M.C.C. Bank, which has a history of 113-years, has achieved an excellent progress in the banking sector. Ever since its inception, the bank, being the only community bank, has been playing a major role in the economic prosperity of the community in particular and the society in general. The bank has been a catalyst in the economic development in the twin districts of Dakshina Kannada and Udupi districts where its 18 branches are functioning. We have come up with new branches at Brahmavara and Belthangady after a gap of around 22 years. The Bank has now increased its area of operation to the entire state of Karnataka. Apart from providing all the banking services, the bank has also been contributing generously from its Charity Fund to help the institutions/organizations for the noble causes.
M.C.C. Bank’s total deposits amount to Rs. 670 crore, total loans and advances stand at Rs. 515 crore, and the total business has reached Rs. 1185 crore. as on 31st March, 2024, the working capital of the bank was Rs.752.95 crore, and the share capital was Rs. 31.21 crore. The bank’s NPA ratio has improved to 1.12%, showing a significant reduction in NPA. The bank’s capital adequacy ratio, which exceeds the RBI’s minimum requirement of 9%, stands at 23.06%, indicating a healthy financial position. The bank has been continuously rated as ‘A’ grade bank by the auditors appointed by the RBI, demonstrating its strong financial health.
M.C.C. Bank, with its history, marks a significant achievement as Shri Anil Lobo, became the first bank’s president to be awarded “Sahakara Ratna” by the Government of Karnataka. This recognition reflects the bank’s progress over the last six years.
The last meet was conducted in the year 2022 on 30th December at Hotel Ocean Pearl under the leadership of Shri Anil Lobo and the management. The response from our esteemed NRI customers was huge and has helped us in increasing not only our customer base but also reflected a hike in total NRE deposits of 9.21 crore over a period of just two years.
Among the Urban Cooperative sector in Karnataka, only two banks are permitted to open NRE accounts by the Reserve Bank of India and out of which, our bank is the first Urban Cooperative bank in the state of Karnataka to obtain permission for carrying on NRE banking business. However, Urban Cooperative banks are not permitted to open NRO accounts.
The NRE account is an Indian rupee-denominated account, offering complete security. These accounts can be in the form of savings, current, recurring, or fixed deposits. The foreign currency you deposit into the account is converted to INR. You can transfer your funds (Principal & Interest amount) to a foreign account from an NRE account without any complications and restrictions. You need to note that the amount you deposit into these accounts must be earned outside India. NRE account is primarily used for carrying out business, personal banking and making investments in India.
The bank is having a separate NRI banking department located at the Administrative Office with a dedicated NRI Manager to provide special attention and personalized service to our esteemed NRI customers, who are availing the NRI banking facility from our branches.
The Bank is currently offering various products under NRE deposits with an attractive rate of interest. The NRI’s can now invest in NRE Deposits and get the best returns. It just doesn’t end here, our NRI customers can avail debit card facilities as well.
We offer Education Loans at a competitive rate of 9.25%, which is the best in the industry. We lend for the purchase of Cars and SUV’s @ 9.50% with a maximum repayment period of 84 months (7 years).
Safe Lockers are available at very competitive rates starting from Rs.1,200/- p.a.
MCC Bank Ltd. premiere Bank in the coastal region of Karnataka is now all set to organise its NRI Meet 2024 which will be held on 30.12.2024 at Hotel Ocean Pearl, Pacific Hall 01 & 02, Navabharath Circle, Kodialbail, Mangaluru.
While the Bank expresses gratitude towards the esteemed NRI customers for their whole hearted support and kind patronage, it invites them cordially for the NRI Meet 2024. The NRI’s who wish to avail the products and facilities at MCC Bank are also welcome.
For more information or queires, please contact NRI Department via email at
