M.P. State Coop. Bank Ltd. had been registered on 02/04/1912 (Under Cooperative Act 1912, dhara 2) at Jabalpur naming “Provisional Cooperative Bank Ltd. Central Provinces brar”, later on its Head Office has been transferred to Nagpur. Bank has started its operations with the initial capital of Rs.5.00 lakhs aiming to provide finance in the field of Agriculture. Earlier individual shareholders were nominated as the representatives on the board of the Bank, to provide the democratic status to the Bank; maximum share has been transferred to cooperative societies and District Central Cooperative Banks, which started a movement to form a Board of Apex Bank with the representatives from Members Cooperative Institutions. Source: apexbank.in