History

  • In 1961 The Rajasthan State Government and 14 Industrial co-operative societies established the First Industrial Bank in the Co-operative sector in the State in the Name of Rajasthan State Industrial Cooperative Bank Ltd with Share Capital of Rs. 5 Lacs.
  • In 1964 Bank First Branch was opened at Mirza Ismail Road and later on another at Chandpole Bazar, Jaipur
  • In 1971 Rajasthan State Government enhanced its share capital from Rs 5.00 lac to Rs. 10.00 lac.
  • In 1999 Bank was rechristened as The Rajasthan Urban Co-operative Bank Ltd.
  • In 2000 (peak time) the bank had a customer base of 9000, Deposits of Rs. 12.00 Crore and Loans of Rs. 8.00 Crore.
  • On 30th August 2005 RBI put the Bank under directions and Banking operations were suspended due to poor financials and management Share members on that day were 4603.
  • On 27.11.2008 the Voting eligibility raised to Rs. 15000/- for Share members (Min 150 Shares).
  • On 15th Jan 2009, New share Members added (30) with share Capital raised from Rs. 50.49 lacs to Rs. 54.99 lacs and share members to 4633.
  • Fresh Board elections held within the shareholders of the Bank and New Board of Directors was constituted on 09.06.2009
  • New Board of Directors injected Rs. 1.45 Crore in the Share Capital with 26 new members in 31st July 2009 with Total Share Capital of Rs. 2.00 Crore.
  • On 12.10.2009 the RBI lifted its suspension and permitted the new management to resume all Banking Activities.
  • DICGC membership available.
  • Bank has its own Clearing House Ticket.
  • Lockers facility is available at both the branches.
  • In March 2010 Bank earned profit of Rs. 10.51 lacs
  • Bank Computerised with Core Banking Solution (CBS) First in Co-operative Sector Bank in Rajasthan in April 2010.
  • On 17-06-2010 M I Road Branch shifted to C-Scheme Branch at prime location at Ground Floor, City Mall, Bhagwan Das Road, Jaipur
  • Bank installed ATM at C-Scheme Branch in June 2010
  • SMS alert facility made available in June-2010
  • Managing Director who was on deputation from Govt. withdrawn on 27.05.2011 and Bank became fully private. Working as per RBI and Co-operative Department guidelines
  • Share Capital of Government withdrawn in May 2011
  • As on 31st March 2012,
    Total Deposits Rs. 1372.56 lac
    Total Loans & Advances Rs. 877.90 lac
    Total Reserves Rs. 482.94 lac
  • Net Profit as on 31.03.2012 is Rs. 12.05 lac.