District Cooperative Bank Ltd Ayodhya is now official


Ayodhya: On the proposal of the Cooperative Minister of the state, the Reserve Bank of India has issued a banking license on 31 May 2024, amending the name of District Cooperative Bank Ltd., Faizabad to District Cooperative Bank Ltd., Ayodhya.

As a result, the bank is being operated under the name of District Cooperative Bank Ltd., Ayodhya from 31 May 2024. This information has been given by the State Minister of State for Cooperation (Late Minister)  JPS Rathore.

He informed that the name of the existing district Faizabad was changed to District Ayodhya by the Government of Uttar Pradesh on 23 November 2018. The Cooperative Minister informed that District Cooperative Bank Ltd., Faizabad was established on 14 August 1906.

After 117 years of the establishment of the bank, the name of the bank was amended as Ayodhya. The jurisdiction of the bank is in the district Ayodhya and Ambedkarnagar. The bank is providing banking services in urban and remote rural areas of both the districts through 15 branches in Ayodhya district and 9 branches in Ambedkar Nagar district.

He informed that the headquarter of the bank is located in Court Compound Ayodhya. At present it is fully computerized and working on CBS platform. The bank is providing other facilities including RTGS/NEFT and ATM to its customers. The bank is providing crop loan to the farmers at minimum interest rate through Kisan Credit Card.

As 2023 drew to a close, it was a year of significant job opportunities for the nation’s unemployed youth, with numerous government companies and banks, such as NABARD and BHEL, issuing recruitment notifications for various positions. The National Investigation Agency (NIA) recently initiated a recruitment drive for the posts of Inspector and Sub-Inspectors, adding to the array of job openings.

Anticipating a substantial surge in recruitment, the cooperative departments and institutions are expected to play a pivotal role in providing job opportunities in the upcoming year. The government is set to release recruitment notifications once the total number of vacancies is determined. Presently, an estimated 5,000 positions remain vacant in the Uttar Pradesh Cooperative Bank, with an additional 50 posts each in District Cooperative Banks and the Uttar Pradesh Cooperative Rural Development Bank. Further, around 20,000 personnel are projected to be recruited in Primary Agricultural Credit Societies.


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