https://thebankinfo.com/

BHARAT COOPERATIVE BANK MUMBAI LIMITED

Jan 21, 2020 351

HISTORY:

In the year 1978, several young, enthusiastic and similar social workers associated with the Billawar Association, Mumbai, a leading charity sponsored by the Bank. The Bank was established with the intention of promoting social justice and well-being and bringing banking to the masses, especially to the middle classes and low-income groups to support their standard of living. Initially it was difficult to collect the number of shares of Rs.10 / - for one share. Now the Bank is enjoying tremendous trust and loyalty from members, depositors, well-received and the general public. The Bank has made tremendous progress during the 35 years of its banking business, due to the trust given by the people in general. A common man has no hesitation to invest his hard earned money in the bank of Bharat for safety and better returns.

The Bank now known for its service, clean image and young team of staff has carved its own niche as one of the best Banks in the Metropolis with a customer base of more than 12 lacs. The Reserve Bank of India has conferred on the Bank the status programmed on 22 April 1996 and subsequently the Bank was registered as Cooperative Bank of State Multiple States on 26 September 1997 see Registration number MSCS / CR / 71 / 97 dated September 26, 1997. The Bank has made significant progress in the last decade of its banking operations in terms of branch opening, deposit mobilization, resource deployment and profitability. Shareholders have also benefited due to attractive dividends.

The Bharat Cooperative Bank (Mumbai) Limited offers the facility of integrated banking tools to its clients who can conduct financial transactions from the comfort of their homes. Electronic funds transfers not only reduce the time needed to complete daily financial settlements, but also reduce the possibility of errors. However, it is essential that the sender provide correct information regarding the beneficiary's bank account, such as the bank account number and the IFSC code of that particular bank branch.IFSC codes play a crucial role in NEFT and RTGS transfers, as well as third-party transfers, online purchases, etc. IFSC codes are required before an online financial transfer to identify both the bank of the sender and the receiver. RBI granted these unique identification codes to distinguish each participating bank in the NEFT network.

 CHAIRMAN: Shri Jaya C. Suvarna