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52 Table 15-Unit transaction costs, unit interest costs, and unit net margin of the regional rural banks and commercial banks, India, 1978 and 1980 Unit Unit Unit Transaction Costs' Interest Costs' Net Margin' Banks/Region 1978 1980 1978 1980 1978 1980 (percent) Commercial banks All India Regional rural banks 1.28 n.a. 2.79 na. 0.07 n.a. All India 1.70 1.55 1.72 2.32 0.03 0.18 Northern areas 2.14 1.57 1.68 2.27 -0.28 -0.06 Southern areas 1.65 1.52 1.97 2.35 0.23 0.32 Itster aleas 1.98 1.6.1 2.20 1.72 -0.11 0.20 Cential ateas 1.80 1.18 1.93 2.55 -0.03 0.12 Source: Vaide aod Sigh 1982. Notes: ji.a. is not available. Northerin aicas consist of15 i'gioial miialbanks in Rajasthan and I lanyana. Soitherin aieas consist of 10 Ir'gional mrral banks in Tamil Nadu, Karnataka, Kerala, and Andlha Piadesli. Eastein areas consist of 15 icgional tntal banks in the states of lihat. Orissa, West iengal. "'hilula.and .\ssaii. Cetitral areas consist of 10 regional iural banks in ltailPradeshi and Madhya lPradesh. 'Co iipulted as a lelcellttge of ill atssels p11us :ill liahililies. both1. 'Ihte saillpl RRIs had, oilaverlg, positive tlct illargills in the sotlilliti legioll il lolh vars,wiich was only tiuti iii 1980 in the eastern ailnd c(.eiltal ieojois. Thc itstilt for l"( iiortliit-li Iegion itay largely be aliribited to ihll f lthat R:ajasiliali, :ahighly droight-ipote seini-arid anldrid 1tigiolli, is illthidt ias aitill of the liortlllett tegiot. F:inilly, the itlit tiet nitl-gitl was liglhest ill thu solh. Primary AgriculturO!Cooperative Credit Societies (PACS), India Oie of the two IA(S stttdied is :itllifillticliolial; the other is inot (Desai, Gttpta, atld Singlh 1988). lor llw initltiflintiotal IACS, itit ttitisactioli costs tl lower, profitalbility is higher, ailt(i lul is nIo loin delinqiiency. Iarniets ttiidetr flew )iltiviw of il" ittitliftitctiolal PACS have largei iivest.iiietts; o titii-l allocatiioni of itsouti-ces; helter techllology; aid high.i piroduclii\ity, alws of titin, antidinciiCi,. This i tliiikible i-efitaliict iusilt.s [ollii iIltr ladtmiship iid lalg.r availability of loanable fills lot [attthv.ui 'l llaitlis illp0) (list il)itioi b)lisillt.sstes. Thcle two sclecitd riilat' cti'litsoc('elics fol(ll oillolt0 hO lit'u(etl of file saiiple illMlaljut, a hackwslsd faluka illSaatlkatlliia D)islricl of' (/t1jalalt. Both of Ihts, IA(S ;itu lcial'd ilill( sallit" aglochititliic ata with sittilar iit['Fastittctitt" failiics. O)t of tlituse I'.\CS is the, Atiyorkattnpa Gilottp Servict- Cooptiie S(ociety (AK iACS), estalished ille1)tliiay 1979. The ot+r, Ilie Mvdla (rolip Sivice Cooperali e Society (MI)
53 PACS) was established ill March 1959. AK PACS serves four villages, MI) PACS seven villages. Fach has a full-time paid secretal , who is assisted by a junior staff member. Ilowever, these personlel a;e siipervised by an elected umaiaging committee that is distinctly superior in the AK PACS. Both PACS arc vertically aligned with i te District C'-rltral Coo)erative Bank, which itself is a constituent of a state-lvel coop erative bank. Based on cTiteria taking into accotll the niultiinrclional role, lhe impact oi lh mlibels, and tilt, institution, the AK PACS was iore successful than ilhe MI) PACS. hle AK PACS reached a larger propotion of"rual liouiselolds (63 percent versus 56 percent fo ir einl.-ship, and ,18 versus 36 percelnt Ib borrowing inembersll). t had a larger share of deposits to loauiable resources (13 versiis 0 j)erl'celt); and a larger share-of loaiable res rices in ttrell l it cs (a debl-c'lity ratio of 88:1 -1 versus 78:22). It loaned a larger aciage ;111o01l11lwpiie iiber (Rs 9,237 versus Rs 2,535 in outstanding loans, and Rs 10,361 versus Rs 1,1;16 in new loans made), bot0h ilshol I-and long-te'rn loans (a ratio of 60:10 verss 78:22), and t higher sharc of' loans iii kind iii short-ternu loans (68 versus 6(t l)(( ('cnl). It had a laigel of (l&mnonfinancial operations (Rs 1,011 -versus Rs 618) nid higher c(mtiltration on Ilose opelations (such as illpill distiilrutioii), 17which provided greater rVViriie-
Page 1 and 2:
,AFOOD POLICY EVIEWl Institutional
Page 3 and 4:
FOOD POLICY REVIEW 1 Institutional
Page 5 and 6:
Chapter One Chapter Two Chapter Thr
Page 7 and 8:
15. Unit transaction costs, unit ir
Page 9 and 10:
47. Relative importance of intcecst
Page 11 and 12:
Foreword Thiis report introduces a
Page 13 and 14: 1 Summary This study analyzes two a
Page 15 and 16: 3 Six organizational principles for
