CHAPTER VI
BANKING TRADE
AND COMMERCE
(A) Banking
and Finance
Agriculture and industry play a key role in the economic development of a region. The other infrastructural facilities such as capital accumulation, provision of finance, banking and cooperative institutions designed to extend credit and to provide other facilities also serve as vital factors. Banking and financial institutions facilitate the growth of production by mobilization and deployment of the resources to various productive sectors. On the other hand trade and commerce facilitate the distribution of output through various channels.
(a) History
of Indigenous Banking
The history of indigenous
banking of the area falling under the present Mansa District was not much
different from the erstwhile
1 Sharma, A.G. State in
Relation to Commercial Banking in the Developing Economy of
115
Thus the system of lending was abounded in malpractices, such as high rate of interest and defective accountancy. Once a borrower came into the clutches of the moneylender, he would live and die in debt leaving the debt to his next generation.
With the advent of British, the old banking system declined. The sahukars methods became outmoded and were by and large replaced by the modern system of banking. The need for borrowed money in the present Mansa District has been met from indigenous bankers (moneylenders), commercial banks and cooperative credit institutions.
Despite various laws, the moneylenders continued to by-pass the
provisions of these laws. They indulged in various malpractices. Most
transactions were either oral or against ornaments, promissory notes were
obtained for a higher amount than what actually advanced even duplicate
accounts were kept. All moneylenders did not obtain licenses by getting
themselves registered. They did not maintain regular accounts. As on
The number of cooperative credit
societies in the district as on
(b) General Credit Facilities
(i)
Indebtedness-Rural and Urban
Indebtedness (rural and urban) means the amount of loan, which the people owe to the various agencies and individuals. Considerable indebtedness prevails in the district in general and in rural areas in particular. The agriculturist is a man of small means, especially during crop failure he has to depend on credit. Rural indebtedness is the amount of loan borrowed by the ruralists. Such loans are mostly unproductive, as these are taken for incurring expenditure on performing ceremonies, for meeting consumption needs and for indulging in bad practices and not much of the amount is used for the improvement in agriculture, for the purchase of improved agricultural implements, better seeds, fertilizers, etc. Urban indebtedness implies the amount of loan taken by the urban people from various lending agencies, such as banks, insurance companies and private financial institutions, etc. But unlike the rural debt, the urban debt is highly productive because mostly the borrowers are either businessmen or traders or industrialists, who borrow either to start new ventures or to expand the existing ones. These debts thus result in increasing the income of the State and generate more employment.
Rate of Interest.- It is paid by the borrower to the lender. The rate of interest charged varies from place to place, from one lending agency to another and is related to the purpose for which the amount has been borrowed. It differs with the nature of the loan, the period involved, the risk involved, the nature of surety, etc.
The commercial banks in the
district charge rate of interest fixed by the Reserve Bank of
|
Serial No. |
Category of Loan |
Interest Rates (Per cent) |
|
1 |
Composite Integrated and Small Road Transport Operator Loan Scheme |
|
|
i) |
Upto Rs 25,000/- |
14.00 |
|
ii) |
From Rs 25,000/- to Rs 2 Lakhs |
15.00 |
|
iii) |
Above Rs 2.00 Lakhs |
16.50 |
|
2 |
Cash credit facility to businessmen, traders, contractors and self employed persons |
16.50 |
|
3 |
Vehicle loans under bank scheme |
16.50 |
|
4 |
Scheme for loans to students for professional courses |
14.00 |
|
5 |
Loan against National Saving Certificates/ Kisan Vikas Patras |
15.00 |
|
6 |
Medium term Loan for purchase of consumer durables |
16.00 |
|
7 |
Overdraft facility to the employees of the Bank/Cooperative
Department/Audit Department |
15.00 |
|
8 |
Loans to Cooperative Central Banks |
|
|
i) |
Working capital loans |
13.50 |
|
ii) |
Term loans |
13.50 |
|
9 |
Loans to other Apex Societies |
|
|
i) |
Cash Credit |
13.50 |
|
ii) |
Term loans |
15.50 |
(Source: Managing Director, Punjab
State Cooperative Bank Limited,
Indigenous moneylenders charge interest varying from 18 to 30 per cent or sometimes even more. The unregistered moneylenders advanced loans at still higher rate of interest.
