The Ismailia Co-operative Bank Limited and the Masalawala Co-operative
 
 Bank Limited came into being in the 1930s. Eventually, Diamond
 Jubilee 
 Co-operative Bank Limited merged with Ismailia Co-operative Bank
 Limited. 
 Subsequently in 1981, Ismailia Co-operative Bank Limited was
 amalgamated 
 with Masalawalla Co-operative Bank Limited to form the Development 
 Co-operative Bank Limited. Citi Cooperative Bank Limited later merged
 with 
 Development Co-operative Bank Limited, which thereafter was converted
 into 
 a joint stock banking company, the Development Credit Bank Limited on
 May 
 31, 1995.
 
 In the 1990s there were about 1400 co-operative banks in India and a
 few 
 of these co-operative banks were given permission by RBI to convert
 into 
 scheduled commercial banks. Development Co-operative Bank was one of
 
 11 such banks that converted themselves into scheduled commercial
 banks. 
 Vide their resolution dated January 28, 1995, the shareholders of
 Development 
 Co-operative Bank resolved to register as a limited company within
 the meaning 
 of Sections 566 of the Companies Act. Development Credit Bank Limited
 was 
 granted the certificate of incorporation under the Companies Act and
 the license 
 to carry on banking business under Section 22 of the Banking
 Regulation Act, 
 1949 on May 31, 1995. At the time of its conversion to a limited
 company under 
 the Companies Act, the Bank had a capital of Rs.73.34 million and net
 worth of 
 over Rs.1000 million.
 
 Since its conversion into a scheduled commercial bank, the Bank has
 over the 
 years expanded its operations beyond the states of Maharashtra,
 Gujarat and 
 Andhra Pradesh into the states of, Goa, Haryana, Karnataka, Tamil
 Nadu, Union 
 Territories of Daman and Diu & Dadra & Nagar Haveli and the National
 Capital
 Territory of Delhi. Today, it has a network of 67 branches, 5
 extension counters 
 and 101 ATMs across the country.
 
 The terms of the banking license issued to the Bank under Section 22
 of the 
 Banking regulation Act stipulated, amongst others, that:
 
 a) the Bank must comply with the Guidelines on Entry of Private
 Sector Banks 
 dated January 22, 1993 issued by the Reserve Bank of India;
 
 b) on the date of conversion, the unimpaired value of the paid up
 capital and 
 reserves of the Bank together with the share application money
 received by it 
 should not be less than Rs.1000 million; 
 
 c) the Bank must make a public issue of its equity and arrange to
 have its 
 shares listed on stock exchanges immediately after one year of its
 operations;
 
 d) the Bank must comply with the priority sector lending norms of 40%
 as 
 applicable to private sector banks; and that
 
 e) the Bank must ensure that not less than 25% of its branches are in
 
 rural/semi-urban areas within three years of its operations.
 
 The Guidelines on Entry of Private Sector Banks which chalk out the
 scheme 
 for permitting the entry of new private sector banks, prescribe, in
 relation to such 
 a new private sector bank that:
 
 a) the new bank may be listed in the Second Schedule of the Reserve
 Bank, 
 1934;
 
 b) shares of the banks should be listed on stock exchanges;
 
 c) voting rights of the shareholders of the bank shall be governed by
 the ceiling 
 of 1% (now increased to 10%) of the total voting rights as stipulated
 in Section 
 12(2) of the Banking Regulations Act;
 
 d) the new bank must not have as its director any person who is a
 director of 
 any other banking company or of companies which are entitled to
 exercise 
 voting rights in excess of 20% of the total voting rights of all the
 shareholders of 
 the banking company as laid down in the Banking Regulation Act,
 1949;
 
 e) the bank must achieve capital adequacy of 8% (now increased to 9%)
 of the 
 risk weighted assets from the beginning. Similarly norms for income
 recognition, 
 asset classification, and provisioning will also be applicable to it
 from the beginning. 
 The bank must also comply with the single borrower and group borrower
 exposure 
 limits that will be in force from time to time;
 
 f) though the bank must comply with the norms for priority sector
 lending, some 
 modification in the composition of the priority sector lending may be
 considered by 
 the RBI for an initial period of three years;
 
 g) the bank may be issued an authorised dealer’s license to deal in
 foreign 
 exchange when applied for;
 
 h) it shall be governed by the policy that banks are free to open
 branches at 
 various centres including that banks are free to open branches at
 various centres 
 including urban/metropolitan centres without the prior approval of
 the RBI once 
 they satisfy the capital adequacy and prudential accounting norms.
 However, to 
 avoid over-concentration of their branches in metropolitan areas and
 cities, a new 
 bank must open rural and semi-urban branches also; and that 
 
 i) such a new bank must make full use of modern infrastructural
 facilities in office 
 equipment, computer, telecommunications etc. in order to provide good
 customer 
 service.
 
 2007
 
 - Development Credit Bank Ltd (DCB) has appointed Mr. D E Udwadia as
 an Additional Director of the Bank.
 
 
 2009
 
 - Development Credit Bank Ltd (DCB) has appointed Mr. Suhail Nathani
 as an Additional Director of the Bank at the Meeting of the Board of
 Directors of the Bank held on January 29, 2009.
 
 - Development Credit Bank Ltd (DCB) has appointed Mr. Murali M
 Natrajan as an Additional Director of the Bank w.e.f April 29, 2009.
 Further, pursuant to approval of the Reserve Bank of India, Mr.
 Murali M Natrajan has been appointed as Managing Director (MD) & CEO
 of the Bank for a period of three years from April 29, 2009.
 
 2010
 
 -  DCB Appoints Mr J.K Vishwanath as Chief Credit Officer.
 
 - Development Credit Bank Ltd. and ICICI Lombard GIC Ltd. in
 Bancassurance partnership.
 
 -  DCB  received permission  to open two Semi-Urban / Rural branches 
 in 
 Gujarat.   The locations are Netrang, a Rural branch in Bharuch
 district and Mandvi, a Semi Urban branch in Surat district.
 
 2011
 
 - Development Credit Bank (DCB)  inaugurated its newest branch in 
 Gujarat  at  Vadodara . The branch is located  at  Ground floor of
 Startrek Building, Opposite ABS Tower, OP Road, Vadodara. 
 
 - DCB Bank inaugurates 81st branch at Mandvi, Surat District,
 Gujarat.
 
 - DCB presents Aga Khan Hockey Tournament May 15, 21, 2011.
 
 2012
 
 - Development Credit Bank Ltd has informed BSE regarding updates on
 Capital raising plan - QIP issue and preferential issue.
 
 - DCB Bank inaugurates new branches in Itarsi and Pipariya, Madhya
 Pradesh.
 
 -DCB Bank and ITZ Cash launch Freedom Pre-Paid Card.