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AKOLA JANATA COMMERCIAL COOPERATIVE BANK

Jan 21, 2020 351

HISTORY:

The bank was established on the auspicious day of Dushera on 20.10.1969 by the late Chief Minister of Maharashtra Shri. Vasantrao Naik from the beginning to this date, the bank has been making steady progress and did not suffer the loss, not even once. The bank's share capital at the beginning was Rs. 1.09 Lacos and is currently Rs. 3759.03 Lacs In 1970 the deposits with the bank were in the measure of Rs. 3.39 Lacs increased to Rs. 122192.64 Lacs. The bank is gaining profits from its inception. At present there are 612 employees in the bank that provides services. The bank has been giving dividends to its shareholders since its inception.
The state of Maharashtra has played a very important role in the development of the cooperative movement in India. Many co-workers have dedicated their lives to the elevation of the common man through this movement. Among the latter Shri. Jamanlalji Goenka and late Shri. Vinaykumarji Parashar are notable personalities, who were inspired by the sense of fairness and love for social justice.

They have established Akola Janata Commercial Co-op Bank Ltd., Akola in 1969, on the auspicious day of Vijaya Dashmi. In order to meet the need as well as the development of the city of Akola. For the past four decades, the bank has been servicing the common people of Maharashtra and Madhya Pradesh, through its 36 automated offices and 4 extension counters, and gradually overcoming pinnacles for the achievement of multi-state programmed bank status.Despite cutting throat competition in the banking field, and facing the challenges of globalization and Basel reforms, the bank marches the glorious way to earn profits and pay dividends to shareholders since its inception. From the point of view of social obligation has formulated various schemes for the improvement and welfare of the weaker section, such as educational loans at comparatively low rate, banking service at a glance to seniors, disabled and women. It is providing the service of several clients, such as postage, D-mat, general insurance etc.Head office and all 36 branches are fully computerized.

 

CHAIRMAN: Shri Bhimrao Dhotre