Beruflich Dokumente
Kultur Dokumente
PROJECT REPORT
ON
EVOLUTION OF WARANA
“BEYOND THE LUCKY GOLD
STAR GROUP”
Submitted by:
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Declaration by Student
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INSTITUTE OF AGRIBUSINESS MANAGEMENT
NAVSARI AGRICULTURAL UNIVERSITY
NAVSARI-396 450
CERTIFICATE
Approved
Dean
IABM
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ORGANIZATIONS CERTIFICATE
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ACKNOWLEDGEMENT
Last but not the least I would also like to express my deep gratitude
towards all the faculty members, my parents, my beloved friends and all
those for their generous help during this study directly or indirectly.
Place:
Date: Vishwesh Shashikant Dange
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I Dedicate this
Project to my
Beloved Parents and
Friends.
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support and inspiration given by
them.
Vishwesh
CONTENTS
Sr. No. Particulars Page No.
1) Executive Summary 10
2) Introduction to Warana Co-operative Complex 12
3) Members’ Activities in Warana Co-op. Complex 15
4) Industry and Organization Profile 18
a. Profile of Co-operative Consumer Stores in
19
Indian Retail Industry
b. Profile of Warana Bazaar 21
c. Profile of Co-operative Banks in Indian banking
38
Industry
d. Profile of Warana Bank 41
5) The Project 50
6) Research Methodology 53
7) Data Presentation and Analysis 56
8) Findings, Recommendations and Conclusion 103
9) Bibliography 108
10) Appendix 109
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LIST OF TABLES
Table No. Title Page No.
1. Development of Warana Bazaar 23
2. Board of Directors 27
3. Area of Operation 28
4. Activities for Members 30
5. Benefits to Staff besides salary 31
6. Consultancy to Bazaars 33
7. Franchisees of Warana Bazaar 37
8. General Information of Warana Bank 44
9. Distribution of Profits by Warana Bank 46
10. Manpower involvement in Warana Bazaar 57
11. Members of Warana Bazaar 57
12. Members Share Capital in Warana Bazaar 59
13. Total share Capital of Warana Bazaar 59
14. Working Results of Warana Bazaar 61
15. Financial Assistance from government 62
16. Total Sales of Warana Bazaar 63
17. Total Income of Warana Bazaar 65
18. Performance Highlights of Warana Bank 66
19. Loans Sanctioned by Warana Bank 67
20. Profit Earned by Warana Bank 68
21. Working Capital requirement of Warana Bank 69
22. Deposits 70
23. Frequency Table for Population 96
24. Frequency Table for Age Group 97
25. Qualification of Respondents 98
26. Monthly Expenses 99
27. Benefits from Warana Bazaar 100
28. Display of Goods 101
29. Product Mix Satisfaction 102
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LIST OF FIGURES
Figure No. Title Page No.
1. Organizational Chart 25
2. Members of Warana Bazaar 58
3. Total share Capital of Warana Bazaar 60
4. Total Sales of Warana Bazaar 64
5. Total Income of Warana Bazaar 65
6. Loans Sanctioned by Warana Bank 67
7. Profit Earned by Warana Bank 68
8. Working Capital requirement of Warana Bank 69
9. Deposits 70
10. Frequency Table for Population 96
11. Frequency Table for Age Group 97
12. Qualification of Respondents 98
13. Monthly purchases from Warana Bazaar 99
14. Benefits perceived from Warana Bazaar 100
15. Proper Display of Goods 101
16. Product Mix Satisfaction 102
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EXECUTIVE SUMMARY
“My father and I started a cosmetic cream factory in the late 1940s. At that
time, no company could supply us with plastic caps of adequate quality for
cream jars, so we had to start a plastic business. Plastic caps alone were
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not sufficient to run the plastic-molding plant, so we added combs,
toothbrushes and soapboxes. This plastic business also led us to
manufacture electric fan blades and telephone cases, which in turn led us
to manufacture electrical and electronics products and
telecommunications equipment. The plastic business also took us into oil
refining which needed a tanker-shipping company. The oil-refining
company alone was paying an insurance premium amounting to more
than half the total revenue of the largest insurance company in Korea.
Thus, an insurance company was started. This natural step-by step
evolution through related businesses resulted in Lucky Goldstar group as
we see it today. For the future, we will base our growth primarily on
chemicals, energy and electronics. Our chemical business will continue to
expand toward fin chemical and genetic engineering while the electronics
business will grow in the direction of semiconductors manufacturing, fiber
optic telecommunications and eventually, satellite telecommunications.
(Milgrom & Roberts, ibid, pp. 543).
Also the objective of the study is to study the role of leadership i.e. the role
of Shri. Tatyasaheb Kore and his associates who were the establishment
pillars of Warana Co-operative Complex, in starting up of Warana Bazaar
and Warana Bank and its progress. The competitive advantages of both
these organizations are identified over their rivals which help these
organizations in generating higher margins by increasing sales and to
retain their customers. SWOT analysis of Warana Bazaar and Warana
Bank i.e. the strengths, weaknesses, opportunities and threats are carried
out also showing their future perspectives. A customer response towards
the Warana Bazaar is studied to know the level of satisfaction of
customers.
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INTRODUCTION TO WARANA CO-OPERATIVE COMPLEX
Shree Warana Co-operative sugar factory was founded in the year 1956.
Warana Co-operative sugar factory has best proved many times among all
Co-operative sugar factories in the country. It has proved to be a nucleus
for the multi-faceted development of the region and for bringing about the
upliftment of the masses. In other words, we can say that without knowing
the definition of marketing (creation and delivery of standard of living) Late
Sahakarmaharshi Tatyasaheb Kore has done such a Herculean task
within a short span of 60 years.
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Warana Co-operative Sugar factory is the mother institute of all the
industrial and Co-operative units like Warana dairy, Co-operative bank,
Co-operative bazaar as well as educational units like School, ITI, College,
Engineering College, Military School, Pharmacy College and Cultural units
like Warana children’s orchestra and social units like Shree Warana
Bhagini Mandal, Warana Mahila Credit Society, Lijjat Papad Centre etc.
WARANA-
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• A successful name in the sugar lobby;
• A successful name in the education field;
• A successful name in the banking field;
• A successful name in the consumer services; industries; and
• A successful name by itself!
All this did not happen by chance or through any sort of magic. An
incredible man set on an arduous mission with a singular dream of
achieving all these incredible things. The man who sacrificed his joys,
happiness and stood bold, to do the best. This man like a sprint achieved
the success in all the fields. His words were Godly words to his followers.
With an undaunted strong belief along with his team when he struck, the
whole barren valley that was filled with dacoits and turned it into a
prosperous and polite land.
Who was this incredible man? Who was this motivator? Who was this
sprint? He was one and only one Late Vishwanath Kore alias Tatyasaheb
Kore.
But young Vishwanath did not flinch an inch. Being the eldest in his family
he took all the responsibilities on his shoulder and through his hard work
he brought up the whole family through difficult times. By entering the local
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village co-operative society in 1935 he started his social service. He
actively participated in Quit India Movement of 1942. He was actively
associated with underground movement of Late "Yashwantrao.B. Chavan,
1st Former Dy. Prime Minister of India. Due to his social services he was
unanimously elected as President of Kodoli Municipality in 1940.
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democratic setup wherein the members actively participate, give their
valuable suggestions, the sub committees of the board representing the
particular village and members aspirations coupled with the need based
services offered by all the co-operatives institutions in the complex is the
main factor for the member empowerment.
3. Small farmers and landless people are made to involve in the dairy
and allied activities of Warana dairy helping to attain self
sufficiency. Members’ active involvement in extension activities,
production of quality milk is laudable.
