The Society uses the funds in lending to the members and investment as per the co- operative credit society Act/Rules/bylaws. Our lending will be in the shape of small loans aginst gold and property.

Yes, because the Government of India has framed the laws/rules to ensure the security and safety of deposits and Tirupati Balaji Co-op Creadit Society Ltd. strictly abides by the rules and regulations framed by the Central Government. The Maharashtra Co- operative Credit Societies Act, 1960, Restriction on loans -(1) A co-operative credit society, other than a co-operative bank, shall not make a loan to a member on the security of his share or on the security of a non-member. Restriction on borrowing - (1) A co-operative credit society may receive deposits, raise loans and receive grants from external sources to such extent and under such conditions as may be specified in the bylaws: Provided that the total amount of deposits and loans received during any financial year shall not exceed ten times of the sum of subscribed share capital and accumulated Reserves. we shall provide only secure loans against gold and property, hence the deposit shall be safe and secured.

As stated elsewhere the TBCCSL is registered under Maharashtra state co-operative societies act and rules. Society is not a personal institution owned by an individual but is a fully democratic organization managed by a Board Of Directors who are elected by the memebers of the society at the Annual General Meetings and the Board Of Directors also takes decisions in a collective manner with total transparency. The Department of Cooperatives constantly reviews the functioning of the society at regular intervals. Finance companies are usually owned by individuals and frame the so called policies according to the whims and fancies of the owners. The general members/depositors/Investors have no role to play. There are some possibilities of the absence of transparency. Members/Investors have virtually no knowledge of the affairs/legal provisions of N.B.F.Cs and the statutory liabilities of the N.B.F.Cs are also limited. Tirupati Balaji Co-op Creadit Society Ltd. is completely alive to its legal liabilities and answerable to its members througn its elected memebers of the subject matter of statutory audit and the Audited Accounts are submitted to the government of india for review and further action, annually.

We believe in the principle of encouraging saving habits amongst our members. In the present context when tendency to save is on the decline and the consumerism is on the high. We want to ensure the financial and social well being of our members as a moral responsibility towards the society. As a true nationalists we are convinced that higher the savings, Higher the investment better the GDP.

There are varieties of natural and financial reasons which help the society ot offering better Rate of Interest. A few of them are detailed below : (a) Income earned by the society on account of Interest on loans / advances granted to members which contributes a major part of society's income is exempt from income tax as per section 80p of Income Tax Act. Therefore the society is able to save huge amount which could have otherwise been paid as Tax. The Board of Directors of the society always felt that some portion of this shoud be passed on to the members by offering higher Rate of Intrest and this is what our corporate philosophy is. (b) Cash Reserve Ration : Banks and other financial institutions have to keep about 4 to 5 percent of their deposits in cash or with Reserve Bank of India as per RBI regulations. An amount so kept does not earn any intrest and reduces the bank's capacity of lending. While Tirupati Balaji Co-op Creadit Society Ltd. is exempt from this provision, we keep minimum cash in hand to meet the day to day requirements and therefore are in a position to lend more. (c) Statutory LIquidity Ration: Banks have to keep almost 25 to 30% of their deposits in different type of securities which earn them less intrest as compared to the Rate of Interest prevailing in the market. (d) The Tirupati Balaji Co-op Creadit Society Ltd. is exempt from maintaining cash reserve ration & stattutory liquidity ration. The Tirupati Balaji Co-op Creadit Society Ltd. has better opportunities of managing its funds and earning interest thereon which it is doing sincerely and passing on the benefits of such income to its memebers/ Investors by offering the best rate of Interexst.

All those investors/depositors who wish to make safe and securedinvestment along with earning better return/intrest on their deposits in the short term, medium term and long term. So all of you are WELCOME to Tirupati Balaji Family.