Belagavi DCCB Targets 10% Growth In 2017-18

It plans to introduce e-banking services and open additional branches:

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The idea of forming a central cooperative bank in Belgaum (now Belagavi) was first mooted the late Rao Bahaddur R.G. Naik in 1918. There were 12 promoters who proposed the formation of the Belgaum District Central Cooperative Bank, which came into being on 17 December 1918. The bank began its operations on 10 February 1919, when the first general meeting was held and the formal procedure of adopting the bye-laws and electing the board were completed. Initially, there were 26 individuals and 9 societies as members with a working capital of ₹13,403. The rationale behind establishing the bank was to overcome the problems of primary cooperative societies functioning in Belgaum district. The required finance for the 103 primary cooperative societies was provided by the Bombay Central Cooperative Bank and the Karnataka Central Cooperative Bank, Dharwad.

NETWORK EXPANSION

Today, the bank has 87 branches, the last 4 branches having been added in 2015- 16. The bank has regulatory permission to open 15 more branches. Ramesh Katti, president of the bank, says the bank intends to open 4 to 5 new branches within the next 2 months. And all the 15 branches will be opened before centenary celebrations of the bank, he adds.