By H R Alva

Mumbai, Nov 13: With deposits worth Rs 660 crore and a total turnover exceeding Rs 1000 crore, Model Co-operative Bank is today one of the top banking institutions, especially among Mangalurean Konkani Catholics spread over the globe. The number of branches is set to touch 21 by end of March 2016, and its root – the Mangalorean Catholic Co-operative Credit Society Ltd, is in its centenary year.

Though its roots are 100 years old, Model Co-op Bank is just 17 years young.

John D'Silva (founder-chairman)

Albert W D'Souza (chairman), William Sequeira (vice-chairman)

3rd Best Co-op Bank Award

The Brihan Mumbai Nagari Sahakari Banks Association Ltd, Mumbai at its 37th annual general meeting and awards function held on August 12, 2015, awarded Model Co-operative Bank Ltd the 3rd prize for Best Bank among co-op banks in the category of deposits in the range of Rs 300 crore to Rs 1,500 crore.

The award was presented by Association president Dattaram Chalke at a function held at Hotel Kohinoor Auditorium, Dadar West on August 12. Model Bank CEO and general manager William Louis D'Souza, additional chief general manager Herald M Serrao, senior managers Zenen D'Cruz and Hilary Mendonca received the award.

Corporate Office and Branches

The new administrative office is on the 5th floor of the Central Plaza Building. This corporate style office was inaugurated by Cardinal Oswald Gracias on April 26, 2015. At present, Model Bank has 12 fully computerized branches spread over the prominent localities of Mumbai and Thane district. These branches are at Andheri, Borivli, Fort, Ghatkoper, Kanjurmarg, Mahim, Malad, Mira Road, Mulund, Thane, Vasai and Vashi.

The Bank's Dahisar (W) branch (13th branch) was inaugurated on October 25, Andheri (W) - 14th branch on November 1, and CBD – Belapur - 15th branch on November 3.

The Bank has obtained licence from the Reserve Bank of India to start 6 new branches by the end of March 2016. These will be established in Palghar (W), Virar (W), Vasai (W), Bayander (W), Kalina Santacruz (E) and Dombivli (W). With these new branches the number of branches will be increased to 21.

Model Bank inching towards Scheduled Bank Status

The present board of directors has a desire to elevate the Bank as a Scheduled Bank. In this regard, chairman of the Bank Albert W D’Souza has this to say: "Model Bank has risen to the present position because of the hard work put in by the past and present office-bearers, directors and members of the staff with the fullest co-operation of the shareholders, deposit and account holders and creditors. The present limit of deposits by the Reserve Bank to raise any co-operative bank to the scheduled status is Rs 750 crore. We will achieve this target at the earliest so as to elevate our bank to Scheduled Bank status."

If the Bank attains Scheduled status, it can be expanded and branches can be opened in other states and more importantly in Mangaluru, Udupi, Bengaluru and other cities where Mangalurean Konkani Catholic population is concentrated, and thereby create a strong bank of Mangalurean Konkani Catholic community and provide employment opportunities to the community’s younger generation.

'From Society to Bank': Founder Chairman John D’Silva

"Mangalurean Catholics are very enterprising people. In Mangaluru, they had established a co-operative bank way back in 1912 by the name 'Mangalore Catholic Co-operative Bank Ltd'. Mangalureans who migrated to Mumbai in the early 20th century set up Clubs (Kudams) all over (then) Bombay, particularly at Fort, Dhobitalao, Byculla, Andheri etc, providing bachelor accommodation. In 1905, educated among them founded Kanara Catholic Association (KCA) as a registered body. In 1916, to inculcate the habit of thrift and credit, KCA registered a credit society by the name 'Mangalorean Catholic Co-operative Credit Society Ltd', and to look after their educational needs, registered an educational society by the name Mangalorean Catholic Educational Co-op Credit Society Ltd, (1919)," says Model Bank founder-chairman John D’Silva.

"In 1993, Mangalorean Catholic Co-op Credit Society had total funds of around Rs 1 lac. It was almost in dormant state without much activities. Mangalureans who were aware of my enthusiasm in co-operative banking, particularly Citizen Credit Co-op Bank Ltd, requested me to take leadership of the Society as a mark of respect to the memory of stalwarts who had founded it in 1916 and make it a bank for the benefit of our community.