With the advancement of literacy and the availability of adequate banking facilities the system of usury have become outdated. However, in the remote areas where people are still backward, the moneylenders take advantage of their ignorance and helplessness by charging high rate of interest.
(ii) Role of Private Moneylenders and Financiers
Moneylenders.- Though the institution of private money lending has lost its importance, yet it has not been completely eliminated. It is regarded as a necessary agency where the modern banking has not developed. The illiterate and conservative people, who have not been fully acquainted with the modern banking practices or have not brought themselves into the cooperative fold still go to the doors of the private moneylenders.
The moneylenders or the banians and the commission agents (arhtias) still dominate the rural sector of the district economy. The business of the moneylender is generally a family concern. His working capital is his own. He grants loans against all kinds of securities such as gold, jewellery, land, promissory notes, etc. He also lends against personal credit of the borrowers.
In the absence of any adequate protection to the debtor in the form of State regulation the moneylender indulged in a number of malpractices and caused hardships to the debtors. The Government had, therefore, to intervene to prevent moneylenders from indulging in malpractices. The various Acts passed by the government checked the activities of the moneylenders. The rise and growth of modern banking institution also affected their business adversely.
Moneylenders now operate under severe restrictions imposed by the Punjab Registration of Moneylenders Act, 1938. By this act, the moneylender is required to register himself with the concerned Sub Divisional Officer (civil) and obtain a licence for carrying on the business. He is also required to maintain regular account books.
(iii) Government and
Semi-Government Credit Agencies
In addition to sahukars or
moneylenders, a number of government and Semi-Government agencies have also
been established in the State to save the loanee from the clutches of
moneylenders and to provide finance in urban as well as rural areas on fair
terms and on reasonable rate of interest. These agencies include the Punjab
Financial Corporation, Punjab State Industrial Development Corporation. The
The Punjab Financial
Corporation was established in 1953 with the object of providing medium and
long term loans to the industrial concerns located in the State of
The Punjab State Industrial Development Corporation was incorporated in 1966 to act as a catalyst for the development of large and medium-scale industries in the State. Since then, it has been acting as prime mover in the state for promotion of industrial ventures and helps the entrepreneur to identify and investigate projects and to obtain letter of intent/ registration from the Government; provides financial support, both equity and term loan assistance; acts as an agent of Industrial Development Bank of India, Small Industries Development Bank of India and State Government for providing assistance to industry under various schemes, etc.
The Punjab Khadi and Village Industries Board established in 1955 is actively engaged in the economic uplift of the rural masses of the Punjab State, particularly the village industries and artisans belonging to Scheduled Castes, Backward Classes, weaker sections of the society and yellow card holders through the programme and scheme of Khadi and Village Industries Commission.
(iv) Commercial Banks
Although the banking was
practised in
There are 8 commercial banks operating in the district apart from regional rural banks, central cooperative banks and primary agricultural development banks. Banking facilities are available in all the towns and major villages in the district.
