Which was the first co-operative bank in India?

Abhyudaya Co-operative Bank Ltd is the first bank on the list which started its operations after India’s independence in 1964.

How many DCCBs are there in India?

Cooperatives in India – An Overview

Resource Base of Cooperative Banks (Position as on 31.03.1999)
DCCBs 7285 (11) 45609 (69)
PACS * 3329 (15) 5255 (24)
ST-Total 14232 (11) 76650 (61)
SCARDBs 2022 (15) 240 (2)

Who is the founder of Cooperative bank of India?

Sri T R Shamanna
The National Co-operative Bank Ltd., was founded in the year 1975 by late Sri T R Shamanna one of the prominent political figure and late Sri Y V Keshava Murthy a veteran co-operator.. The first promoters meeting was held on 8.12. 1974. The bank was registered under co-operative Societies Act 1959 on 14.4.

How many multi state cooperative bank in India?

There are 1,482 urban cooperative banks and 58 multi-state cooperative banks having about 8.6 crore depositors with total savings deposit of about Rs 4.85 lakh crore.

When did cooperative start in India?

INDIA. In India cooperation has its origin in the last quarter of 19th Century in attempts to provide relief to the farmers from the clutches of money lenders. The cooperative movement was introduced in India as a State policy and owes its inauguration to the enactment of the Cooperative Societies Act, 1904.

Who is the father of cooperative society in India?

Sir Frederic Nicholson was hailed as the pioneer of the cooperative movement in India, he noted.

When was co operative bank born in India?

They are regulated by the Reserve Bank of India under the Banking Regulation Act, 1949 and Banking Laws (Application to Cooperative Societies) Act, 1965. Anyonya Sahakari Mandali, established in 1889 in the province of Baroda, is the earliest known cooperative credit union in India.

Is DCC bank under RBI?

StCBs/DCCBs are registered under the provisions of State Cooperative Societies Act of the State concerned and are regulated by the Reserve Bank.

When was cooperative bank born?

The history of Indian cooperative banking started with the passing of Cooperative Societies Act in 1904. The objective of this Act was to establish cooperative credit societies “to encourage thrift, self-help and cooperation among agriculturists, artisans and persons of limited means.”

Which is the largest cooperative society in India?

IFFCO is the biggest cooperative in the world by turnover on GDP per capita.

Which cooperative bank is under RBI?

About Us

  • The Andaman and Nicobar State Co-operative Bank Ltd.
  • The Andhra Pradesh State Co-operative Bank Ltd.
  • The Arunachal Pradesh State co-operative Apex Bank Ltd.
  • The Assam Co-operative Apex Bank Ltd.
  • The Bihar State Co-operative Bank Ltd.
  • The Chandigarh State Co-operative Bank Ltd.

When was co-operative bank born in India?