About Us

Learn about our history and work
Home > About Us

About Us

The Bank was registered by Assistant Registrar , Cooperative Societies, Panipat on 25.05.1979 under the policy of Reserve Bank of India with a meagre share capital of Rs. 2950/- and 118 members. The Reserve Bank of India granted licence U/S 22 of the Banking Regulation Act 1949 on 10.10.1984 for the commencement of Banking Business. The bank started its Banking Business on 25th March , 1985 and it was formally inaugurated on 12.04.1985 by Sh. Chiranji Lal Sharma , the Member of Lok Sabha from Karnal Constituency that time.

Multi State Bank

The Bank was converted/ registered as Multi State Cooperative Bank on 14/05/2019 under the provisions of MSCS Act, 2002 by the Central RCS, Govt of India, New Delhi by extending the Area of Operation of the Bank to entire state of Haryana and Delhi. At Present, the Bank is one of the largest Urban Co-Operative Banks in the state of Haryana, New Delhi, Punjab, Himachal Pradesh and J & K serving with 20 branches & 18 ATMs serving in Haryana and Delhi.

a

Team of Experts

The Panipat Urban Co-Operative Bank is the only bank in Haryana in Cooperative Sector which is computerized since 01.04.1997 resulting , accuracy ,efficiency and qualitative services to the customers. The Reserve Bank of India, Urban Banks Department Chandigarh has also recognized our bank as Model Bank in the state of Haryana and success story of our bank has also been sent to other banks to follow our bank’s heritage.

General Features

  • The Bank’s BOD is comprised of eminent professionals who provide leadership and guidance to a strong multi skilled management team.
  • The expertise of BOD’s professional management and dynamic leadership of Sh. OP Sharma(Founder & Advisor) helps our Bank to record the tremendous progress every year.
  • Sh. OP Sharma (Founder & Advisor) of the bank was awarded by Chief Minister of Haryana, first prize in excellent work in co-operative sector.
  • Our Bank is built on trust and fairness.
  • Our greatest Asset : The patronage and trust of the people from all castes, creeds, and religions made us progress steadily year after years.
  • The PUC Bank place services to clients as its primary objective. It aims to hold clients and resolve their problems, if any and leads to the satisfaction  of clients.
  • Our Bank provides all types of account facilities, i.e: C/A, S/B,FD,RD, Loans,CC,OD. All these accounts are maintained computerized.
  • Our Bank is fully equipped to provide locker to its clients immediately on demand.
  • Our Bank has Zero Net NPA.
  • The statutory audit of the bank is conducted by the Chartered Accountants every year however , the audit of Balance Sheet is also undertaken by the Chartered Accountant on the annual basis for the purpose of income tax .
  • Concurrent Audit is also conducted by the Chartered Accountant having an experience of more than 15 years .
  • The Audit Report is considered by the Audit Compliance Committee periodically and rectification of irregularities is complied with.
  • The bank’s management ensures the compliance of RBI Directives , guidelines ,provisions of loan policy and instructions of RCS.
  • The inspection of the bank is also conducted by the Reserve Bank of India , Inspecting Team on regular intervals.
  • The compliance of audit report and RBI inspection are submitted to the quarters concerned within stipulated period . All types of statutory returns of RBI are timely furnished.
  • Monthly meeting of all Branch Managers is conducted to review the procedures ,deposit mobilization , recoveries , Loans & advances , KYC , overdues and profitability of their respective branches.
  • The bank is classified in “A” category on the basis of audit classification performa issued by RBI.
  • The Managing Director of the bank, Sh. Vikas Sharma pays physically visits on alternative days to the branches to supervise and scrutinize the loan applications and other day to day working .
  • The staff of the bank is regulated under the provisions of Staff Service Rules which are duly approved by the Central RCS.
  • The Staff members (inclusive of Branch Managers ) are transferred to other branches so as to maintain transparency in the working of the bank and to avoid any kind of discrepancy due to any particular staff person.
  • The eligible staff members are deputed to obtain training from CAB, RBI/Vamnicom, Pune and other workshops organized by the RBI/NAFCUB from  time to time .
  • The copies of various circulars from RBI are provided to the Branches to make awareness of changes from time to time .