The Shimla Urban Cooperative Ltd is one of the oldest financial institution of undivided India. The Bank traces its origin to the Ram Nagar Cooperative Thrift & Credit Society Lahore which existed during 1900s. Though this society was registered with address of Lahore with ARCS Lahore, it actually located in Shimla (then Simla) because majority of its members were residing here. The internal turbulences during partition of India and consequent division of its area of operation between India and Pakistan, its working was badly disrupted. Thereafter, in 1956 the society was revived by the Assistant Registrar Cooperative Societies Ambala. The society was being managed by Sh. Wazir Chand Kapoor President, Sh. Ram Lal Sharma Vice President and Sh.Yogeshwar Chand Bhanot was the treasurer. At that time the area of Chandigarh was also brought under its operation. In 1957 the Society was asked to implement amended bylaws in line with Model Urban Cooperative Societies and consequently the name of the society was changed to The Ram Nagar Urban Thrift Cooperative Society.
Later in the Year 1963 this society was renamed as The Shimla Urban Cooperative Bank as registered on 17.09.1963 under the Punjab Cooperative Societies Act 1961 with its Head Quarter at Shimla and area of Corporation confined to Municipal Corporation Shimla. The registration was further transferred to the provisions under The Himachal Pradesh Cooperative Societies 1968, and subsequently Reserve Bank of India issued license to the bank vide no (CHD) HP0003P on dated September 01.2009.