The State Bank of
The commercial banks alongwith
numbers of branches functioning in the Mansa district as on
|
Name of the Bank |
Number of Branches |
|
State Bank of |
14 |
|
Punjab National Bank |
9 |
|
State Bank of |
4 |
|
|
3 |
|
Oriental Bank of Commerce |
3 |
|
Indian Overseas Bank |
1 |
|
Canara Bank |
1 |
|
Jammu and Kashmir Bank Ltd. |
1 |
The bank wise list of bank branches
functioning as on
The total deposits and advances in
the district as on
(v) Post Office Savings Bank
Accounts
Post
offices are the most important outlets for the savings of the people especially
in the rural areas of the district. The post office savings banks in
The number of new post office accounts opened in Mansa District during 1992-93 was 357 which increased to 686 during 1999-2000. The details of new accounts opened and amount deposited in these accounts during 1992-93 to 1999-2000 is given below:
|
Year |
New Savings Banks Accounts Opened |
Amount Deposited (Rs) |
|
1992-93 |
357 |
53,18,154 |
|
1993-94 |
385 |
51,75,783 |
|
1994-95 |
449 |
18,68,642 |
|
1995-96 |
366 |
55,07,364 |
|
1996-97 |
439 |
72,79,613 |
|
1997-98 |
408 |
64,33,494 |
|
1998-99 |
375 |
79,20,436 |
|
1999-2000 |
686 |
1,26,19,572 |
(Source: Superintendent Post Offices, Bathinda)
(vi) Cooperative
Credit
The
progress made by cooperative institutions in the Mansa District has been
impressive, they compete with the commercial banks in mobilizing savings and
also providing credit facilities to the agricultural sector. The cooperative
credit institutions provide facilities for short and medium-term credit under
crop loan scheme for fertilizers, improved seeds, agricultural implements,
marketing storage, and extension of advanced agricultural techniques. The usual
sources of short-term finance of the farmers were the moneylenders who charged
exorbitant rates of interest and resorted to many malpractices to cheat the
ignorant and illiterate cultivators. The idea of using cooperation in
As on
Cooperative Credit Societies.- These societies mobilize savings of the members and advance loans at reasonable rate of interest for productive purposes. Previously, the moneylenders advanced loans and other essential commodities on credit to the borrowers and preferred to buy the produce of the latter, in lieu thereof at concessional rates. This exploitation of the cultivators acted like a double-edged blade, i.e. high rate interest on the loans advanced to the poor cultivators, and the low price given for their produce. The powers of the moneylenders were curtailed with the passage of the Punjab Registration of Moneylenders Act, 1938. The cooperative societies aim at eliminating the moneylenders, as a class.
The agricultural credit societies save the agriculturists from the exploitation of the private moneylenders. The societies inculcate the habit of thrift and with that end in view, they mobilize rural savings, so that they serve the twin purpose of thrift and credit. During1999-2000, there were 148 cooperative credit societies (111 agricultural credit societies and 37 non-agricultural credit societies) functioning in the district.
The non-agricultural credit societies comprise mostly employees’ credit societies catering to the credit requirements of persons outside agriculture. These societies also eliminate the exploitation of the artisans by the middlemen and to help the farmers in the purchase of raw materials and disposal of finished products. Efforts have been made to organize small-scale and cottage industries on cooperative lines. Tanning, shoe-making and handloom industry have been selected for this purpose.
The details regarding the membership and the working of agricultural and non-agricultural cooperative credit societies, functioning in the district during 1992-93 to 1999-2000 are given in the Appendix II and III on pages 135 and 136 respectively.
( c ) Insurance and Small Savings
Insurance.- With the
nationalization of life insurance business in 1956, the Life Insurance
Corporation of
The Life Insurance Corporation of
The Life Insurance Corporation of
|
Year |
Number of Policies |
Sum Assured (Rs in crores) |
|
1992-93 |
3,439 |
19.47 |
|
1993-94 |
3,373 |
18.62 |
|
1994-95 |
3,900 |
28.29 |
|
1995-96 |
3,977 |
28.53 |
|
1996-97 |
4,582 |
31.40 |
|
1997-98 |
4,782 |
31.18 |
|
1998-99 |
4,507 |
29.11 |
|
1999-2000 |
5,278 |
37.16 |
(Source: Manager, Life Insurance
Corporation of
Before the nationalization of general
insurance on
All types of general insurance policies are issued for only one year and are renewable every year. The risks covered under the general insurance are broadly of three types, viz. fire, marine (transportation of goods) and miscellaneous insurance. Under the miscellaneous insurance, there are about 20 to 25 types of insurance including motor insurance and all other types of insurance like fidelity guarantee, aviation insurance, burglary, personal accidents, etc. Besides, cattle and poultry insurance has also been introduced from 1974.
