The Visakhapatnam Co-operative Bank Ltd. (VCBL) marked its 110th anniversary with grand celebrations in Visakhapatnam. Founded in 1916, VCBL has grown from a single-branch unit into one of the country’s leading cooperative banks.
The year-long celebrations, running from February 15, 2025, to February 15, 2026, will extend across Andhra Pradesh and Telangana, commemorating its legacy and contributions to the sector.
The milestone event, held at VMRDA Children’s Arena, was attended by over 800 dignitaries, including prominent cooperative leaders, legislators, and banking professionals.
The event commenced with the hoisting of the Cooperative Flag and was moderated by Chalasani Raghavendra Rao, Chairman of VCBL and Director of the National Federation for Co-operative Urban Banks & Credit Societies (NAFCUB).
Laxmi Das, Chairman of NAFCUB, and Manam Anjaneyulu, former Chairman of VCBL, were among the distinguished guests who inaugurated the event by lighting the ceremonial lamp.
Chairman Raghavendra Rao highlighted the bank’s journey, crediting its founders and the visionary leadership of Sri Manam Anjaneyulu, who led the bank for three decades.
He emphasized the bank’s role in supporting the underprivileged through cooperative principles, ensuring access to financial services for marginalized communities.
Laxmi Das underscored the cooperative sector’s critical role in India’s economic development, noting its contributions of up to 20% of GDP in several countries.
Various legislative members, including MLAs Vishnukumar Raju and Konathala Ramakrishna, lauded VCBL’s impact on economic growth and financial inclusion. Industry leaders from other cooperative banks, such as The Kakinada Co-operative Town Bank and Gooty Co-operative Bank Ltd., praised VCBL’s resilience and contributions to the cooperative movement.
VCBL has planned extensive outreach programs, academic interactions, and seminars throughout its 110th year to raise awareness of the significance of cooperative banking.
With technological advancements and continued stakeholder support, VCBL aims to further its mission of inclusive financial empowerment and strengthen India’s cooperative banking sector.
