computerization of the bank's business already completed and further initiatives, including implementation of CBS, (ii) NRE/NRO business being started shortly, (iii) undertaking pension business as sub-agent of sponsor bank, (iv) augmenting non farm sector advances especially MSME
in collaboration with German Financial Corporation, (v) branch expansion -opening of 5 new branches, (vi) WomenDevelopmental Cell for empowering rural women, (vii) social banking, (viii) solar energy project, (ix) debt swap scheme for freeing the families from the clutches of money lenders, (x) financial inclusion for rural empowerment - 835 villages including one district fully covered and (xi) Promotion and revitalization of farmers clubs. This year's motto of the bank is 'Maximization of Profit through Rural Empowerment and Technology Upgradation' and in order to translate the spirit of the motto into reality, the bank has proposed to pursue the following prime corporate objectives and business strategies to achieve the same.
OBJECTIVES & STRATEGIES
Garg said that corporate objectives are to increase gross profit by 50'K" bring down gross NPA to less than 2.5% and NPA to less than 1 %, 2291' growth in deposits (Rs 2,330 cr), 25U/c, growth in advances (Rs 1,474 cr), to attain per branch productivity of Rs 13.63 cr, to attain per staff productivity off Rs 3.40 cr, implementation of CBS in 80 urban, semi urban and other centers, all branches to be a profit making unit, substantial increase in non interest income, recovery of at least Rs ] cr in written off accounts, increase the clientele base to two million, opening of 5 new branches - 3 semi-urban and 2 rural, increasing share of low cost deposits to 58% and achieve cross sell ratio of 2.
l3RG l3 has multiple strategies to achieve its corporate objectives.
The bank plans to maximize its profits by low cost deposit mobilization, diversify loan portfolio with high yielding advances, maintaining asset quality with no slippages, reduction in NPA level at least by 30% through cash recovery and up gradation, at least 20'}(, cash recovery in written off accounts, doubling of non interest income, inter alia, by canvassing non fund business such as bank guarantee and sale of third party products, increasing staff
LOOK IT SHOWS 105 KG-So LAST WEEK IT S~WED 100·
WHICH CAN MEAN ONL'( ONE 1H1NG-.
productivity, bring down the controllable expenses through cost discipline, preventing revenue leakages. Another objective is rural empowerment which will be done through programs for financial inclusion, financial literacy, micro finance,
women development cell and formation of farmers club. As regards technology, CBS will be implemented in the first phase 80 branches in urban and semiurban areas, covering 51% of business of the bank.
GROWTH POTENTIAL OF RAJASTHAN
The pace of financial inclusion has proved to be a good tool for banking extension in the state. BRGB has covered 835 villages under 100% financial inclusion with coverage of whole district of Dungarpur under 'Dungarpur Project' in collaboration with its sponsoring bank, Bank of Baroda. BRGB has associated with its sponsor bank as 40% partner in its endeavor towards 100% financial inclusion and Total Integrated Rural Development of Dungarpur, a tribal district in its area of operation. The 100% financial inclusion has already been achieved by coverage of 250 Villages. The bank has provided financial assistance of Rs 486.20 lacs to 2287 families for dairy, spices cultivation, vegetable production and to rural artisan besides forming 51 Farmers Club and 731 SHGs, Credit Linkage of 442 SHGs and issuing] 951 KCCs.
POTENTIAL SECTORS
Garg added that in terms of potential sectors in the state for banking, there is ample scope in minor irrigation, land development, water management, soil conservation, farm mechanization, horticulture, forestry, waste land development, bio-fuel crops, rural non farm sectors - agro processing, agri exports, contract farming which can be explored for augmenting credit dispensation. Besides there is vast potentials in marble, cement, mica, limestone, mineral crushing, cotton, textile industry which can be explored to add to the economy of Rajasthan state, added Garg.
in collaboration with German Financial Corporation, (v) branch expansion -opening of 5 new branches, (vi) WomenDevelopmental Cell for empowering rural women, (vii) social banking, (viii) solar energy project, (ix) debt swap scheme for freeing the families from the clutches of money lenders, (x) financial inclusion for rural empowerment - 835 villages including one district fully covered and (xi) Promotion and revitalization of farmers clubs. This year's motto of the bank is 'Maximization of Profit through Rural Empowerment and Technology Upgradation' and in order to translate the spirit of the motto into reality, the bank has proposed to pursue the following prime corporate objectives and business strategies to achieve the same.
OBJECTIVES & STRATEGIES
Garg said that corporate objectives are to increase gross profit by 50'K" bring down gross NPA to less than 2.5% and NPA to less than 1 %, 2291' growth in deposits (Rs 2,330 cr), 25U/c, growth in advances (Rs 1,474 cr), to attain per branch productivity of Rs 13.63 cr, to attain per staff productivity off Rs 3.40 cr, implementation of CBS in 80 urban, semi urban and other centers, all branches to be a profit making unit, substantial increase in non interest income, recovery of at least Rs ] cr in written off accounts, increase the clientele base to two million, opening of 5 new branches - 3 semi-urban and 2 rural, increasing share of low cost deposits to 58% and achieve cross sell ratio of 2.
l3RG l3 has multiple strategies to achieve its corporate objectives.
The bank plans to maximize its profits by low cost deposit mobilization, diversify loan portfolio with high yielding advances, maintaining asset quality with no slippages, reduction in NPA level at least by 30% through cash recovery and up gradation, at least 20'}(, cash recovery in written off accounts, doubling of non interest income, inter alia, by canvassing non fund business such as bank guarantee and sale of third party products, increasing staff
LOOK IT SHOWS 105 KG-So LAST WEEK IT S~WED 100·
WHICH CAN MEAN ONL'( ONE 1H1NG-.
productivity, bring down the controllable expenses through cost discipline, preventing revenue leakages. Another objective is rural empowerment which will be done through programs for financial inclusion, financial literacy, micro finance,
women development cell and formation of farmers club. As regards technology, CBS will be implemented in the first phase 80 branches in urban and semiurban areas, covering 51% of business of the bank.
GROWTH POTENTIAL OF RAJASTHAN
The pace of financial inclusion has proved to be a good tool for banking extension in the state. BRGB has covered 835 villages under 100% financial inclusion with coverage of whole district of Dungarpur under 'Dungarpur Project' in collaboration with its sponsoring bank, Bank of Baroda. BRGB has associated with its sponsor bank as 40% partner in its endeavor towards 100% financial inclusion and Total Integrated Rural Development of Dungarpur, a tribal district in its area of operation. The 100% financial inclusion has already been achieved by coverage of 250 Villages. The bank has provided financial assistance of Rs 486.20 lacs to 2287 families for dairy, spices cultivation, vegetable production and to rural artisan besides forming 51 Farmers Club and 731 SHGs, Credit Linkage of 442 SHGs and issuing] 951 KCCs.
POTENTIAL SECTORS
Garg added that in terms of potential sectors in the state for banking, there is ample scope in minor irrigation, land development, water management, soil conservation, farm mechanization, horticulture, forestry, waste land development, bio-fuel crops, rural non farm sectors - agro processing, agri exports, contract farming which can be explored for augmenting credit dispensation. Besides there is vast potentials in marble, cement, mica, limestone, mineral crushing, cotton, textile industry which can be explored to add to the economy of Rajasthan state, added Garg.
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