Small Savings.- National Savings Organisation offer a complete plan of savings to all types of investors and savers, regular assets, investment of accumulated savings for earning annual interest or compound rate of interest, along with capital on maturity encashment, a provident fund for self employed, a regular income after retirement, etc.
The network of post offices in the district mobilize small savings in rural as well as in the urban areas. Post Office Savings Banks extend banking facilities virtually at everybody’s doorstep.
The
Directorates of Small Savings have been set up in all the states to ensure
better co-ordination between the Central Organisation and the State
Governments. The Director, Small Savings,
Post offices savings bank accounts, cumulative time deposits, recurring deposits, National Saving Certificates, 15 Year Public Provident Fund, Kisan Vikas Patras, Indira Vikas Patras, etc. constitute small savings schemes in the post offices. These schemes have been introduced to instill the savings habit among people and to mobilize resources for a developing economy and at the same time these give them an opportunity to build capital assets out of their savings.
The
number of agents, who canvassed and propagated for the Small Savings Scheme on
commission basis, in the Mansa District as on
The net investment under the Small Savings Schemes in the district during 1995-96 to 1999-2000 are given below:
|
Year |
Net Investments (Rs in Crores) |
|
1995-96 |
16.70 |
|
1996-97 |
17.00 |
|
1997-98 |
19.19 |
|
1998-99 |
30.00 |
|
1999-2000 |
38.23 |
(Source : District Small Savings Officer, Mansa )
The National Savings Schemes offer certain unique facilities including nomination, immediate encashment by nominee on death of account holder, interest accrued on yearly basis for income tax purpose in the case of National Savings Certificates (VI issue); Social Security Certificates and no tax deduction at source. Amounts invested in these schemes are exempt from wealth tax up to Rs 5 lakhs for an individual.
National
Savings Certificates.- The Government of India have released National
Savings Certificates Series VIII. An investment in these certificates entitles
an investor to get income tax exemption under Section 88 of the Income Tax Act,
1961. The interest accruing annually but deemed to be reinvested will also
qualify for tax rebate under Section 88 of Income Tax Act. Such interest will
be entitled to exemption under section 80-L of Income Tax Act. There is no
upper limit for investment in these series. As on
(d)
Currency and Coinage
The
currency of
The decimal system of coinage was
introduced in the district on
half a rupee (dheli or athani), forth of a rupee (choani),
one eighth of a rupee (doani), one sixteenth of a rupee (anna),
one thirty second of a rupee (takka), and one sixty forth of a rupee (paisa).
An anna was equal to 4 paisa or 12 pies, there being 3 pies in a
pice. Gradually, the old coins were withdrawn from the circulation. After the
*
As on
** A process of coinization of Re 1, Rs 2 and Rs 5 denominations
was initiated in 1991 and these had been fully coinized from 1996.
However, in consultation with Government of India, the Rs 5
denomination notes has been reintroduced in May 2001 to
supplement Rs 5 coins.
♣ The Coinage Act was amended in 1969
Almost all countries in the world, therefore, have adopted decimal system of currency and coinage with a view to bring about uniformity and facilitating comparison with currencies of other countries of the world. Under this decimal coinage system, coins and paper currency of different denominations are in circulation. Now a rupee consists of 100 paisa, with coins in the denominations of 1,2,3,5,10,20,25 and 50 paisa. Minting of coins of 1,2,3 and 5 paisa has been restricted to control the circulation of small paisas. Currency notes are issued in the denominations Rs 5, 10, 20, 50, 100, 500 and 1,000.
At the initial stage of the introduction of the new currency, the public in general and rural masses in particular, faced some difficulties, as the old system was deep-rooted in them. In course of time, people have now fully adopted the decimal system of coinage.
The decimal coinage system has brought about a great transformation in the whole accounting procedure. Undoubtly, it has made the accountancy and book keeping much easier, quicker and simpler.