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4. Provision of wide variety of choices of consumer products at
reasonable prices much below the MRP including member
attractive deposit schemes, sales promotion schemes and member
friendly activities like haldi-kumkum ceremony, festival rebates
added with courteous services at Warana Bazaar has benefited the
consumer members to enhance the sense of belongingness and
participation in purchasing, forwarding suggestions and member
related activities.
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Chapter I
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1.1 Profile of Co-operatives in Indian Retail Industry:
Retailing is the largest industry of the world. During the last five years,
there has been a lot of consolidation and concentration in the field of
retailing so much so that in all the developed countries the top five
retailers control more than 60% of the food retailing. Cooperatives have
also been contributing significantly to retail businesses in the country.
Consumer cooperatives are retail firms owned by their respective
customer members. In such cooperative arrangements, groups of
consumers, invest in the cooperative, receive stock, certificates, elect
officers, manage operations and share profits or savings that accrue.
Consumer cooperatives came into existence with the purpose of operating
stores as well or better than traditional retailers, of getting control over
prices, of saving money by substituting their own labour or getting access
to healthful, environmentally safe plots, not available from traditional
stores. The consumer cooperatives have been playing an important role in
the distribution of various items of essential consumer goods both in the
urban as well as rural areas. In India consumer cooperatives had confined
their retail business to small shops till 1965. Thereafter, supermarkets and
departmental stores have come up in different parts of the country with
governmental assistance.
But in the wake of liberalization and opening up of modern stores by
private groups in the urban areas, the business of consumer cooperatives
have been adversely affected due to poor infrastructure and absence of
professional and modern systems of management. But, by and large the
credibility of institution still exists on account of quality and good
measurement standards where the cooperatives should not allow a
chance to others and make all efforts to retain this faith with the members.
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The retail market size of India is estimated to be around $180 billion.
Retailing provides jobs to almost 15 percent of employable Indian adults
and it is perhaps the largest contributor to India’s GDP. But the flip side of
the coin is; the average size of each of the retail outlets in India is only 50
sq. feet and though a large employer, the industry is much unorganized,
fragmented and with a rural bias.
Vision 2010:
The past 2-3 years have seen a number of developments in the retailing
business in India. The entry of corporate houses like RPG, Tatas, Piramals
and Reliance has increased the capital availability in the market. Bigger
players are in a position to take advantage of their sizes in dealing with the
manufacturers. Despite a slowdown in the economy customer queues at
the stores are not decreasing. Retail sector is bound to grow in the coming
years. But how much and in what direction are the questions that need to
be evaluated.
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1.2 Company Profile:
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achieving heights of success with yearly turnover of Rs. 82 cores,
shouldered by 555 employees and Member’s strength of 10110 out of
them 78% are women members which is the special feature of this unit.
Warana Bazaar has two big department stores and 50 branches. Daily
turnover of Warana bazaar is more than Rs. 30 Lakhs and the society is in
surplus since beginning.
Warana co-operative complex has a chain of interlinked units
facilitated for the people in its command area to earn livelihood. The
people had to often rush to Kolhapur or Sangli to obtain their daily needs
and this resulted in waste of time, money, and energy. Sugar factory was
giving a serious thought to the idea of starting a consumer store at
Warananagar for meeting the daily requirements under one roof at fair and
reasonable price.
At that time there was risk involved in such a venture. Consultancy
and promotional cell of N.C.C.F. Ltd, New Delhi and I.L.O. experts were
searching for some location in rural part of the country for starting
Departmental Cooperative store and successfully operate it. Then the ILO
experts from Canada and Philippines visited Warananagar to examine the
location and in depth study of the area. After that they resolved to start the
first departmental store of the country.
The Warana cooperative sugar factory sponsored for the
consumers store. Warana Bazaar, the first of its kind in rural India. Shree
Warana Vibhag Sahakari Grahak Mandal Ltd. Established and registered
on August 7th 1976 and the Cooperative Developmental Store, Warana
Bazaar started on April 2nd 1978 with the assistance of the consultancy
and promotional cell if the N.C.C.F. Ltd. New Delhi.
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Reformulated Principles of Cooperation (Accepted By I.C.A):
TABLE NO: 1
Development of Warana Bazaar
Sr. No Year Members Sales in Lakhs Growth %
1 1979-1980 1471 147 --
2 1984-1985 3068 470 26.4
3 1990-1991 4863 1365 27.1
4 1994-1995 8656 2528 24.0
5 1999-2000 9776 4155 10.4
6 2000-2001 9776 4413 6.20
7 2001-2002 9779 4636 5.04
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8 2002-2003 9779 4721 1.84
9 2004-2005 9795 6144 20.30
10 2005-2006 9987 6886 12.00
11 2006-2007 10103 7999 16.00
12 2007-2008 10110 8167 2.09
Source: Annual Report
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Organization Chart:
Figure: 1
General Body
Board of Directors
Chairman
Vice Chairman
General Manager
Section
Clerks In-charge
Assistant
and helpers
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Board of Directors:
The board of directors handles the management carefully.
1. Chairman 01
2. Vice Chairman 01
3. Directors
• Male 05
• Female 09
4. Employees representative 02
5. General Manager 01
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Board of Directors:
TABLE NO: 2
Board of Directors
2002-03 to 2007-08
Name Designation
Smt. Shobhatai V. Kore Chairperson
Mr. Nemgonda A. Patil Vice Chairperson
Smt. Lilavati D. Kore Director
Mr. Vijaysinha G. Jadhav Director
Mr. Laxman T. Salunkhe Director
Mr. Ganpati S. Shete Director
Mr. Subhash A. Desai Director
Mr. Vishwanath T. Patil Director
Mrs. Putalabai P. Gaikwad Director
Mrs. Ashwini A. Patil Director
Mrs. Babutai R. Mahapure Director
Mrs. Sharada B. Mulik Director
Mrs. Sajakka P. Shid Director
Mrs. Jayashri U. Kulkarni Director
Mrs. Suvarnadevi L. Patil Director
Mrs. Shila R. Chougule Director
Mr. Dayanand S. Utale Director
Mr. Rajendra V. Powar Director
Mr. Sharad A. Mahajan Gen. Manager, Ex. Officio
Secretary
Mr. Vijay S. Kesarkar Consultant
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Area of Operation:
TABLE NO: 3
Area Of Operation
Sr. No District Tahsil No of Villages
1. Kolhapur Panhala 22
Hatkanangale 31
Karveer 6
Shirol 3
Gadhinglaj 1
Shahuwadi 3
Bhudargad 1
Ajara 2
2. Sangli Shirala 7
Walwa 27
Miraj 4
Total 107
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iii. Real and effective use of ICA co-operative 7 principles.
iv. No political interference but “one for all & all for one” working
culture.
v. Dedicated and devoted staff, In house consumer co-operative
training centre approved by Shivaji University, Kolhapur and
NABARD.
vi. Professional management:-
• Per man per day sale - to avoid over staffing
• Per square feet sale - Space utilization
• Stock turn Rate-Should be more than 15 times
• Break even point should be achieved by each unit.
• Percentage of expenses on employees should be less than 55 % of
Gross Profit.
• Purchasing from the place of origin / manufacturer
• Purchase pilot system (for minimum inventory)
• Transparency in Business
• Deposits from members / non members.
TABLE NO: 4
Activities for Members
Sr. No Description
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1 8% rebate on the purchase of festival goods at the time of Dipawali.
2 8% rebate on the purchase of festival goods at the time of Gudhi
Padva.
