Known Unknown facts about Citizens’ Co-operative Bank Ltd Jammu

The elections for Board of Directors of the Citizen Cooperative Bank Ltd., Jammu, held recently. But do we know enough about it?  This article will provide you some facts about this bank. Here we are providing you:

  • The Citizens’ Cooperative Bank Ltd. Jammu is the First and Largest Urban Cooperative Bank in the Jammu & Kashmir.citizens cooperative bank jammu
  • The Bank was registered as Cooperative Societies under J&K Cooperative Societies Act 1960 on 4th of March 1978.Reserve Bank of India Issued Licence NoACD.J&K 114P in favour of The Citizens’ Cooperative Bank Ltd., Jammu on 14-08-1978 to carryon banking business in India.
  • The bank with its registered office and its first branch at Moti Bazar Jammu commenced banking business on 3.10.1978.
  • At the outset bank had only 738 Shareholders with total Share capital of Rs.1.96 lacs including Govt. share capital of Rs.1.00 lac.
  • The Border of Directors is elected for the tenure of 3 years to oversee the working of the Bank from the shareholders by elections.
  • The area of operation of the bank at the time of commencement of its business was confined to the Municipal limits of Jammu City which has now been extended to the whole of Jammu Province.
  • At present, the bank has 11 branches and 4 Extension Counters in Jammu Division.

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In recent elections 6731 votes out of a total of 24,884 eligible voters cast their votes as against 4431 during the previous elections held in 2012.