f IDB(Industrial Developmen

Aakash Sharma(231002)
Abhijeet Aggrawal(231005)
Ayush Jasoria(231037)
Hitesh Bajaj(231065)
Jayant Adlakha(231070)

SUBMITTED TO: PROF. V.K. DUTTA

Contents
Should we open a bank?........................................................................................ 4
Challenges in opening a bank................................................................................4
Guidelines for Licensing of New Banks in the Private Sector.................................5
Eligible promoter............................................................................................. 5
Fit and proper criteria...................................................................................6
Corporate structure of the NOFHC...................................................................6
Minimum equity capital...................................................................................6
Foreign shareholding....................................................................................... 7
Corporate governance of the NOFHC..............................................................7
Exposure norms of the NOFHC........................................................................7
Rural bank branches and priority sector lending.............................................7
Bank Name............................................................................................................ 8
Promoters.............................................................................................................. 8
Key people.......................................................................................................... 8
Board of Directors.................................................................................................. 8
Business Plan......................................................................................................... 9
Purpose of plan...................................................................................................... 9
Operations.......................................................................................................... 9
Retail Banking................................................................................................. 9
Corporate Banking........................................................................................... 9
IT in Banking..................................................................................................... 10
Bank Structure..................................................................................................... 11
Committees......................................................................................................... 11
CSR Committee................................................................................................ 11
Audit Committee.............................................................................................. 11
Stakeholders Committee.................................................................................12
Customer Service............................................................................................. 12
Treasury and Finance Committee.....................................................................12
Number of branches............................................................................................ 12
Marketing strategy............................................................................................... 13
Financial Projections .......................................................................................... 14
Balance Sheet...................................................................................................... 15
Profit And Loss A/c............................................................................................... 16
2

Schedules .......................................................................................................... 17

Should we open a bank?

Although more new banks will help in increasing competition, increasing
competition and will help in promoting financial inclusion but more than
new bank we should first allow non-banking finance corporations and
microfinance institutions into banking. Also competition within the banking
sector comes with mixed benefits, if at all. Competition squeezes margins
and forces banks to seek and accept excessive risk to generate returns for
shareholders and compensation for executives.
Most of the bank assets are bottled up in cash reserve ratio, statutory
liquidity ratio and priority sector lending obligations, leaving small part of
the bank assets to generate acceptable returns for shareholders. This will
give unnecessary pressure on bank.
Also even if we say that we need more and more branches that can reach
rural areas, this can be avoided with electronic banking and anywhere
banking, a multiplicity of branches is no longer an imperative.
The present effort to issue new bank licenses seems to be an attempt to
create a one-size-fits-all situation but we need all kinds of banks. We need
big banks with reach and stability (we already have those with the SBI,
HDFC Bank, etc), we need small banks that raise deposits locally and lend
in the same catchment area (we have local area banks, but they have
made little progress), we need narrow banks (which only take deposits,
but do not lend), we need banks that (maybe) only lend (to the poor and
raise that money from the big banks in chunks), we need banks that are
very lean but use technology to service customers without either raising
deposits or giving out loans (the so-called white-label ATMs are banks
too), and we also need non-bank finance companies that exist for
specialized purposes (gold loans, housing loans, etc).
Therefore The RBI needs to encourage a diversity of financial institutions
and not be suspicious of anything that does not resemble a bank. It needs
a mindset change.
Challenges in opening a bank
Regulatory requirements
New banks will have to meet CRR (cash reserve ratio) and SLR (service
level requirements) mandates from day one.

Financial inclusion and priority sector lending

RBIs two primary objectives in issuing new licenses could prove costly
and difficult for most applicants. Taking banking services to unbanked
areas and lending to priority sectors could significantly pressure banks
balance sheets.

Capital investment

Following issuance of licenses, the new banks will need to set up an

operational branch within 18 months. This will require investments in land,
premises, IT and other infrastructure; recruitment and training of
personnel; and advertising and publicity

Human resources

The new banks will need staff that is trained for work in a banking set-up.
Apart from technical skills, staff will need to be proficient in soft skills as
well, since banking today is also about relationship management.

IT infrastructure

Applicants that are given licenses will need to considerably enhance their
IT infrastructure. Tasks like core banking implementation and multichannel banking are likely to pose major challenges for a new bank.