3 10% cash rebate coupons for use throughout the year. Total 26%
on their investment in shares in the society. (for a class members)
4 Haldi-Kumkum Ceremony for lady members at the time of Makar
Sankrant.
5 Purchase Rebate to customers 0.5%
6 “Pak kala ”competition for lady members
7 “Ashi bhesal Ashi chalakhi.Ashi Banava Banavi ”- Exhibition
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Benefits to staff besides salary:
TABLE NO: 5
Benefits to staff
Sr. No Description %
1 Provident Fund 12.0
2 Bonus 25.0
3 Incentive 12.5
4 House Rent Allowance 05.0
5 Pension Scheme 05.0
Total 59.5
• 34 days leave.
a. Barcode system.
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e. Consumers meeting every year.
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Consultancy:
TABLE NO: 6
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3. Sales Promotion Scheme:
4. Best Quality:
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7. To make logistics and stock management efficient and best by
which maximum sales is obtained by keeping minimum stock level.
Proper care is taken of the goods which are not sold for longer time
for the expiry date.
10. The fluctuating rates which are provided by the head office to all
branches are conveyed to the customers to improve the image of
Bazaar which will finally improve the overall sales.
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11. Cleanliness:
13. Display:
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Competitors:
Considering the Warana Bazaar there is no such retail chain as their
competitors but the private Kirana stores act as competitors at initial
stages in the areas where the branch of Warana Bazaar is established.
Initially when the branches were established at Kameri and Danoli
villages, it was seen that the per day sales of the branches was
Rs.10000/- to Rs. 15000/- but now the average per day sales has reached
up to Rs. 40000/-.
Franchisees:
Table No: 7
Daily
Sr. Date of
Warana Bazaar Franchisee Average
No Commencement
Sales (Rs.)
1 Takawade Dist: Kolhapur 01-10-2005 4000
2 Tung Dist: Sangli 03-04-2006 13000
3 Dudgaon Dist: Sangli 24-09-2006 10000
4 Rukadi Dist: Kolhapur 08-10-2006 11000
5 Jotiba Dist: Kolhapur 14-10-2006 16000
6 Herle Dist: Kolhapur 24-01-2006 6000
7 Kasabe Digraj Dist: Sangli 17-03-2007 12000
8 Nandre Dist: Sangli 19-04-2007 11500
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1.3 Profile of Co-operative Banks in Indian Banking Industry:
On the other hand the Private Sector Banks in India are witnessing
immense progress. They are leaders in Internet banking, mobile banking,
phone banking, ATMs. On the other hand the Public Sector Banks are still
facing the problem of unhappy employees. There has been a decrease of
20 percent in the employee strength of the private sector in the wake of
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the Voluntary Retirement Schemes (VRS). As far as foreign banks are
concerned they are likely to succeed in India. Currently, India has 88
Scheduled Commercial Banks (SCBs), 27 public sector banks (that is with
the Government of India holding a stake), 31 private banks (these do not
have government stake; they may be publicly listed and traded on stock
exchanges) and 38 foreign banks. They have a combined network of over
53,000 branches and 17,000 ATMs. According to a report by ICRA
Limited, a rating agency, the public sector banks hold over 75 percent of
total assets of the banking industry, with the private and foreign banks
holding 18.2% and 6.5% respectively.
The Co operative banks in India started functioning almost 100 years ago.
The Cooperative bank is an important constituent of the Indian Financial
System. They are setup to provide easy loans to farmers or other persons
to set up his business. Though the co operative movement originated in
the West, but the importance of such banks have assumed in India is
rarely paralleled anywhere else in the world. The cooperative banks in
India play an important role even today in rural financing. The businesses
of cooperative bank in the urban areas also have increased phenomenally
in recent years due to the sharp increase in the number of primary co-
operative banks. Co operative Banks in India are registered under the Co-
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operative Societies Act. The cooperative bank is also regulated by the
RBI. They are governed by the Banking Regulations Act 1949 and
Banking Laws (Co-operative Societies) Act, 1965.
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1.4 Profile of Warana Bank:
History:
Late after independence, there were many challenges before the country.
Out of those were poverty, illiteracy, unhealthiness, etc. There was a
requirement for the development in areas of agriculture industry through
which the challenges could be overcomed. During those days the Warana
Valley region was situated in the hilly areas where irrigation was the major
problem and the farmers had to follow dryland cultivation. There were no
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options for the development of the people, which lead to arise of loots,
dacoits and robberies in the Warana Valley.
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The development of co-operative bank in rural area, its financial status,
and management was seen by Reserve Bank of India. Then RBI under
Banking Regulation Act, 1949, Rule No. 56 (O) gave Banking License to
the bank on 21/11/1983. After that the bank has made a super fast growth
during last 37 years. Bank started 4 branches in Kolhapur district, 1
branch in Sangli district and 1 branch in the economic capital of India i.e.
Mumbai at Washi. At present there are 23 branches and 1 extension
counter and all are computerized. The bank provides maximum loans to
the rural artisans like the potter, cobbler, welder, etc to develop their small
businesses. Also it provides loans for the purchase of Truck, Tractors,
Rickshaw, and Vans.
The dreams dreamed by Shri. Tatyasaheb Kore to start the Warana co-
operative complex and with the same dreams keeping in mind and
working on it efficiently to make those dream true by the Chairman of
Warana Sahakari Bank, Mr. Nipunrao Kore and Hon. Vinayraoji Kore are
working wholeheartedly to fulfill those dreams of Shri. Tatyasaheb Kore.
The bank which took birth in the rural area and started its branches and
operations in urban areas i.e. Warana Sahakari Bank, Warananagar. The
development of sugarcane cultivator, farmers in the Warana Valley was
only due to the establishment of Warana Cooperative Sugar Factory. But it
was not the limit for Tatyasaheb Kore. He wanted the other people in the
unreached areas like small and marginal farmers, village artisans,
landless labourers, agricultural labourers, and backward class people to
be developed.
Today all economic transactions in Warana are through Warana Co-
operative Bank Ltd. To maintain the strong economy of the valley, the bank
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took shape in 1966. It is creating the banking mind in the rural population.
The bank is playing a pivotal role in the overall development of Warana
and the rural mass. It provides loans at subsidized interest rates for all
farmers, weaker section and the needy. The efficiency of the bank is
reflected on the latest statistical information like Rs. 67 crores of deposits
are accepted and around Rs. 50 crores loan has been lent. The bank is
aiming still high in the days to come. The bank even accepts NRI deposits.
Probably this is a unique bank where the branches are spreading from the
rural head office to city branches.
General Information:
Table No: 8
(Rupees in Lakhs.)
As on 31-03-2008
1. Shareholders 17782
2. Authorized Capital 1500.00
3. Paid up Share Capital 793.92
4. Total Reserves and Funds 2134.76
5. Deposits 32198.14
6. Deposits Accounts 134478
7. Advances 20123.75
8. Advances Account 18938
9. Working Capital 35897.14
1 Audit Class “A”
0.
1 Profit (31-03-2008) 117.40
1.
1 Dividend (31-03-2007) 10%
2.
