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
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.
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
|1||Total business as on 31.03.2019||119811.88 Lakh|
|Of which Deposit outstanding||71100.93 Lakh|
|2||Total No. of affiliated Co-op. Societies||280 Societies|
|3||Total No. of Branches||28 Branches|
|4||Total No. of Employees||205 Nos|
|5||Management||As of now the functions are being managed by an Administrator appointed by the Government, since there is no elected Board of Management|
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
|1958||Registered and started its Banking business.|
|1958||Opened its Branch at Bussy Street, Puducherry, as its First Branch|
|1958 to 1968||The Bank has duly elected Board of Management.|
|1968 to 1969||Special Officer.|
|1969 to 1982||Elected Board.|
|1982 to 1984||3 Member Committee.|
|w.e.f.1985 to till date||Administrator|
|1994||RBI granted License to the Bank. License NoRPCD.M54S dated 14 September 1994|
|1995||RBI granted Scheduled Status recognition.|
|1969 to 1995||Opened 18 Branches in various parts of Puducherry, Karaikal, Mahe & Yanam.|
|2001 to 2002||Opened 2 Branches in Puducherry and 1 Branch in Karaikal|
|2009 to 2010||Opened 5 Branches in Puducherry and 1 Branch in Karaikal|
|2010 to 2011||Opened 1 Branch in Puducherry.|
|2015||Migrated to TBA and started providing Banking business through 100% CBS mode in all the Branches.|
|2016||Reached 1000 Crore business for the first time.|
|27.06.2016||Introduced ATM Service in 6 Branches.|
|Launched issuing ATM Debit cards. Issued more than 11,000 Nos. of such cards. (including KCC Rupay Cards)|