Regulatory reporting and compliance automation

The regulatory reporting environment for a bank is very different than that
of other financial entities.

A highly competitive marketplace

Even though new banks are expected to tap unbanked areas, this may not
happen immediately

Customer loyalty

Not all customers are dissatisfied with their existing banks, and not all
dissatisfied customers are likely to switch banks.

Multi-channel banking

In the initial stages, new banks may not have a strong branch network or
a presence in all geographical locations. To compensate for this, banks
would need to offer access to banking services through multiple channels,
such as online banking, phone banking and mobile banking.

Guidelines for Licensing of New Banks in the Private Sector

Eligible promoter
Eligibility criteria
NBFCs and entities in the public and private sectors are eligible to set up a
bank through an NOFHC.
Analysis
The earlier restriction on large industrial houses has been removed. The
financial resources and management expertise that such applicants bring
has been recognised. This is relevant in light of the failure of banks
promoted by individuals and banking professionals
Fit and proper criteria
Eligibility criteria
Applicants should have sound credentials and a 10-year track record of
running their business successfully.
Analysis
RBI has given due importance to the credentials and integrity of
applicants. The 10-year track record criteria should ensure that only those
applicants with a sound business model and those that have
demonstrated the ability to run a successful business are given entry into
this sector. This too seems to be largely driven by the experience from
licenses given earlier, as well as by recent media reports on some banks
flouting AML guidelines.
Corporate structure of the NOFHC
Eligibility criteria
The NOFHC should be wholly owned by applicants
Analysis
As a holding company, the NOFHC will hold the bank and any other
financial service entities of the bank, e.g., it will be the holding company
for activities conducted through a subsidiary/JV such as insurance,
broking and also the holding company and for activities conducetd
internally or through subsidiaries/JV such as credit cards. The objective of
the holding company is to separate the regulated financial service entities
of the promoter groups from its other activities. Through such an
arrangement, the RBI would be able to regulate the financial service
activities of the holding company on a consolidated basis. The NOFHC is to
be registered as an NBFC with the RBI.
Minimum equity capital
Eligibility criteria
6

INR 500 crores to be put up by applicants. Bank to list itself within three
years from start of operations.
Analysis
The minimum capital to be brought in by promoters was capped at Rs 500
crores, considering the capital outlay that would be required for setting up
a new banking business. It has been raised from Rs 200 crores from the
earlier cycle, taking into consideration the changed economic conditions.
Additional capital may be approved if the promoters business plans make
a compelling case.
Foreign shareholding
Eligibility criteria
Not to exceed 49% for the first five years.
Analysis
The current FDI policy notwithstanding, non-resident shareholding is to be
kept under 49% for the first five years from the date of issuance of the
license. This guideline seeks to ensure that the new bank does not
become a takeover target in the initial years of its existence a period
when financials may not be very strong and valuations are likely to be
cheap. This guideline may also ensure that the new bank remains
classified as an Indian bank and is regulated accordingly.
Corporate governance of the NOFHC
Eligibility criteria
At least 50% of directors should be independent directors.
Analysis
Independent directors bring with them objectivity, and are generally not
susceptible to internal pressures. They also bring a different perspective
to any issue, compared to the banks own directors. They are in a better
position to protect shareholders interests and also ensure that the entity
is being run effectively and ethically. The RBI has mandated that
independent directors should have experience/knowledge of one or more
of the following subject areas: accounting, finance, banking, insurance,
law, MSME, agriculture and rural economy, for example.
Exposure norms of the NOFHC
Eligibility criteria
NOFHC and the bank will have no exposure to the promoter group. The
bank cannot invest in capital instruments of financial entities held by the
NOFHC.
Analysis

