Draft of APPLICATION FORM FOR OPENING A NEW PLACE OF BUSINESSBY A CO-OPERATIVE BANK
The Banking Regulation Act, 1949
FORM V
(See rule 7)
(Section 23)
Form of application for permission to open a new place of business or change the location (otherwise than within the same city, town or village) of an existing place of business under section 23 of the Act
Address ……………………
Date ………………………..
Agricultural Credit Department,
Reserve Bank of India.
Dear Sir,
We hereby apply for permission to open a new place of businesss at…………………./ change the location of an existing place of business from…………………to ……………………in terms of section 23 of the Banking Regulation Act, 1949. We give below the necessary information in the form prescribed for the purpose.
Yours faithfully,
Signature …………………….
Designation
1 . Name of the co-operative bank
2.Place of location of the registered office of the co-operative bank and of its head office
3.Area of operation
4.Date of registration under the Co-operative Societies Act in force
5.Date of commencement of business
6.State the name of the higher financing agency to which the bank is affiliated
7. (i) If included in the Second Schedule to the Reserve Bank of India Act, 1934, the date of such inclusion
(ii) If a licence to carry on banking business has been issued by the Reserve Bank, the date of issue of the licence
8.Previous applications: Give particulars of applications, if any, previously made to the Reserve Bank in respect of the proposed place of business
9.Management Give the name of the officer-in-charge of the proposed office, his qualifications, experience and age and also particulars about the Local Advisory Board or Branch Committee (or local directors), if any
10. Existing Offices:
(a) Give the number of offices in India. In the case of offices making losses, also give details as in Table’A’
(b) In the case of offices which have been in existence for less than three years on the date of application, also give details as in Table’B’
11. Proposed Office: Give the location and the status of the proposed office
11. (a) Reasons for the proposed office:
State detailed reasons for the proposed office and give statistical and other data, as under, which may have been collected for the proposed office:
(i)The population of the area of operation of the proposed office
(ii)What are the types of clients whom the bank expects to cater?
(iii)The volume and value of agricultural, mineral and industrial production, and imports and exports of the area of operation of the proposed office as under:
| Commodity | Production | Imports | Exports | |||
| Volume 2 | Value 3 | Volume 4 | Value 5 | Volume 6 | Value 7 | |
(iv)If there are any schemes for agricultural, mineral or industrial development give details of the same and their probable effects on the volume and value of the present production, imports and exports
(v)Is there any special scheme to finance artisans, self-employed persons and small industrial units?
(vi)If the existing banking facilities are considered inadequate, give reasons
(vii)Prospects: Give as under an estimate of the minimum business which the bank expects to attract at the proposed office within 12 months:
I.Deposits……………..Amount in thousands…………Rates proposed to be
of rupees allowed on various
types of deposits
II. Advances…………. Amount in thousands…………Rates proposed to be
of rupees charged on various
types of advances.
(viii)Give details regarding Government subsidy, if any, for meeting the managerial cost of the proposed office or for branches running at a loss
12.Change of location of an existing office: Give the exact location of the office which is proposed to be closed and of the
place to which it is proposed to shift it, giving reasons for shifting and particulars of the new location as in No. 11 (a),
13.System of supervision and control over the proposed office: Give a brief description of the system of supervision and control which will be exercised over the proposed office and the authority of the officials at the proposed office regarding advances (including bills purchased and discounted)
14.Expenditure: State the amount already spent or proposed to be spent on staff, premises, furniture, stationery, advertising, etc., in connection with the proposed office. Also state the minimum income which the co-operative bank expects to earn at the proposed office in 12 months
15.Forward a copy of the latest balance sheet together with a profit and loss account statement of the bank
16.Other particulars: Any additional facts which the co-operative bank may wish to adduce in support of its application
N. B. 1 .The words ‘office’ and ‘offices’ wherever they occur in this form include a place or places of business at which deposits are received, cheques cashed, moneys lent or any other form of business referred to in sub-section (1) of section 6 of the Act is transacted.
2.Nos. 11 and 11 (a).-To be replied to if the application is for opening a new off ice.
3.No. 12.-To be replied to if the application is for changing the location of an existing place of business.
4.If a co-operative bank is unable or unwilling to supply full details in respect of any of the items, reasons for the omission may be given.
5.If an application has been submitted to the Reserve Bank in the past, information under items 2, 3, 4, 5, 6, 7, 9, 109 13, 14 and 16 need not be supplied unless there is any change since the last application.
6.The information asked for in items 9, 11, 11 (a), 12 and 14 is to be given separately for each office where the application relates to the opening of or changing the location of more than one office.
7.In the case of change in the location of any “administrative office”, where no banking business is transacted or proposed to be transacted (such as “Registered Office, Central Office or Head Office”) only an application in the form of a letter need be submitted, indicating the reasons for the change.
TABLE`A`
Name of the Co-operative Bank ………………………………………………………………….
Number of Existing Officers making Losses
Name Description, i.e., Date of Amount of loss DEPOSITS ADVANCES Remarks
of place whether branch, opening during the precee _______________________
sub-off ice, pay- ding year As on the date of the last balance
office, sub-pay sheet
office, etc.
______________________________________________________________________________________
1. 2 3 4 5 6 7
______________________________________________________________________________________
TABLE’B’
Particulars regarding offices which have been in existence for less than three years on the date of application As on the latest date with reference to which the particulars are available.
(Rounded off to the nearest thousand)
_______________________________________________________________________________________
Name Description i.e., Date of DEPOSITS ADVANCES
of place whether branch, opening ———————————— ———————————————Remarks sub-office, pay- Current Savings Fixed Others Total Total Of which Of which
office, sub-pay- overdue bad or
off ice, etc. doubtful
_______________________________________________________________________________________
1 2 3 4 5 6 7 8 9 10 11 12
_______________________________________________________________________________________
_______________________________________________________________________________________
N.B.-If, at any of the offices shown in Table B, a co-operative bank has failed to realise, within one year, the expected business as stated in the relative application, the reason therefor should be given in the remarks column of that Table.
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