The Udaipur Urban Co-operative Bank Ltd (UUCB) is the result of an initiative taken in 1972 by a group of Dawoodi Bohra reformists from Udaipur who felt the need to establish a financial institution in Udaipur district for meeting the requirements of its public. An application for registration was filed by this group on June 28 that year. Registration was issued on August 3, 1972, under the Rajasthan State Co-operative Act (registration number 1557 Y). The institution initially started off with 456 members and a share capital of Rs 3 lakh. On January 4, 1975, on completion of about three years, it was issued the license for banking business by the Reserve Bank of India.

UUCB first began its operations from a shop in Loha Bazar. In 1979, it shifted location to a new premise on Pannadhay Marg which housed both the head office and branch. Today, the bank has a plush head office at 9C-A Madhuban, having moved to this new building in 2004. The head office is located on the first floor while a branch is operational on the ground floor.

UUCB now proudly operates out of 13 branches spread over two districts – Udaipur and Rajsamand. Ten of them are within the city and three outside – at Fatehnagar, Salumber and Rajsamand.

For years now, UUCB has proved itself a pioneer on several fronts and created a niche for itself in the urban co-operative banking sector of Rajasthan. It has led from the front in terms of banking services, client satisfaction, customer loyalty and top notch security.

The management of the bank has based its workings on the following principles:

• To ensure customer satisfaction and confidence.
• To enhance business and achieve its objective through smart banking and a broad investment policy.
• To strengthen its corporate social responsibilities and give back to society in a fulfilling way.
• To fully and unconditionally comply with RBI guidelines, co-operative department rules and banking norms.

In keeping with RBI guidelines, the management of the bank is overseen by an elected board of directors. They are prominent members of society with a professional orientation and include:

• Well known businessmen and social workers.
• Personnel associated with social, religious, charitable and educational organisations.
• Professionals from field of banking and auditing.

The teamwork, ensuing from a professional board and an experienced banking staff, results in an increased shareholder confidence and thereby sustained growth.