Genesis

On January 24^th 1999 a group of eminent people assembled at Dilsukhnagar and decided to start a Co-operative bank under the Chairmanship of Late Sri. Ageer Indrasena by raising a share capital of Rs. One Crore from 2000 Share Holders. As a result Model Co-operative Urban Bank was formulated at Dilsukhnagar.

Main principles of the Bank were good customer service, transparent management and helping the economically weaker section in improving their financial state by providing loans for self employment schemes.

Bank is located on the main road of Durganagar, which is adjacent to Dilsukhnagar Bus depot. It is in between Depot and Rajdhani Theatre. The aim of the bank is to extend quality service and develop confidence in the minds of customers.

Model Bank is licensed by Reserve Bank of India wide its Permission Number AP 1628P and Register of Co-operative societies wide its Registration Number TB NO.496 Dated 24/1/1999.

The Model Co-operative Urban Bank Limited is located in a well Developed Commercial and Residential area of Dilsukhnagar, Near Bus Depot. The Bank is graded as “B” grade Bank and it is being managed by Experienced Business persons and Ex-Bankers. The Bank has been functioning without compromising the spirit of Co-operative principles, while at the same time striving to assimilate and implement newer methods of work Organization and Management, with a firm commitment to its objectives.

Registration and Commencement of Bank Operations

The Model Co-operative Urban Bank Ltd. (popularly known as Model Bank) was registered as a Primary Co-operative Urban Bank on 24.01.1999. The Bank has commenced its operations on 14th August,2000.