The Puducherry State Co-op. Bank was started with an objective of development of the agrarian economy of the U.T. of Puducherry and to release the clutches of farmers from the money lenders, etc., by lending loans at concessional rates/cheaper rates.

The Puducherry State Co-op. Bank has started its business with a total Share Capital of 6.74 Lakh and a Working Capital of11.77 Lakh. The local Government’s share in the total share was3.00 Lakh. The total Share Capital as on 31.03.2020 was 2836.11 Lakh, of which the Government’s Share was 437,84 Lakh and the total Working Capital was 81929.95 Lakh, as on 31.03.2020.

The Puducherry State Co-op. Bank has got its license from the Reserve Bank of India, on 14.09.1994 (vide License No.RPCD/M54S) and also obtained Scheduled Status on 20.07.1995.

The Puducherry State Co-op. Bank is raising funds through the following sources

• Share Capital from the State Government and the affiliated Co-op. Societies
• Availing refinance from NABARD at concessional rate and also from the State Government
• Increasing its reserves base
• Mobilizing various types of deposit from individuals and from the institutions as well.

The Bank is deploying its funds for providing all credit needs to the affiliated Co-op. Societies and to the individual customers

The Puducherry State Co-op. Bank is presently having 25 branches are providing all Banking services to the entire U.T. of Puducherry covering all its 4 regions through CBS platform.

The audit of the Puducherry State Co-op. Bank is conducted every year by the empanelled CA Auditors and the Final Audit Memorandum (FAM) is issued by the Registrar of Co-op. Societies, Puducherry. The final audit of the Puducherry StCB was completed upto 2019-20 and the Bank has obtained necessary certificate from the Registrar of Co-op. Societies and the Bank is also complied with the RBI norms by publishing its Balance Sheet and other financial reports in the local daily newspaper on the due date.

Audit Rating

As per the Final Audit Report as on 31.03.2020, the Puducherry StCB was rated as “C” Grade.

For development of computer services and for updation of computer peripherals, the NABARD released a sum of 56.00 Lakh in the year 2017, as Technology Adoption Fund

We, PSC Bank, will strive to earn the trust and goodwill of our customers, always keeping their interest first, and by providing them courteous and efficient service. build up a United, Dedicated, Skilled team of bankers, with openness and mutual trust, seeking excellence in everything we do, no matter how small. keep our Bank strong, self-reliant and profitable, imbued with a healthy competitive spirit responding to challenges, in changing circumstances and setting new standards of excellence, achieve prosperity for our customers, sister Co-operative and Puducherry