The Nadakkuthazha Service Co-operative Bank Ltd No.D-2668 registered on 24th November 1997. In December 1997 the bank started it’s functioning near the Government Hospital Vatakara. On 11th April 1998, the formal inauguration of the bank was done by Mr. PinarayiVijayan, the honourable Co-operative Minister at that time. The Nadakkuthazha Service Co-operative Bank attained class-1 position in a small span of time. It can be described as the own bank of Vatakara city. The main branch of the bank was inaugurated by Smt. A K Premajam MP on 25th July 2001. The bank has 7 branches in Vatakara town. There are two medical stores, an agricultural nursery and a hi-tech organic farm under the bank.
The area of operation of the Nadakkuthazha Service Co-operative Bank is confined to Vatakara municipality. The bank is located in VatakaraTaluk of Kozhikode District.
The liability of the Nadakkuthazha Service Co-operative Bank is limited to the paid up share capital of the members.
The Maximum Borrowing Power of the Nadakkuthazha Service Co-operative Bank is 150 times of paid up share capital plus Reserve Fund.
The Individual Maximum Borrowing Power of the Nadakkuthazha Service Co-operative Bank is 2500000/-.
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