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Profile & History

A Humble Start

Shivalik Mercantile Co-operative Bank Ltd. was registered as a Co-operative Society under Uttar Pradesh Co-operative Societies Act, 1965 in 1997. It was granted the license to conduct banking business as a Primary Urban Co-operative Bank in the district Saharanpur by Reserve Bank of India in September, 1997. The Bank started operations on 5th September, 1998 and has registered constant growth since then. Presently the bank is rated amongst the best Urban Co-operative Banks in the state.

The First Multi-state Bank of U.P.

Subsequent to achieving a deposit base of more than Rs. 100 crores on 31st March, 2010, the bank was recognized as a Tier-II bank and was allowed to extend its area of operation to entire state of Uttar Pradesh. The bank has constantly been endeavouring to expand and had taken over an Urban Co-operative Bank by the name of Bhoj Nagrik Sahakari Bank Maryadit at Dhar, Madhya Pradesh. As a result of this merger, which was effective on 1st November, 2010, the bank was de-registered from the state Government (UP Co-operative Societies Act, 1965) and was re-registered under the Central Government (Multi-state Co-operative Societies Act, 2002) under the overall control of the Central Registrar of Co-operative Societies, Ministry of Agriculture & Co-operation, New Delhi. Shivalik Bank thus became the first Multi-state Urban Co-operative Bank of the state of UP.

Mergers and Acquisitions

Continuing the saga of inter-state expansion, Shivalik Bank again took over a weak co-operative bank, Malwa Commercial Co-operative Bank Ltd. in Indore, MP. The merger was made effective on 1st September, 2012. Thus Shivalik Bank got a second branch in the state of Madhya Pradesh.
The Bank is fully computerized under CBS environment and has twenty one branches at present, out of which twelve are located within District Saharanpur, one each at Meerut, Muzaffarnagar and Khatauli; two each at Ghaziabad and Noida, and one each at Indore & Dhar in Madhya Pradesh.

Quality of Management

The Bank is managed by a Board, which is well diversified, reputed and experienced in their field. The Board comprises persons from all walks of society viz. Industrialists, Agriculturists, Traders, Professionals, Chartered Accountants, Retired Senior Bank Personnel etc. The phenomenal growth & excellent reputation of the bank is much accredited to the personal reputation and fame enjoyed by its Chairman & the Board of Directors, apart from the professional management style of the Bank.

The bank has its head-quarters at Saharanpur, which is located at the junction of UP, Uttrakhand, Haryana & Himachal Pradesh. The population of District Saharanpur is approximately 34,66,382 as per census 2011. The main activities include trading, agriculture, handicrafts & small industries. Saharanpur is famous for its wood carving work and wooden articles are exported all over the world from here. Some very reputed industries like I.T.C. and Star Paper Mills Ltd. are also located here. Besides these, Saharanpur is a major rail junction on Mumbai - Delhi - Howrah, Howrah - Amritsar and Ahmedabad - Delhi - Dehradun rail routes.  There is one more rail line - Saharanpur - Shamli - Delhi available here to connect the city with National Capital.  Important govt. establishments situated in Saharanpur include Posts and Telegraphs Training College, Remount Training School and Depot, Air Force Station Sarsawa. From administration point of view, Saharanpur is the Head Quarter of Saharanpur Commissionery comprising of Saharanpur, Muzaffarnagar and Shamli districts.  Saharanpur is also known the world over for Ma Shakumbhari Devi Shrine and Darul-uloom, Deoband. 

A few of our major achievements are as follows:


The Bank has maintained highest norms of account keeping and has been very prompt in finalizing its annual accounts and getting it audited. The bank feels pride that the Balance-Sheet of the bank is ready on 1st of April every year after finalizing annual accounts.

The IT awareness is very high in our bank. This is also due to the fact that the Chairman and the CEO of the Bank are engineering graduates and are past technocrats having work experience with M/s Hindustan Aeronautics Limited and M/s Tata Consultancy Services respectively. The bank tends to manage its business in a very professional and transparent manner. We are regularly publishing our results/policies/ interest rates/charges etc. on our website apart from displaying them in our branches.

All the senior personnel of the bank are IT conversant and make extensive use of technological communication modes such viz. email and video conferencing, which enables fast and cheap communication. The bank is gradually moving towards the 'paperless office' concept.  Green economy is yet another buzzword at Shivalik Bank. Shivalik Bank has taken up the project of installing solar panels to empower its ATM cabins at all branches.  Many branches have already completed the project while remaining are doing it at war footing.  Similarly, Green PIN is our another initiative. 

