Question: Which of the following Co-operative Banks is considered as the first Co-operative Bank in India?
A Abhyudaya Co-operative Bank Ltd
B Ahmedabad Mercanile Co-operative Bank Ltd
C Amanath Co-operative Bank Ltd
D Anyonya Co-operative Bank
Answer: Anyonya Co-operative Bank
| Aspect | Description |
| Name of Co-operative Bank | Anyonya Sahayakari Mandali Co-operative Bank Limited |
| Location | Vadodara , Gujarat, India |
| Significance | The first cooperative bank to be established in India. |
| Year of Establishment | 1889 |
| Primary Objective | To provide an alternative to exploitation by moneylenders for Vadodara’s residents. |
| Membership Growth | Started with 23 members and Rs 76 of capital and grew to more than 23,000 shareholders by 2006. |
| Governance Structure | Administered by a group of nine board directors, with three directors elected every year for a three-year term. |
| Financial Issues and Closure | Faced financial issues in 2007, leading to its closure; efforts to merge with other cooperative banks failed. |
| Liquidation | The bank was liquidated in 2010, and its remaining assets were sold off in 2013. |
| Legal Issues in 2020 | Several individuals were arrested in 2020 for a fraud involving Rs 1.7 crore of assets deposited by the liquidators. |