The Cooperative finance in the erstwhile State of Patiala was made available by a State owned bank viz. the Patiala State Bank (now State Bank of Patiala). With taking over the assets and liabilities of the then Patiala Cooperative Union, the Patiala Central Cooperative Bank Ltd., Patiala was registered on 28/09/1949 under the Cooperative Societies Act, 1912. The Bank is having it’s head office at The Punjab State Cooperative Bank Ltd., Chandigarh.
Constitution and Management
The Bank is managed by the Board of Directors (9 elected by the members Cooperative Societies and 3 nominated by the Govt. being member of the Bank having contributed an amount of Rs.119.82 lacs as share capital).
Apart from its Head Office at Patiala, the Bank has a network of its 43 branches spread all over the district. 16 out of the 43 branches of the Bank, are working at the Focal Points – a scheme started by the Govt. of Punjab in the year of 1978.
As per the Bye –laws of the bank , the Coop. Societies in the area of operation of this bank is whole Distt. Patiala. Membership of the bank as on date is 493 societies.