knowmyifsc.com

The Haryana State Co-operative Apex Bank Ltd., commonly known as HARCO Bank, was established in November 1966, shortly after the formation of the state of Haryana following the bifurcation of the erstwhile state of Punjab. It was registered under the Haryana Cooperative Societies Act, 1984, and later received a license from the Reserve Bank of India (RBI) to perform banking functions. Operating as a cooperative bank, it is a financial institution owned and controlled by its members, distinguishing it from both public sector and purely private commercial banks. Its foundational mandate was to strengthen the cooperative movement by providing robust financial support to the agricultural sector and rural communities across the state.

The bank occupies a vital and systemic position within the Indian financial structure, specifically as the Apex Bank for the short-term cooperative credit structure in Haryana. It operates a three-tier system: HARCO Bank at the state level, 19 Central Co-operative Banks at the district level, and hundreds of Primary Agricultural Credit Societies (PACS) at the village level. This extensive network is crucial for financial inclusion, serving millions of members and playing a primary role in financing farmers, rural artisans, agricultural laborers, and entrepreneurs. HARCO Bank's contribution to rural credit and the state economy has, at times, led to its performance being recognized as the best State Co-operative Bank in the country.