Pune District Central Co-op. Bank

To facilitate the distribution of finance in the rural areas, district co-op banks were established as a Central Finance Agency to meet financial requirements of various co-operatives in the district. Pune District Co-op bank (PDCC) came into existence on 4 th September 1917 thanks to the initiative of late Shri. N. C. Kelkar.

The bank has rich history in as much as its first Chairman Late Shri.N.C.Kelkar a renowned litterateur and social worker. Able leadership was subsequently provided by eminent personalities like Late Dr.D.R.Gadgil, the father of co-operative movement in India, Shri. L. B.Bhopatkar, a leading lawyer from Pune and Prof. V. G. Kale, an eminent economist.

The area of operation of the bank is extended over Pune District. Since last 93 years the bank is rendering remarkable service to its customers. As a Central Financing Agency in the district, the District Central Co-op.Bank is the platform which, the co-operative societies in the district use to maintain their reserve fund deposits and others, besides which the SLR investments in the form of deposits are being kept with the DCC banks by the urban co-op. banks. The DCC banks are representing the co-operative institutions in the district in many ways. The DCC banks are the backbone of the Agriculture Finance in the country. The Central Co-op.Banks occupies a position of cardinal importance in the co-operative credit structure. They form an important link between the apex co-operative bank and the primary agriculture credit societies. The success of the co-operative credit movement largely depends on their financial strength.

Objectives :

• To act as balancing centre of finance for the primary societies in the district by providing them with funds when they have a shortage and by serving as a clearing house for their funds which are surplus.
• To provide capital to the affiliated societies and to perform the banking business.
• To provide a safe place for investing the reserves of primary societies.
• To provide latest banking facilities to the members.
•   To develop and extend banking facilities in rural and Urban areas.
• To develop the co-operative movement in the district on sound lines and to act as friend philosopher and guide.
• To supervise, guide and control the working of member societies.