Source: Annual Report
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Branches:
i. Main Branch, Warananagar.
ii. Laxmipuri, Kolhapur.
iii. Kini, Tal: Hatkanagale, Dist: Kolhapur.
iv. Herle, Tal: Hatkanagale, Dist: Kolhapur.
v. MIDC, Shiroli, Tal: Hatkanangale, Dist: Kolhapur.
vi. Ichalkaranji, Tal: Hatkanangale, Dist: Kolhapur.
vii. Bhavani Mandap, Kolhapur.
viii. Peth Vadgaon, Tal: Hatkanangale, Dist: Kolhapur.
ix. Jaysingpur, Tal: Shirol, Dist: Kolhapur.
x. Extension Counter, Warana College.
xi. Shiroli Pulachi, Tal: Hatkanangale.
xii. Bagal Chowk, Kolhapur.
xiii. Kodoli, Tal: Panhala, Dist: Kolhapur.
xiv. Pargaon, Tal: Hatkanangale.
xv. Aitawade Khurd, Tal: Walwa, Dist: Sangli.
xvi. Khochi, Tal: Hatkanangale, Dist: Kolhapur.
xvii. Shigaon, Tal: Walwa, Dist: Sangli.
xviii. Satave, Tal: Panhala, Dist: Kolhapur.
xix. Chikurde, Tal: Walwa, Dist: Sangli.
xx. Kale, Tal: Panhala, Dist: Kolhapur.
xxi. Vashi, Navi Mumbai.
xxii. Mangale, Tal; Shirala, Dist: Sangli.
xxiii. Market Yard, Sangli.
xxiv. Market Yard, Kolhapur.
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Awards won by Warana Sahakari Bank Ltd, Warananagar:
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customers in bank, the suggestions for the improvement and their
demands.
• Biometric system ATM – Thumb impression are used to withdraw cash
upto Rs. 30000/-.
• Electricity bill payment facility started.
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Report of the Statutory Auditors for the year 2007-08
We report that
1. We have obtained all the information and explanation which to the best
of our knowledge and belief were necessary for the purpose of Audit.
2. In our opinion proper books of accounts as required by the law have
been kept by the bank as far as appears from our examination of the
books.
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3. The Balance Sheet and Profit & Loss account dealt with by this report
are in agreement with the Books of Accounts.
4. In our opinion and to the best of our knowledge and according to the
explanation given to us, the books of accounts are in conformity with
the law.
a. In case of Balance Sheet of the state of affairs of the bank as at
31st March, 2008 and
b. In case of Profit and loss Account, of the profit for the year
ended on that date are in accordance with part ‘a’, ‘b’, & ‘c’ of
the Audit Report and show true and fair view.
c. After considering the working and functioning during the year
2007-08 the bank is allotted Audit Grade “A”.
Date: 25/09/2008
Place: Kolhapur.
S/d
Girish A. Samant
Partner
Mem. No. 104820
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Chapter II
The Project
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2.1 Title:
2.2 Objectives:
organizations.
Warana Bank.
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2.4 Advantages of the study:
in future and fight the battle of independence. This study highlights the
misinterpretations.
interest.
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Chapter III
Research Methodology
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3.1 Definition:-
According to John Best, “Research is a more systematic activity directed
towards discovery and the development of the organized body of
knowledge”.
Marketing Research is the systematic design, collection, analysis and
reporting of data and finding relevant to a specific marketing situation
facing the company. The marketing research process consist of five steps
such as defining the problems and research objectives, developing the
research plan, collecting the information, analyzing the information
presenting the findings.
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government. Technical and trade journals, books, magazines, news
papers, unpublished data also like reports, diaries, letters, trades
associates. Here in this study the researcher have used secondary
data means the data which have already been collected by
someone else and which have already been passed through the
statistical process. Here the researcher has used the secondary
data in the form of:-
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Chapter IV
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A. WARANA BAZAAR:
1) Members:
TABLE NO: 10
Manpower Involvement (31/03/2007):
Sr. No Manpower Male Female Total
1 Individual Members 2211 7892 10103
2 Board of Directors 9 10 19
3 Purchase Committee Members 2 4 6
4 Staff Committee Members 2 4 6
5 Branch Committee Members 5 2 7
6 Audit Committee Members 3 3 6
7 Recovery Committee Members 3 2 5
8 Franchisee Committee Members 4 3 7
Total Staff 389 121 510
TABLE NO: 11
Members
Year Male Female Total
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Figure: 2
From the above graph we can see that the number of members in 1993-
94 were 7500 and in 2007-08 were 10110. The faith of people on the
Warana Co-operative Complex and Tatyasaheb and his family was the
main reason for the increasing interest in Warana Bazaar by the members.
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2) Share Capital (31/03/2007):
TABLE NO: 12
Sr. No Members Rs. in Lakhs
1 Individual 53.85
2 Government 9.38
3 Warana co-op Sugar Factory 2.00
4 Other Institutions 0.26
65.49
TABLE NO: 13
Share Capital
Year Rs. in Lakhs
1993-94 35.24
1994-95 38.46
1995-96 41.50
1996-97 52.84
1997-98 57.90
1998-99 56.98
1999-00 56.79
2000-01 54.86
2001-02 54.67
2002-03 61.28
2003-04 62.5
2004-05 62.78
2005-06 66.02
2006-07 65.49
2007-08 63.75
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Figure: 3
From the above figure it can be seen that the share capital of Warana
Bazaar is continuously increasing from Rs. 35.24 lakhs in 1993-94 to Rs.
63.75 lakhs in 2007-08.
Also as on 31/03/2007 the individual share capital of Warana Bazaar was
Rs. 53.85 Lakhs and that of governments share was Rs. 9.38 Lakhs. The
share of co-operative sugar factory was Rs. 2.00 Lakhs.
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3) Working Results:
TABLE NO: 14
Sr. Particulars
2001-02
2004-05
2002-03
2003-04
2005-06
2006-07
No
From the above table it can be seen that the sales of Warana Bazaar is
growing continuously with the increase in net profit from the year 2001-02
to 2006-07. Warana Bazaar has got Audit Class “A” since beginning.
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Financial Assistance from the Government:
Furniture Subsidy
Godown Subsidy
Managerial Subsidy
Sr. No
Share Capital
Branches
From the above table we can see that the total amount of financial
assistance from government to different branches of Warana Bazaar for
different purposes like godown, furniture, etc. was Rs. 61.40 Lakhs from
which the amount refunded up to 31/03/2007 as per installment given was
Rs. 45.53 Lakhs.
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4) Total Sales:
TABLE NO: 16
Total Sales
Year Rs. in Crores
1993-94 20.39
1994-95 25.29
1995-96 28.44
1996-97 31.11
1997-98 32.64
1998-99 37.62
1999-00 41.56
2000-01 44.13
2001-02 46.36
2002-03 47.22
2003-04 51.07
2004-05 61.44
2005-06 68.86
2006-07 80.00
2007-08 81.67
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Figure: 4
From the above graph we can see that the amount of sales from the
Warana Bazaar including the two departmental stores and the other retail
outlets is continuously increasing from 1993 upto 2008. This is due to the
different features of Warana Bazaar which includes cheaper rates, quality
produce, easily available at doorsteps, different schemes and good after
sales service. Due to this the level of satisfaction of customers has been
increased from the services provided by Warana Bazaar. Due to this the
customer loyalty towards Warana Bazaar has been increased.
