In India the Co-Operative Act was first created in 1904 and then passed again in the year 1912 as the Cooperative Act which led to the formation of the Central Co-Operative Banks and the States initiated the formation of various Co-Operative Banks. In year 1920 month of Feb 19 the “Etawah Co-Operative Bank” was founded in Etawah District. At that time its work area was limited only to Etawah.
In the beginning, the bank faced several financial problems, during which the bank received continued support of the district’s public. Just as a small seed gradually assumes the form of a giant tree, in the same way the bank grew gradually day by day. In 1945, the bank completed its first Silver Jubilee (25 years) with flying colours. In coming years, the bank accepted the 1954–55 provincial supervision. In 1965, the new Co-Operative Act was passed after which the bank progressed continually.
The phenomenal progress of the bank from 1920 to 2014 is shown in the following brief table:
|
S.No. |
Description |
Year 1920 |
Year 2010 |
Year 2011 |
Year 2012 |
Year 2013 |
Year 2016 |
|
1. |
Equity |
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|
2. |
Consolidated Fund |
_ _ |
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|
3. |
Private capital |
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|
4. |
Submitted Depository |
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|
5. |
Borrowings |
_ _ |
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|
6. |
Working capital |
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|
7. |
Net profit |
_ _ |
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|
8. |
Branches |
16 |
18 |
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|
9. |
No. Of Workers |
In 1995, the Reserve Bank of India granted a license to the Bank for conducting business in the Banking Sector.
The most prominent feature of our bank is that, since its inception, the Bank has always been in profit.
The progress and development of the Bank have been made possible by the dedicated efforts of our public representatives, the valuable guidance of departmental officials, the efficient management, and the honesty and hard work of our bank personnel.
Currently, all branches of the Bank have been fully computerized, marking a major first step towards modern banking.
The Bank is operating on the CBS (Core Banking Solution) platform.
RTGS and NEFT services are fully operational, providing instant fund transfer facilities across the country.
In addition, ATMs are also operational, enhancing customer convenience.
