The erstwhile South Kanara district has the unique reputation of being a cradle house of banks. Several Banking Institutions which were born in this district grew as national and global level banks. The district is the home district of the stalwart of Cooperative movement Late Molahalli Shiva Rao.
Cooperative Banking was in existence in Dakshina Kannada district since more than 100 years. Urban Cooperative Banks were traditionally centered on communities, lending to small borrowers, invariably members. Gradually the scope of operations of Urban Cooperative Banks has widened and UCBs have opened up banking access to the people, especially in urban and semi urban places. Thus UCBs reduce banking exclusion and foster economic ability of the financially underprivileged community of people, comprising middle and low income households in urban and semi urban areas. In the present day banking scenario, Urban Banks have developed themselves with strong and deep rooted presence. In Karnataka state, there are about 250 Urban Cooperative Banks operating under the dual Regulatory control of the Reserve Bank of India and the Registrar of Cooperative Societies.
The origins of Vishwakarma Sahakara Bank can be traced with the erstwhile ‘The Mangalore Goldsmiths’ Cooperative Society Ltd’ which was promoted by D.K. district Chinnada Kelasagarara Sangha ® comprising membership of skilled artisans, goldsmiths engaged in gold craftwork. ‘The Mangalore Goldsmiths’ Cooperative Society Ltd’ commenced business on 11.05.1976, made steady progress and consolidated itself by garnering savings among the members in general and the skilled goldsmith workers in particular. The principles and ethics of cooperation, followed by the Mangalore Goldsmiths’ Cooperative Society paved the way for promotion of more thrift among the members and in turn, more financial support to the members by way of credit. Over a period of more than 25 years of activity as a Credit Cooperative Society, The Mangalore Goldsmiths’ Cooperative Society grew from stature to stature and became eligible for banking license under the Banking Regulation Act. In the year 2000, eminent visionaries among the members and the Board of Directors of ‘The Mangalore Goldsmiths’ Cooperative Society’ took initiative to procure Banking License from the Reserve Bank of India under the spirited guidance of a great visionary, i.e., Sri Huchachari, the then Special Duty Officer in the Department of Cooperation, Government of Karnataka. By virtue of relentless efforts of such visionaries, ‘The Mangalore Goldsmiths’ Cooperative Society secured Banking License from the Reserve Bank of India under Banking Regulation Act 1949 on 12.10.2000 and came to be registered as Vishwakarma Sahakara Bank Ltd.
Ever since securing banking license, Vishwakarma Sahakara Bank Ltd. widely called as “NAMMA BANK”, has made steady progress and grown to its present day stature of a leading Tier-2 Urban Cooperative Bank. As per the audited balance sheet as on 31.03.2024, the bank has aggregate deposit of Rs.226.89 crore, paid up capital of Rs.10.08 crore and reserves and surplus of Rs.7.60 crore. The main features of the bank are: