Mahalakshmi Co-operative Bank Ltd is a pioneering cooperative bank in India that was founded in 1978 with the mission to protect the interests of the weaker sections of society. The bank obtained a license from RBI in 1979 to operate as an Urban Co-Operative Bank. It has a strong presence in Coastal Karnataka with fully computerized branches and administrative offices. The bank has been able to provide 18% dividends to its 18000 members for 14 years, demonstrating its financial stability and commitment to its members' welfare. The bank is dedicated to supporting the welfare of fishermen and the development of fisheries in the Udupi and DK Districts, showcasing its commitment to the local community and economic development.
With the intention to enhance its services, the bank is venturing into new areas such as introducing ATM, Mobile Banking, and Western Union Money Transfer Services, indicating its adaptability to modern banking trends. The bank's focus on community welfare and its progressive approach to banking services position it as a strong player in the cooperative banking sector in India.
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