Kulti is a neighborhood in Asansol in the Indian state of West Bengal. It is situated in the Asansol Sadar subdivision of the Paschim Bardhaman district. The city of Kulti lies between two great rivers ? the Damodar and the Ajay. The rivers run parallelly with the city in between, and the area is composed of undulating laterite soil. Kulti was a small village earlier but it underwent major development when the IISCO plant was set up in the area. Kulti had India?s first blast furnace that operated in the plant at Burnpur from 1875 to the 1950s. Steel was manufactured for the first time in India in open hearth furnaces in 1904 at Kulti. Spun pipes were made for the first time in India at Kulti. Kulti is an industrial township with most of its residents employed in the industrial belt in and around the city. There are a few places worth visiting nearby such as Maithon Dam, Panchet Dam, Bakreshwar, Bishnupur and Tagores Shantiniketan.
The SVC Cooperative Bank Limited is a banking company incorporated and one of the oldest Urban Co-operative Bank in India built in 1906. It was established with the primary aim of helping the less fortunate members of the community under the ambit of its economic enterprises. It was also to encourage savings and to create funds for providing financial aid to deserving members.Mr. Rao Bahadur Shripad Subbarao Talmaki was the chief architect of theShamrao Vithal Co-op. Bank Ltd. Bank. The Bank was initially registered as a Co-operative Credit Society on 27 December 1906. In 1907, cumulative deposit scheme, fixed deposit scheme and saving bank deposit were introduced by the bank. The bank in opened first Co-operative store in 1910. In 1915, the first Co-operative housing society was built in Bombay. In 1927, the Fidelity Guarantee Fund was launched simultaneously with Distress Relief Fund in 1931 and Staff Gratuity Fund in 1954. In 1964, Safe Deposit Vaults were introduced by the bank. In Fiscal 2016, the deposits of the bank crossed 13000 crores. In 2002, the corporate office was opened by the bank at SVC Tower in Vakola. In 2003, Genius I Core banking solution was implemented in all the branches of SVC bank.