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6) Total Income:
TABLE NO: 17
Total Income:
Year Rs in Lakhs
1993-94 117.08
1994-95 137.94
1995-96 143
1996-97 179
1997-98 206
1998-99 252
1999-00 272
2000-01 294
2001-02 308.79
2002-03 335.17
2003-04 328.4
2004-05 352.58
2005-06 391.5
2006-07 425.24
2007-08 485.53
Figure: 5
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B. WARANA BANK:
1) Performance Highlights:
TABLE NO: 18
Performance Highlights
Amount in Lakhs
Particulars 2005-06 2006-07 2007-08
Paid up Share Capital 610.09 705.53 793.92
Total Reserves and Funds 1233.64 2002.61 2103.76
Total 1843.73 2708.14 2897.68
Working Capital 29253.71 30115.62 35897.14
CRAR 9.63% 11.60% 11.68%
Deposits 26671.08 26687.69 32198.14
Loans 16689.66 17726.54 20123.75
Investments 10137.33 9833.14 12314.32
Total Income 2675.54 2960.23 3205.28
Total Expenses 2584.30 2845.89 3056.88
Net Profit 91.24 114.34 148.40
Net NPA % 3.81% 3.15% 2.88%
Business per Employee 167.42 172.82 198.94
Profit per Employee 0.35 0.44 0.56
Audit Class “A” “A” “A”
Source: Annual Reports
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2) Loans Sanctioned:
TABLE NO: 19
Loans Sanctioned
Year Amount (in Lakhs)
2000 6682.43
2001 7762.56
2002 8050.21
2003 8538.67
2004 11379.46
2005 14714.89
2006 16689.66
2007 17726.54
2008 20123.75
Loans Sanctioned
Figure: 6
25000
20000
15000
Amount
10000
5000
0
2000 2001 2002 2003 2004 2005 2006 2007 2008
The loans sanctioned by Warana Bank are the result of the timely
repayment of the loans by the farmers. So the amount of loans
sanctioned is increasing year by year due to easy procedure and quick
recovery.
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3) Profit Earned:
TABLE NO: 20
Profit Earned
Year Amount (in Lakhs)
2001 052.52
2002 064.95
2003 081.69
2004 104.71
2005 071.12
2006 091.24
2007 114.34
2008 148.40
Figure: 7
From the above graph we can see that the profit level of Warana Bank is
continuously increasing year by year. In the year 2001 the profit earned
was Rs. 52.52 Lakhs and now the profit earned in the year 2008 is Rs.
148.40 Lakhs.
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4) Working Capital:
TABLE NO: 21
Working Capital
Year Amount (in Lakhs)
2000 10901.30
2001 12872.78
2002 14495.67
2003 15959.03
2004 19889.70
2005 24746.01
2006 29253.71
2007 30115.62
2008 35897.14
Figure: 8
The working capital requirement of Warana Bank is also increasing year
by year which results in the increasing level of profit.
5) Deposits:
TABLE NO: 22
Deposits
Year Amount (in Lakhs)
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2000 9453.52
2001 11366.69
2002 12559.86
2003 13808.51
2004 17254.71
2005 22262.09
2006 26671.08
2007 26687.69
2008 32198.14
Figure: 9 DEPOSITS
From the above graph it is clear that the deposits from the members are
gradually increasing year after year.
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Objective 1:
To study the role of leadership in starting up of Warana Bazaar
and Warana Bank and its progress.
Founder
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• He had very much attachment towards doing any work and he
struggled for the accomplishment of such a work.
• He had no political interest in any of the organization within the
complex.
• He had no personal interest during his work. He just worked for the
upliftment of the rural people.
• Each time he concentrated on the aspects like planning, organizing,
and coordination in any organization.
• Also he concentrated on the idea creativity and always he accepted
newer ideas from the professionals, friends and other people
regarding the developments in Warana Valley.
Sixty years back Warana was a barren land and has emerged on the
world map as a model for all-round development of the region through
continuous efforts of all concerned under the able leadership of late Shri.
Tatyasaheb Kore, a man with great vision and commitment towards the
upliftment of the poor. Shree Warana Co-operative sugar factory was
founded in the year 1956. Warana Co-operative sugar factory has the
best proved many times Co-operative sugar factory in the country. It has
proved to be a nucleus for the multi –faceted development of the region
and for bringing about the upliftment of the masses. In other words, we
can say that without knowing the definition of marketing (creation and
delivery of standard of living) late Tatyasaheb Kore has done such a
Herculean task within a short span of 60 years.
Sugarcane was the main crop cultivated by the farmers in the region of
Warana Valley. The farmers use to cultivate sugarcane for the purpose of
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production of jaggery, because there were no such techniques available
for the extraction of sugar from sugarcane in the surrounding areas. So
the farmers used to depend on the production of jaggery and sell it. The
farmers were not able to fetch appropriate price for jaggery which did not
cover their cost of production of sugarcane. Sometimes the farmers used
to burn the crop of sugarcane due to low market prices for jaggery. This
condition was seen by Shri. Tatyasaheb Kore. He thought that the farmers
should get higher prices for sugarcane and the cost of production should
be covered. An idea stuck in his mind to start a co-operative sugar factory
for the people. He got this idea to start the sugar factory from the Pravara
cooperative sugar factory of Pravaranagar. His plans were supported by
the Government at that time. He was helped by Former Dy. Prime Minister
Late Yashwantrao Chavan to convert his dreams in truth. There were
many problems during the establishment but Tatyasaheb didn’t stop his
work. He faced those problems firmly. Later on the people realized the
importance of work done by Tatyasaheb and then they went on with him to
carry forward and complete the task.
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Sugar Institute, Pune for its best technical efficiency in Southern region of
Maharashtra. The sugar factory has also bagged many prizes from the
National Federation of co-operative sugar factories Ltd., New Delhi.
Warana Co-operative Complex’s total growth is dependent on this sugar
factory. This is parent unit from which Warana is drawing inspiration and
enthusiasm for its overall growth. Every effort is being put to make the
sugar factory an ideal one. His dream was to bring the people in the 80
villages in and around Warana Valley above poverty level. To make
available the irrigation facilities, he started irrigation schemes. He forced
the government to construct dams and bunds over the Warana river.
Warana Bazaar:
The dream for starting the Warana Bazaar was dreamed by Tatyasaheb
Kore before 25 years. But he was not the person who only dreamed, but
he was on who brought the dreams into reality. For this he used to wait for
appropriate time to come and the appropriate person to be identified. He
had the powers and ability to start the consumer co-operative but he knew
the pros and cons. So he waited for 25 years. Luckily at that time there
was scheme of National Co-op. Consumers Federation Ltd. to start co-
operative consumer stores in the rural areas in India. The consultancy and
promotional cell of the federation identified Warananagar as the
appropriate place. Before starting any project in Warana Valley, it would be
pre planned. When he visited Italy and Japan for the purpose of visit to the
paper mills, he visited different shopping malls during his leisure time and
applied some ideas for the development of Warana Bazaar.
The dream of starting Warana Bazaar came into existence on 2nd April,
1978. At that time Shri. Tatyasaheb got an honest and reliable person for
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Warana Bazaar. He was Mr. Vijay Kesarkar. He was the first General
Manager of Warana Bazaar. The aim to start Warana Bazaar was that, the
people in the Warana Co-operative Complex should get the essential
goods at reasonable rate and better quality at one place. The Warana
Bazaar was started on three major principles i.e. quality material, assured
weight and minimum price. The main objective to start the store was to
make available the essential goods at the doorsteps to the members,
farmers and workers working in the nearby areas like dairy, poultry, sugar
factory, etc. The Warana Bazaar branches were helpful in the distribution
of the sugar to members at the rate of Rs. 2/- per kg upto 7 kg per
member per month. It saved much time and energy of farmers to go to the
factory and get sugar. Tatyasaheb expected that every common man
should remain satisfied. There was much opposition of the merchants and
traders during the establishment. Merchants and traders used to divert the
minds of people by saying that it was impossible to start up such a kind of
Bazaar. But still he managed the people and he was successful in
attracting the people towards Warana Bazaar.
Warana Dairy:
With the sole intention of supplementing the income of zealous farmers a
great idea of dairy farming was put forth in the minds of enthusiastic team.
