The Punjab State Cooperative Bank Ltd., Chandigarh was established on 31 August 1949 at shimla vide Registration No.720 as a principal financing institution of the cooperative movement in the state. It has 17 branches and 1 extension counter in the city of Chandigarh. 20 Central Cooperative Banks having 802 branches in the State of Punjab are affiliated with the bank. In the Cooperative banking structure the position of the Punjab State Coop Bank is extremely important as a the whole short term credit system revolves around it. This bank ensures that its member central cooperative banks follow sound banking practices and observe strict financial discipline. The Central Cooperative Banks are financing the farmers through PACS at the village Level. There is no arena of life where this premier institution has not played its part. From a farmer, artisan to traders/businessman, everybody has been covered in the fold of this institution. The green, white and sweet revolutions in the state of Punjab are some of the major achievement in which this institution has played a vital role.
The Punjab State Cooperative Bank has already been awarded “BEST PERFORMANCE AWARD” by NABARD and NAFSCOB on number of occasions.
The Punjab State Cooperative Bank was established on 31st August, 1949 at Shimla vide registration No. 720 is a principle financing institution of the cooperative movement in Punjab. In 1951 its Head Office was shifted to Jalandhar from where it moved in 1963 to Chandigarh. In the cooperative Banking structure, the position of the Punjab State Cooperative Bank is extremely important as the whole credit system revolves around it.
It has 17 branches and 1 extension counters in Chandigarh. There are 20 District Central Cooperative Banks having 802 branches all over Punjab, mostly in rural areas of the State.