Bank Hostory

The Town Co-operative Bank Ltd., Hoskote is one of the leading Urban Co-operative Bank in Karnataka and was founded by Sriyuts : Sha : Venkatasubbaiah, Javali Rudrappa, Sheenappa,, Yajaman Chatte Basappa and other Co-operators after beginning of the Co-operative movement in Karnataka.
Initially the bank started as a Credit co-operative Society in the year 1913 and registered under No. 258 dated 11 February, 1913 in the name and style as “The Town Co-operative Society Ltd.,”. In the initial stage, the bank was served the members by selling of textile and ration items. After that, for encouraging thrift and savings habit among the members and public and to free the common man from the clutches of private money lenders and later converted as Urban Co-operative Bank after the year of 1960.

The bank began with 40 members, mobilised with Share capital of Rs.5217/-. After conversion as a Bank, as at the year end of 1971, bank mobilised Rs. 1.19 lakh of share capital with 1111 members and also mobilized Deposits of Rs. 2.12lakhs from which advanced Rs.3.25 lakhs and working fund of the bank was Rs. 4.53 lakh.

Today as on the year end of 31 March, 2024, the bank has 17638 members with share capital of Rs.1039.66 lakhs, total Funds & Reserves of Rs.4394.36 lakhs, total deposits of Rs.26224.16, total loans of Rs.14230.73 lakhs, total investments of Rs.16041.85 lakhs and total working fund of the bank is Rs.32367.08 lakhs.

The year by year progressive financial figures are as under since 1971

Sl.No.	Particulars	1971	1990	2000	2010	2020	2021	2022	2023	2024
(Rs. In lakhs)
01	Number of members	1111	4392	8694	13542	16984	17389	17426	17497	17638
02	Share Capital	1.19	18.18	52.09	265.26	932.99	982.23	1017.89	1016.73	1039.66
03	Funds & reserves	0.93	9.62	108.83	845.73	2453.70	2855.74	3159.72	3940.22	4394.36
04	Deposits	2.12	64.06	1065.38	5389.29	19665.69	22767.02	24560.63	24850.43	26224.31
05	Loans & advances	3.25	62.87	866.86	4445.05	16281.82	16223.38	16401.83	14914.99	14230.73
06	Investments	0.42	6.80	285.71	1859.74	5832.79	9647.88	11478.35	13568.09	16041.85
07	Working Fund	4.53	90.97	1235.74	6708.45	23594.10	27188.85	29485.12	30462.11	32367.08
08	Gross Profit	0.21	2.38	1.35	163.19	530.83	618.05	669.91	909.42	834.02
09	Net Profit	0.21	2.38	1.35	105.18	320.56	362.56	445.56	460.56	505.56
10	Audit grade	B	A	A	A	A	A	A	A	A

The Bank is functioning on the sound principles of co-operation and successfully completed more than 112 years of banking service. The bank is continuously making profit since the date of its inception and disbursing dividend to its members and also in top Grade of Audit classification in all the years. Visionary and transparent directors on the board and dedicated professional staffs are responsible for this achievement.

Our bank celebrated Golden Jubilee 12 April, 1967, The Governor of Mysore State Shri V.V.Giri inaugurated the celebrations and Shri M.P.Nadagouda, Co-operative Minister was presided over the funciton. Shri H.M.Shivalingaiah is the president of the Bank at that time. Our bank also celebrated Centenary on 04 February, 2018 and at the same time of this centenary function, Market Road Branch was also inaugurated and introduced ATM RuPay Debit Card and CTS Cheque facilities. The State Chief Minister and other Ministers and other dignitaries were attended the centenary function.

MAIN OBJECTIVES OF THE BANK

To encourage thrift, self-help and co-operation among the members and depositors of the bank.
To do Banking business as defined in clause [b] of Section 5 of the Banking Regulation Act, 1949 (as applicable to Co-operative societies) and also engage in such other business as is permitted under Section 6 of the said Act, on co-operative principles.
To borrow or raise money.
To create funds to be utilized for promotion of Members and Staff children’s Education, subject to rules to be framed by the Board, and approved by the Registrar of Co-operative societies.
To accept the deposits from the public, charitable institutions/trusts, and other public institutions.
To create funds to be utilized for Members and Staff welfare subject to rules to be framed by the Board, and approved by the Registrar of Co-operative Societies.
To provide safe deposit vaults and ancillary services.
To negotiate loans and advances.
To lend money to its members.
To acquire, to hold to issue on commission, to under-write and to deal in stocks, funds, shares, debentures, stock bonds, obligations, securities and investments of all kinds.
To establish or to support or to aid in the establishment or support of funds for the benefit of members or dependants of such members, subject to the rules framed by the Board and approved by the Registrar.

AREA OF OPERATION

Up to 2015 the area of operation of the bank was confined to the area of the Town Municipal Council of Hoskote town of Bangalore Rural District only. During the financial year of 2015-16 the bank has extended its area of operation to the area of Bangalore City District, Town & City Municipal Councils of Hoskote, Devanahalli, Nelamangala, Doddballapur and Vijayapura of Bangalore Rural District, Chikkaballapur, Sidlaghatta and Chintamani of Chikkaballapur District and Kolar and Malur of Kolar District.

VISION & MISSION

The Bank believes that every individual from each class of the society needs affordable, relevant and quality banking to fulfill personal aspirations. The vision of the bank is to constantly strive towards meeting this social need by providing better banking service. To mobilize deposits, disburse loans prudently and invest surplus wisely with the involvement of our committed, dedicated and hardworking staff to achieve the best.

GOALS

To emerge as the top Co operative Bank in the state. To mobilize Deposits of Rs. 500.00 Crores and to increase our Loans and advances to Rs. 380 Crores & to increase our branch network to 10 to 15 branches in near future. To implement Net Banking with the permission of RBI.

ACHIEVEMENTS

Bank awarded as “Best Co-operative society” of the then Mysore Province for the years 1931, 1932 & 1933 with meritorious Certificate and Shield from the then Yuvaraja of Mysore Sri Sri Sri Kanteerava Narasimharaja Odeyar Bahadur. Awarded ‘Veteran Co-operative Society’ in Bangalore Rural District on 08 May, 2005 during the celebration of Co-operative week and also awarded “Best Co-operative Society” on November, 2008 during the celebration of Co-operative week.