This resulted in the birth of the Warana Dairy, in 1968. This white
revolution has spread to all other 78 surrounding villages and added
revenue of Rs. 150 crores per annum. The aim of starting the Warana
Dairy was that, Tatyasaheb thought that there should be a secondary
business of the farmer which would support the agriculture business. So
the farmers were supplied with cattle initially and they were helped to
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maintain these cattle for their feeding and other day to day activities like
vaccination, etc.
The dairy plant has a capacity to handle more than 300,000 litres of milk
of which 100,000 litres can be converted into milk products. A clean and
efficient management of dairy brought the proud products of Warana like
Warana pasteurised Milk, Milk Powder, Ghee, Butter,
Shrikhand, Amrakhand, Lassi, Cheese, and Strawberry Desert etc. These
products once tasted chase the taster. The dairy has made its strides all
the way.
The turnover for the year 1997-98 was Rs. 138 Crores. By selling 2035
tonnes of Shrikhand in the year 1998, Warana reached a new record of
maximum selling of Shrikhand in India. For its qualitative and quantitative
excellent performance dairy has acquired an ISO 9002 Certification in
record time of three months.
M/S. Cadbury India Ltd. has joined hands with Warana Dairy and started
production of Bournvita, Drinking chocolate and Cocoa Powder. "Warana
Stymena" - a malted milk product has bagged a mammoth order of 550
metric tonnes from the Indian Army. Even the 60% of total production of
the Cadbury India Ltd.'s Bournvita is produced from Warana Dairy. This
simply reflects the quality and efficiency of the dairy. Warana Dairy has
won many awards for its quality products and efficiency. The dairy, in
future, has ambitious plans to venture into products like branded cheese,
pasteurised butter, beverages and ice creams. This will surely bring many
credentials and laurels to Warana.
Warana Cattle-feed division is producing the quality cattle feed, which is
supplied to the farmers for their cows and buffaloes, at subsidized prices.
• Lassi: "Warana lassi" The all season drinks its most popular drink from
Warana.
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• Shrikhand: Largest manufacturer & seller of Shrikhand in four flavors
Badam Pista, keshar, mango & Elachi.
• Butter: Salted butter, white butter & yellow butter are the best products.
• Milk: Milk & milk products from India like milk powder, cheese, paneer,
ghee, butter, and lassi.
Warana Bank:
The bank which took birth in the rural area and started its branches and
operations in urban areas i.e. Warana Sahakari Bank, Warananagar. The
aim of starting the Warana Bank was to make available credit for the
farmers for land development, purchasing machinery, seeds, pesticides,
fertilizers, etc in easy way. It was a major challenge for Shri. Tatyasaheb to
gather the capital required to start the bank. He gathered the amount of
Rs. 1 Lakh and to be paid to the government to register the bank within 4
days. The member’s along with Tatyasaheb collected the amount and paid
it to government and got the bank registered within 4 days. The
development of sugarcane cultivator, farmers in the Warana Valley was
only due to the establishment of Warana Cooperative Sugar Factory. But it
was not the limit for Tatyasaheb Kore. He wanted the other people in the
unreached areas like small and marginal farmers, village artisans,
landless labourers, agricultural labourers, and backward class people to
be developed. Today all economic transactions in Warana are through
Warana Co-operative Bank Ltd. To maintain the strong economy of the
valley, the bank took shape in 1966. It is creating the banking mind in the
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rural population. The bank is playing a pivotal role in the overall
development of Warana and the rural mass. It provides loans at
subsidized interest rates for all farmers, weaker section and the needy.
The efficiency of the bank is reflected on the latest statistical information
like Rs. 67 Crores of deposits are accepted and around Rs. 50 crores loan
has been lent. The bank is aiming still high in the days to come. The bank
even accepts NRI deposits. Probably this is a unique bank where the
branches are spreading from the rural head office to city branches.
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SHREE WARANA VIDYALAYA
A model for Gurukul System. Shree Warana Vidyalaya, which is a
residential school from 5th to 10th standard, has attracted several people
for its unique educational system. Getting the admission at the residential
school is becoming a prestigious issue, which speaks the standard of the
school.
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TATYASAHEB KORE INDUSTRIAL TRAINING INSTITUTE
Quenching the thirst of the technical mass. An industrial training institute
[I.T.I.] was established with the sole intention of imparting the technical
education to the rural youth who have passed 10th standard. It is offering
training to the students in the field of Welding, fitting, electrical and sheet
metal. After the completion of the course the practical training is also given
to the students in Training Cum Production Centre [T.C.P.C.]. Soon it is
planning to start Machinist and Turner courses.
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Computer Engineering, Information Technology and Biotechnology
engineering disciplines to its wings. And also planned to start post
graduation course in Civil Engineering.
Every member in the family should be literate and educated was the
dream of Shri. Tatyasaheb Kore. So he established educational complex.
Today the Warana Educational Complex is considered one of the top
educational complexes.
Warana Poultry:
Every farmer's family should have small poultry, which can supplement the
additional income. This was the dream of Late Shree Tatyasaheb Kore
and he advanced to achieve the same. The result is that today around 500
poultry units are working. Central poultry unit was set up to provide layer
birds, feed, veterinary facilities and marketing of egg. The farmers were
given training in scientific rearing of birds, which help them to maintain
their own poultry unit. Today Warana is successfully producing more than
13.2 million eggs per annum.
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which shows that they are well on their way to become a leader. They
believe that there is opportunity for growth by improving the relationship
with the employees, farmers, and all others who are directly or indirectly
related to Warana Co-operative complex. Also the leaders they like to
learn newer things and try to search for newer opportunities.
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Objective 2:
To identify the competitive advantages of Warana Bazaar and
Warana Bank Vis a Vis the other retail outlets and the banks.
These include:
• Providing products at low cost
• Differentiating features
• Serving unique needs
• Expertise
• Resource strengths
• Capabilities to do new things
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Competitive advantages give a company an edge over its rivals and an
ability to generate greater value for the firm and its shareholders. The
more sustainable the competitive advantage, the more difficult it is for
competitors to neutralize the advantage.
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producers or processors. This direct procurement from industries
minimizes the cost of goods due to shortening the marketing
channel and reducing the middlemen’s commission.
• Also the supply chain of Warana Bazaar is very efficient by which
the goods are made available for the customers as per their needs
at right time, in right quantity and at right place with best quality.
• The forecasting of demand for the goods is carried out taking into
consideration different factors like seasons, festivals, previous
years demand, etc so that the inventory level to be maintained for
right kind of goods and which can be made available to the
customers.
• The products offered by Warana Bazaar at its two departmental
stores and other branches and franchisees is same all over as per
the price list generated by the head office.
• The other characteristic of Warana Bazaar is that, when there is
rise in the price for the goods in the market, the increase in the
price level of the goods is not immediately informed to the farmers
and the sale of the goods is carried on as per the previous rates but
when there is price fall in the market for the goods, immediately the
farmers are informed of the price fall and they are sold goods at the
lower or reduced prices. This is the strategy used by Warana
Bazaar to retain the existing customers and attracting new
customers.
• Also some of the goods like edible oil are private labeled and sold
by the name of Warana Bazaar.
• Most of the procurement of the foodgrains is done from the farmers,
so quality material is obtained.
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• As far as the differentiations based on better services are
considered the services provided by Warana Bazaar to their
customers is best. Each and every customer is welcomed at the
entrance of the Bazaar. Due to this respect towards the customer is
shown and the proverb “Atithi Devo Bhava” which means
“Customer is God” is proved. Every customer is treated friendly.
They create a feeling in the mind of the customer that the Bazaar is
for their service and they have given a chance to the Bazaar to
provide them service.
• Queries and problems of customers are solved by providing best
services; the customers are guided by the staff during the
purchase.
