The Bhavnagar state was merged with the old state saurashtra in the year 1948.At that time there were 217 registered societies and these registered societies were active. The state was perusing the loan of Rs.2000\ At that time normally 217societies had 7500 member having total deposits of Rs 6,00,000. As well as the advance to the members ware Rs 10, 00,000.
The co-operative activities got more developed. When the Mumbai state co-operative Act came In to the action in the Saurashtra State in the year 1949 In Bhavnagar the Gohilvad District co-operative Bank was established in the year 1949 and the banking activities came to the deal. In the year 1954 The saurashtra state cooperative bank was established at Rajkot having a working office. to develop the cooperative activities parallel the gohilvad dist. co-operative bank was merged with the saurashtra state co-operative bank and then after the banking transaction were being processed through 14 branches of the Saurashtra State co-operative bank.
According to recommendation of the Indian Government’s Rural credit survey to develop the co-operative activities as well as to manages the co-operative societies through the bank by the delegate who are aware of the position and matter of their district and with consensus of RBI THE BHAVNAGAR DISTRICT CO-OPERATIVE BANK Ltd. was established on the date of 24-04-1959 and took the deal by assigning the management of the 14 branches of the SAURASHTRA State Co-operative Bank.
This bank has been dealing financial transaction by the finance in the form of shares deposits as well as the loans by the NABARD (National Bank for Agricultural and Rural Development.) and G.S.C.(Gujarat State co-operative) Bank Recently this bank has completed 56 year and entered into 57 year and having 90 branches throughout small villages, towns and providing facilities of farm and non-farm advances to the farmer members the societies and other nominal members of the bank. After this entire bank is affiliated With total 1391 societies including the 626 agricultural societies as well as 800 non- agricultural till the date of 31-03-2015.
The primary purpose of this bank is to provide finance with lowest interest rate of the each and every fellow of the undeveloped villages through the cooperative societies and let the poor. People to be developed themselves by being out of the Burdon of borrowing. Thus, this bank is trying to spread and develop its business by increasing its cooperatives activities even to the complex and awkward villages with success and moves forward with trust and hop to connect more and more people with the cooperative actives. More over during the year 2006-2007 and 2007-2008only rare bank of Gujarat was pursuing advance with only the interest rate of 7% and this bank was top in the list of that banks. Till the date the advance with the lowest rate of 7% is being offered by this bank within the rules and regulation of NABARD Nowadays this bank is doing its business by gathering deposit from the public and getting other finance from G.S.C. as and when needed by following norms and rules under NABARD.
This bank had performed important role when The Welfare Cooperative Bank broke in the liquidation. This Bank undertook its management with assuring the deposits by insurance and had paid the money back to the customer to stable the faith and trust of the people in the cooperative activities.