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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 to help out the people of Himachal 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 six more branches were added  in February, May, December 1996, June 1998 ,October 2008 and the last one in July 2009.  In may 1970 it purchased  Paharganj building and reconstructed the same in 1993. In october, 1997 it purchased the present premises at Janakpuri to set up administrative, arbitration and recovery department and HO.  Central accounts and Personnel department  are 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.  The latest audited financial position  of the bank as on 31st March, 2014 is as follows:-  

 

Membership

38648

Clientele other than members

119395

Share money

20.12 crores

Reserve/Other funds          

27.16 crores

Working Capital                          

635.01 crores

Deposits                                    

548.65 crores

Advances                                  

355.82 crores 

Net Profit Before Tax

9.76 crores

Net Profit After Tax

7.24 crores

Net NPA                                          

0.96%   

CRAR                                        

12.58%  

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.     

AGBM and elections, audit etc are held on regular intervals. Bank  is giving dividend to its Share-holders regularly and lastly declared @ 18% the highest declared/paid so far.  Bank has also introduced three schemes of welfare nature for its shareholders .  First one is If from the membership of the Bank existing as on 31.12.2013, any member dies, his nominee will be given a death grant  of Rs. 25000/- from Member Welfare Scheme and if he has taken any loan, then loan amount up to Rs. 75000/- will be exempted from interest. Any member enrolled after 31.12.2013 if dies before attaining a membership of ten years, his nominee will  be given a death grant of Rs. 15000/- from Member Welfare Scheme and loan up to Rs. 50,000/-, if taken, will be exempted from interest.Any member enrolled after 31.12.2013 if dies after completing membership of ten years, his nominee will  be given a death grant of Rs. 25000/- from Member Welfare Scheme and loan up to Rs. 75000/-,if taken, will be exempted from interest, the second  one is where scholarship @ Rs.150/- and Rs.200/- per month is given to the brilliant wards of the members and  staff and the the third one is to give one time incentive to those wards of members / staff who get 90 % marks in Board examination. Amount of incentive is Rs.3100/- and Rs.5100/- for 10th and 12th class respectively.

All the branches are fully computerized with CBS. The implementation of CTS, NEFT/RTGS, ATM have already been done .Board of Directors has also prepared a “Vision Document” for 2014-15 to 2016-17 according to which various  targets have been fixed. 

                       

Membership  has been planned upto 41000  

Efforts will be made to maintain the highest percentage of dividend  

Clientele 1.40 lacs  

Share Money upto 30 crores 

Deposits to increase 850 crores from 548 crores  

Advances to increase 560 crores from 355 crores.

To increase working capital from Rs. 635 cr. to Rs. 1000 cr.  

To increase the Net Worth of the bank to Rs.55 crores 

ATM Card Holders Upto 15000

To purchase two buildings    

To be eligible for scheduled status

To computerize HO and CRD

To open two branches.

To strengthen HO working  

To get "A" RBI inspection rating

To hold minimum two customer meetings in a year, six in three years in different parts 

To open onsite ATMs in all branches

To make customer service quick and satisfactory

To arrange minimum two lectures in a year on important topics such as investments, NPA, customer service, credit appraisal, KYC norms, CRAR, ALM, Internal Control, Profitability etc.

To maintain net NPA 0% and gross NPA not more then 4.5%

 

All the branches of the bank remain open for six days a week with full day banking service on Saturday.  For the convenience of its customers it is having agency arrangement with HDFC Bank which enables the bank to issue Demand Drafts 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.  

For its employees bank has introduced several good schemes like cover of mediclaim insurance, covering expenses upto 3.00 lacs requiring hospitalization of  the employee, his or her spouse & upto    two childrens.  Facility of housing loan upto fifty lacs is also available for the staff.

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.  

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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