A Study on Financial Performance of Futuristic Trends of Urban Cooperative Banks in India

Tamil Nadu is the pioneering State in introducing the Cooperative Movement for uplifting the poor and downtrodden (Government of Tamil Nadu: 2013-14 p.24). The State of Tamil Nadu, which was formally called Madras Province, takes pride initiating the cooperative movement in this country. In Tamil Nadu, UCBs were organized after their enactment of the Cooperative Credit Societies Act 1904. Tamil Nadu can be at its to pride to the fact that the “first urban bank, called “Kancheepuram Urban Cooperative Bank” was established at Kancheepuram. The Cooperative Credit Societies Act of 1912 permitted the registration of federal Institutions and in 1917, there was a special provision made for the admission of cooperative societies as members of the bank. Under 1919 Administrative Reforms Act, cooperatives were made as Provincial subject making each Province responsible for cooperative development. The Madras Cooperative Societies Act of 1932 was the first piece of legislation in the State, later it was amended in the year 1961 and again in 1983 as Tamil Nadu Cooperative Societies Act 1983 which came in to force from 4 April 1988