This should ensure that the promoter groups banking business functions
separately, and is regulated apart from its other businesses.
Rural bank branches and priority sector lending
Eligibility criteria
Bank to open at least 25% of its branches in unbanked rural centers, and
also comply with PSL targets and sub-targets
Analysis
This will ensure that the new banks get serious about the RBIs agenda of
financial inclusion and rural banking. Unlike earlier, when the mandate
was to open branches in rural and semi-urban areas, this time around the
focus is on rural banking.
IDB(Industrial development Bank )
Promoters
Muthoot finance- It is known as the largest gold financing company in
the world. In addition to financing gold transactions, the company offers
foreign exchange services, money transfers, wealth management
services, travel and tourism services, and sells gold coins at Muthoot
Finance Branches. It operates over 4,400 branches throughout the
country.
The company has been licensed by Reserve Bank of India under Section
45 I(a) of the RBI Act, 1934 to function as a Non-banking financial
company(NBFC) without accepting public deposits.
Key people
M G George Muthoot (Chairman) is
an Indian entrepreneur and Businessman with more than 55 years of
industry experience. He is also a member of the National Executive
Committee of the Federation of Indian Chambers of Commerce & Industry
and the Chairman of the FICCI Kerala State Council
George Alexander Muthoot (MD) was appointed as the Managing
Director of the Muthoot Group in February 1993
George Jacob Muthoot Joint Managing Director
George Thomas Muthoot Joint Managing Director
Apart from the Muthoot group, GIC Singapore's sovereign wealth fund ,
International Finance Corporation (IFC) will be the banks major
shareholders.

Board of Directors
1. Mr. N.S. Kannan (MD and CEO)- His responsibilities includes
Finance, Treasury, Commercial Banking, Corporate Legal, Risk
Management, Secretarial, Corporate Communications, Corporate
Branding and Strategic Solutions Group. He also has the
responsibility for day to day administration of the Compliance and
Internal Audit functions. Mr. Kannan was Executive Director & CFO of
ICICI Bank from May 1, 2009 to October 25, 2013.
2. Mr. Rajiv Sabharwal - He has over 22 years of experience in the
Banking/Financial Services industry. He will be responsible for Retail
Banking, Business Banking, and Rural Banking & Financial Inclusion
Business.
3. Mr. Dileep Choksi - is a qualified chartered accountant and has
over 35 years of professional experience. In addition to tax and
commercial law, his areas of practice have included the audit &
assurance functions. In the field of banking, he has held the
positions of director and member of advisory boards.
4. Mr. Homi R. Khusrokhan- He has over 40 years experience in the
corporate sector. He has earlier been the Managing Director of Tata
Tea Limited and Glaxo India Limited.
5. Dr. Tushaar Shah-He is an economist and public policy specialist
and was formerly the Director of the Institute of Rural Management
at Anand in India. He has over 30 years of experience and has done
extensive research in water institutions and policies.
6. Mr. V. K. Sharma- is the Managing Director of LIC effective
November 1, 2013 prior to which he was the Managing Director &
CEO of LIC Housing Finance Limited (LIC HFL). He has been
associated with LIC since 1981.
7. Dr. Sanjiv Misra- was a member of the Indian Administrative
Service for over 35 years during which period he held a wide range
of key positions in the Federal and state governments, He was a
Secretary in the Ministry of Finance till his superannuation in 2008.
Subsequently, he served as a Member of the 13th Finance
Commission, a constitutional position with the rank of a Minister of
State.
The promoters of the Muthoot finance and Board of directors has vast
industry knowledge with the knowledge of diverse field; experience of
atleast 30 years.All the key position holders has a clean track record and
have successfully held important designations in their prior stint.
The current business model of promoters group i.e gold financing is
different from the proposed bank business model; mainly related to
Deposit, Loans and Investment. Hence both the business model wont
interfere with each other and hence the risk is avoided.
9

Business Plan
Business plan will describe the purpose and operations of the bank.
Purpose of plan
The main purpose is to get the approval for opening a new bank.
Operations
Major operations of the bank will be in retail and corporate banking
Retail Banking
Bank will open various branches for retail branches in urban, semi-urban
and rural areas. Urban branches will constitute 75% of branches.
Corporate Banking
Bank will provide loans to various companies and industries operating in
different sector
Revenue
Interest from Loans like Home loans, Education loans, Auto loans,
Personal loans, and MSME.
Fee/commission for various services like drafts, internet banking,
derivatives and transaction
Income on investments
Interest on balances with RBI and other bank
Investments in banking
Government securities
Debentures and bonds
Instruments like CD/CP, mutual fund
Expenses
Interest on deposits
o Saving deposit
o Term deposit
o Current deposit
o RBI/inter-bank borrowings
Operating expenses
o Provisions to employees
o Rent, taxes and lighting
o Printing and stationary
o Advertisement
o Repairs and maintenance
Channel expenses
o Branches cost
o Setting up ATMs
o Internet banking set-up
10

o Mobile banking set-up

o Call centre expenses
IT in Banking
IT operations in bank has been outsourced to third part for maintenance

