TNSC BANK
The Tamil Nadu State Apex Co-operative Bank or TNSC Bank
is an Indian cooperative banking company headquartered in
Chennai. It was incorporated in 1905 as an urban cooperative
bank. As of 2015, TNSC Bank has 46 branches in Chennai.
Founded: 23 November 1905
Key people: R Elangovan (chairman)
R.G. Sakthisaravanan (managing director)
Headquarters: Chennai, Tamil Nadu, India
Number of
Employees: 558 (2012)
HISTORY OF TNSC BANK
TNSC Bank was formed the same year that the cooperative
movement of Tamil Nadu began. The bank has been serving the
economic development of the people of Tamil Nadu for over a
century. As far as the Indian cooperative movement is
concerned, the bank has commenced its business the year
following the formation of the coop— a movement in India. The
Tamil Nadu State Apex Co-operative Bank Ltd. started its
business in November 1905 as an Urban Coop. Bank. It was
subsequently changed into a District Central Coop. Bank during
July 1920.
During 1930 and 1931, the bank embarked on a scheme for
rectification and consolidation of Primary Societies through the
Central Coop. During the first 25 years of working, TNSC had
lent to primary societies and Central Coop. The Government of
Tamil Nadu became a shareholder of the bank on the 27th of
March in 1957 and was represented on the Board of
Management of the Bank, according to the recommendations
of the All India Rural Credit Survey Committee of the Reserve
Bank of India. Consequent to the renaming of the State to Tamil
Nadu in the year 1970, the name of this Bank was also changed
to “The Tamil Nadu State Co-operative Bank Ltd.”
Presently, the NCDC, TNSC Bank is open and functioning as a
training institute in a rental building in Adyar and has been
since 1989.
EQUITY PARTICIPATION
The Government of Tamil Nadu had invested a sum of Rs.20.26
crore in the ordinary share capital of the Tamil Nadu State Apex
Cooperative Bank Ltd., Chennai. The dividend over and above
3% on this investment would be added to the Agricultural
Credit Stabilisation (ACS) Fund every year, and thereby, this
Fund is being strengthened continuously.
SERVICES
TNSC Bank offers savings accounts, current accounts, deposits
including fixed, recurrent, cash certificate, loans for individuals
(including home loans, jewel loans, housing loans, computer
loans, and educational loans), corporate banking services and
rural banking services. It also offers electronic services including
net banking and epayment of bills.
AWARDS
The National Federation of State Co-operative Banks Limited
has been selecting and awarding prizes for overall best
performance State Coop. Banks every year. TNSC Bank won the
"Overall Best Performance" award six times between 1985 and
2018, most recently being 2012–2013. It has also won the "All
India Mutual Arrangement Scheme" eight times, most recently
being 2011–2012. It won the "Excellent Facilitation of
Technology Adoption by the Cooperative Banking System in
Tamil Nadu" award in 2017 from NABARD
TNSC ATM
CHAIRMAN OF THE BANK
1905-
1. Dewan Bahadur Krishnasamy Row, C.I.E. 1921
1921-
2. Dr.S. Swaminathan 1926
1926-
3. V. Ramadas Pantulu 1941
4. Rao Sahib K. Sitaramaiya 1941
1941-
5. Rao Bahadur T.A. Ramalinga Chettiar 1952
1952-
6. Bikkani Venkataratnam 1953
1954-
7. Medai Dalavoi Kumaraswamy Mudaliar 1957
1958-
8. R. Kanakasabai 1973
C. Krishnamurthy (Vice-Chairman-Officiated 1973-
9. as Chairman) 1974
1974-
10. R. Kanakasabai 1976
1999-
11. C.T. Dhandapani 2001
2013-
12. Kavitha G. Rajendran 2014
2014-
13. R. Elangovan 2018
14. R. Elangovan 2019
FINANCIAL HIGHLIGHTS OF TNSC BANK
PARTICULARS 31.3.2019 31.3.2020
Paid-Up Share Capital 328.49 346.78
Statutory Reserves 267.68 267.68
Other Reserves 340.43 351.97
Deposits 8384.60 11081.93
Borrowings 3222.90 4199.40
Investments 2987.61 2970.87
Advances 8062.64 10526.67
Working Funds 14038.44 17965.68
Net Profit 81.87 82.15
SHARE CAPTIAL
a) Authorised Share Capital Rs.100.00 crores
b) Share capital held by DCCBs Rs.53.22 crores
c) By State Government Rs. 0.26 crores
Total Rs.53.48 crores
RESERVES
The Bank has total reserves of Rs.467.58 crores as on
31.3.2006. The statutory reserve constitutes Rs151.32 crores.
The growth of reserves is given in the following table:
As on Amount (Rs. in crores)
30.06.1980 17.58
30.06.1990 49.90
31.03.1995 102.26
31.03.2005 439.14
31.03.2006 467.58
DEPOSITS
On deposit mobilisation front, the Bank has achieved much.The
Apex Bank has mobilised a sum of Rs.3126.78 crores as on
31.03.2006. The growth of deposits is shown in the following
table:
As on Amount (Rs. in crores)
30.06.1980 130.30
30.06.1990 387.24
31.03.1995 760.29
31.03.2005 3062.58
31.03.2006 3126.78
The Bank has been extending the facility of NRO/NRE accounts
at 7 of its branches.
