History

The success story of the Bank is a living testimony to how youth power, energy, imagination and creativity can contribute to the society. The journey of Vikas Bank started from a small dream of like-minded friends to the proud moment of prestigious co-operative bank is a curious and inspirational.

A group of social minded youths of Sindhanur in Raichur district came together to form "Vikas Yuvaka Mandali" in 1979. In a short span of time, The Youth Club won the "State Award" for its social work. A few members of Vikas Yuvaka Mandali shifted to Hosapete town in erstwhile Ballari district to pursue their personal and professional career. These members carried the activities of Youth Club in Hosapete too.

Later in the mid 90’s the liberalization policy of the Reserve Bank of India paved the way for opening of banks in co-operative sector (Urban Co-operative Bank). Thus the end result was the birth of Vikas Bank at Hosapete in the year 1997. As on today, bank has 18 branches. The bank is recognized as one of the Model Urban Co-operative Bank of the state.

The developments in the co-operative sectors then :

Due to developments in the co-operative sectors, a few co-operative banks, came under had faced the threat of liquidation causing concern among members, deposits and public. In such a grim situation, our Vikas Bank took a bold step for merger & amalgamation of weak of The Abhinandan Co-operative Bank Ltd., Hubballi in the year 2008. This initiative of our Vikas Bank saved thousands of depositors and customers of The Abhinandan Co-operative Bank Ltd., Hubballi. This achievement of merger of Vikas Bank said to be a unique in the state. Thus the contribution of Vikas Bank in development of the co-operative sector is one of the appreciable effort. With this experience of the background and a strong objective the bank again has accepted the merger of The Bidar Mahila Urban Co-operative Bank Ltd., of Bidar in the year 2022.

Reserve Bank of India has permitted for extension of the area of operation of the bank to the entire state.