SHIKSHAK SAHAKARI BANK LIMITED
Shikshak Sahakari Bank Ltd. was established in the year 1979 with the aim of helping teachers and meet their financial needs. The idea of establishing a bank had arisen in the minds of its founders in 1976. However, it was completed in January 1979. The Bank began with a share capital of Rs. 3.50 lakhs only. The founders of the Bank were professors by profession. It can be said that Shikshak Bank is a bank founded by teachers for teachers.
However, later the Bank was not limited to teachers, but opened its doors to all. It also began to finance for commercial purposes since 1987. The Bank reached the Rs. 100.00 crores in the year 1996-97. As a result, it was granted status on May 22, 1999. Shikshak Bank is the first bank to obtain this status within twenty years of its creation, which is obviously a very short period of time. However, the bank's achievements do not end here. In 1999-2000, the Bank was ranked 20 among other banks with respect to deposits and placed first in Vidarbha. In 2000-2001, it rose to the 19th position among banks in terms of deposits, maintaining its top position among Vidarbha banks.
The Bank currently has 19 branches in Nagpur and Chandrapur districts. It has action plans to open more branches in the near future. The Bank's area of operation includes the districts of Nagpur, Chandrapur, Wardha, Yavatmal, Bhandara and Gadchiroli.