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MAHANAGAR COOPERATIVE BANK

Jan 21, 2020 351

HISTORY:

This Bank was established by the people of the Dist from Ahmednagar. On behalf of "Ahmednagar Sahakari Bank Ltd." October 6, 1973. Solicitor Shri. G.S.Shelke and his colleagues were the motivating force behind the establishment of this bank. Mr. G.S.Shelke became the first President, Lieutenant Shri .G.A.Thube, the first Vice-President, Shri. .S.S.Bhagat, the first Secretary. These were people with deep and lasting ideals, faith, vision, optimism and entrepreneurial skills. These men in charge of the Bank had a commendable sense of service and duty absorbed in them. Even today, our honorable founders inspire a feeling of fear and respect in the Bank and among the Shareholders of this bank. The Bank has a humble but inspiring start. 

The Bank is sure to make the future with wisdom and consistency. The Bank has been paying dividends to its shareholders at the rate of 15%, which is the maximum dividend allowed under the MCS Act. Bank has a total of 61 Branches and nonstop 12 hours service in 5 Branches. Operating area covers all of Maharashtra. The Bank is perhaps the fastest growing Bank in the Cooperative sector. In addition, the Board of Directors has envisioned future competition in this industry and also the expectations of the Reserve Bank of India. To this end, the Board of Directors is considering the introduction of Modern Banking Services, such as ATM, Debit Card, Home Banking, RTGS, NEFT, Demat, etc. With this we are totally oriented to face the cut competition in the Banking Industry. The Bank has always strived to provide satisfactory customer service with the help of the latest technology. The Bank has provided fully computerized services to its valued customers. In order to address the challenges of the technologically advanced banking system and upgrade its existing technology, the bank has introduced "Total Bank Automation" to provide inter-branch connectivity facility at any time and any bank branch transactions .

CHAIRMAN: Mr. Uday G. Shelke