Webcast: Davanagere Urban Co - Operative Bank launched on 25th feb 2012, on it's golden jubilee
Promotion of Co-operative movement is one of the directive principles of state policy. The object of co-operative movement is to attain the social and economic welfare of a large section of people belonging to the middle class, labour class and poor class by encouraging thrift, self help, and mutual aid amongst them. To achieve the said objects the merchant class of Davangere, State of Karnataka have voluntarily assembled together under the guidance of Sri K. Laxman Rao, the Deputy Commissioner of Chitradurga District on 25.11.1961 and under the leadership of Late Dr. S. Kotrabasappa, Advocate and Tax Practitioner have conducted a preliminary meeting to form bye-law of the Bank. Again on 19.12.1961 they have assembled and resolved to start a Co-operative Bank under the name “The Davangere Urban Co-operative Bank Ltd.,” Davangere. The Bank is duly registered on 15.01.1962 Under Section 4 of the Mysore Co-operative societies Act 1959. We have proud to say that our Bank is the 1st Co-operative Bank in Davangere City. The Bank first started its transaction at Narasaraja Road, Davangere in Late Dharmapravatha Hanagavadi Matada Murugaiaha’s building from the auspicious hands of late Dharmaprakashas Rajanahalli Sri Ramashetty, a famous industrialist and the owner of Davangere Cotton Mill’s ltd.,.
The Co-operation and service rendered by the founder president Late R.R. Srinivasamurthy, former Secretary late Dr. S. Kotrabasappa, first Board of Directors Late Sri Maganur Basappa, Late Sri Gundi Mahadevappa, Late Sri Chigateri Veerbhadrappa, Late Sri A.R. Govindaswamy, Late Sri Iynahalli Sannaveerappa, Late Sri S.M. Orekundi and Late Sri G.C. Subhan Saheb, is memorable and remarkable. For the upliftment of the Bank, efforts made by Sri A.M. Prabhudev, the then first manager is quite appreciable, memorable and followable. Subsequent Board of directors i.e., Late Sri Shamanur Shivappa, Late Sri J. Kadappa, Sri J.M. Basavarajappa, Sri Shamanur Shivashankarappa, Late Hasabhavi Kotrappa, Late Sri Andanur Shivalingappa, Sri Kasal Vittal, Late Sri Iynahalli Doddarudrappa, Sri Y.M. Veeranna, Sri Shmanur Kalleshappa, Late Sri T.G. Shivayogappa, Late Sri K.M. Revanasiddaiah, Late Sri T.G. Shadaksharappa, Late Sri K.M. Bakkaiah, Late Sri Andanur Kotrabasappa, Late Sri D. Shanmukhappa, Late Sri Kanchikere N. Kotrabasappa, Sri I.P. Somanatharadhya, Sri A.S. Basanth, Late Sri G.M. Shivanandappa, Late Sri H.M. Somanathaiah, Late Sri Annigeri Vishwanthappa, Sri A.C. Mallinath, Late Sri A.S. Kotrappa, Sri M.V. Vijaykumar, Late Sri Hallur Nagarajappa, Sri Devaramani Basavarajappa, Late Sri N.S. Shivayogappa, Sri Kanchikeri Virupakshappa, Late Sri D.H.M. Murugaiah, Sri A.B. Shambulingappa, Sri R. Mahendrappa, Sri Badami Rudresh and Sri Prashanth S. Aradhya, who have ensued the office have joined their co-operative hands for the improvement of the Bank. The service rendered by Ex-general Manager Sri M. Basavarajah and of Sri S.M. Kotraiah are quite appreciable.
For the upliftment of the Bank, the President Sri B.C. Umapathy, the Vice-president Sri Kogundi Bakkeshappa and the Board of Directors Sri Mattihalli Veeranna, Smt. I. Vasanthakumari, Sri Andanur Muppanna, Sri Pallagatti Shivanandappa, Sri M. Chandrashekhar, Sri T.S. Jayarudresh, Sri Devaramani Shivakumar, Sri Mundas Veerendra, Sri Ajjampur Shetru Vijaykumar, Sri Pallagatti Veeranna and Sri A.K. Rudramuni are serving the Bank. Smt. D.M. Umadevi is serving the Bank honestly as Incharge General Manager of the Bank. All the employees of the Bank are serving the Bank to the best of their ability to satisfy the needs of the customers in particular and for the upliftment of the Bank in general.
Bank started its Business transaction by collecting share amount, deposits, opening S.B. A/c’, Current A/c’s etc., from Davangere public. Formerly its service was extended to give financial aid to petty merchants, middle class, labour class, and to the poor people for the improvement of their financial position. After expansion of the business, the Bank is giving loan facility to small scale industrialists, housing loan, purchase of vehicle, godown loans by hypothecating food grains, machinery loan, gold loan etc.. Bank provided Safe locker facility to its customers.