The State Drafts Scheme was introduced by the Bank in 1971, to enable the Tamil Nadu State Apex Coop. Bank Ltd., Central Coop. Banks, Coop. Urban/ Town Banks and their Branches in the State to issue Demand Drafts on each other.
The Tamil Nadu State Apex Coop. Bank and its 45 Branches at Chennai City, 23 DCCBs and their 668 Branches, 99 Urban / Town Coop. Banks and their 60 Branches and TAICO Bank and its 27 branches 866 members scheme from as on 31.03.2003 and one PACB in our State, totaling 920 members were participating in the Scheme as on 31.3.2004 as against 859 as on 31.3.2003. The SDS operations of all the 23 DCCBs have been computerized. Due to continuous monitoring, delays in debits/ credits by the Bank could be minimized. Almost all the debits/ credits were put through at the Bank level within four days from the date of issue of demand drafts.
The demand drafts issued by Head Office of all the DCCBs are debited at TNSC Bank's level on the very next day itself. This has resulted in considerable reduction in the amounts locked up under "DD paid ex-advice account" at DCCB level which is a non-performing asset. Further, the DCCBs are doing daily reconciliation of SDS transactions through computer system, which has enabled them to reconcile their transactions then and there. In short, there has been remarkable improvement in the quality of operations in DCCBs due to computerization.
TNSC Bank can issue DDs on within Tamil Nadu.