For centralized database

Call centre/ customers helpdesk(CRM)
Operational excellence
Online banking
Business Intelligence

Bank Structure

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11

Committees
C
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CSR

Committee
To allocate the budget for CSR activities
Identify the major CSR activities
Comply with the government rules and regulations

Audit Committee
Responsible for monitoring the accounting practices in the bank
Keep a check that all the standards and rules are followed
To review the financial reports of the company and look for
discrepancies if any
To keep a check on Fraud
Stakeholders Committee
To look into redressal of shareholders
To look into the grievances of shareholders on various issue
Customer Service
To look into the grievances of customers on various issue
To identify the solutions for customers going out of business
Treasury and Finance Committee
Asset-liability management
Investment portfolio management
Comply with Liquidity requirements

12

Number of branches
We are planning to open 20 branches on day1 .There will be
around 15 branches in tier1 and 5 branches in tier 2 cities, the
reason being is that we are targeting industrial hubs which are
mostly present in tier 1 and tier 2 cities.
Branches on DAY1
CITY
CLASSIFICATI
ON
TIER1
TIER1
TIER1
TIER1
TIER1
TIER1
TIER1
TIER1
TIER2
TIER2
TIER2
TIER2
TIER2

CITY

BRANCHES2016

DELHI
MUMBAI
KOLKATA
CHENNAI
BANGLORE
HYDERABAD
AHMEDABAD
PUNE
CHANDIGARH
JAIPUR
THIRUVANANTHPUR
AM
KOCHI
WARANGAL

2
2
2
2
2
2
2
1
1
1
1
1
1

In a year(2016) we are planning to open around 100 branches

with 25 percent in rural areas as per RBI guidelines.
In the next year (2017) we will introduce around 25 new branches
,these will be introduced in tier2 and tier3 cities along with 6 new
rural branches.
Considering the projected growth rate we will grow by 35% so we
around 43 new branches to be included in the year 2018.

Number of employees
There will be around 15 employees per branch .Considering that we are opening around 100
branches so there comes out to be 1,500 employees in a year.Apart from this there are 7
board of directors.

Marketing strategy
The two main pillars of our marketing strategy are Market penetration and
Product development.

13

Will upgrade our branches and the employees with the latest technology
and enter into the untapped markets with wider product portfolio.
Expansion in more cities with more number of branches and ATM services
will take place in few years once the bank came into functioning. New
technology will help in improving the customer experience related to the
services like Internet banking and Mobile banking. Our brand is a popular
name in the market and known to the customers so this factor of brand
image will also help us to expand and in increasing our reach.
We will use both, above the line and below the line techniques for the
promotion

The above the line promotion includes the advertisement in popular

TV channels, News channels, Financial news papers and Magazines.
Below the line promotion will include the events that will be
organized in different company offices for the awareness of our
banks, distribution of brochures there and lead generation. Sales
team will interact with prospects directly to convert them into
customers.

Focus on customer relationship will help in the improvement of customer

satisfaction and ultimately to a large customer base of the company.

Financial Projections
Particulars
Demand Deposits

Deposits Break-up
2016

Number of Current Accounts

500

Number of Other Savings A/c

1700

Savings Bank deposits

Term Deposits
Number of Bank's Term
Deposit
Number of Other's Term
deposit
14

2017
550 600
1870 2,040

180

198 216

280

308 336

900

990 1,080

2018

Break-up Advances( Product wise) (In Thousands)

