Beating the blues of demonetization and GST pangs the urban cooperative banking sector has done well by netting in an increased profit of Rs 2000 crore in the financial year 2016-17, according to the apex regulator Reserve Bank of India.
According to the RBI data the net profit of urban cooperative banks has risen to Rs 3,900 crore in 2016-17, as against Rs. 3,700 crore in 2015-16. The loans and advances of UCBs stood at Rs 2.61 lakh crore , gross non-performing assets (NPAs) reached Rs.18,600 crore during the period.
The Reserve Bank of India has released the 4th volume of the annual publication titled ‘Primary (Urban) Co-operative Banks’ Outlook 2016-17’. The publication has been brought out by the ‘Department of Co-operative Bank Supervision’ of the RBI.
The publication covers the financial accounts of Scheduled and Non-Scheduled Primary (Urban) Co-operative Banks
In addition to that, the publication provides bank-wise information of Scheduled Primary (Urban) Co-operative Banks on select financial ratios on Capital Adequacy, Profitability, and Employee Productivity.
The capital of UCBs rose to Rs 12,200 crore in 2016-17 from Rs. 11,000 crore in 2015-16. While reserves went up to Rs.33,500 crore during the period, deposits increased to Rs.4.43 lakh crore.
India has 95,946 credit cooperatives. This includes 1,562 UCBs and 94,384 rural cooperatives.
Of the 370 district central co-operative banks in the country, 319 made total profit of Rs 1,700 crore and 51 made losses of Rs. 600 crore during 2015-16.
Of the 93,367 primary agricultural credit societies, 45,241 made profits of Rs.4,100 crore and 36,695 made losses of Rs.6,500 crore.
The loans and advances of PACS stood at Rs.1.80 lakh crore during 2015-16, and the total overdue of NPAs were Rs.29,900 crore.