The Society came into existence on 17th July, 1947 under the leadership of Shri K.N. Bhardwaj with the name and style 'Delhi Central Electric Power Authority Employees Co-operative Thrift & Credit Society' with the aim and objective of creating the habit of saving among the members of the Society and a spirit of helping each other monetarily at the time of need out of the savings of the others so that they may not have to approach the Money Lenders for their temporary money requirements at a higher rate of interest. When the Society came into existence, 32 employees formed it. Subsequently, the name of the Society was changed to Central Power House Employees Co-operative Thrift & Credit Society in the year 1960 after the formation of Delhi State Electricity Board and thereafter the functions of the Board were transferred to Delhi Electric Supply Undertaking of M.C.D. in 1958. The working of the Society has been very slow in the beginning as upto 1965. The membership of the Society rose from 32 at the time of formation to about 380 upto 1965, with a working capital of Rs. 1,00,000/-. Moreover, the Number of Shares of the Society in respect of every Member was one and had no linking with the loan amount to be given to the Members, which could be given to the extent of Rs. 500/- and Members had to wait for loan sometimes for more than six months.
At that time, Member could draw his deposit from the Society for any number of occasions in a year leaving a minimum amount of Rs. 50/- only. The Managing Committee of the Society was thinking to improve the working of the Society and with this view some changes in the staff and office bearers were made. The accounts work at that time was being done by Sh. Dal Chand Sharma in his capacity of Part-Time Accountant of the Society. He was replaced by appointment of Sh. P.S. Chauhan, who was also elected as Treasurer of the Society. The team of the management was also changed. In the year 1970, a special scheme of Compulsory Deposit from which amount no withdrawal could be made before retirement was introduced by Sh. K.L. Sharma Secy, besides, the normal scheme of ordinary deposit which was in vogue hitherto. Though, the scheme of Compulsory Deposit was resisted in the beginning but was later on appreciated and supported by the Members. The Society thereafter got a space for the office and expanded its working by increasing the membership every year. With the increase of work, the strength of Part-Time workers i.e. Sh. Madan Lal and Sh. A.K. Puri, was also increased. The Soceity also brought its Bye-Laws in conformity with the model Bye-Laws provided in the Rules formed under Delhi Co-operative Societies Act, 1972. The name of the Society was once again changed to Rajghat Power House Employees Co-operative Thrift & Credit Society. The Society after 1965, has been in the hands of devoted members of the Executive Committee of the Society and with the devotion of the staff (part-time) of the Society, had been improving and the members and loan amount have also been increasing from time to time. At present, the loan of Rs. 4,00,000/- as Ordinary Loan and Rs. 1,60,000/- as Special Loan and Rs. 2,00,000/- as Extraordinary loan can be given to Members subject to eligibility. The Society has completed its 70 years after its establishment and it would continue in future without any limit of line for the benefit of the employees of erstwhile DVB, who are the Members of the Society.