Goa State Co-operative Bank Limited.
The Bank has a very humble inspiring beginning. On 7th, November 1963, "The Goa State Co-operative Bank Ltd" was founded as Apex financing agency in the co-operative sectors in the then Union territory of Goa, Daman and Diu with Shri. S. Khushaldas as its first Chairman.
The first Chairman and the Board were the people with deep and abiding ideals, faith, vision, optimism and entrepreneurial skills. These dedicated men in-charge of the Society had a commendable sense of service and duty imbibed in them. Even today, our honorable founders inspire a sense of awe and respect in the Bank and amongst the shareholders.
The Bank was initially set up to help the members in distress. Its objective was to provide finance to the needy members in the then Union territory of Goa, Daman & Diu and bring up their financial standards. The Bank provides more interest on deposits and loans to agriculture and allied activities. The Bank also provides all types of loan schemes like Urban loans, Consumer loans, loan against gold, loan against NSC, Loan against Pigmy, Non-agricultural loan, Weddings of dependent members of the family, loan for Repayment of debt and to meet expenses of medical treatment etc. to suit the dreams and desire of the members.
During this cataclysmic cavalcade of history, the Bank as a financial institution and its members could not of course remain unaffected by the economic consequences of the major events. The Founder Members and the later-day managements of the Bank continued to demonstrate their unwavering faith in the destiny of the common man and the co-operative movement and they encouraged the shareholders to save despite all odds.