The Citizen Co-operative Bank Ltd,, having its Head Office in its own Building is located in Central Delhi on Desh Bandhu Gupta Road, Paharganj, New Delhi. 110055. The bank was Registered on 3rd Jan 1979, with the Registrar of Co-Operative Societies New Delhi. The bank was allowed to carry out banking activities immediately after its registration. The aims and objectives as envisaged by Late Shri Kishan Gupta, the Founder Director, who hailed from a business family of Delhi , was to uplift the downtrodden and other peoples whose economic conditions was below the poverty line and also to tide over the financial hardships of the other class/section of the Society. The sole idea of formation of such an Institution was to cater to the Banking needs of the masses particularly those who were not able to approach the big financial institutions than. The dedication, sincerity and honesty of the members/associates under the leadership of Late Shri Kishan Gupta, the bank brought rich fruits and in less than 7 years time, it was converted into primary urban Cooperative Bank by RBI and on 14/08/1985, the RBI granted license to carry out ALL banking activities including acceptance of deposits from public (non-members) by opening their Saving, Current and RD A/c’s.
Since then, the bank promoters have not looked back and kept the bank growing over all business parameter over the years viz Membership, Total Deposits. Total Advances , Profitability as per the records. The bank has been paying rich dividends regularly in the past., the last F/Y it was 12%.
Under the bank’s Expansion Plan, the bank has been granted license to open a branch in Shahdra area by Reserve Bank Of India. Hopefully, the new branch may be opened by 2nd week of July,2016.
The bank is being run proficiently and efficiently by its Board of Director under the chairman, Mr M. L Bansal, a Leading Chartered Accountant of Delhi . The BOD is consisting of leading professionals in various field viz Chartered Accountants, Advocate and leading Businessmen, the Retired bank officers Hotliers , socialities worker etc. The Board of Directors are formulating various policies as per the guidelines of the main regulator R.B.I and also the R.C.S The policies and the guidelines as framed by the BOD are being executed and implemented by the Experienced C.E.O, Mr Azad Singh Bhadana, through its staff working under him, in letter and spirit . Our chairman , Vice – Chirmanan and the CEO have been given "Shakarita Award" by the RCS New Delhi.The functioning of our Bank under the leadership of our chairman and board of directors is very transparent . The bank has been given continuously giving dividend in the past.
Now this bank is working on core banking solution.