The Textiles Manufacturers’ Co-operative Bank Limited is the outcome of the acumen, fore thinking and vision of Shri. K.C.PUTTAIAH, elder of Devanga Community, an industrialist and Ex. Director of Vijaya Bank to provide a financial institution to the people of devanga community for thrift and financial assistance for their trade and other necessities.

Initially, a credit co-operative society was founded on 13 Th November, 1963 with a membership of 15. Common membership of 156 and meager deposit of Rs. 1.46 lakhs. Later, in the year 1963 the Society was converted into a Bank after securing necessary license from Reserve Bank of India.

The Textiles Manufacturer’s Co-operative Bank Ltd., over FIVE DECADES has rendered customized service to the Silk Manufacturers. The Bank celebrated its Silver Jubilee during 1988-89 with pomp and gaiety. The celebrations were graced and blessed by the great sage, the walking God of Siddaganga Mutt Dr. Sri Sri Sri, SHIVAKUMARA SWAMYJI and Sri. Dr. D. VEERENDRA HEGGADE, Dharmadhikari of Sree Kshetra Dharmasthala.

The Bank, which was functioning in a rented premises shifted to its own building named as ‘RAJATHA BHAVANA on 29-08-1988 while celebrating ‘SILVER JUBILEE’.

After the regime of Sri. K.C. Puttaiah, there was a setback in the functioning and growth of the Bank. At this juncture, Sri. K.P. VASUDEV took over the reigns of the Bank in April 2010.

Sri. K.P. VASUDEV, who is none other than the illustrious Son of Sri. Late. K.C.Puttaiah, the founder Chairman of the Bank, continues to be the Chairman of the Bank. Being a scion of the family has been able to bring back the past glory and status to the Bank. His achievements are narrated below:

• The Bank is fully computerized to provide better services to the customers keeping in view the latest trend.

• Increase of Loans to Silk Manufacturers for conduct of their textile business and others.

• Obtaining MICR code and adopting CTS 2010 Cheques with IFSC Code which is vital for any entrepreneurship. These facilities were not available earlier to the customers.

• The Bank has established tie-up arrangement with INDUSIND BANK and secured sub-membership with the said Bank for collection of local and out-station cheques.

• Social service activities, which were hitherto not obtaining in the Bank is now introduced and conducted eye-checkup camps, health checkup camps and the women folks health aspects.

• Training and guidelines were provided to the Staff of the Bank to provide knowledge for accomplishing their work and providing better service to the members/customers.

• Re-introduction of dividend payment, which underlines the financial strength of the bank, after a gap of 15 years.

• Introduction of electronic funds transfer facility through NEFT and RTGS as are available in commercial banks for the benefit of the customers.

• Financial Growth during five years:

(Rupees in lakhs)