At a time, when the Cooperative Banks functioning under the control of the Cooperative Department which were hesitant to extend sufficient loans to the Industrial Cooperative Societies the Tamil Nadu Industrial Cooperative Bank, known as TAICO Bank was established on 18.9.1961, with an objective of providing loans to the Industrial Cooperative Societies.
This Bank has been recognized by the Reserve Bank of India for providing credit facilities in the State under the NABARD Refinance Scheme through the Tamil Nadu State Apex Cooperative Bank.
This Bank extends financial assistance to the Micro and Small enterprises and also provides jewel loans, housing/house mortgage loans to the general public and personal loans to the salaried employees of Government Departments and Public Sector undertakings.
Besides, the TAICO Bank extending jewel loans, housing / house mortgage loans to the General Public, personal loans to the Government employees of all sectors, short term loans and over draft facilities to SSI and tiny units etc are also provided.
The Bank having its Head quarters at Chennai is functioning throughout Tamil Nadu with its 47 branches.