• The after sales service of Warana Bank is also best. There are no
such complaints registered yet regarding the after sales service.
• Home delivery services are also provided by Warana Bazaar.
• Credit Facility for the members of Warana Co-operative Complex.
• Different schemes are launched by Warana Bazaar during festive
seasons like Diwali, Dassera, and Akshay Tritiya, for bulk
purchases.
• Goods are provided at discount rates or discount coupons are
given to the customers on purchase of goods worth Rs. 250/-.
• Exhibitions of different cereals and pulses is arranged in the
complex like “Tandul Mahotsav”, “Gul Mahotsav”, “Dal
Mahotsav”, etc. which increases the overall sales in these
exhibitions.
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• The customers are also made aware of the fake and spurious
goods in the market by arranging the awareness programmes like
“Ashihi Bhesal Ashihi Chalakhi”.
• The customers are provided goods in the packaging suitable for
them i.e. 250g, 500, 1 kg, 5 kg, etc.
• The Warana Bazaar brand itself shows the quality goods at
cheaper rates.
• Captured majority of market share in rural areas.
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problems of customers in bank, the suggestions for the
improvement and their demands.
• Biometric system ATM – Thumb impression are used to withdraw
cash upto Rs. 30000/-.
• Electricity bill payment facility started.
• Captured majority of market share in rural areas.
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Objective 3:
To provide a SWOT analysis of the functioning of Warana
Bazaar and Warana Bank besides, a future perspective of the
same.
Strengths:
• The Warana Co-operative Complex is clustering together itself. It is
the strength of Warana Bazaar.
• The Warana Co-operative Sugar Factory which is the mother
institute of all other co-operatives is also the strength and backbone
of the Warana Bazaar.
• The cooperation of Management Body i.e. Chairman, Vice-
Chairman and Directors of Warana Bazaar.
• The competitive prices of products of Warana Bazaar as compared
to the rivals.
• Experienced personnels in each and every department.
• Low operating cost of the organization including overhead capital
expenses.
• Warana Bazaar pattern has become a highly developed pattern
which is employed in various other co-operative bazaars.
• Brand image in the community.
• Loyal customers.
• Strong and well built relations with different producer organizations.
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• Highly experienced and visionary management body and
management professionals i.e. General Manager, Purchase
Manager, Accounts Manager, Sales Manager, etc.
• Well designed and structured marketing channel.
• Well defined organizational setup. Authorities and responsibilities
are delegated to each and every individual at each level in the
organization.
• Marketing strategies are highly structured considering the rural
customer base and also changing with changing environment.
• The price and quality of the products in Warana Bazaar speak i.e.
the word of mouth publicity.
• No political involvement in the operations i.e. the authorities are
delegated to the respective organizational heads in the co-
operative complex i.e. General Manager in Warana Bazaar so that
there should be efficiency in the working of organization.
• Professionalism in serving the people at large.
• Captured majority of market share in the rural areas within the area
of operation. If the bazaar plans to start a branch at any place, it is
just a job of 3 days for the management.
• Well developed network of 40 branches and 6 franchisees.
• Continuous knowledge upgradation of managerial personnels by
exposing them to different seminars and visits i.e. continuous
learning.
• Proper control over maintaining the inventory level and the bazaar
is trying to maintain zero inventory level.
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• Vilasrao Kore Consumer Co-operative Training Centre for training
the employees.
• Timely payment for goods procured which maintains good
relationship with the producers or the suppliers.
Weaknesses:
• Training of manpower available in rural areas has become a
rigorous job (increasing their IQ level, training for sales, etc.)
because the consumer demands for different services are
increasing.
• The organization personnels are not accustomed to use the latest
technologies i.e. use of computers, internet by the professionals
(not more proficient due to heavy work schedule and coordination).
• Overstaffing in various departments.
• Under communication of branch managers with the head office i.e.
communication between the branch manager and the head office
is lacking for some sort of requirements or orders.
• Less devotion towards work of different personnels in the
organization.
Opportunities:
• Demand for Warana Bazaar branch at every outskirt of district and
also beyond district places.
• Developing the convenient shopping stores chain of retailing in
India.
• Increasing the number of products range.
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• Private labeling and its expansion is also an opportunity for Warana
Bazaar.
• It is seen that there is no automobile service station in the nearby
areas. Therefore it is an opportunity to start a service station in the
area.
• There is scope to keep perishable commodities in Warana Bazaar
like vegetables, fruits, etc. for selling.
Threats:
• Political changes in Warana Co-operative Sugar Factory, Warana
Dairy, etc which largely affects the development of Warana Bazaar.
• Big retail chains are planning to target the rural areas to start their
operations like Reliance Fresh, Tata Kisaan Sansar, Godrej Adhar,
etc. which may compete with Warana Bazaar.
• Private entrants may imitate the policies of Warana Bazaar to
attract the customers. This condition has been already started by
small retailers and they compete up to cut throat level in the festive
seasons.
• If there is entry of any private retail chain, and if they offer services
better than Warana Bazaar, then the customers may get diverted.
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The future of Warana Bazaar is very much bright in coming years.
Warana Bazaar has already created a brand image in the minds of
the people. The people have become very much familiar with
Warana Bazaar and have become loyal towards the bazaar.
Bazaar should make use of this advantage for the expansion of
Warana Bazaar i.e. the expansion of departmental stores in its own
infrastructure.
Strengths:
• Customer Loyalty.
• Image of Warana Bank in the Market.
• Captured majority of share in rural areas.
• Well developed infrastructure.
• Manpower availability.
• Highly visionary Management Body.
• Well developed network of branches.
• Continuous upgradation of knowledge of managerial personnel’s by
exposing them to different seminars, visits, etc.
Weaknesses:
• Repayment of loans is not achieved in time.
• No loans can be given over exposure norms.
• Efficiency of employees.
• Attrition rate.
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Opportunities:
• Core Banking.
• Internet Banking.
• Increasing number of Biometric Cash Dispensing Machines
(ATM’s).
• Expansion of the network of branches.
Threats:
• Restrictions from RBI for Co-operative Banks.
• Difference between Nationalized and Co-operative Banks.
• Observing the failure condition of the other co-operatives, the
farmer members are withdrawing their accounts.
• Investment in government securities is compulsory. But due to
recession the profit is in the direction to decrease. So it has
become a threat for the bank to invest in government securities.
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branches will be connected to this Data Centre. After observing the
results, the other branches will be connected later on.
b. The bank has started the Biometric Cash Dispenser (ATM) service in
Kolhapur and Warana areas in 3 branches. Warana Bank is the first
bank to give such type of service to the people in rural areas and the
bank is trying to give this service in maximum branches.
c. Observing the current economic status and thinking of the new
economy, there should be many changes made in the economy
regarding the banking sector. The coming years will be challenging
one for banks for which the banks should be ready to face those
challenges by using newer technologies, efficient use of available
manpower.
d. It has become a challenge for the bank in today’s competitive age to
keep up its position which it is at current stage i. e. “A” grade.
e. In future the bank is planning to open up new branches at Pune,
Satara, Bambavade and Miraj.
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Objective 4:
To know the response of customers towards the Warana
Bazaar.
TABLE NO: 23
Frequency Table for Population
Particulars Frequency Percentage
Male 38 63.33
Female 22 36.67
Total 60 100
Figure: 10
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TABLE NO: 24
Frequency Table for Age Group
Age Group Frequency Percentage
(Yrs.)
Below 20 0 0
20-30 18 30
30-40 25 41.66666667
Above 40 17 28.33333333
Total 60 100
Figure: 11
From the survey it was observed that out of 60 members, majority of the
customers i.e. about 42%, visiting Warana Bazaar were in the age group
between 30-40 years, 30% of the customers were of the age group
between 20-30 years and about 28% customers were of the age group
above 40 years.
