Released on = June 15, 2006, 4:16 am

Press Release Author = RNCOS

Industry = International Trade

Press Release Summary = RNCOS Research:
(http://www.marketsmonitor.com/category/FM005.html) The Indian co-operative banks
have now been imposed with a 33 percent income tax. The co-operative banks
association strongly opposes this in light with the numerous financial services the
banks provide to rural and urban masses.

Press Release Body = 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:
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your business needs and aims to put an end to your information pursuit. Our
expertise in gathering global business information for industry research, corporate
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Industry research information and niche market analysis.

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