In a major breakthrough for Karnataka’s urban cooperative banking sector, Sirsi Urban Sahakari Bank has secured multi-state status approval from the Reserve Bank of India (RBI), paving the way for its expansion into neighbouring Goa, located barely 40 km from its headquarters.
As per information available with Indian Cooperative, Sirsi Urban Cooperative Bank has become the first urban cooperative bank from Karnataka to secure multi-state status, following Maharashtra-based Hasti Cooperative Bank, Dhule, which achieved the distinction in May 2026.
The development marks an important milestone in the bank’s expansion journey, as it prepares to take its cooperative banking services beyond Karnataka and establish a presence in Goa.
The bank is now planning to convene a Special General Meeting (SGM) to complete the necessary formalities and obtain members’ consent for the proposed expansion. Thereafter, the required proposal and documents will be submitted to the Central Registrar of Cooperative Societies (CRCS), Ministry of Cooperation, for the remaining statutory approvals and necessary NOC.
Once the formalities and requisite clearances are completed, the bank will be able to move ahead with its proposed operations in Goa, opening up fresh opportunities to expand its customer base and strengthen its geographical reach.
Commenting on the achievement, senior cooperative banking leader Satish Marathe lauded the bank’s efforts and congratulated its leadership on securing multi-state status.
He described the development as an encouraging milestone for the urban cooperative banking movement, demonstrating how cooperative institutions can explore new geographical markets while building on their established legacy.
The development also comes at a time when the RBI and the Union Ministry of Cooperation are taking steps towards strengthening the cooperative banking ecosystem and facilitating smoother regulatory processes. Such initiatives are creating fresh opportunities for cooperative banks to expand their operations and enhance their outreach.
Founded in 1905, Sirsi Urban Cooperative Bank is among Karnataka’s prominent Urban Cooperative Banks, with a legacy spanning over 120 years. Originally established as the Sirsi Rural Cooperative Credit Society on December 21, 1905, it became an Urban Cooperative Bank in 1913. Over the decades, it expanded its operations across Uttara Kannada district, adjoining districts and Bengaluru.
The bank’s proposed entry into Goa could also serve as an encouraging example for other urban cooperative banks in Karnataka and neighbouring states seeking to expand beyond their traditional geographical boundaries.