2016
2017

Date/Product

2018

Demand Deposits
Number of Current Accounts

868,480.81

1,041,818.82

1,383,462.08

Number of Other Savings A/c

312,653.09

375,054.78

498,046.35

Savings Bank deposits

Term Deposits
Number of Bank's Term
Deposit
Number of Other's Term
deposit

2,952,834.74

3,542,183.99

4,703,771.07

1,563,265.45

1,875,273.88

2,490,231.74

486,349.25

583,418.54

774,738.76

Average Deposits

Particulars

6183583.333 7,417,750.00
Schedule :Advances
2016

9,850,250.00

2017

2018

Home loans

1,200,000.00

1,800,000.00 3,200,000.00

Education loans

300,000.00

450,000.00

800,000.00

Auto loans

600,000.00

900,000.00

1,600,000.00

Personal loans

150,000.00

225,000.00

400,000.00

MSME,Others

750,000.00

1,125,000.00 2,000,000.00

Total

3,000,000.00

4,500,000.00 8,000,000.00

15

Balance Sheet
Balance Sheet as on 31st March 9 ( In Thousands)
Schedul
Particulars
e No.
2016
2017
Capital and Liabilities

2018

Capital

5,000,000.
00

5,000,000.
00

5,000,000.
00

Reserves & Surplus

Deposits

6,000,000.
00

7,500,000.
00

10,000,000
.00

Borrowings

Other Liabilities and Provisions

741,659.83

884,083.33

996,958.66

11,741,659
.83

13,384,083
.33

15,996,958
.66

270,000.00

375,000.00

550,000.00

289,000.00

404,790.52

189,818.99

Investments

2,700,000.
00

3,000,000.
00

2,500,000.
00

Advances

3,000,000.
00

4,500,000.
00

8,000,000.
00

Fixed Assets

4,032,659.
82

4,234,292.
81

4,235,139.
67

Other Assets

1,450,000.
00

870,000.00

522,000.00

Total

11,741,659
.83

13,384,083
.33

15,996,958
.66

Total
Assets
Cash in Hand & Balances with
R.B.I.
Balances with Banks and Money
at call and short Notice

16

Profit And Loss A/c

Income Statement for the year ended 31st march ( In Thousands)
Sched
Particulars
ule
2016
2017
2018
Income
541,016.4
7

638,618.9
2

855,968.3
1

Fee income and other

income

90,000.00

135,000.0
0

360,000.0
0

Commission, Exchange,
Brokerage

178,900.0
0

200,368.0
0

224,412.1
6

Profit/Loss on derivative
transactions

89,000.00

106,800.0
0

128,160.0
0

Dividend Income

7,850.00

10,205.00

13,266.50

Total

1,195,116
.97

1,405,905
.62

1,813,077
.57

Interest Expended

401,932.9
2

445,065.0
0

615,640.6
3

Operations Expenses

120,000.0
0

131,250.0
0

150,000.0
0

Provisions &
contingencies

741,659.8
3

884,083.3
3

996,958.6
6

Total

1,263,592
.74

1,460,398
.33

1,762,599
.29

Net Profit

(68,475.7
7)

(54,492.7
1)

50,478.29

Interest Earned

Expenditure

17

Add: Balance brought

Forward
Transfer to Statutory reserve
Balance Carried forward

68475.77
466

54492.71
408

(68,475.7
7)

Earnings per Equity Share

(54,492.7
1)

50,478.29

0.01%

Schedules
Schedule 1: Capital
Total Paidup capital
Face value of each Share
Total Number outstanding
shares

5,000,000,000.
00
10
500,000,000.00
Schedule 3: Deposits

Particulars
A. Demand Deposits

2016

2017

2018

From Banks

300,000.00

375,000.0
0

500,000.00

From others

600,000.00

750,000.0
0

1,000,000.
00

2,250,000
1,800,000.00 .00

3,000,000.
00

1,125,000
.00

1,500,000.
00

3,000,000
2,400,000.00 .00

4,000,000.
00

6,000,000.00 7,500,000

10,000,000

B. Savings Bank deposits

C. Term Deposits
From Banks

900,000.00

From others
Total

18

.00

Particulars
Interest on Advances
Income on Investments

.00

Schedule : Interest Earned

2016
299516
241500

2017
377577
261042

2018
638677
217292

541016

638619

855968

Total

Average deposits
Closing Bal. of Advances (In
Thousand)

