Genesis

Andhra Pradesh Mahesh Co-operative Urban Bank Limited is India's premier Urban Co-operative Banking Institution. The Bank has attained this premier position without compromising the spirit of co-operative principles, while at the same time striving to assimilate and implement newer methods of work organisation and management, with a firm commitment to its objectives.

The principal object of the Bank will be to promote the interests of all its members to attain their social and economic betterment through self-help and mutual aid in accordance with the Co-operative Principles.

The objects of the Bank shall be to engage in any one or more of the forms of business enumerate in Section 6 as amended by Section 56 of the Banking Regulation Act, 1949 and in particular to carry out the following forms of business:

• To do banking business on Co-operative Principles by accepting for the purpose of lending or investment of deposits of money from members as well as the public, repayable on demand or otherwise and withdrawable by cheque, draft, pay order or otherwise.
• To raise funds by issue of shares and/or any other securities as permitted by the Regulatory Authority.
• To encourage thrift, self-help and co-operation among members.
• To prevent members from falling into permanent indebtedness and to assist them financially in times of difficulty and to help them to get out of debt.
• To engage in any one or more of the following forms of business namely:
  (i) The borrowing, raising or taking up of money;
  (ii) The lending or advancing of money to members either upon or without security;
  (iii)The drawing, making, accepting, discounting, buying, selling, collecting and dealing in bills of exchange, hundies, promissory notes, coupons, drafts, bills of lading, railway receipts, warrants, certificates, scrips and other instruments and other securities whether transferable or negotiable or not;
  (iv)The granting and issuing of letters of credit, travellers` cheques and circular notes and to do all forms of foreign exchange business;
  (v) The buying, selling and dealing in bullion and species on behalf of member customers;
  (vi)The acquiring, holding, issuing on commission, underwriting and dealing in stock, funds, shares, debentures, debenture stock, bonds, obligations, securities and investments of all kinds;
  (vii)The purchasing and selling of bonds, scrips of other forms of securities on behalf of constituents or others, the negotiating of loans and advances.
  (viii)The receiving of all kinds of bonds, scrips and valuables on deposit or for safe custody or otherwise;
  (ix)The providing of safe deposit vaults;
  (x) The collecting and transmitting of money and securities;
  (xi) Acquiring and holding and generally dealing with any property or any right, title or interest in any such property which may form the security or part of the security for any loans and advances or which may be connected with any such security;
  (xii) Carrying on and transacting guarantee and indemnity business, on behalf of the constituents in the ordinary course of banking business and to provide necessary cash margin to facilitate such business;
  (xiii) Opening Branches, Extension Counters and Sub-Officers or any Office and ATM centers or to have arrangement of ATMs of other Banks etc. as per the norms of the Reserve Bank of India.
  (xiv) Subject to the previous approval of the Central Registrar establishing and supporting or aiding in the establishment and support of associations, institutions, funds, trusts and conveniences calculated to benefit members, employees, ex-employees of the bank or the dependents or connections of such persons granting pensions and allowances and making payments towards insurance, subscribing to or guaranteeing monies for charitable benevolent object or for any exhibition or for any public, general or useful object;
  (xv)Undertaking and executing trusts, undertaking the administration of estates as an executor, trustee or otherwise, with the previous permission of the Central Registrar;
  (xvi)The acquisition of land/buildings, construction, maintenance and alteration of any land/building or works necessary or convenient for the purposes of the Bank;
  (xvii) To act as Insurance Agent as per norms of RBI and IRDA;
  (xviii)To promote one or more subsidiary institutions which may be registered under any law for the time being in force for the furtherance of its stated objects;
  (xix) Any other form of business which the Central or the State Governments may specify as a form of business in which it is lawful for a banking institution to engage;
  (xx) Doing all such other things as are incidental and conducive to the promotion or advancement of the business of the Bank
• To amalgamate with another Bank with same or similar objects;
• To engage in Credit/Debit cards;
• To do merchant banking business;
• To takeover another society with similar object;
• To develop market information system, logo brand promotion, quality control and technology up gradation;
• To enter into participation, consortium arrangement with bank/s or financial institutions with objects of making loans and advances;
• To act as agents for collection of moneys of various government quasi government and statutory bodies.