About us


Tagore & Cooperative Movement

Rural reconstruction is a significant part of Gurudeva Rabindranath Tagore’s educational thoughts and experiments. Gurudeva believed that Indian education would be imperfect without the knowledge of the rural India. With this view Sriniketan was established by him as a centre for rural reconstruction, which still remains an indispensable part of Visva-Bharati. Gurudeva always believed in the unity and harmony of minds, and this idea was behind his efforts of rural reconstruction with the aim of developing rural co-operative systems. In his words “There is the fear of poverty. It can be countered if we stand and act in a group”.

To learn to live in harmony seems to be one of the major aims of Tagore’s educational philosophy. Keeping this idea in mind Visva- Bharati was established with the motto ‘Yatra Visvam Bhavatyekanidam’(where the entire world makes its home in a single nest). To achieve that harmony, according to Gurudeva, unity of people is required at the grass root level, to be able to stand and act in a group, encounter any problem whether it is social, economical or political. The co-operative system, according to Tagore, is primarily based on this principle of ‘togetherness’.

Community development is an extremely relevant issue in the present time. Health facilities, well-developed sanitation system, educational facilities, economic development etc. are considered important factors for the community advancement for which a very well organized co-operative system is perhaps the most important requirement. Hence, the Co-Operative System in the social domain is becoming more and more important today. Almost all countries of the world have started putting considerable emphasis on initiating co-operative activities. In India also various policies have been adopted from time to time to improve the Co-Operative system, mainly in the rural areas.

Almost one hundred years ago Gurudeva Rabindranath Tagore felt the need of introducing such a system for the development of the rural areas of the nation. With this idea, in 1927, the Co-operative System was introduced in Visva-Bharati to support activities in the adopted villages of Sriniketan.

History of development of the Society

The Bank ran its office within the side bag of the Secretary containing an exercise book only prior to the University of Visva -Bharati could provided one room at the Patha Bhavana office building. Then the Bank started to take loan from the Birbhum District Central Co-operative Bank Ltd. with an interest @17% p.a. and used to issue loan to its members @19% p.a. The Bank started its deposit schemes like recurring deposit, small savings deposit on around 1990 and started to issue loan by its own fund. The load of work of the office increased and the office required more manpower. The Board of Directors in 1988 decided and recruited four full time employees. After introducing the schemes like fixed deposit, cash certificate and monthly income schemes etc. the own fund of the Bank increased which helped to decrese of interest on loan. On the other hand gradual increase of own deposit helped the Bank to increase the amount of term loans and the Bank employed three more full time employees.

In 2002 the Bank constructed its own building on the land allotted by Visva- Bharati on lease hold basis, at the entrance of Visva-Bharati campus. The number of members of the Bank increased over 1500. The Bank installed its own Software System by the help of Synergic Softek Solutions Pvt. Ltd., Kolkata. The services to the members became easy, smooth and quick with the help of the computer system. At present the Bank became self-dependent enough to provide various Loans to its members without any outsourcing. As per the act and rules of Reserve Bank of India, the nomenclature of Visva Bharati Co-operative Bank Ltd. started its service as ‘Visva Bharati Co-operative Credit Society Ltd.’ from 06th September, 2014. After evaluating the various activities the Govt. of West Bengal awarded the Society with ‘ Samavay Ratna’ on April,2017.

The Society completes its final account on regular basis and gets it audited by the co-operative auditor, of Govt. of West Bengal. As per the Co-operative Act and Rules the Society conducts Annual General Meeting within the stipulated period. The Society pays satisfactory dividend and a gift to the members every year. In the last financial year the Society able to allowed Interest Subversion of 1(one) % to the loaner members.

The Society built a furnished, specious meeting room and a large Conference Room with all modern facilities at the 1st floor of its own office building. The Society provides the Conference Room to its members and to other Co-operative Societies with minimum maintenance cost for various Academic and Administrative purposes.

The Society is going to organize an International Seminar on the theme ‘The vision of Rabindranath Tagore on Co-operative Society and Community Development’ on 18-19th August,2017. The Society will also organize a craft fair in the same event to promote the craft of the local Co-operative Societies.

As we are sharing the geographical location of Visva Bharati University, dreamed by Gurudev Rabindranath Tagore, we are extremely proud to continue our journey by following his footsteps ”Where the mind is without fear and the head is high”, we aim to reach the highest level of commitment and dedication by providing hospitality to all our members along with the greater community.

© Visva Bharati Cooperative Credit Society Limited