"During the nineties, the Reserve Bank of India had revised the rules for registering new co-operative banks, particularly own capital. For the sake of my fellow Mangalureans and as a tribute to its founders, I accepted their request. At the general body meeting held in October 1993, the members unanimously elected me as its president with full charge of the Society. To make it easy to raise the required capital of Rs 60 lac, we opened almost ten branches all over Mumbai. In June 1998, the Reserve Bank of India and the registrar of co-operative societies gave the approval for the bank with change in name to 'Model Co-op Bank Ltd'. It is the second bank among the newly registered banks, which started functioning with branches of society all over Mumbai and converted them as bank’s branches," he adds.

John D’Silva was the president of the Society from 1993 to 1998 and on the establishment of the Bank as the founder chairman till 2003. Thereafter, Albert W D’Souza took over as chairman of the Bank and remains so till this date (from 12 years).

Services offered by Model Bank: Braches are in convenient localities with convenient timings. Some branches work in the morning and in the evening. Some function on Sundays too.

Model Bank provides the following services:

Core Banking Solutions: Core Banking Solution (CBS) is networking of branches, which enables customers to operate their accounts, and avail banking services from any branch of the Bank on CBS network, regardless of where he/she maintains his/her account. By opening account with the Bank, the customer is no more the customer of a branch, but becomes the Bank's customer.

Tax / MVAT payment
Reliance electricity bills can be paid in designated branches
Rupay ATM cum debit cards facilities for free of cost

NEFT / RTGS facility: Tie up services as corporate agents with Bajaj Allianz General Insurance Company Limited for non-life insurance business.

Tie up arrangement with Life Insurance Corporation of India for providing life insurance services to customers.

PAN card related and many more services.

Deposits and Advances: The Bank has savings, 'smart kid', fixed, recurring, current and other types of accounts. The Bank pays good interest for deposits. 10% interest is paid for 400 days' deposit, 0.5% more interest is available for senior citizens and Lakhpati / RD & FDP savings schemes for children’s future.

Various types of loans are available like business, term, home, vehicles, professionals, educational, personal, mortgage, loan against government securities/LIC/KVP/NSC, against fixed deposits, cash credit/overdraft.

Bank offers services at the doorstep of the customers who are unable to come to the branch due to old age or illness.

Factors contributing to the progress of Model Bank

The office-bearers and directors of Model Co-op Bank are prominent leaders in their respective fields like business or profession. They were unanimous selected to the board by shareholders. A few officials who had work experience in nationalized / private banks are in the service of Model Bank.

Model Bank has banking licence from the Reserve Bank. It has always obtained A grade in the audit by the RBI. Capital adequacy ratio maintained by the bank is 12% whereas the required is 9%. NPA (non performing assets) rate is 1.07% as on March 31, 2015. For the year 2014-15, profit before tax is Rs 10.42 crore and after tax profit is Rs 6.62 crore. The Bank has declared 12% dividend for shareholders.

Board of Directors:

Chairman: Albert W D’Souza, vice-chairman: William Sequeira

Directors: Prof A P D’Souza, Abraham Clement Lobo, Vincent Mathias, Lazarus Menezes, Sanjay Sinde, Paul Nazareth, Philip Pinto, Lawrence D’Souza, Ronald H Mendonca, George Castelino, Pius Vas, Thomas Lobo, Benedicta Rebello, Marita D’Mello

General manager and CEO: William L D'Souza

Executive: Harold M Serrao, additional general manager

For more details please contact:

Administrative Office:

501, Central Plaza
166 C S T Road
Kalina, Santacruz (East)
Mumbai 400 098.

Tel No: 26656076 / 77 / 78, 35321222, 35321333, 35324043.
Tele Fax: 26656079 Email: ho@modelbank.in , info@modelbank.in
Website: www.modelbank.in
Branches & Contact Numbers: Andheri - 28265010, Borivli - 28922967, Fort - 22660649,
Ghatkoper - 25010354, Kanjurmarg - 25779672, Malad - 28090181, Mira Road - 28122638, Mulund - 25914677, Vashi - 27669047, Mahim - 24455600, Vasai - 0250 3291322, Thane – 25341550, Dahisar (W) – 8422959623, Andheri (W) – 8422959624, CBD Belapur - 8422959625