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In the year 1997 when Secunderabad Cloth Merchant Association was celebrating Golden Jubilee, the then General Secretary Sri Hashmukh.P.Davda suggested for starting an Urban Coop Bank to facilitate the financial needs of the members as well as entire mercantile community in the Vicinity of commercial street, which houses Yarn, Readymade Garment, Steel, Bullion, Dyes and Chemicals, Electricals, Hardware, Agricultural Equipment, etc. To fulfill the project a Committee was formed under the chairmanship of Shri Gautam Chand Jain, Pokarna and submitted the Project Report to the Commissioner for Cooperation and Registrar of Coop. Societies, A.P.Hyderabad as well as to Reserve Bank of India, Mumbai for Registration and Banking license. The Certificate of Registration No.T.A.1448 was issued in February, 1998 and Banking License was issued in October, 1998 by RBI. The selection, furnishing including construction of Cash Room of premises took about 9 months. Fully Computerised Bank with Central AC, Strong Room and Safe Deposit Lockers. Bank was inaugurated on 16th June, 1999 at the hands of the then Commissioner of Police, Hyderabad Sri S.R.SUKUMARA, I.P.S .

In the year 2014 Bank upgraded the technical platform by adopting Core Banking Solutions (CBS) as per RBI Guidelines. RBI directives in respect of C.R.R and S.L.R etc, are strictly followed enabling Bank to offer services like SMS Alerts, RTGS / NEFT etc.facilities. The Bank is envisaging to offer very soon offer ATM and Credit Card Facilities also. The Bank is looking forward to expand to other parts of city as when RBI permits.

The Bank commenced business with a Share Capital of Rs.30 Lakhs in 1999. As at the end of March 2015, the membership 3000 Plus and the amount of the Share Capital stands at Rs.1.5 Corers and Net Worth of Rs.3.05crs.. The Bank has for the last six years distributed Dividend amounting to Rs.89.15 Lakhs at an average of 13.5%. Each Shareholder has been paid Dividend of 81% of every rupee of their investment in Capital.


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