History of Shri Rajkot District Co-Operative Bank Ltd.

After India's independence in 1947, 217 princely states of Kathiawar,

including the former kingdom of Junagadh, were merged to form the state of Saurashtra on 15 February 1948.

Initially, it was named United State of Kathiawar which was renamed to SAURASHTRA STATE in November 1948. The exercise took up a lot of Shri SARDAR Vallabhbhai Patel's time to convince the local princes and petty subas (totalling 222 in Saurashtra alone).

The capital of Saurashtra State was Rajkot. Uchharangray Navalshankar Dhebar, who became Saurashtra's first Chief Minister. He was succeeded by Rasiklal Umedchand Parikh on 19 December 1954.

To cater Banking need of the SAURASHTRA STATE, An Apex Bank was form in 1951. It was named as “The Saurashtra State Co-Operative Bank ltd.” was registered on 15/10/1951 under the Saurashtra State Co-operative Act, vide Reg. No:15/10/51 dated 15/10/1951 and commence banking business on 04/05/1952 and continue till 1959.This Bank was functioning as an Apex Bank of Saurashtra, representing entire SAURASHTRA STATE i.e. Rajkot, Jamnagar, Junagadh, Surendranagar, Bhavnagar, Kutchh, having 73 branch office in entire SAURASHTRA STATE.

Dissolution:

On 1 November 1956, Saurashtra State ceased to exist as a State and became a part of Bombay State, the territory of which was enlarged on that day to include Kutchh State, Saurashtra State, Marathwada & Vidarbha, while a southern portion was excluded, which went to Karnataka.

The Bombay State was again dissolved on 1 May 1960 to be carved into two separate State of Maharashtra & Gujarat created on linguistic basis. With this the area of Saurashtra State again became a geographically defined region, Saurashtra, within the State of Gujarat.

Reorganisation of Bank:

The Registrar, Cooperative, Bombay State, held two meeting of the committee consisting of the representative of Central cooperative Financing Institutes, working in the state, the first meeting was held at PUNE on 06/05/1957 and second meeting at BOMBAY on 27/05/1957 – The Idea/ Purpose of the meeting is “ONE STATE, AND ONE APEX BANK as well as ONE DISTRICT, ONE CENTRAL CO-OPERATIVE BANK” was born in this meeting.

As a result of the meeting, It was accepted that Central cooperative bank be established on the District Basis on or after 31/12/1957 in the Bombay state.

As a result of these reorganisation activities, “The Saurashtra State Co-Operative Bank ltd.” is ceased to exist as a APEX BANK of SAURASTRA STATE and new Central Co-operative Bank named as “THE RAJKOT DISTRICT CENTRAL COOPERATIVE BANK LTD.” was borne on 15/05/1959, vide registration no: 24940 dated 15/05/1959 and having 9 branches in the RAJKOT District area. The other remaining branches of the Saurashtra State co-operative Bank Ltd. is transferred / amalgamated to other respective district of central co-operative bank.

To cater banking service in a district by considering financial position and various activities conducted, RBI has granted BANKING LICENCE to the bank, vide Licence No: RPCD.AHM/55-C dated: 14/09/1994.

Again Bank management has decided to change name of the Bank as “SHRI RAJKOT DISTRICT CO-OPERATIVE BANK LTD.” at the AGM dated 25/06/2006 vide resolution no: 9 and approved by RCS-vide letter no: 23/08/2006. In that context, RBI has issue fresh Licence no: RPCD(AH) 15/2011-12 dated: 25/06/2012.

Since then, this bank is known as “ Shri Rajkot District Co-Operative Bank Ltd.” ie. General public call this bank as “JILLABANK”.