Technology Initiatives & Innovation

We have professionalized our management by having full computerization, and by employing well-qualified staff. We have successfully implemented 'Core Banking System', thereby providing any branch banking to all our customers for which we have opted world's premier vendor - FIS to provide us CBS solution. At one time our bank was the first fully computerized bank of District Saharanpur. Further the installation of CBS and use of technology has also enabled the bank to provide Internet Banking to its customers. Very soon, Mobile Banking is also going to be launched.

The Bank is successfully connected to the country-wide ATM network, 'Rupay' managed by NPCI. As a result, the customer of Shivalik Bank can use their ATM cards not only at our own ATMs but also at the ATMs of all other banks in India. Incidentally, all branches of the bank are  equipped with ATMs and cash deposit machines.

Shivalik Bank is the first cooperative bank in Northern India to offer Debit Card facility to its card holders.  Shivalik Bank's ATM-cum-Debit Cards are accepted at all merchant establishments offering shopping through 9.53 lac Swipe Machines.  Bank is also offering PoS machines to those merchant establishments who are its Current Account customers. 

The bank is also participating directly in the RTGS/NEFT transactions. We are connected with RBI on Cloud technology.  The bank constantly looks forward to innovations in banking. Apart from participation in RTGS/NEFT network, the bank has arrangements with leading private commercial banks for issue of 'at-par cheques' to facilitate remittances for its customers and for speedy collection of outstation instruments of its customers.

An I.T. department has also been set up at the Bank and frequent trainings are provided to the I.T. team to keep them updated with the latest developments in technology and procedures. 


Within a short span of about 17 years, the total business of the bank has grown to approximately Rs. 1300 crores with the deposits at Rs. 809.06 crores, the advances at Rs. 602.22 crores and investments at Rs. 212.34 crores. The Owned Funds of the bank have grown from Rs. 15.50 lacs as on 5th September, 1998, the bank's opening day, to a net worth of more than Rs. 61.22 crores as on 31th March, 2016. This shows the trust our shareholders and the public have in the bank.

The Bank has been in profit from the very first year of its working and has shown constant growth. The bank has continuously been paying a dividend of 12% to its members till the year 2015. The share of Government or large institutions in the deposit base of the Bank is very little. The Bank relies on the trust and confidence that individual investors have placed in it. As a result the customer base of the Bank has well exceeded 1,00,000 in number.

Regulatory Compliance

The Bank has been strictly following the guidelines issued by RBI in all of its operations and the working of the bank was highly appreciated by the officials of RBI during the course of RBI inspections, the latest being in April, 2012. The Inspection reports received from RBI have been highly satisfactory and very appreciative of bank's overall performance. The Bank neither makes any investments in the shares/debentures nor does it give any advances against the security of shares/debentures i.e. the exposure of the bank towards share/debentures market is Nil.
The Capital to Risk Assets Ratio of the bank, has constantly remained more than 12% and presently is 13.85% as on 31.03.2016.

The bank has successfully met the targets for maintenance of SLR through investments in Government and Approved Securities as per RBI norms and has not defaulted even for a single day.

The Bank is regularly maintaining the required ratio of 40% of total financing to Priority Sector. In fact, the major thrust of the bank has been on priority sector advances with the happy result that our priority sector advances were much above the targetted percentage of priority sector advances. 

Financial Inclusion

The bank is pioneering in the Co-operative Sector towards efforts made for Financial Inclusion. We have taken a great initiative by starting micro-finance to self-help groups. To run this efficiently we have entered into partnership with an NGO - Janhit Foundation, Lucknow, which provides livelihood development trainings to members of SHG apart from training them in better money management. Almost all members of these groups are women belonging to BPL category with many groups inhabited by women belonging to minority community.

The bank has linked more than 7000 SHGs comprising app. 95,000 individuals to its microfinance program. The total amount disbursed by the bank to these SHGs is approx. Rs. 40 crores as on date. The SHG portfolio of the bank is increasing at a rapid rate.

The bank has initiated a program to appoint BCs in rural areas to provide banking services to rural masses and has already opened 12 BC offices in Saharanpur, Meerut and Noida and in Indore. ATM-cum-CDM machines have been provided at all branches and BC offices by the bank.