RNCOS Research: (http://www.marketsmonitor.com/category/FM005.html) The Indian co-operative banks have now been imposed with a 33 percent income tax.
June 15, 2006 (Press Release) --
RNCOS Research: (http://www.marketsmonitor.com/category/FM005.html) As the finance minister of India imposes a direct tax on co-operative banks at a rate of 33% of their incomes, the banks are set to declare an opposition. For, the Co-operative Banks Association is convinced that co-operative banks should not be treated with other banks in the same way in the issue of tax imposition.
The Agricultural Credit Co-operative Societies Act in 1904 ignited the beginning of the Indian co-operative banks. These banks were the major suppliers of services in the rural areas. There, the co-operative banks primarily finance agricultural activities including farming, livestock, milk and milk products, pottery, and personal finance. It also covers small-scale industries and self-employment activities. The urban co-operative banks provide finance in areas of industries, self-employment, small-scale sector, home finance, personal finance etc.
According to the Reserve Bank of India, the apex bank in the country, the deposits in co-operative banks increased by only a few percentages while on the other hand the loan advances and investments dropped by 2-3 % respectively during the financial year 2005-06.
RNCOS has recently published a report namely “Indian Banking Sector Analysis (2006-2007)” in which, the market research organization investigates and describes the co-operative banking structure in India, which comprises the urban co-operative and rural co-operative banks. The report projects that India has 1,875 urban co-operative banks and more than 1,06,921 rural co-operative institutions. At March-end 2005, the total urban co-operative banks (UCB) included 80 salary earners’ banks and 120 ‘Mahila’ banks. And the scheduled urban co-operative banks were 55 during the same period.
On the basis of deposits in these urban co-operative banks, RNCOS makes the following segmentation:
· 40% of UCBs have less than Rs.10 crore as deposits.
· 25% have deposits in the range of Rs.10-25 crore, and
· Only 16% have deposits over Rs.25-50 crore.
The market research report has conducted an extensive research to provide an objective analysis on the growing Indian banking sector, their product and services quality in the country. There is also a detailed market sizing, a three-year forecast of the banking industry to give a picture of the future scenario till 2010.
About RNCOS:
RNCOS, incorporated in 2002, provides Market Research Reports via MarketsMonitor for your business needs and aims to put an end to your information pursuit. Our expertise in gathering global business information for industry research, corporate training, growth consulting, and business consulting, brings reputed companies and firms to us for business enhancement solutions. We can be your one-stop-shop for Industry research information and niche market analysis.
To purchase your copy: http://www.marketsmonitor.com/category/FM005.html
For more information about the report please visit www.marketsmonitor.com
The Agricultural Credit Co-operative Societies Act in 1904 ignited the beginning of the Indian co-operative banks. These banks were the major suppliers of services in the rural areas. There, the co-operative banks primarily finance agricultural activities including farming, livestock, milk and milk products, pottery, and personal finance. It also covers small-scale industries and self-employment activities. The urban co-operative banks provide finance in areas of industries, self-employment, small-scale sector, home finance, personal finance etc.
According to the Reserve Bank of India, the apex bank in the country, the deposits in co-operative banks increased by only a few percentages while on the other hand the loan advances and investments dropped by 2-3 % respectively during the financial year 2005-06.
RNCOS has recently published a report namely “Indian Banking Sector Analysis (2006-2007)” in which, the market research organization investigates and describes the co-operative banking structure in India, which comprises the urban co-operative and rural co-operative banks. The report projects that India has 1,875 urban co-operative banks and more than 1,06,921 rural co-operative institutions. At March-end 2005, the total urban co-operative banks (UCB) included 80 salary earners’ banks and 120 ‘Mahila’ banks. And the scheduled urban co-operative banks were 55 during the same period.
On the basis of deposits in these urban co-operative banks, RNCOS makes the following segmentation:
· 40% of UCBs have less than Rs.10 crore as deposits.
· 25% have deposits in the range of Rs.10-25 crore, and
· Only 16% have deposits over Rs.25-50 crore.
The market research report has conducted an extensive research to provide an objective analysis on the growing Indian banking sector, their product and services quality in the country. There is also a detailed market sizing, a three-year forecast of the banking industry to give a picture of the future scenario till 2010.
About RNCOS:
RNCOS, incorporated in 2002, provides Market Research Reports via MarketsMonitor for your business needs and aims to put an end to your information pursuit. Our expertise in gathering global business information for industry research, corporate training, growth consulting, and business consulting, brings reputed companies and firms to us for business enhancement solutions. We can be your one-stop-shop for Industry research information and niche market analysis.
To purchase your copy: http://www.marketsmonitor.com/category/FM005.html
For more information about the report please visit www.marketsmonitor.com
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