The SAS Nagar central Cooperative Bank Ltd., SAS Nagar was registered on 12/09/2006
under The Punjab Cooperative Societies Act, 1961 with Regd. H. O. at SCO 66, Phase
- 2, SAS Nagar. This bank started its functioning w.e.f. 01/01/2006 as Principal
Financing Institution of the Cooperative Movement in the SAS Nagar Distt. It covers
whole of the district consisting of 3 tehsils namely SAS Nagar, Kharar & Dera
Bassi. At present, 21 branches including H. O. are functioning in district SAS Nagar
and catering to financial needs of the people at their door steps.
The bank is working under CBS (Core Banking Solution) project; all the branches
(including H. O.) are fully computerized. The IFSC code of the bank is UTIB0SAS001
and the bank is also providing facilities like RTGS/NEFT and with the help of IIN,
it becomes easy to make AADHAR linked payments directly into the accounts of customer.
The bank helps in promoting the rural development programmes launched by the government
from time to time and helped a lot in bringing the Green Revolution. This bank is
classified as "A" class (as on 31/03/2015) as per statutory audit.
The bank is in the process to take 10000 sq. ft. area on lease for its head office
and the branch in the convention centre being constructed on land owned by PICT,
Chandigarh at Sector - 70, SAS Nagar.
At present, the head office of the bank is located in the rented building at SCO
- 66, Phase - 2, SAS Nagar.