Nayagarh District Central Cooperative Bank

Nayagarh District Central Cooperative Bank , Nayagarh, Started its functioning on the first June of 1916 with a working capital of Rs. 10,000/- having only seven affiliated societies and in the year 1956, Nayagarh Central Co-Operative Bank was amalgamated with Nayagarh C.C.B commencing its operation with a share capital of Rs. 3.29 lakhs and deposit of Rs. 7.76 lakhs during 1956-57.The bank has grown substantially and as on 31st March’2011, the working capital of the bank reached Rs. 1189.09 crores with a deposit base of 626.61 crores. The bank has issued 375410 Kissan Credit Cards to the farmers of Nayagarh district and disbursed loan to them for agriculture and other purposes. Apart from agriculture finance, the bank has forayed into financing industrial sector, housing sector and other types of finance according to the needs of the customer. The bank has extended its banking network through 30 branches, 249 PACS and 2 LAMPCS operating in 19 blocks in Nayagarh district. to compete with recent technology adopted by the Nationalized Banks and Private Sector banks, bank has computerized 13 branches and 59 PACS in village areas for providing computerized customer service. The bank has earned a net profit of Rs. 204.72 lakhs in the year 2011-12. and declared dividend to its share holders.