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PRIME COOPERATIVE BANK LIMITED

Jan 20, 2020 351

HISTORY:

1994 The Bank was formed under the chairmanship of Mr. Gokul Bakshi. The bank started its activity from a rented place. Retail banking was the initial activity of the bank. The focus of the strategy was stability, market penetration, accumulation of resources and steady growth. 1995 The product development strategy starts. The bank began to finance small-scale industries as recommended by RBI of the Goiporia Committee and the Narsimha 1996 committee "Customer is a king" concept-initiated information technology concept were used as TELE Banking / Remote Banking with Advent of computer operations. The concept of out-of-service banking was introduced, for example, between 6:00 p.m. and 8:00 p.m., so that the retail client of the bank reduces its cash risk and continues to the date. 1997 began the branch expansion strategy and the bank started its first branch Bhulka Bhavan Branch in Adajan in August 1997 with the following month, ie Sept.97 bank had started another branch in Katargam GIDC. 1998 Expansion of the branch had continued during the year and branch 3 was opened in June 98 in MGRoad, 4th branch was opened in Oct-98 in the new sardar market and the 5th branch was opened in December-98 in bhatar Char rasta. 1999 Bank has taken RBI's permit to accept NRI deposits. Introducing "Smart Cash" - an elegant cash alternative named as "primary purse".
It is useful in 143 places throughout the Surat area and the encouraging response received from the valuable class of Surat people. 2000 Bank began with the opening of a new branch of the millennium in navsari (millennium branch in Feb. 2000 first bank in the south of Gujarat to open its branch of the city outside Bank has opened another branch in Bharuch in Sep-2000, Starting to open D-MAT A / c in November 2000 2004 Prime completed its tenth anniversary and introduced schemes such as Prime Sarasvatee, Prime Health Card and Prime Citizen for its valued customers 2005 Prime joined the hands of Worlds Number 5 raked Insurance Provider Called AVIVA Insurance, with IFFCO-TOKIO to provide Sea Insurance and General Insurance to its customers. 2006 Introduced schemes such as Loan for Gold in collaboration with ICICI Bank. Also opened a Bill Collection Center at its Bharuch branch to collect gas invoices from Gujarat Gas Co. Ltd. Payment system qicker RBI has launched RTGS scheme for the scheduled bank, Prime has joined hands with a notable work such as the merger of Baroda Industrial Cooperative Bank with Prime Co-operative Bank, placing its management in Its 7 branches, which has increased its area of ​​work to Chotta Udaipur in Gujarat just 72 km from the MP border. Prime started the postage process on November 21 at Surat & Baroda, whire customers can bring their blank papers and turn them into a paper stamp without paying additional charges. 2007 Prime has done a remarkable job as Adajan Nagrik Co-Op.
Bank with Prime Co-operative Bank, placing its management in the same, which has increased the area of ​​its work in the city of Surat. Prime Bank has started Mutual Fund businesses based on referrals. The Bank has linked with Principal PNB Mutual Fund, ICU, Benchmark, ICICI Prudential, Reliance, SBI, Lotus, Birla, Kotak, Sundaram ETC. Prime Bank has received the Category 2 License to conduct foreign exchange business Prime Bank had made Hattrick in the merger banks week. "In June 2006 Vadodara, 50 years old, with its 7 branches," Baroda Industrial Co-Op.In June 2007, Nadiad's 38-year-old bank, with its 3 branches, United Mercantile Co-Op Bank.In June 2008, with Paul's merchants for ease of remittances abroad through Western Union Money Transfer: two branches opened on 1-06-2009 - one in Bodeli dist. Bodeli and another in Vyara Dist. Tapi Fourth merger took place on 22-09-09 Sanand Urban Co-op Bank SA, Sanand Incorporated to the merger 2010 Implementation of 100% Core Banking Solutions 2011 5th merger - The Mercantile Co-op Bank Ltd , Godhra merged with the bank with two branches on 9-07-2011 2012 Implementation of the disaster recovery site, Bardoli Launchig branch of ATM 2013 card Bayad Nagarik merger Sahakari Bank Ltd., Bayad Dist. Sabarkantha

 

CHAIRMAN: Shri. Gokulbhai Bakshi