Page 17 and 18: 2 Introduction Finance and Economic
Page 19 and 20: An obvious problem innate to an act
Page 21 and 22: 9 Selection of Theme and Issues for
Page 23 and 24: I1 TIhe issue of scale economies is
Page 25 and 26: 13 There is also a problem of indiv
Page 27 and 28: 15 Figure I-Share of borrowing of f
Page 29 and 30: 17 Figure 2-Share of'agricultural l
Page 31 and 32: 19 specific or economywile developm
Page 33 and 34: Table 1- Continued 21 Region, Count
Page 35 and 36: Table 2-Continued Government Nation
Page 37 and 38: 25 regional without higher or lower
Page 39 and 40: 27 Caribbean, compared with Asia. T
Page 41 and 42: Table 3 -Continued Proportion of Pe
Page 43 and 44: 31 LICs (including Bangladesh, Indi
Page 45 and 46: 33 Functional Structure of RFIs and
Page 47 and 48: 35 approximated from available lite
Page 49 and 50: Figure 3-Stylized organizational fr
Page 51 and 52: 5 Transaction Costs, Profitability,
Page 53 and 54: 411 or fiom new borrowers. Moreover
Page 55 and 56: 43 Table 6-Unit transaction costs o
Page 57 and 58: 45 tiotis largely by borrowing fi'o
Page 59 and 60: 47 Table 9 -Transaction costs of br
Page 61 and 62: 49 'T7heSonali Bank's unit uct marg
Page 63: Table 14-Estimated parameters of th
Page 67 and 68: 55 Table 16-Deposit growth rates of
Page 69 and 70: 57 rIIIIal Output (28 p)Celt) and o
Page 71 and 72: 59 Although APS loans were dominant
Page 73 and 74: Table 2 0-Pattern of loans advanced
Page 75 and 76: 63 Table 2 1- Unit profit and unit
Page 77 and 78: 65 resources are mainly channeled t
Page 79 and 80: 67 Table 25-Various costs, gross ma
Page 81 and 82: 69 BAAC also en1joyced sc.;le ,~ol
Page 83 and 84: 71 iuzividual farmers at the distri
Page 85 and 86: 73 Agriculture and Cooperatives 197
Page 87 and 88: 75 like the county and plimaly coop
Page 89 and 90: 77 Table 33-Transaction and financi
Page 91 and 92: 79 Table 3 6 -Structure of assets a
Page 93 and 94: Response of Rural Loan Demand to In
Page 95 and 96: 83 Table 3 9-Estimated multivariate
Page 97 and 98: 85 Table 40-Estimated multivariate
Page 99 and 100: 87 separate deteriminants of demand
Page 101 and 102: Table 4 1-Continued Type of Demand,
Page 103 and 104: Table 4 1-Confinued Type of Demand,
Page 105 and 106: Table 4 2 -Evidence on interest ela
Page 107 and 108: 7 Response of Supply of Rural Depos
Page 109 and 110: 97 Table 44-Estimated multivariate
Page 111 and 112: 99 Table 4 6-Relative importance of
Page 113 and 114: 101 I1e positivc respolse of supply
Page 115 and 116:
Table 48- Continued 103 eBased on t
Page 117 and 118:
Table 4 9 -Pattern of total rural s
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107 is substantial saving even in d
Page 121 and 122:
109 Table 52-Estimated multivariate
Page 123 and 124:
111 nient), and lastly, the inverse
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113 Table 54-Positive and negative
Page 127 and 128:
9 Flow of Funds of the Rural Financ
Page 129 and 130:
117 interest I'evellie and payment.
Page 131 and 132:
Table 5 5 -Continued 119 cin scenar
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10 Conclusions and Implications ase
Page 135 and 136:
123 differential increase in demand
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125 can be attained. Multifunctiona
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127 fully achieved. Had the institu
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129 so doing, improvements in verti
Page 143 and 144:
The standard error of The standard
Page 145 and 146:
Appendix 2 Reasons for Delinquency
Page 147 and 148:
Region/Country 135 Reaso.z Near Eas
Page 149 and 150:
References Abbott, J. C. 1 9 7 3a.
Page 151 and 152:
139 Aku, P. S. 1986. Lending to far
Page 153 and 154:
141 Caibbean Country Department II,
Page 155 and 156:
143 144. Princeton, N.J., U.S.A.: W
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145 1975. Agriculturalcredit in Asi
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__ 147 Gurley, J. G., and E. S. Sha
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149 G. Hunter and A. F. Bottrall, 5
Page 163 and 164:
151 Lee, T. Y., D. H. Kim, and D. W
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153 __ _. 1976. The new economics o
Page 167 and 168:
155 Olu, W. 1985. Formal credit and
Page 169 and 170:
__ 157 Rao, B. P. 1970. The economi
Page 171 and 172:
159 Singh, G., and S. R. Asokan. 19
Page 173 and 174:
-- 161 Verghese, S. K. 1983. tivfit
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