(B) Trade and Commerce
Mansa is basically an agricultural district and is famous for agro-based industries such as manufacturing of agricultural implements, tubewell parts, tractor trailers, carts, etc. With the opening of cotton ginning mills and rice shellers at Bareta, Budhlada and Sardulgarh, the processing of cotton and paddy has been started in the district. The district is surplus in main agricultural commodities. The main trade centres in the district are Mansa, Budhlada, Sardulgarh, Bareta and Bhikhi where the surplus commodities are brought for sale.
The value of export of industrial goods from the district was to the tune of Rs 1,620* lakhs during 1999-2000. The State Government is extending a number of facilities, like tax exemptions, cheap power, loans, etc. to the entrepreneurs for setting up industrial units in this area.
(a) Course
of Trade
The usual course of trade for agricultural produce in the district is through the dealers / middlemen who are members of the regulated market
committees. The growers bring their agricultural produce to a near by mandis and the dealers sell it to the traders. Commission agents (arhtias) wholesaler and retailers act as middlemen between the growers and the consumers as there is no direct link between them.
The purchasers of the agricultural produce gather at the shop of kachcha arhtias and the sale of commodities starts in open auction under the supervision of the auctioneers appointed by the market committee. Such sales are conducted daily during the hours fixed for this purpose. Kachcha
* Provisional
arhtias, who sell the commodities on behalf of the cultivators, receive commission on fixed rates, permissible under the bye-laws of the market committee and are responsible for the payments to the sellers. The commission is paid to the arhtias by the purchasers. The rate of commission during 1999-2000 was 2.5 per cent. The delivery of the goods is made at the shop of the kachcha arhtia.
(b) Trade Centres
(i) Regulated and Unregulated Markets
In order to save the agriculturists from exploitation by middlemen, the Punjab Agricultural Marketing Board (known as Punjab Mandi Board) has been set up by the State Government. The activities of agricultural markets are regulated by the Board under the Punjab Agricultural Produce Market Act, 1961,which provides for regulation of markets and formation of market committees. These regulated markets play an important role in helping sale of commodities at fair and reasonable price. The whole of the district has been covered by the regulated markets and purchase centres to save the cultivators from unhealthy market practices and to ensure them the fair price for his produce.
All the usual course of trade in agricultural produce from producer to consumer is handled through middlemen who are wholesalers, retailers and commission agents or arhtias. Market committees representing growers, dealers, cooperative societies and government have been set-up at all the markets. The committees regulate sale and purchase of goods. Each village of the district has been attached with one market or the other and the provisions of the Act are applicable to the whole of the area where transactions, delivery and weighment are done.
In the regulated markets, all commodities brought by the growers, village traders, etc, are sold in open auction in the presence of dealers under the supervision of the auctioneers, appointed by the market committee. Auction is held during the market hours at each shop turn by turn . When the auction is over, a receipt showing the weight, rate and net price after making necessary deductions is issued to the cultivators who later on showing the same, receives payment for the arhtias.
These markets provide a system of competitive buying, eradicate malpractices and ensure the use of standardised weights and measures. They also provide uniform market rates.
As on
(ii) Fairs (Melas) and other Rural Marketing
Centres
Fairs (Melas).- A number of religious, social, recreational and seasonal fairs and festivals are held in the district at various places. Fairs and melas play an important role in business transactions. Besides normal activities at a fair, many kinds of trading activities also take place. The details of these fairs have been given in Chapter III ‘People’.
Cattle Fairs.- The cattle fairs are organised with a view to offer facilities to the traders and farmers, to purchase and sell their cattle. Most of the cattle trade in this district consists of buffaloes, cows, camels, etc. These are held at various places in the district. These fair are of great advantage to the agriculturists as these facilitate the sale and purchase of cattle. These fairs are arranged on different dates every month at different places in the district. Apart from providing marketing facilities to the farmers and encouragement to the breeders these fairs bring handsome income to the authorities concerned in the form of market fee, which is charged 4 per cent of the sale proceeds from the purchaser. The seller of cattle has to pay Rs 10 per head as registration fee.
