The Pondicherry Co-operative Urban Bank was registered as a Co-operative Society on 15th June 1955 and started its working from 11th july 1955 with the membershipof 1200 and share capital of Rs. 95,000/-.Later on the above said Society was converted into Bank namely The Pondicherry Co-operative Urban Bank. Initially the bank was registered under the Tamilnadu Co-operative Societies Act and rules. After implementations of the Pondicherry Co-operative Societies Act 1972 and Rules 1973 the said bank was brought under the Pondicherry Co-operative Societies Act and Rules. The above said bank has obtained license No. UBD. TN1029-P from Reserve Bank of India on 6th August 1990, to carry on the Baking Business as per section on 22(1) read with section 56(0) of the Banking Regulation Act 1949.
ACHIEVEMENTS & CREDITS
- Reserve Bank of India licensed Bank w.e.f. August,1990.
- RBI classified the Bank as Tier-II Bank since crossed 100 crores.
- Profit making Bank from the inception.
- Own a building in the heart of the town.