The Gandhidham Co-Operative Bank Ltd., was set up by Late Shri Bhai Pratap Dialdas founder of Adipur Gandhidham Township, with the motto of granting small loans to Sindhi Community who, migrated from Pakistan, for purchasing house/shop and setting up their livelihood.
The Bank was registered under Bombay Co-Op. Societies Act VII of 1925.
The Bank started its business on Tuesday, 17th April 1951 with late Shri Dewan Daulatram Bulchandas Chairman and Late Shri P. C. Kripalani as Manager of the Bank.
The First Board of Directors of the Bank was as under:
- Late Shri Devan Daulatram Bulchand - Chairman
- Late Shri Bhai Pratap Dialdas - Director
- Late Shri Kishinchand Pritamdas Shahani - Director
- Late Shri Madhavdas Savialomal - Director
- Late Shri Hotchandrai Pritamdas Vasandani - Director
- Late Shri Roopchand F. Mansukhani - Director
Late Shri Bhai Pratap Dialdas also served as the Chairman of the Bank in the year 1956.
Late Shri M. Ganapati Development Commissioner, Kandla Port Trust, inaugurated the Bank Branch Office at Gandhidham on Friday, 06th November 1953.
The Bank earned its first profit of Rs. 4,497.28 (Rs. Four Thousand Four Hundred Ninety-Seven & Paisa Twenty Eight) in the year 1977 and it has been in profit, continuously every year since then.
From its humble beginnings in wooden cabins, the Bank now operates from fully owned, fully computerized, centrally air-conditioned premise at Adipur and Gandhidham.
Annual General Body Meeting:
The first AGM of the Bank was held on 30.11.1952.
Initially, the Bank issued its shares at a face value of Rs. 5/- (Rs. Five only) each and the same was called up in two installments of Rs. 2.50 (Rs. Two and Paise Fifty only). Over the years face value of the Bank share has enhanced and it stands at Rs. 50/- as on date.
The Bank distributed 1st dividend to its shareholders in the year 1981 at a rate of 9% per annum and over the years the Bank has paid dividend at the rate of 15% per annum (max permissible as per Govt. rules).
Comparison of Deposits
(Amount in Lakhs)
|Deposits||Rs. 0.76||Rs. 25,023.79|
|Advances||Rs. 0.48||Rs. 9,830.20|
|Share Capital||Rs. 0.23||Rs. 641.38|
|Number of Shareholders||158||9866|
|Profit (-)||(-)0.034||Rs. 535.61|