In Mansa
District Cattle fairs at Mansa, Bareta and Sardulgarh are held monthly and the
fair at Budhlada is held twice in a year i.e. in the month of April and
December. In addition to above cattle fairs, four cattle fairs at Bareta (in
the month of January, March, May and September) and two cattle fairs at Mansa
(in the months of February and July) are held every year.
(c) Cooperation in trade
(i) Cooperative Marketing
Keeping
in view the malpractices suffered by the cultivators in the marketing of
agricultural produce, the need for cooperative marketing was felt by the
Government. Consequently, a number of cooperative marketing societies were set
up at various places in the district. The cultivators can now store their
marketing produce in the godowns of these marketing societies. Previously, they
had to dispose it off immediately after harvesting. These societies act as a
check against malpractices such as under-weighing, unauthorised deductions and
delayed payment by the arhtias. The first cooperative
marketing-cum-processing society in the district came into existence at Mansa
on
At apex level, the Punjab State Cooperative Supply and Marketing Federation (MARKFED) federates these institutions. The details of cooperative marketing and supply societies functioning in the district are
given below:
|
Serial No |
Name of the society |
Date of Registration |
|
1 |
The Mansa Cooperative Marketing-cum-Processing Society Ltd., Mansa |
|
|
2 |
The Budhlada Cooperative Marketing-cum Processing Society, Ltd., Budhlada |
|
|
3 |
The Bareta Cooperative
Marketing-cum-Processing Society Ltd., Bareta |
|
|
4 |
The Sardulgarh Cooperative Marketing-cum-Processing Ltd Society., Sardulgarh |
|
Besides cooperative marketing societies, 164 milk supply societies, 79 weavers societies, 3 farming societies, 6 women societies and 17 housing societies were functioning in the Mansa District during 1999-2000. These societies serve the interests of the farming and other sections of the community in the district in an effective manner.
The work done by the cooperative marketing societies in the Mansa district during the years 1992-93 to 1999-2000 is given in Appendix IV at page 137.
(d) State
Trading
The main objective of the State Trading Scheme is to provide
essential commodities to the consumers at reasonable rates. The Food and
Supplies Department is engaged in the procurement of foodgrains in order to
give support price to the farmers and the distribution of essential commodities
in the State. The department has opened purchase centres for the facility of
farmers so that they are not to cover a distance of more than 5-6 km to sell
their produce. It also ensures that there is no glut in grain markets and the
produce is lifted the same day. As on
(Metric
tonnes)
|
Year |
Quantity purchased
|
|
|
1992-93 |
13,898 |
6,399 |
|
1993-94 |
- |
14,596 |
|
1994-95 |
41,802 |
22,134 |
|
1995-96 |
32,342 |
17,399 |
|
1996-97 |
37,852 |
20,965 |
|
1997-98 |
43,026 |
26,920 |
|
1998-99 |
29,147 |
22,845 |
|
1999-2000 |
18,000 |
35,000 |
(Source: District Food and Supplies
Controller, Mansa and Statistical Abstract
of
(e) Merchants’
and Consumers’ Associations and Organs for
Dissemination of Trade News
Merchants’ and Consumers’ Associations.- There is no merchants’ or consumers’ association functioning in the district.
Market Intelligence.- Almost all the daily newspapers disseminate market news to the public. In addition, there are some commercial dailies and periodicals which serve this purpose. The All-India Radio is the most important and effective instrument in this respect. The rates of various commodities in different markets in the State are broadcast daily. In these days some T.V. channels also relay daily market rates of different commodities. Besides, the market news about the rates of commodities are also disseminated to the public through boards displaying rates outside the offices of the market committees. In some of the marketing centres, market news are communicated to dealers at different places through correspondence and trunk calls. The communication of market news is very important for efficient marketing and right coordination of the forces of demand and supply.
