Chennai is the capital city of T.N ,besides being an important district. The district city is one of
the metropolis of India
and serves as the gateway of the culture of south India.
The city was established in the 17th century by the British, who developed it into a major Urban center and naval base.
The city was established in the 17th century by the British, who developed it into a major Urban center and naval base.
The Chennai central Cooperative Bank, previously known as The Madras District Cooperative
Central Bank Ltd., was registered as a Cooperative Society on 10.07.1930 and commenced its
business on the same day. The area of operation of the Bank extends to the Corporation Limits of
Chennai. As a District Central Cooperative Bank, it caters to the needs of the Primary
Cooperative Societies and Cooperative Wholesale Stores and other Cooperatives in Chennai city
At the commencement, the business of the Bank was confined to a few lakh of rupees. With the
able administration of the then President Dr. P.Natesan, M.B.B.S., popularly known as the
Father of Cooperation the business of the Bank expanded to new heights. Whenever the elected
Board was not in Office, the Special Officers, who are Officers from the Cooperative Department
on deputation, took charge of the management of Bank. From the year 2001, the Bank is
continuously managed by the Special Officers. To ease the burden of the common public, from the
clutches of the Pawn brokers, the Bank has started issuing jewel loans to the individuals from
the year 1976, which is now has attained a multifold growth. In the year 1980, the Bank was
granted license under Section 22 of Banking Regulation Act of 1949 to do banking business.
It is the Chennai Central Cooperative Bank, with its long sighted vision, mooted the concept of
Banking at Doorsteps by launching its Mobile Branch in the year 1979. The mobile Branch
visited the areas in the City, where banking facilities were not available and provided Banking
services to the public in that area. Now the Bank has 65 Branches, one mobile unit and its Head
Office located at Prakasam Salai (Broadway). At present the Bank is transforming itself into
modernization by computerizing all its operations in its Branches and Head Office, thus
preparing the platform for Core-Banking Business at a later date.
As on 31.3.2024, there were 490 affiliated societies with a paid-up share capital of Rs.196.44
Crores. The Authorised Share Capital of the Bank is Rs.200 Crores made up of 2,15,00,000 shares.
The accounts of the Bank are audited by the Auditors of the Cooperative Audit Department,
Government of Tamil Nadu. From the year 2011, the accounts of Bank are audited by Chartered
Accountants Audit. The Bank has earned a net profit of Rs.40.17 Crores and was classified under
A Class in the final audit as on 31.3.2024. The Bank is continuously placed under A Class in
the Audit for several decades and is earning profit since its inception. The Bank is
periodically inspected by the National Bank for Agriculture and Rural Development (NABARD). The
Bank has a low percentage of Non-Performing Assets i.e. 3.48% among the District Central
Cooperative Banks in Tamil Nadu. Similarly, the Bank has the highest percentage of CRAR (Capital
to Risk Assets Ratio). The CRAR of the Bank is 31.39%, which is the highest among the Central
Cooperative Banks in Tamil Nadu.
The authorized share capital of the Bank is Rs 200,00,00,000/. Shares made up
20000000/ shares of each value of Rs, 100/. Subscribed by the affiliated cooperative societies
and state Government the details as per the audit report for the year 2023-2024 as follows,
No. Of Members
Rs
1
A Class Member Societies
489
196,36,52,400
2
State Govt
1
700000