Genesis and mission
About WBSCB
Genesis and mission
History has kept its footmark in every fabric of evolution of The West Bengal State Cooperative Bank Ltd. What not in the evolution path of this bank- the distress of farmers in Pre-Independence days, wound of partition of India and the impact of reorganization of states after Independence.
In pre-Independence day on 19th. February, 1918 a Cooperative society in the name of “Bengal Provincial Cooperative Federation Ltd.” was registered under Cooperative Societies Act – II of 1912. The primary object of the Federation was to supply sufficient capital to the member Central Cooperative Bank so that they can assist and develop the farmer-members of Primary Societies. The area of operation of the Federation extended over whole of the then Bengal. The Federation was converted into Bankand named “The Bengal Provincial Cooperative Bank Ltd” in 1923. After Partition of India the name of the Bank was changed to The West Bengal Provincial Cooperative Bank Ltd. Another historic event came in the evolution of the Bank _ provinces were converted into states and the name of the Bank was then changed to The West Bengal State Cooperative Bank Ltd. in 1964.
- On 2nd July 1966 The West Bengal State Cooperative Bank Ltd. was enlisted in the Second Schedule of Reserved Bank of India i.e since then the Bank is considered as scheduled Bank
- During Second Five year Plan in 1956-57 Cooperative Development Programme was adopted in West Bengal. One of the Schemes of this programme was “Re-Organization & Rehabilitation of Central Cooperative Banks”. As per advice of Reserve Bank of India it was decided that 15 Central Cooperative Banks in 15 Districts with one Bank in each district and another 2 Banks with one in each Big District of 24 Parganas and Midnapore would be formed. In 1971-72 the total number of Central Bank was 21. Subsequently banksin the districts of Coochbehar and 24 Parganas were amalgamated with The West Bengal State Cooperative Bank Ltd. Today there are 17 Central Cooperative Banks in West Bengal. Three Regional Offices of The West Bengal State Cooperative Bank are working in Coochbehar, Barasat in the district of 24 Parganas (North) and Diamond Harbour in the district of 24 Parganas (South). All the 17 Central Cooperative Banks are members of The West Bengal State Cooperative Bank Ltd.
Mission
The objective of WBSCB is to promote agricultural lending in the state through the provision of agricultural finance in a systematic and professional manner. Another objective is welfare maximization by increasing the flow of resources to the underprivileged sector by integrating the priority sector with the overall domestic financial markets.WBSCB has the objective of making inroads into varied spheres of development, while retaining a focus on low-income group and related issues. WBSCB has been engaged in micro-finance lending Operations in Weaker-Section through Self Help Groups.
The Bank is to provide Banking service based on latest technology not only in Cities and Towns but also in Rural Bengal.