Concurrent Auditor

The beginning of the Kerala State Co-operative Bank Ltd dates back to early 20th century. In the year 1914, the then Maharaja of Travancore, His Highness Sree Moolam Thirunal Ramavarma, through a proclamation introduced The Travancore Co-operative Societies Regulation Act. The Bank was registered in the year 1915 as the Trivandrum Central Co-operative Bank which was the first Cooperative Society to be formed in the former princely State of Travancore . It started functioning as a Bank on January 18, 1916 with a share capital of Rs.1,00,000 /- made up of 1000 shares of Rs.100/- each. In the beginning there were 16 Co-operative Societies and 69 individuals as its members.

In 1943, it was converted into the Travancore Central Co-operative Bank, giving it a federal character of the Travancore State. In the wake of Indian Independence and the reorganization of States, the Bank was re-organized as a State Co-operative Bank for Travancore-Cochin State in the year 1954. In the year 1956, the reorganization of Indian States took place and the State of Kerala was formed. The Bank was then elevated to the position of State Co-operative Bank for the State of Kerala and it became The Kerala State Co-operative Bank Ltd. At that time, the Bank had a working capital of Rs.42.90 lakhs, deposit of Rs.30.33 lakhs and loans and advances to the tune of Rs.21.66 lakhs.

The Kerala State Co-operative Bank was registered and retained as an Apex Bank in which only Co-operative Banks approved by the Registrar of Co-operative Societies were admitted as members. Since then the Trivandrum District Co-operative Bank and the Government of Kerala were the only members. Subsequently after the formation of the Districts, District Co-operative Banks were registered in each District and all the District Co-operative Banks were admitted as members.

In July 1966, the Kerala State Co-operative Bank Ltd was included in the 2nd Schedule of the Reserve Bank of India Act 1934 . The Reserve Bank of India as per the provisions contained in the 2nd Schedule of the Act approved the Bank as a Scheduled State Co-operative Bank. The Kerala State Co-operative Bank Ltd is the first Scheduled Apex Co-operative Bank in the Co-operative Banking Sector in the country. In 1972 it was issued a license to carry on the business of Banking under Section 22 of the Banking Regulation Act ,1966. The Bank is a financing bank as defined in the Kerala Co-operative Societies Act ,1969 is a Co-operative Society having its members only other Co-operative Societies. The bank is doing the business of banking within the frame work of rules/regulations/guidelines stipulated by Reserve Bank of India and National Bank for Agricultural and Rural Development (NABARD).