Goa State Co-operative Bank
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
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.
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