BORROWINGS
The Apex Bank is getting refinance assistance by way of
borrowings from National Bank for Agriculture and Rural
Development (NABARD) for extending credit facilities to the
farmers for short-term agricultural operations, and medium-
term loans through DCCBs, weavers finance through the
DCCBs / Co-optex, from Small Industries Development Bank of
India (SIDBI) for extending credit facilities for small scale
industries, National Coop. Development Corporation (NCDC)
and from National Handicapped Finance Development
Corporation (NHFDC) for financing for the development of
physically challenged persons through DCCBs. The total
borrowings of the Bank as on 31.3.2006 was Rs.1206.76 crores.
INVESTMENTS
The Bank has to make investments in Government approved
securities for the statutory liquidity ratio (SLR) purposes. The
Bank has been investing its funds in the Central Government /
State Government’s approved securities. As on 31.3.2006, the
Bank has total investments of Rs.1105.36 crores. The Bank has
a separate Treasury Section to deal with treasury operations on
its behalf as well as its affiliates, viz. DCCBs and Urban Co-op.
Banks.
PERSONAL LOAN
Purpose Any domestic / emergency purpose
Salaried / Businessmen / Professionals,
Eligible persons etc.
Minimum CIBIL score : 720
Carry home salary : 25%
(minimum)
Eligibility One Guarantor
Rs.1 lakh or 12 months gross salary,
Quantum whichever is less
Rate of Interest 11% p.a.
Loan processing 1% of loan amount, subject to minimum
charges of Rs.100
Repayment period 24 months (maximum)
HOME NEEDS LOAN
To purchase consumer durables like T.V., two-in-
Purpose ones, stereo / music system, CD player,
computers, printers, refrigerators, micro ovens
and other electronic goods.
Employees of State / Central Government, Quasi-
Government, Coop. Institutions, Financial
institutions, Teachers, Professors, Industrial
Eligible
establishments, etc., businessmen and
persons
professionals like Doctors, Lawyers, Chartered
Accountants, Consultants, Freelance
Photographers, Engineers, etc.
Maximum Rs.1,00,000 or 90% of the cost of the
Quantum articles or 12 times of the monthly gross salary,
whichever is less.
Rate of
12% p.a. (subject to change from time to time).
Interest
Repayment
60 equated monthly instalments.
period
EDUCATIONAL LOAN:
To meet the expenses on tuition fees, examination
fees, hostel fees, including mess bill, cost of books
Purpose
and instruments / equipments, which are absolutely
necessary for the course and any other expenditure
incurred in connection with the studies of the student
through the respective Institution / College /
University.
MBBS / BDS / B.V.Sc., BPT / B.Pharm / BOT, B.Sc.,
(Agri.) / B.E. (Agri. Engg.), M.Sc., (Agri.) / B.Coop. /
Eligible
M.Coop., B.E., B.Tech., B.Arch., M.E., M.Tech.,
courses
MCA / B.Sc., (Computer Science), BBA / MBA /
BBM / MBM. etc.,
Any individual in employment with Government /
Quasi Government Organizations, Banks and other
establishments of repute / private / public sector
Eligible undertakings with adequate means to repay the
persons principal and interest of the loan shall be eligible to
apply for the loan, towards his sons / daughters /
wards to pursue the professional courses mentioned
above.
Rs.2,00,000 for study in India and Rs.3,00,000 for
Quantum study in abroad or 95% of the expenditure towards the
entire course of study, whichever is less.
Rate of
14% p.a. (subject to change from time to time).
Interest
Repayment
3 to 5 years.
period
EMI JEWEL LOAN:
Security Only own gold jewels should be pledged.
Loan Upto Rs.3,100 per gram
Quantum * Min. Rs. 25,000/- and Max. Rs. 2 lakh.
Rate of Interest Flat 5%
Repayment period 12 months
Processing charges 0.5% of loan amount
Preclosure charges Upto 6 months : Rs.500, After 6 months : Nil
BUSINESS JEWEL LOAN
Security Only own gold jewels should be pledged.
Loan Upto Rs.3,100 per gram
Quantum * Min. Rs. 1 lakh, Max. Rs. 10 lakh.
Rate of
Interest Flat 6%
Repayment
period 102 Equated Daily Instalments
Processing
charges 0.25% of loan amount, min. Rs.500
Preclosure Upto 50 instalments : Rs.1,000, Above 50
charges instalments :Nil
Top-up of
loan Allowed after payment of 33 daily instalments
Insurance Rs.100, at the time of closure of the loan
