The Tamilnadu Industrial Cooperative Bank Ltd., popularly known as “TAICO Bank” is the first of its kind in the Cooperative Sector in the Country for catering the needs of Industrial Cooperatives. A unique Cooperative Bank with having state wide jurisdiction, to develop the Industrial Cooperative Societies in the State of Tamilnadu.
In the year 1958, the "Working group on Industrial Co-operatives" was set up by the Government of India and recommended for establishment of a separate Bank at state level exclusively to cater the financial needs of the Industrial Co-operative societies. Madras State Industrial Cooperative Bank was organized and registered on 13.9.1961 under Tamilnadu Cooperative Societies Act which was the ‘Brain Child’ of Thiru R. Venkatraman, the then Industries Minister of Tamilnadu and latter the President of India
Commenced functioning since 1962 and catering the financial requirements of the Industrial Cooperative Sector. The Bank functions under the Administrative control of Department of Industries and Commerce. The Banks head office is functioning in its own apartment (Ground Floor) measuring 5,000 sq.ft. in the C.M.D.A. Complex, Egmore, Chennai.