Government of Kerala vide GO (Rt)No.703/2011/Co-op: dt.31/12/2011 had accorded sanction to mobilize deposits through PCARDBanks. We have started Deposit Mobilization w.e.f.01/03/2012 by collecting deposits through the PCARD Banks, with an objective of attaining self-sufficiency in source of fund by collecting term deposits.The interest rate are fixed by the Registrar of Co-operative Societies from time to time . At present we are collecting deposits from members and institutions through 75 PCARDBanks. As per the Registrar of Co-operative Societies Letter No.CLT(3)/45927/2016 dated 28/06/2018 KSCARD Bank is not permitted to accept any kind of Deposit below one year period through our PCARDBanks.The deposit outstanding as on 31.03.2020came to Rs.331.60 crore which was reduced to 15.66% when compared to the previous year. During the year2019-20 Rs.82.23 crore were collected as deposit and Rs.143.83 crore were refunded.The present interest rate of interest asper Registrar of Co-operative Societies circular.No.45/2020 dated 21/05/2020.e. for the period of 1 year to 2years is 6.75% and above 2years 6.50% for individual depositors and 6.75% and 6.50% for institutional depositors respectively which came in to force w.e.f.25/05/2020. The additional interest rate of 0.50% to senior citizen is continuing. As per the decision of the Board of Directors,the bank has requested the Government to accord sanction for starting Deposit Mobilisation at PCARD bank level.

The 40th Deposit Mobilization campaign was organized from 01/01/2020 to 31/03/2020 by the Co-operative department with the objective of augmenting Deposit Mobilization in the Co-operative sector. The object behind the deposit mobilization campaign is” ‘’Sahakarana Nikshepam Keralabankinukaruthekuvan” with a total target of Rs.6000 crore, the rate of interest is based on the Registrar of Cooperative Societies Circular No.40/2019 dated 09/10/2019 asper which maximum interest rate is 7.75% (7.25+.50) .The KSCARD Bank is permitted to accept deposit for one year and above only. The President and the Managing Director of KSCARD Bank are the members of State level committee. The Government has allotted a target Rs. 10000 lakh for this year campaign. The total deposit collected and renewed during the campaign period comes to Rs.2674.76 lakh against the target of 10000 lakh which comes to 27% only. During the campaign period Rs.368.79 lakh were refunded. The total deposit outstanding as on 31/03/2020 comes to Rs.33160.07 lakh.Further KSCARDBank has paid Rs.34781116/- as special incentive to PCARD Banks on fixed Deposit collected for the during the period from 01/04/2019 to 31/03/2020.