2015-16

2016-17

2017-18

15-Apr

6,340,000
5,340,000.00 .00

7,340,000.
00

30-Apr

6,300,000
5,800,000.00 .00

7,800,000.
00

15-May

6,600,000
6,100,000.00 .00

8,100,000.
00

31-May

6,480,000
5,980,000.00 .00

8,980,000.
00

15-Jun

7,139,000
6,239,000.00 .00

9,239,000.
00

30-Jun

6,958,000
6,458,000.00 .00

10,458,000
.00

15-Jul

7,390,000
6,890,000.00 .00

10,890,000
.00

31-Jul

7,920,000
6,700,000.00 .00

10,700,000
.00

15-Aug

7,900,000
6,400,000.00 .00

10,400,000
.00

31-Aug

8,300,000
6,800,000.00 .00

10,800,000
.00

8,260,000
6,760,000.00 .00

10,760,000
.00

15-Sep
30-Sep
19

7,840,000
6,340,000.00 .00

10,340,000
.00

15-Oct

7,300,000
5,800,000.00 .00

9,800,000.
00

31-Oct

6,930,000
5,430,000.00 .00

9,430,000.
00

15-Nov

6,910,000
5,410,000.00 .00

9,410,000.
00

30-Nov

6,919,000
5,419,000.00 .00

9,419,000.
00

15-Dec

7,390,000
5,890,000.00 .00

9,890,000.
00

31-Dec

7,730,000
6,230,000.00 .00

10,230,000
.00

15-Jan

8,020,000
6,520,000.00 .00

10,520,000
.00

31-Jan

8,390,000
6,890,000.00 .00

10,890,000
.00

15-Feb

8,040,000
6,540,000.00 .00

10,540,000
.00

28-Feb

7,740,000
6,240,000.00 .00

10,240,000
.00

15-Mar

7,730,000
6,230,000.00 .00

10,230,000
.00

31-Mar

7,500,000
6,000,000.00 .00

10,000,000
.00

7,417,750
6,183,583.33 .00

9,850,250.
00

Average deposits
Weighted average cost of
funds

6.50%

Total Cost

401,932.92

Schedule : Investments
20

6%

6.25%

445,065.0
0

615,640.63

As On

2016
2750000
2750000
2850000
2850000
2850000
2450000
2450000
2450000
2700000
2700000
2700000
2700000

2017
3050000
3050000
3150000
3150000
3150000
2750000
2750000
2750000
3000000
3000000
3000000
3000000

2018
2550000
2550000
2650000
2650000
2650000
2250000
2250000
2250000
2500000
2500000
2500000
2500000

2683333

2983333

2483333

9%
241500

8.75%
261042

8.75%
217292

Scehdule: Average Advances

2016

2017

2018

30-Apr
31-May
30-Jun
31-Jul
31-Aug
30-Sep
31-Oct
30-Nov
31-Dec
31-Jan
28-Feb
31-Mar
Average Investments
Average yield on
investments
Total Yield

Particulars
April

3,100,000
2,700,000.00 .00

4,700,000.
00

May

3,193,000
2,727,000.00 .00

4,935,000.
00

June

3,288,790
2,754,270.00 .00

5,181,750.
00

July

3,387,453
2,781,812.70 .70

5,440,837.
50

August

3,489,077
2,809,630.83 .31

5,712,879.
38

September

3,593,749
2,837,727.14 .63

5,998,523.
34

October

3,701,562
2,866,104.41 .12

6,298,449.
51

November

3,812,608
2,894,765.45 .98

6,613,371.
99

December

3,926,987
2,923,713.11 .25

6,944,040.
59

21

January

4,044,796
2,952,950.24 .87

7,291,242.
62

February

4,166,140
2,982,479.74 .78

7,655,804.
75

March

4,500,000
3,000,000.00 .00

8,000,000.
00

Average Advances
Average return on loans

3,683,680 6,230,991.
2,852,537.80 .55
64
10.50%
10.25%
10.25%
377,577.2
299,516.47
6
638,676.64
3%
3%
4.50%

Return
Fee income and other
income (as percentage of
year end advances)

135,000.0
0

360,000.00

2017

2018

570,507.56

663,062.5
0

623,099.16

28,525.38

36,836.81

62,309.92

Provision for other

contingencies(5%)

142,626.89

184,184.0
3

311,549.58

Total

741,659.83

884,083.3
3

996,958.66

Particulars

90,000.00

Provisions & Contingencies

2016

Provisions For NPA's (15%)

Provision for Restructured
assets (1%)

22