Reserve Bank Employees Co-operative Bank Ltd, Bengaluru started as a Co-operative Society in the year 1955 with less than 100 members. The Society attained the status of a primary Co-operative Banking institution on June 06, 1968. Since then the Bank has maintained a constant healthy growth and obtained the license from Reserve Bank of India on August 08, 1981.
The Bank has lived up to the expectations of its members and has taken giant strides by adapting itself to the changed policies of the urban banking sector. In order to meet the growing financial needs of the members the co-operative bank increased the credit limits periodically. Presently, the total credit limit for an individual member is Rs.20.00 lakh. The Bank has obtained approval from the Registrar of Co-operative Societies for grant of Housing Loan and Education loan to its members and the same will be introduced shortly, at affordable rates of interest.
Bank has also introduced various schemes such as Members Benevolent Fund, Retirement Benefit Deposit, Common Good Fund, Death Relief Fund etc., for the welfare and benefit of members. The Bank is also exploring to provide help to the needy children/institution under its Corporate Social Responsibility scheme.
In order to provide better customer service, the Bank was fully computerized from January 1997 and Core Banking Solution (CBS) was enabled from April 2014. The bank also provides NEFT/RTGS for quick fund transfer and also CTS clearing facilities to its members and customers. The Bank is also in the process of providing ATM facility to its members. The Bank would continue to offer the best possible customer service and strive to adapt to the changes in the co-operative sector.