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SAHEBRAO DESHMUKH COOPERATIVE BANK LIMITED

Jan 20, 2020 351

HISTORY:

SDC Bank Ltd., then Shramik Sahakari Bank Ltd., was founded on 02-02-1973 by Shri Sahebraoji Deshmukh. In adverse conditions, Sahebraoji, with his hard work, sincerity, foresight and strong desire to help people financially poor, has led the bank to a financial institution so strong that it has 14 computerized branches based in Sakinaka.

The Bank's financial position for the year ended 31/03/2009 shows that the bank has crossed deposits of 285 crores, 215 crores, the capital stock is 8.10 crores, reserves are at Rs.37.92 crores and profit has touched 2.31 crores. The Bank was consistently awarded an "A" Degree in Audit and has met all RBI standards. The Bank is moving towards the Planning state quickly and the same will be achieved this year. Core Banking is being prepared and all branches will be linked to the central office by the network system and "any banking location" will start soon, which will greatly enhance the Bank's image and improve customer satisfaction. The Bank's trajectory over the last 34 years to Core Banking, Automation, etc., was full of ups and downs.

On 06-04-2005, Sahebraoji Deshmukh left this world, giving a hard blow to family members, friends, Bank members and others. At the Annual General Meeting of Shareholders of the Bank held on 07-08-05, all participants unanimously approved the change of the name of the Bank of Shramik Sahakari Bank Limited to The Sahebrao Deshmukh Co-operative Bank Limited Bank Ltd.). The RBI has given permission to change the name of the bank and the Bank will now be known as S.D.C. Bank.

With the new name, new logo, new mindset, adoption of new technology, the Bank will be sure to reach a new height of success and will work hard to reach the top among all other cooperatives.

 

 

CHAIRMAN: Shankarrao Bhoite