Ahmedabad District Cooperative Bank

Ahmedabad District Cooperative Bank
The Bank received 745.6 crore rupees in 5 days. Let's approximate the amount to 750 crores.

So the banks processed 750/5 = 150 crores daily

We do not know what was the major distribution of deposited amount?


NABARD states that 1.6 Lac deposit accounts were responsible for 750 crore deposit. So amount per deposit is 46,875 Rupees which is a low average. But this does not mean each account got a deposit of 46k. In Business Pareto principle applies

Simply put for many events roughly 80% of the effect comes from 20% of the component. So for a business 80% of the revenues come from 20% of the customers.

Thus 80% of 750 crore would roughly originate from 20% of 1.6 Lac accounts

So average deposit in top 20% account will be 1.9 Lacs per account.

 Reference links
https://economictimes.indiatimes.com/industry/banking/finance/banking/ahmedabad-district-cooperative-bank-collected-highest-amount-of-banned-notes-among-dccbs-rti-reply/articleshow/64680892.cms

http://www.adcbank.coop/images/pages/download/2014-15.pdf

Referred but not used
https://www.sbi.co.in/AR1415/PDF/SBI_AR_Unabridge-(English)%20%202015.pdf

Other people's interest

Some of my observations on our mistakes that prevent us from understanding others

Dismissing other people's interest as uninteresting
How often is it that we make a snap judgement on things other people may find interesting.
Somebody would say You like to solve Sudoku. What a boring life you live.
Boring to whom?

I don't know. I can't learn anything.

My Professor told us the following event in his life

He enrolled in Indian Statistical Institute which has the reputation of giving degree to single digit number of students every year as the course work is so tough and gruelling that most of the students drop out from the course. My professor also dropped the course due to stress. Burnt out, he returned to his home. His dad said nothing on his arrival. Few weeks passed, his dad asked him - "What do you plan to do next?"

He replied - "I don't know. I can't learn anything."
His dad replied - "If that had been true, you would still be in your mother's lap drinking milk from the bottle." got up and left.

In a few days my professor joined the class again and was one of the students to receive PhD from Indian Statistical Institute.

How to calculate loan amount using annual rate, number of months and EMI

Loan amount is calculated as follows

Loan amount =PV(rate,nper,pmt,[fv],[type])

The fv and type arguments are optional arguments in the function (indicated by the square brackets). The fv argument is the future value or cash balance that you want to have after making your last payment. If you omit the fv argument, Excel assumes a future value of zero (0).
The type argument indicates whether the payment is made at the beginning or end of the period: Enter 0 (or omit the type argument) when the payment is made at the end of the period, and use 1 when it is made at the beginning of the period.


rate has to be monthly rate. So if annual rate is 12% then give 12%/12 as rate

nper is number of monthly payments

pmt is the amount to be paid per month. It should be entered with minus sign to get positive value of loan amount.

Don't worry be happy and eat a Donut