PUTTUR TOWN BANK

About PUTTUR TOWN BANK

The Puttur Co-operative Town Bank Ltd., Puttur is a trusted financial institution with a history that dates back to the early days of the co-operative movement in India. It was founded on 28 October 1909, inspired by the vision and leadership of the eminent co-operative pioneer Shri Molahalli Shiva Rao. The Bank began its journey with a small share capital of ₹578, contributed by 33 members, reflecting the spirit of collective effort and mutual support.
Originally established as a Co-operative Society, the institution aimed to promote savings, self-reliance, and economic cooperation among the people of Puttur and surrounding areas. With steady growth and increasing public confidence, it evolved into The Puttur Co-operative Bank, and later attained its present status as The Puttur Co-operative Town Bank Ltd., functioning as an Urban Co-operative Bank under the Banking Regulation Act, 1949.
For more than a century, the Bank functioned as a single-unit institution, efficiently serving the financial needs of the local community. A significant milestone in its growth was achieved with the opening of its first branch at Vittal, Bantwal Taluk, on 14 November 2024, marking the Bank’s expansion beyond its headquarters.
Demonstrating its commitment to sustainability, the Bank installed a 15 kV Solar Power Grid System in 2024, contributing to environmental protection while ensuring uninterrupted power supply for its operations.
The Bank has also embraced technological progress to enhance service delivery. The implementation of Core Banking Solutions (CBS) in 2023 integrated all banking activities under a centralized system. Continuing this transformation, the Bank introduced advanced digital services in 2025, including Direct NEFT and RTGS, Continuous CTS Clearing, ATM and RuPay Card facilities, QR Code-based payments, and Mobile Banking, offering greater convenience and efficiency to customers.
Currently, the Bank operates through two branches and serves over 10,000 members. It maintains a strong financial position with deposits of ₹83.00 crores and advances of ₹56.00 crores, while consistently generating annual profits.
In accordance with Reserve Bank of India guidelines, the Bank has been recognized as a “Financially Sound and Well-Managed Bank” for the past two consecutive years, as certified by the Statutory Auditor.
With a legacy spanning over a century, The Puttur Co-operative Town Bank Ltd. continues to uphold the principles of cooperation, integrity, and community service, while adopting modern banking practices to meet the evolving needs of its customers.