West Bengal State Coop Bank

The West Bengal State Co-operative Bank (WBSTCB) is an Indian provincial co-operative bank based in Kolkata. Its primary area of operation is to provide agricultural loans. It also includes a range of services to the sector, including locker facilities, bank guarantee, bills, letter of credit, insurance, ancillary services, deposit schemes and loan schemes.

The West Bengal State Co-operative Bank Ltd.
Native name
পশ্চিমবঙ্গ রাজ্য সমবায় ব্যাংক
TypeCooperative bank
IndustryFinancial services
Founded1918 (1918)
Headquarters
Kolkata, West Bengal,
,
India
ProductsBanking
Websitewww.wbstcb.com

History

WSTCB was established in 1918 as the Bengal Provincial Co-op. Federation Ltd.[1] The current name was adopted in 1967.[1][2] The bank suffered a set back in 2000, when it applied to get a NABARD licence.[3] The bank had planned to expand in 2008. These plans met with set backs, with the Government holding back plans that allowed the bank to expand. [4] The bank also suffered financially when the farm loan waiver scheme, a government policy, affected the earning of the bank substantially for 2008.

In 2012, the bank endured a bank scam, losing Rs 160, prompting the Government to establish a strategy to deal with financial scams.[5] [6] [7] The bank went through en expansion of its ATM network in 2014.[8]

Operations

The WBCCB is registered as a provincial co-operative federation. Its primary area of operation is to provide agricultural loans. It also includes a range of services to the sector, including locker facilities, bank guarantee, bills, letter of credit, insurance, ancillary services, deposit schemes and loan schemes. The Bank is based in Kolkata, West Bengal. [9]

References
  1. "West Bengal State Co-operative Bank Limited-A Scheduled Bank". Wbscb.com. Retrieved 23 December 2014.
  2. "Company Profile: West Bengal State Cooperative Bank Ltd (WBSCB)" India Private Company Profiles 6 May 2011
  3. "State cooperative bank fails to get NABARD licence" The Times of India, 27 March 2000
  4. "WB State Cooperative Bank expansion plans hit" The Press Trust of India Limited, 24 March 2008
  5. "Nabard exposes Bengal co-op bank scam" The Statesman 25 November 2012, 366 words
  6. "UCO Bank lodges complaint with CBI on FD scam Business Line" (The Hindu), 20 March 2013, 443 words, Our Bureau
  7. "Bank manager nabbed for" The Telegraph, 3 May 2013
  8. "WBSCB adding ATMs, reducing NPAs" Banking Frontiers 16 June 2014, 1674 words
  9. "Company Profile: West Bengal State Cooperative Bank Ltd (WBSCB)" India Private Company Profiles 6 May 2011

Bibliography
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.