The idea of setting up a co-operative bank to extend banking services and thus bring about economic development of the people in the urban and semi-urban areas in Nalbari District (Assam) was first mooted in 1982 by the Late Prabhat Narayan Choudhury, a respected citizen of Nalbari Town and the doyen of co-operative movement in Assam. He discussed the matter on different occasions with various authorities in the co-operation department of the Government of Assam. He wrote to the local Assistant Registrar of Co-operative Societies January, 1984 seeking suggestion on the matter, and also forwarded a proposal to the Registrar in April of the same year. A number of correspondences took place thereafter between the Late Choudhury, the Co-operation Department of the Govt. of Assam, and the Reserve Bank of India. A Preparatory Committee was formed in June, 1989 under the president ship of Prabhat Narayan Choudhury. The inaugural General Meeting held in May, 1990 under his president ship unanimously adopted a resolution to set up a co-operative bank under the name and style "Nalbari Urban Co-operative Bank Ltd." Being satisfied at the fulfillment of the required conditions, the Co-operation Department registered the bank as a society under the Assam Co-operative Societies Act, the Registration No. being N/I of 1990-91 dated 25-05-1990. After compliance with further requirements for commencement of banking business, the Reserve Bank of India granted banking license No.UBD.As 1040P dated 10-05-1991. The bank started banking business on 11-09-1991 from a rented room at LNB Road, Nalbari belonging to the late Munindra Narayan Choudhury. At that time the number of shareholders was 745 and the amount of share capital was Rs.I.88 lakh. The bank has been growing with time, and at present it has 5034 shareholders and, the paid up share capital is Rs.124.10 lakh. Deposits received from public stands at Rs. 8079,08 lakh and outstanding loans stand at Rs.1972.94 lakh. The amount of net profit has also gone up to Rs.60.78 lakh as on 31-03-2021. Meanwhile, the land and building where the bank has been functioning have been purchased by the bank, and thus, at present the bank has its own premises.