 2347 3707 Opp. Pattharwali Masjid, Mumbai 400 003. 1.45 pm - Email : 4.45 pm [email protected]

3 Mazagaon 1/2, Dawoodi Mansion, 10.00 am - Phone : 2371 4912 KKBK0KMCB04 Branch Reay CHS. Ltd, Barr. 1.00 pm 2373 1770 N. P. Road, 2377 5636 Mumbai 400 010. 1.45 pm - Email : 4.15 pm [email protected]

4 Govandi Branch Kokan Bank House, 9.00 am - Phone : 2555 8637 KKBK0KMCB06 Gajanan Colony, 1.00 pm 2555 0804 Govandi, Mumbai 400 043. 3.00 pm - Email : 5.00 pm [email protected]

5 Jogeshwari 7-8, Shakuntala 10.15 am - Phone : 2677 0048 KKBK0KMCB11 Branch Apartment, 1.00 pm 2677 0701 Ground Floor, S. V. Road, Jogeshwari (W) 1.45 pm - Email : Mumbai 400 102. 4.30 pm [email protected]

6 Kurla Branch 104/105, Sunny Co-op. 10.00 am - Phone : 2650 4441 KKBK0KMCB05 Housing Society, 1.00 pm Belgrami Naka, 156, L. B. S. Marg, 1.45 pm - Email : Kurla (West), 4.15 pm [email protected] Mumbai 400 070.

54

7 Kalyan Branch Kokan Bank House, 10.15 am - Phone : (0251) 2211242 KKBK0KMCB07 Dudh Naka, Kalyan, 1.00 pm 2209804, 2202000 Dist. �ane 421 301. 1.45 pm - Email : 4.30 pm [email protected]

8 Kausa Mumbra Alavi Apartment, 10.15 am - Phone : 2535 1875 KKBK0KMCB10 Branch Ground Floor, Plot 31/B, 1.00 pm 2549 1431 Old Mumbai Pune Road, Behind Hotel Sahil, 1.45 pm - Email : Kausa Mumbra, 4.30 pm kausamumbrab@ Dist. �ane 400 612. kokanbank.in

9 Mira Road 102, Saeeda Apts, 10.15 am - Phone : 2812 0497 KKBK0KMCB09 Branch ‘B’ Wing, 1st Floor, 1.00 pm 2813 1200 Near Breez Apt., 2812 6742 Naya Nagar, 1.45 pm - Mira Road (E), 4.30 pm Email : Dist. �ane 401 107. [email protected]

10 �ane Bape Tower, 1st Floor, 10.15 am - Phone : 2534 9329 KKBK0KMCB08 (Rabodi-II) Opp. Masjid–e–Noor, 1.00 pm 2538 2126 Branch IInd Rabodi, Dist. �ane 400 601. 1.45 pm - Email : 4.30 pm [email protected]

11 Nerul Shiv Parvati Co-op. Hsg. 9.00 am - Phone : 2771 7687 KKBK0KMCB15 Branch Society Ltd., Sector 21, 1.00 pm Plot No.106–110, Nerul (E), 1.45 pm - Email : Navi Mumbai 400 706. 3.15 pm [email protected]

12 Vashi Branch Rainbow Flat & Shop 10.00 am - Phone : 2789 7577 KKBK0KMCB12 Owners Association, 1.00 pm 2788 1047 F-7, B-1, Sector 10, 2788 1056 Vashi, 1.45 pm - Email : Navi Mumbai 400 703. 4.15 pm [email protected]

Sr. Branch Name Address Customer Tel. No. IFS Code

55

13 Mhasla Branch Ghansar Commercial 10.30 am - Phone : (2149) 233677 KKBK0KMCB54 Complex, Main Road, 1.00 pm Near S.T. Stand, Mhasla, At Post & Tal. Mhasla, 1.45 pm - Email : Dist. Raigad 402 105. 4.45 pm [email protected]

14 Dapoli Branch Shop No. 2, 10.30 am - Phone : (02358) 280492 KKBK0KMCB66 Dimtimkar Complex, 1.00 pm Behind Dapoli Fish Market, 1.45 pm - Email : Dapoli Mandangad Rd, 4.45 pm [email protected] Dapoli, Dist. Ratnagiri 415 712.

15 Khopoli Branch Mid Town Arcade, 10.30 am - Phone : (02192) 262111 KKBK0KMCB13 M. G. Road, Bazar Peth, 4.00 pm 268789 Khopoli, Tal. Khalapur, Email : Dist. Raigad 410 203. [email protected]

16 Murud Janjira House # 17/83, 10.30 am - Phone : (02144) 274 801 KKBK0KMCB52 Branch Sardar Patel Road, 1.00 pm Murud Janjira, Dist. Raigad 402 401. 1.45 pm - Email : 4.45 pm [email protected]

17 Nagothane 106, Bazar Peth 10.30 am - Phone : (02194) 222383 KKBK0KMCB51 Branch Nagothane, Tal. Roha, 1.00 pm Dist. Raigad 402 106 1.45 pm - Email : 4.45 pm [email protected]

18 Panvel Branch Gala # 143, 9.30 am - Phone : 2745 8881 KKBK0KMCB14 Building # 1&2, 1.00 pm Panvel Nagar Parishad Shop-ping Centre, 1.45 pm - Email : Near Panvel Tehsildar 3.45 pm [email protected] O�ce, Panvel, Dist. Raigad.


56


19 Shriwardhan “Sahil” Mogal Mohalla, 10.30 am - Phone : (02147) 222105 KKBK0KMCB53 Branch Shriwardhan, 1.00 pm Dist. Raigad 416 702. 1.45 pm - Email : 4.45 pm [email protected]

20 Chiplun Branch 1st Floor, 10.30 am - Phone : (02355) 260742 KKBK0KMCB62 Mahalaxmi Building, 1.00 pm 261266 Mandvekar Complex, Bazar Peth, Chiplun, 1.45 pm - Email : Dist. Ratnagiri 415 605 4.45 pm [email protected]

21 Khed Branch M/H, 96/18, 10.30 am - Phone : (02356) 263313 KKBK0KMCB63 Mahadik Mohalla, 1.00 pm 264361, 263423 Pawaskar Naka, Khed, Dist. Ratnagiri 415 709 1.45 pm - Email : 4.45 pm [email protected]

22 Rajapur Branch Chogule Building, 10.00 am - Phone : (02353) 222239 KKBK0KMCB65 Shop No. 2, Bazar Peth, 1.00 pm Opp. Rajapur Nagar Parishad, Rajapur, 1.45 pm - Email : Dist. Ratnagiri 416 702 4.15 pm [email protected]

23 Ratnagiri Branch Silver Plaza, ‘A’ Wing, 10.30 am - Phone : (02352) 222540 KKBK0KMCB61 Ground Floor, 1.00 pm 222053, 226278 Dhanji Naka, Ratnagiri 415 612. 1.45 pm - Email : 4.45 pm [email protected]

24 Sangmeshwar 35/B, Shradha Niwas, 10.00 am - Phone : (02354) 273731 KKBK0KMCB64 Branch Bazar Peth, 1.00 pm Sangmeshwar, Dist. Ratnagiri 415 611 1.45 pm - Email : 4.15 pm [email protected]

25 Panjim (Goa) 1st Floor, 10.00 am - Phone : (0832) 2230880 KKBK0KMCB71 Branch El-Dorado Plaza, 1.00 pm Helidoro Salgado Road, Panjim (Goa) 1.45 pm - Email : 4.15 pm [email protected]

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