(f)
Weights and Measures
There was no uniform use of standard weights and measures till the enforcement of Punjab Weights and Measures Act, 1941. The weights and measures differed not only from state to state but also from district to district in many respects. In order to standardise weights and measures throughout the country, the Government of India passed the Standard of Weights and Measures Act, 1939, which came into force in 1942. Under the Act both the systems were prescribed viz. the Indian-system i.e. tolas, seer and mound and avoirdupois systems i.e. ib., cwts, and tons. The Punjab Weights and Measures Act, 1941 brought some uniformity in the system of weights and measures.
The
square measure was the bighas equal to five eights of an acre. The
country kos was about one and quarter miles. Before the enforcement of
1956 Act, the following weights and
measures were in common use among the people living in the area of the present
Mansa District.
In urban
areas Maund, 20
seer, 10 seer, 5 seer, 4 seer, 1
seer,
chhatank, tolas,mashas and ratis
In rural
areas 2 ½ man
(kachcha) 1 maund
1
¼ man (kachcha) 20
seer
1
man (kachcha) 16
seer
1
dhari (10 seer kachcha) 2 seer
` 1 panjseri (5 seer kachcha) 2
seer
2
½ seer (kachcha) 1 seer
The Standard of Weights and Measures Act, 1956 was passed by the Parliament in 1956. The Act was passed by the Government to attain uniformity with the international standards. The legislatures of different States were directed to enact legislation for the implementation of the same. The Act, envisages the uniform system of weights and measures viz. the metric system having the following units of measurement:-
Meter (for length);
Kilogram (for mass);
Second (for time);
Ampere (for electric current);
Kelvin (for thermodynamic
temperatures); and
Candelo (for luminous in density)
In
November 1958, the Punjab Government enacted the Punjab Weights and Measures
(Enforcement) Act, 1958 and in February 1959 notified the rules for its
enforcement. From October 1960 the use of metric weights and measures was made
compulsory. The use of metric system became obligatory from 1962.
The system has been adopted
wholeheartedly by the people living in rural areas.
(g) Storage and Warehousing
In villages, people store agricultural produce in houses, kothas or in bags. In markets, the commission agents and cooperative marketing societies maintain godowns. Mills and factories maintain godowns at their premises to stock their raw material and finished manufactures. But these godowns were not of desired specifications.
In order to provide scientific storage
facilities to the agriculturists, the Royal Commission on Agriculture in 1928,
the Reserve Bank of
As
on
(In
metric tones)
|
Serial No |
Name of Centre |
Date of opening of warehouses |
Total capacity
Owned Hired |
Total
Utilization |
Percentage Occupancy |
||
|
1 |
Budhlada |
1964 |
25,200 |
12,150 |
37,572 |
101 |
|
|
2 |
Bareta |
1968 |
20,400 |
9,285 |
30,642 |
103 |
|
|
3 |
Bhikhi |
1983 |
18,450 |
910 |
11,846 |
61 |
|
|
4 |
Mansa |
- |
-
|
22,800 |
20,345 |
89 |
|
|
5 |
Sardulgarh - |
- |
8,550 |
8,534 |
100 |
||
( Source : District Manager,
The
main functions of the Corporation are; to acquire and build godowns and
warehouses; to run warehouses for the storage of agricultural produce, seeds,
fertilizers and notified commodities; to arrange facilities for the transport
of agricultural produce seeds, fertilizers and notified commodities to and from
warehouses and to act as an agent of the Government of Punjab for the purchase,
sale, storage and distribution of agricultural produce, seeds, fertilizers and
notified commodities.
