Brief History
The Nayagarh Central Co-operative Bank Ltd. was established by the Raja Sahib and Ruling Chief of the Nayagarh Ex-State in 1940 as “THE STATE BANK OF NAYAGARH” to cater the credit need of rural area. After merger of Nayagarh Ex-State in Orissa State and having got independence, the Bank was converted to “NAYAGARH CENTRAL CO-OPERATIVE BANK LTD.” registered under the Bihar Orissa Co-operative Societies Act, 1935 on 30.03.1949 bearing Registration No.92PU/1949. The Bank was also renamed as Nayagarh District Central Cooperative Bank Ltd. on formation of Nayagarh District.
As per Bye-laws Provision No.1 the area of operation of the Bank has been extended to the Ex-State areas of Nayagarh, Daspalla, Khandapada, except the areas merged with the Cuttack District. After abolition of the State and delimitation of boundaries of Revenue Division and Blocks the area of operation of the Bank is co-terminus with the following Blocks. The entire geographical area of Ranpur Block did not come under the area of operation of Nayagarh District on formation of District. Correspondences were made but no fruitful step was taken by the Government on merger of all societies of Ranpur Block even though the revenue areas were merged with the Banks in the State. This step will be more conducive for better progress of the Bank.
(a) Nayagarh Block
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(b) Daspalla Block
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| (c) Khandapada Block |
(d) Bhapur Block |
| (e) Nuagaon Block |
(f) Odagaon Block |
| (g) Gania Block |
(h) Some Panchayat of Ranpur Block |
At the initial stage the Bank was functioning from Head Office and subsequently Branches were opened at different potential areas for smooth and easy flow of credit at the doorstep of the rural agriculturists and artisans through affiliated PACS. |
