The Burdwan Central Co-operative Bank Ltd., is one of the oldest District Central Co-operative Banks of our country. It was established on the 26th January, 1917 with a paid up share capital of just Rs. 8000/-. The Bank had at that time only 17 Primary Agriculture Credit Societies and 51 individuals as members. The then District Magistrate, Mr. P.H. Waddal, I.C.S. was the 1st Chairman of the Bank. The Bank started functioning at the Western Veranda of Zilla Parishad and later shifted to a room at the Burdwan Town Hall and thereafter to a portion of the District Magistrate Office. Bank’s own building in the present premises was constructed in 1934 and renovated in 1960. A new building has been constructed subsequently the foundation stone of which was laid on 16th. May 1987 and the building was inaugurated by HIS EXCELLENCY Dr. Sayed Nurul Hassan, the Governor of West Bengal on 16th April, 1990.
The basic object of the bank is to raise resources through public deposit and to utilize the same by issuing production and investment credit through member co-operative societies in the district. Small and marginal farmers including rural artisan, small businessmen and members of the Self-Help Groups are the target groups for whom the bank stands side by side; the efforts of the Government for employment generation is also supplemented. The bank is making untiring efforts for augmenting financial inclusion through its 38 (thirty-eight) branches and more than 500 PACSs which are also extended arms of the co-operative network. The surplus fund is judicially deployed in terms of existing rules and regulations.
The major areas covered by lending activities are providing short term production credit to its members in farming activities and non-farm activities along with providing term loan and working capital loan to small scale industries, business including handloom sector. Employment generation is supplemented by financing engineers and labour co-operative and different Government-sponsored schemes like B.S.K.P. providing consumption credit to employed and Self-employed person. House Building Loan to worthy customer including State Government employees is another sector which the bank has explored.
Initially set up to supplant indigenous sources of rural credit, particularly money lenders, today we mostly serve the needs of agriculture and allied activities, rural-based industries and trade and industry in urban centers.
The Bank is at present the largest Central Cooperative Bank in the eastern region. The name itself generates a lot of trust and faith in the people of this district. The bank always endeavors to keep customer satisfaction at the maximum. This can be very well understood from the fact that the bank has always shown growth in its Deposits. Various schemes are launched keeping in view the competition in market. The customers are benefited from a plethora of products offered by us.
The largest share of direct Agricultural Loan in the district is provided by us. The bank not only supports Industries and traders but is actively supporting SHGs and Small and Marginal Farmers. The various affiliated societies such as Primary Agricultural Societies, Employees Cr Coop Societies, Labour Cooperatives, etc are acting as the extending hands of the bank in loan generation and distribution. We are the first bank of the Eastern Region of our country in the Cooperative Sector to introduce Kishan Credit Card Loans to Farmers in June, 1999. Other than disbursing loans through the cooperative societies the bank has also introduced lending directly to customers using a system of Nominal Membership.
From a gentle beginning with a Paid up share capital of Rs 8,000/- the bank now has a paid up share capital of Rs. 412,330,037.80 (as on 31st March, 2016). The bank issues A Class, B Class and C Class Shares. A Class for Government holdings, B Class for affiliated societies and C Class for its Nominal Members. Voting rights are awarded to the B Class Share holders. The bank in its known history has always made a profit.
The Net NPA of the bank has also been brought down below 5%. The Bank was adjudged as the best bank of undivided Bengal in the year 1919-20 and received award from the Govt. of Bengal. The same tradition has been continuing even now and the Bank was adjudged as the Best Central Cooperative Bank of the State by NABARD on 1995-96 and on various other occasions.