The scheduled banks make advance to
the depositors on the pledge of warehouse receipts according to the credit
restrictions of the Reserve Bank of
______________________________________________________________*(Parliament Act No. 58 of 1962.- Vide Punjab Government Notification
No. 1200 (G)- Agri-VIII/55/8602 dated
APPENDIX I (Vide page 120)
Banking Offices functioning at various places in the
Mansa District as on
|
Serial No. |
Name
of the Bank |
|
Branches |
Date
of Opening |
|
1 |
2 |
|
3 |
4 |
|
1 |
State
Bank of |
1 |
Mansa
(Main branch) |
|
|
|
|
2 |
Mansa
(A.D.B) |
|
|
|
|
3 |
Mansa
(I.A) |
|
|
|
|
4 |
Khiala
Kalan |
|
|
|
|
5 |
Bhikhi |
|
|
|
|
6 |
Jhunir |
|
|
|
|
7 |
Fatta
Maluka |
|
|
|
|
8 |
Sardulgarh |
|
|
|
|
9 |
Bhainiwala |
|
|
|
|
10 |
Budhlada |
|
|
|
|
11 |
Bareta |
|
|
|
|
12 |
Baran |
|
|
|
|
13 |
Boha |
14November
1970 |
|
|
|
14 |
Ralla |
.. |
|
II |
Punjab
National Bank |
1 |
Mansa |
2 May 1953 |
|
|
|
2 |
Bhikhi |
|
|
|
|
3 |
Hero
Kalan |
|
|
|
|
4 |
Sardulgarh |
|
|
|
|
5 |
Budhlada |
|
|
|
|
6 |
Bareta |
|
|
|
|
7 |
Borawal |
24
May 1978 |
|
|
|
8 |
Kulrian |
24
May 1978 |
|
|
|
9 |
Mughanian |
.. |
|
III |
State
Bank of |
1 |
Mansa |
|
|
|
|
2 |
Bhaini
Bhagha |
|
|
|
|
3 |
Joga |
|
|
|
|
4 |
|
|
|
IV |
Punjab
& Sind Bank |
1 |
Sangha |
|
|
|
|
2 |
Jhanda
Kalan |
1December 1983 |
|
|
|
3 |
Bachhoana |
|
|
V |
Oriental
Bank of |
1 |
Mansa |
|
|
|
Commerce |
2 |
Budhlada |
|
|
|
|
3 |
Bareta |
|
|
VI |
Indian
Overseas Bank |
1 |
Mansa |
|
|
VII |
Canara
Bank |
1 |
Mansa |
|
|
VIII
|
The
Jammu & Kashmir Bank Limited |
1 |
Mansa |
15
May 1998 |
|
XI |
Faridkot
Bathinda Kshetriya
Gramin Bank |
1 |
Mansa |
|
|
|
2 |
Musa |
|
|
|
|
3 |
Ubbah |
|
|
|
|
|
4 |
Phaphre
Bhaike |
|
|
|
|
5 |
Bhama
Kalan |
|
|
|
2 |
|
3 |
4 |
|
|
|
6 |
Sardulgarh |
|
|
|
|
7 |
Budhlada |
|
|
|
|
8 |
Bareta |
|
|
X |
Mansa
Central Co- |
1 |
Mansa |
22
May 1957 |
|
|
operative
Bank Ltd. |
2 |
Bhikhi |
|
|
|
|
3 |
Khiala
Kalan |
|
|
|
|
4 |
Ubbah
Burj Dhilwan |
|
|
|
|
5 |
Phaphre
Bhaike |
|
|
|
|
6 |
Jhunir |
|
|
|
|
7 |
Sardulgarh |
|
|
|
|
8 |
Fatta
Maluka |
|
|
|
|
9 |
Jatana
Kalan |
|
|
|
|
10 |
Bhama
Kalan |
|
|
|
|
11 |
Bhainiwala |
|
|
|
|
12 |
Budhlada |
|
|
|
|
13 |
Bareta |
|
|
|
|
14 |
Bachhoana |
|
|
|
|
15 |
Baran |
|
|
|
|
16 |
Govindpura |
|
|
|
|
17 |
Boha |
|
|
|
|
18 |
Biroke
Kalan |
|
|
|
|
19 |
Joga |
|
|
|
|
20 |
Man
Bibrian |
|
|
|
|
21 |
Budhlada
(Sugar Mill) |
26
May 1990 |
|
|
|
22 |
Bajewala |
|
|
XI |
Primary
Agricultural |
1 |
Mansa |
|
|
|
Land
Development Bank |
2 |
Budhlada |
|
|
|
|
3 |
Sardulgarh |
|
(Source: Chief Manager, Lead Bank, Mansa)