Vikas Urban Co-operative Bank Niyamitha, comes under Non-agricultural credit structure, registered under Karnataka Co-operative Societies Act 1959 and Rules 1960 on 17-08-1996 and got license for Banking by Reserve Bank of India on 25-02-1997.

With this, Bank started functioning on 22nd April 1997, with a Share Capital of Rs. 21.44 lakhs and 1865 members. A humble to build a new and their own Bank in Yellapur town came true. As on 31-03-2023 the Bank has 10645 members with a share capital of Rs. 748.13 lakhs and more than 22000 customers reflect the growth of the Bank.

Bank starts its functioning in entire revenue taluk of Yellapur as its area of operation and extended its area of operation in due course and at present the area of operation of the Bank is confined to entire Uttara Kannada, Belgaum, Dharwad, Haveri, Shimoga and Udupi Districts.

MANAGEMENT

The Bank has a good management committee with 19 Directors and 2 Professional Directors. Almost all the powers to run the bank are bestowed upon the Board under the guidance and directions of Co-operative Department as well as Reserve Bank of India. The Board is taking active participation in making overall policy decisions about the working of the bank. It meets once in a month and reviewing the monthly progress and lays down rules for its working and exercises overall supervision over the functioning of the Bank.
Apart from this there are Sub-committees in the Bank.
They are named as

1) Executive Committee
2) Audit Committee
3) Staff Sub Committee
3) ALCO Committee
3) Large Fruad Monitoring Committee
3) Recovery Committee

All the matters relating to admission of the members, rejection of the members, sanctioning of loan proposals etc is reviewing in Executive Committee. Audit Committee meets on quarterly basis and reviews the accounts, Bank Statements, Reconciliation statements, Loan portfolio (includes movement of Non-Performing Assets, Priority sector lending, CD Ratio etc). Investment portfolio etc. Staff Sub Committee meets on a regular basis to review performance of the staff like achievement of target, staff accountability, training etc. ALCO Committee meets on quarterly basis and reviews the Asset Liability Management. Large Fraud Monitoring Committee meets on qurterly basis and review the position. All the decisions taken in all the sub committees will be ratified in the next coming Board Meeting. Hence, Board of Directors of the Bank are taking active participation in making policies.

DIGITAL BANKING

The Bank is fully computerized with Core Banking. Bank has its own Data Centre and Disaster Recovery Centre for smooth business operations and business continuity. The following Digital Banking Services are rendering by the Bank.