Our Profile

Co-operation is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations, through a jointly owned and democratically controlled enterprise. The origin of the co-operative banking movement in India can be traced to the close of nineteenth century when, inspired by the success of the experiments related to the co-operative movement in Britain and the co-operative credit movement in Germany. Now, co- operative movement is quite well established in India. The first legislation on co-operation was passed in 1904. The Co-operative Banks operates mainly for the benefit of rural area, particularly the agricultural sector. They are the main source for the institutional credit to farmers. Co-operative banks mobilize deposits and purvey agricultural and rural credit with a wider outreach and provide institutional credit to farmers. In Kerala, the system of co-operative credit is strong. The co- operative credit structure of the state is- Kerala State Co-operative Bank at Apex level, DCB’s at middle level and Primary Agricultural Credit Society at lower level. As per sec 2 of KCS Act 1969,” PACS is a service co-operative bank, farmer’s service co-operative society, rural co-operative bank; its objective of which is to undertake agricultural credit activity having its area of operation confined to a village panchayath or municipality. The interest rate of it is fixed by Registrar of co-operative society. The liability of service co-operative bank is limited”. The Nadakkuthazha Co-operative Bank is a PACS which provides short term, medium term and long term credit. The major business dealings related to Nadakkuthazha Service Co-operative Bank is accepting deposits and lending loans. The bank provides various types of loans and attractive schemes of deposits. The Bank also offers Railway Ticket reservation and Money Transfer facility. The Nadakkuthazha Service Co-operative Bank attained special grade and A class in audit classification.