Co-operative banks are
deeply rooted inside local areas and communities. They are involved in local
development and contribute to the sustainable development of their communities,
as their members and management board usually belong to the communities in which
they exercise their activities. By increasing banking access in areas or markets
where other banks are less present - SMEs, farmers in rural areas, middle or low
income households in urban areas - co-operative banks reduce banking exclusion
and foster the economic ability of millions of people. They play an influential
role on the economic growth in the countries in which they work in and increase
the efficiency of the international financial system. Their specific form of
enterprise, relying on the above-mentioned principles of organization, has
proven successful both in developed and developing countries
The co-operative banks in rural areas mainly finance agricultural based
activities including farming, cattle, milk, hatchery, personal finance etc.
along with some small scale industries and self-employment driven activities,
the co-operative banks in urban areas mainly finance various categories of
people for self-employment, industries, small scale units, home finance,
consumer finance, personal finance, etc.
The Nawanshahr Central Cooperative Bank is fully dedicated towards the
upliftment of all the sections of
society and ensuring the fully inoculate the spirit of Cooperative Movement.