Mayurbhanj Central Co-operative Bank

Mayurbhanj Central Cooperative Bank came in to existence with its founder President HH Maharaja Sir Shri PRATAP CHANDRA BHANJ DEO and got registered under Orissa Cooperative Societies Act on 31.01.1951 with Regd. No 28MB. The Bank started its functioning from 25.07.1951 with Sri Lambodar Dandpat, ARCS, as its President (Ex-Officio) and Sri Bhagirathi Nanda as its first Secretary having its head quarter at Baripada. The district has a total population of 2,513,895 of which there are 1006 females for every 1000 males (census 2001). During the last 73 years, the Bank has witnessed many ups and downs and survived the ravages of time and continued to exist to serve the people of Mayurbhanj.

Equipped with a total cultivable land of 4,47,214 hectares, Mayurbhanj is known for a high growth of paddy. Thus the economy of the district is basically Agri-based and mainly dependent on monsoon. Lack of infrastructure in both Agriculture and Industrial Sector has been reflected in the economy of both the district and the Bank. The Bank is a pioneer of Cooperative Movement in the district as regards purveying of agriculture credit and till to day the lion’s share of agriculture credit in the district is issued by this Bank, notwithstanding the fact that, so many Commercial Banks and RRBs has been opened in the district in the meantime.

The MCC Bank is the 1st premier Cooperative Bank in the state getting license from R.B.I. on Dt. 05.02.1981 to carry on Banking business all over India and started functioning w.e.f. Dt. 28.07.1951 with the sole aim of providing financial assistance to rural poor of this tribal dominated District by adopting poverty alleviation program in general and priority sector financing in particular having it headquarters at Baripada and area of operation to the whole of the Mayurbhanj District. There are 15 branches operating at different places in the district of Mayurbhanj. Besides, an extension counter for Ladies is also operating at Baripada H/O. Out of the 15 branches, till date, there are 5 ATM Counters within 5 different branches.

Bank had successfully faced the crisis arises out of economic globalization in the nineties and entered in to the electronics era by adopting computerization with active guidance and needful support of Orissa State Cooperative Bank, in the year 2003. After some initial hesitations, Bank is taking its step forward to coup up with the latest development in the Indian Financial System and the third generation Banking concept with the active participation, cooperation and goodwill of its stakeholders.

Area of Operation

The MCC Bank operates throughout the district of Mayurbhanj with 15 branches. The District consists of 3945 Nos. of villages, 382 Nos. of G.Ps., 26 Nos. of Blocks and 4 Nos. of Revenue Sub-Divisions. All Sub-Divisions are covered under Tribal Sub-Plan area and 4 nos. of I.T.D.As. are functioning in the District. Mayurbhanj, The biggest District of the State has 10418 square K.Ms in geographical area of which 4005 square K.M. covered by forest which constitute 38.4% of the total area. The Similipal Forest Range constituting Similipal Biosphere Reserve with all its flora and fauna in a large way, affects the climatic condition, general living condition and economy of the people residing in the District. Nearly 66.4% of the District’s Labour force earns their lively hood from agriculture. Besides, Sal Leaf plate/ cup making and Sabai Rope making provided occupation to around 30% of the population. Only 28.6% of the net cropped area is having irrigation facility. Predominantly a rice grown area, Farmers are slowly switching over to cash crops such as groundnut, vegetables etc. Similarly, there is growing preference among farmers for inland pisciculture and horticulture crops. The District does not have an industrial base worth mentioning although it is well known for its mineral base. The District has a sizeable SC and ST population and most of them are below poverty line.