The Tamilnadu Industrial Cooperative Bank Ltd., popularly known as “TAICO Bank” is the first of its kind in the Cooperative Sector in the Country for catering the needs of Industrial Cooperatives. A unique Cooperative Bank with having state wide jurisdiction, to develop the Industrial Cooperative Societies in the State of Tamilnadu.
In the year 1958, the "Working group on Industrial Co-operatives" was set up by the Government of India and recommended for establishment of a separate Bank at state level exclusively to cater the financial needs of the Industrial Co-operative societies. Madras State Industrial Cooperative Bank was organized and registered on 13.9.1961 under Tamilnadu Cooperative Societies Act which was the ‘Brain Child’ of Thiru R. Venkatraman, the then Industries Minister of Tamilnadu and latter the President of India
Commenced functioning since 1962 and catering the financial requirements of the Industrial Cooperative Sector. The Bank functions under the Administrative control of Department of Industries and Commerce. The Banks head office is functioning in its own apartment (Ground Floor) measuring 5,000 sq.ft. in the C.M.D.A. Complex, Egmore, Chennai.
Objective
Top
The Objective of the Tamilnadu Industrial Cooperative Bank Ltd., is to provide financial assistance to the Industrial Cooperatives. Societies working under the administrative control of Industries commissioner & Director of Industries and Commerce and other Type of Cooperative Societies other than Indl. Coops. with the prior permission of the Industries commissioner & Director of Industries and Commerce.
Services
-
Accepting Deposits from Public, From Govt., Institutions & Temples
-
Loans and Advances to Industrial Coop. Societies
-
Loans and Advances to Public
-
Locker Facility
-
Drafts, Bank Guarantee for Institutions.
-
Providing Insurance Services
-
Consultancy Service
For further details Click here
Schemes
Top
Government Sponsored Schemes |
Schemes |
Beneficiaries |
Loan Amount Outstanding
Rs in Lakhs |
Purpose |
THADCO (31.01.2009) |
Financial assistance to
Adhi Dravida Auto drivers
With THADCO subsidy |
186 |
143.13 |
Purchase of
Autorickshaws |
TAMCO |
Financial assistance to
Minority Community Auto
Drivers with TAMCO
assistance |
674 |
271.01 |
- do - |
TABCEDCO (31.01.2009) |
Financial assistance to
Backward Class small
Entrepreneurs with
TABCEDCO Assistance |
148 |
129.26 |
- - |
|
New schemes
|
Extending Financial Assistance up to Rs. 25 lakhs for SSI Units. |
|
Working Capital Loan up to Rs. 5 Lakhs for Entrepreneurs who owns processing units. |
|
Urban housing Finance up to Rs. 25 Lakhs for purchase of new flats / house in the corporation areas. |
|
Micro Credit facilities to women under co-operative fold |
|
Formulating loan schemes for entrepreneurs of Most Backward and Backward communities from |
|
Economic assistance available for TABCEDCO. |
|
Rural Employment Generation Programme of Khadi and village Industries (REGP). |
|
For financing Micro and college units under Smart plus upto Rs 2 or h |
Deposits
Top
The TAICO Bank accepts the following type of deposits from the Public, Industrial Cooperative Societies, Government Departments, Corporations, reputed educational institutions etc.
|
Savings Deposit |
|
Short Term Deposit |
|
Current Deposit |
|
Fixed Deposit |
|
Recurring Deposit |
|
Cash Certificate |
Rate of Interest on Deposits
Period No of Days |
Rate of Interest |
Period No of Days |
Rate of Interest % |
15 to 29 |
5.75% |
181 to 364 |
8.75% |
30 to 45 |
6.25% |
1 yr to 5 yrs |
10.25% |
46 to 90 |
6.75% |
Senior Citizens |
1% more |
91 to 180 |
7.75% |
Savings A/c |
3.50% |
* Senior Citizen
Lending Operations for Industrial Co-operatives
Nature of Assistance |
Rate of Interest |
Term Loan |
11.00% |
Cash Credit |
11.00% |
Bills Discounting |
11.00% |
Bank Guarantee |
1% Service Charges will be collected |
Lending Loans and Advances to Public
Top
The TAICO Bank provides the following types of financial assistance to Industrial Cooperatives functioning under the administrative control of the Industries Commissioner and Directorate of Industries and Commerce , Chennai – 5.
|
Term Loan |
|
Bills Discounting |
|
Cash Credit |
|
Bank Guarantee |
It also extends the following loans and advances to the public as well as to the Government staff.
|
Jewel Loan |
|
Regular Overdraft |
|
Tiny/SSI Loan |
|
House Mortgage Loan |
|
Loan against pledge of SC/KVP |
|
House Construction Loan |
|
Personal Loan |
|
|
Lending Operations for Public
Type of Loan |
Rate of Interest |
SSI/
Micro &
Tiny |
Term Loan |
|
Up to Rs.25,000/- |
11.00% |
Above Rs.25,000/- |
12.00% |
Cash Credit |
|
Up to Rs.25,000/- |
11.00% |
Above Rs.25,000/- |
12.00% |
Jewel Loan |
12.00% |
NSC Loan |
11.00% |
House Mortgage Loan |
14.00% |
House Building Advance |
14.00% |
Overdraft |
15.00% |
Personal Loan |
15.00% |
For further details,
Tamilnadu Industrial Co-op. Bank Ltd. (Head Office)
No:36, South Canal Bank Road,
Raja Annamalaipuram,
Mandavelipakkam,
Chennai – 600 028.
Tel: 91-44- 24618626 / 24951509
Fax: 91-44- 24618623/
Email: taico@dataone.in / taicobank@ymail.com |
Branch Address of TAICO Bank
Top
Source
http://taicobank.com |