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TABLE NO: 25
Qualification
Qualification Frequency Percentage
Illiterate 12 20
12th pass 35 58.33333333
Graduate 12 20
Post Graduate 1 1.666666667
Total 60 100
Figure: 12
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TABLE NO: 26
Monthly Expenses
Monthly Expenses Frequency Percentage
500 11 18.33333333
500-1000 20 33.33333333
1000-2000 25 41.66666667
2000-5000 4 6.666666667
Total 60 100
Figure: 13
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TABLE NO: 27
Benefits from Warana Bazaar
Benefits Frequency Percentage
Reasonable Rate 57 95
Good Quality 60 100
Variety Choices 59 98.33333333
Assured Weight 58 96.66666667
Credit Facility 1 1.666666667
At door step 55 91.66666667
Figure: 14
Surveying the customers for the benefits they get from the purchase from
Warana Bazaar it was observed that 100% of the customers were
benefited from the quality products they purchase, about 98% of
customers were benefited by getting variety of choices in purchase of
goods, 97% of customers were benefited by getting goods with assured
weight, 95% of customers were benefited by the reasonable rates of the
goods, 92% of customers were benefited by getting the goods at their
door step. While only 2% people were benefited by the credit facility
because the credit facility is available only for the members.
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TABLE NO: 28
Display of Goods
Particulars Frequency Percentage
Yes 56 93.3333333
To some extent 4 6.66666667
No 0 0
Total 60 100
Figure: 15
When the customers were surveyed for the display and arrangement of
goods in Warana Bazaar, 93% customers were satisfied with the display
and arrangement of goods in Warana Bazaar. About 7% customers were
satisfied to some extent with the display and arrangement of goods. There
was a suggestion for the display of ayurvedic medicines with the amount
to be consumed at a time and also the purpose for which it has to be
consumed. Also one customer suggested changing the outer showcase
displays as those were too old.
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TABLE NO: 29
Figure: 16
When the customers were surveyed for the product mix satisfaction they
get from Warana Bazaar, it was seen that about 97% of the customers
were satisfied with the product mix available in Warana Bazaar; only 3%
were satisfied to some extent.
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Chapter V
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Findings:
a. After studying the progress of Warana Co-operative Complex, it was
seen that the development just matched the development of South
Korea’s Lucky Gold Star Group which started its development with a
cosmetic factory which continued with development of plastic industry
and reached upto manufacture of satellite communications. Similarly
the development of Warana Co-operative Complex started with the
development of Warana Co-operative Sugar Factory and continued
with the development of other organizations such as Warana Dairy,
Warana Bank, Warana Bazaar, Warana Poultry, Warana Educational
Complex, etc. This was the vision of Shri. Tatyasaheb Kore to establish
such organizations and his role to convert these dreams into reality
was worthy.
b. After studying these organizations it was seen that the authorities and
responsibilities were delegated to the respective organizational heads
and without much political interference due to which any decisions
could be taken effectively and which could develop professionalism.
c. It was seen that the credit facility made available to the customers is
not in the level which it should be.
d. When the study of members was done on the basis of annual reports,
it was seen that the number of members drastically increased during
the year 1993 to 1995
e. The accounts department of both these organizations is working very
efficiently. Each and every branch has a separate auditor who audits
the accounts monthly due to which any defects in the accounts could
be identified.
f. The competitive advantages of Warana Bazaar and Warana Bank over
their rivals are such that those can generate higher sales with higher
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margin and they can retain the existing customers and also attract new
customers.
g. When the SWOT analysis of Warana Bazaar and Warana Bank was
performed it was seen that the strengths of both these organizations
were such that these strengths can be used to take the advantage of
the opportunities available and by taking the advantage of
opportunities the weaknesses of these organizations could be
overcomed. Also the strengths can be used to avoid the threats.
h. When the response of customers was taken towards the Warana
Bazaar, the overall response of customers regarding the services
provided by Warana Bazaar was positive and the customers were
satisfied with the product display and the product mix. Most of the
customers were loyal to the Warana Bazaar because they purchased
goods from bazaar since 10-15 years.
i. By studying the financial aspects of these organizations, it was seen
that these organizations are continuously growing as far as the sales
or income and profit level is concerned. The curve of development has
reached at a peak stage and also there are chances for future
development.
j. The use of mirrors to minimize thefts was very much interesting
concept which is applied in every branch.
k. There were a few complaints from the Agro Service Centre Department
regarding the services provided by them.
Conclusion:
Warana Bazaar and Warana Bank are functioning as envisioned by Shri.
Tatyasaheb Kore and it seems that the future generation of Shri.
Tatyasaheb Kore i.e. Shri Vinayraoji Kore and Nipunraoji Kore, both are
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managing these organizations very efficiently without much political
interference. Thus we can conclude that the future of Warana Bazaar and
Warana Bank is very much bright.
Recommendations:
Warana Bazaar:
1. After the study it was seen that the credit facility given to the
customers was not enough which has to be increased.
2. The area under the departmental stores should be increased to
avoid congestion during the purchase.
3. The exterior of the store should be changed so that the customers
will be attracted for the purchase.
4. In some branches number of employees should be increased to
give better services to the customers.
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5. The store should expand its product range and add newer
categories in it like furniture etc.
6. Bar code system should be immediately applied in different
branches to increase the efficiency of work.
7. The inventory level of branches should be checked time to time so
that the cost on inventory will be minimized.
8. The bazaar should plan for installing close circuit cameras in order
to minimize thefts in the bazaar.
9. The bazaar should pay attention to the Agro Service Centre where
there are few complaints of the customers regarding the services
provided by them to avoid negative publicity.
10. The interface between the producers and consumers should be
improved.
11. The credit facilities should be increased for the consumers
(members).
Warana Bank:
1. Warana Bank should increase the number of Biometric Cash
Dispensing Machines (ATM’s) as early as possible.
2. Warana Bank should use the funds for promoting more local
projects in the area.
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The Reference Matter:
Bibliography
1. Ray G L, Mondal Sagar; Research Methods in Social Sciences and
Extension Education, 1st edition, 1999, Kalyani Publishers, New
Delhi.
2. Kothari C.R; Research methodology, 3rd edition, 1997, Vikas
Publishing House Pvt. Ltd, New Delhi.
3. An autobiography of Shri. Tatyasaheb Kore. [Mi ek Karyakarta(in
Marathi), Vol. I and II].
4. Warana Bazaar, Silver Jubilee Year, 2003.
5. Datta Samar K (2005), “Bonhooghly Fishermen’s Cooperative
Society: Beginning of an Indian ‘Lucky Goldstar?”, Page Number 1.
6. Datta Samar K (2004), ‘My Journey through Cooperatives and
Beyond- In search of a Governance Structure for Stakeholder
Cooperation’, Paper presented to a Symposium on ‘Cooperative
Governance’ at Institute of Rural Management (IRMA), December,
2004.
7. Datta Samar K, Bhate Rucha, Nilakantan Rahul,
(2005), “Cooperative Reforms: Light at the end of the
tunnel?”
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Appendix:
Questionnaire:
Date:
1. Name :
2. Locality:
3. Phone No:
5. Qualification:
6. Occupation:
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10.Do you like to purchase goods by self-service system in Warana
Bazaar?
14.Are you satisfied with the staff and sales people in the Bazaar?
15.Are you satisfied with the after sales service of the Bazaar?
17.Does Warana Bazaars’ product mix satisfy your all needs with
respect to variety and price?
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