Co-operative Banks in the state play a crucial role and have a greater responsibility in responding to the financial needs of the ordinary citizens while also helping to increase the state's resources.. The Ballary District Co-operative Central Bank is a financial institution which while promoting the spirit of co-operation has been extending financial assistance to all sectors.
- Formation :
The Ballary District Co-operative Central Bank was founded on 12.12.1920 and was promoted by Honorable Late Sri Aasundi Bheemarao. He had served as the Founder President of the Bank from 22.12.1920 to 07.11.1925.
- Main Objectives : Our institution was first registered as a Co-operative Society under the Madras Co-operative Societies Act 1912, but later began functioning under the Karnataka Co-operative societies Act 1959. Presently, its area of operation is Ballary district and it has its own set of rules and guidelines.
Our Bank's Aims and Objectives are as follows :
- It mobilises funds from public and institutions to extend financial aid under the Karnataka Co-operative Societies Act.
- It offers financial assistance to such institutions and organisations.
- It also works towards promoting activities of affiliated Co-operative societies, extending assistance and co-ordinating.
- I will also supervise and review the functioning of the Societies.
- With due permission of the Registrar of Co-operative Societies, extension counters of branches would be opened and rules framed for effective functioning.
- Collecting shares from co-operative societies.
- Steps for loan recovery from co-operative societies and such other works under Cooperative Societies Act.
- To frame policies in accordance to the directives issued by the government at regular intervals.
- Opening accounts in other commercial banks in the best interest of our Bank's business.
- Incorporating crop insurance and Yashaswini scheme as per the government's orders
- To offer loan based on salary, housing loan and other business loans to staff members.
- Advancing of cash credit loans to businessmen and co-operative societies to undertake business.
- Offering strong rooms for the convenience of customers and to provide jewellery loans.
- Advancing loans by pledging savings certificates as per the rules framed by the Bank.