New India Co-operative Bank Ltd.

About Bank

Our endeavors were motivated by a need, a dream and a vision of setting up a financial institution that would contribute to the socio economic progress of workers, small to medium entrepreneurs & their families & communities in which they all live & work. The founding fathers of the bank were inspired by the model of the German Labour Bank - a bank that straddled the divide between workers and businessmen and was one of the largest Bank in Germany serving the needs of businesses, industry and workers successfully.

The bank required capital, premises and management. The founders endeavors struck root after a considerable struggle, in 1968 when they began operations as the Bombay Labour Co operative Bank Ltd., under the aegis of our founding fathers - Shri George Fernandes, an eminent trade unionist and a member of parliament and a Minister, and also Shri Ranjit Bhanu, a noted criminal lawyer, trade unionist and a member of legislative assembly (MLA)

The bank started with 555 members who contributed the original share capital of Rs. 1 lac!.From the very inception their aim was to foster prudent and steady growth and emerge as a strong bank. This they have achieved successfully.