About usThe evolution of Vikas Bank, a progressive cooperative institute from Hospete, Karnataka, began its remarkable journey in 1997. By blending traditional values with modern technology, Vikas Bank was recognized as the "Best Co-operative Bank" in 2012. With 27 years of dedicated service and 18 branches across the state, Vikas Bank remains committed to fulfilling the financial needs of the community and contributing to India's economic growth by empowering individuals and businesses alike.
HistoryThe success story of the bank is a living testament to how youth power, energy, imagination, and creativity can contribute to society. The journey of Vikas Bank started from a small dream of like-minded friends to the proud moment of becoming a prestigious co-operative bank, which is both curious and inspirational.
A group of socially-minded youths from Sindhanur in Raichur district came together to form the "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 also carried out the activities of the Youth Club in Hosapete..
Later, in the mid-90s, the liberalization policy of the Reserve Bank of India paved the way for the opening of banks in the co-operative sector (Urban Co-operative Banks). Thus the end result was the birth of Vikas Bank at Hosapete in the year 1997. As of today, the 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 sector at that time were as follows:
Due to developments in the co-operative sector, a few co-operative banks faced the threat of liquidation, causing concern among members, depositors, and the 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 the merger of Vikas Bank is considered unique in the state. Thus, the contribution of Vikas Bank to the development of the co-operative sector is one of the most appreciable efforts. With this experience and a strong objective, the bank again accepted the merger of The Bidar Mahila Urban Co-operative Bank Ltd. in 2022.
The Reserve Bank of India has permitted the extension of the bank’s area of operation to the entire state.
Mision & VisionMission
Ethical business practices based on the lofty mission and values of the co-operative sector to meet the economic needs of the people while effectively fulfilling the social responsibility.
Vision
To be a progressive bank with a strong brand, enhancing the Bank’s value through excellence in technology, performance, and good governance.
Arya Digi Banking