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The Kangra Cooperative Bank Ltd. started in a very humble way as a small Thrift/Credit Society in March, 1960 by a few friends of Distt. Kangra of Himachal Pradesh to help out the people of Himachal Pradesh residing in Delhi to uplift their economic conditions and tide over the financial hardships. Dedication, sincerity and honesty of these members/associates brought rich fruits and this Thrift/Credit Society grew up into a big society within twelve years after its formation and successful running was converted into a primary urban Cooperative Bank in 1972 by RBI and was permitted to carry out banking activities including acceptance of deposits from public (non-members) by opening their Saving, Current and RD A/c�s. Twenty three years there from in June 1995 it was granted a license to carry out the banking business by the Reserve Bank of India . Thereafter, it was granted license to open branches and consequently eleven more branches were added in February, May, December 1996, June 1998 ,October 2008, July 2009 , April 2014, July 2014, October 2017, February 2018 and the last one in April 2018. In May 1970 it purchased Paharganj building and reconstructed the same in 1993. In October, 1997 it purchased three floors at Janakpuri to set up administrative, arbitration and recovery department and HO. Central Loan Section and Personnel department are also functioning from this building. It has a meeting room. One branch also function here. The main branch along with its service branch, is situated in its own three storied building at Paharganj. It purchased another Building in April 2008 at Jagatpuri where its one of the existing Branches has already been functioning. It has a board meeting room. In March 2022 another floor at Sant Nagar Burari was purchased where existing branch is functioning and a Central Record room is also made. The latest audited financial position of the bank as on 31st March, 2024 is as follows:-
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Membership
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43284
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Clientele other
than members
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120829
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Share money
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44.64 crores
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Reserve/Other funds����������
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79.88 crores
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Working Capital��������������������������
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1425.01 crores
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Deposits �����������������������������������
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1266.13 crores
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Advances����������������������������������
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701.76 crores
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Net Profit Before Tax
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9.48 crores
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Net Profit After Tax
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7.77 crores
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Net NPA������������������������������������������
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-1.60%
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CRAR����������������������������������������
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13.55%
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Bank enjoys Grade �A� audit classification since long. Govt. of NCT of Delhi gave to the Bank "Best Bank Award" for the years 2004-05, 2007-08, 2009-10 and 2011-12.
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AGBM and elections, audit etc are held on regular intervals. Bank is giving dividend to its Share-holders regularly. Bank has also introduced three schemes of welfare nature for its share holders.
First one, if any share holder of the Bank dies his nominee will get a death grant of Rs. 30000/- from members welfare scheme. If he has taken any loan, then loan amount up to Rs. 1,00,000/- will be exempted from interest.
Second one is in the form of scholarship @ Rs.3500/- and Rs.4000/- per year to the brilliant wards of the members and staff.
The third one is to give one time incentive to those wards of members / staff who get 90 % and above marks in 12th class Board examination, amount of incentive is Rs.5100/- and an appreciation certificate is being given to such wards in bank�s annual general body meeting.
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All the branches of the bank remain open for six days a week except second and fourth Saturday. For the convenience of its customers it is having agency arrangement with HDFC Bank which enables the bank to issue Cheques on HDFC branches across the country, to arrange collection of out-station cheques within a week or ten days. Bank is also maintaining C-SGL A/c with HDFC and also participate in the non-competitive bids of RBI for the purchased of Govt. Securities.
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Bank is providing services of general as well as life insurance through New India Insurance Co., SBI Life Insurance Co. & IFFCO Tokyo Insurance co.
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PAN Card Services are also available at its all branches.
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For its employees bank has introduced several good schemes like cover of mediclaim insurance, covering expenses upto 3.00 lakhs requiring hospitalization of the employee, his or her spouse & upto two children. Facility of housing loan upto Fifty lakhs is also available for the staff.
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It has in place well defined service rules which ensures career growth to its employees. It also celebrates annual day in which awards for best branch, workers etc. are also given.
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In order to improve the knowledge of the staff guest lectures are also arranged on important topics related to the banking activities from time to time.
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