| Company type | Co-operative Bank |
|---|---|
| Industry | Banking Financial services |
| Founded | 1906 |
| Founder | Late Shamrao Vithal Kaikini (1842-1905) Late Rao Bahadur Shripad Subbarao Talmaki (1868-1948) |
| Headquarters | Mumbai, India |
Key people | Durgesh S Chandavarkar (Chairman) [1] Ravinder Singh (Managing Director) [2] |
| Products | Commercial banking Retail banking Private banking Trade Finance Asset management Mortgages |
| Revenue | Rs 31,680.02 crore [1] |
| Rs 160.20 crore [1] | |
Number of employees | 2400 (2018) |
| Website | www |
The Shamrao Vithal Co-op. Bank Ltd. (SVC Bank) known as SVC Cooperative Bank Limited, is a scheduled bank in India that was established in 1906, being registered as a Co-operative Credit Society on 27 December 1906. Its main goals when it was established were to encourage saving, help the less fortunate people of the community with their economic endeavours, and to raise money to help deserving members. [3]
Late Rao Bahadur Shripad Subbarao Talmaki, the Maharshi of Co-operation, was the main architect of the Bank and he named it after Late Shamrao Vithal Kaikini, who was his main guiding force and Guru. The Bank was originally registered as a Co-operative Credit Society on 27 December 1906.[ citation needed ]
The bank has 198 branches and is present in 11 States of India: [4] Maharashtra, Karnataka, Tamil Nadu, Telangana, Delhi, Rajasthan, Haryana, Goa, Gujarat and Madhya Pradesh.
A cooperative is "an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise". Cooperatives are democratically controlled by their members, with each member having one vote in electing the board of directors. Cooperatives may include:
Verghese Kurien was an Indian dairy engineer and social entrepreneur who led initiatives that contributed to the extensive increase in milk production termed the White Revolution.
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Veera Desai Road is a part of Andheri – the largest of Mumbai's suburbs in the state of Maharashtra, India. It is also linked to some famous landmarks of Andheri i.e. Andheri Recreation Club, Andheri Sports Complex – where most national level sports tournaments are held, Garden Court restaurant, Sony Mony Electronics, Sardar Patel College of Engineering (SPCE) – one of the top ranked engineering colleges, S.P. Jain Institute of Management and Research, Bhavan's College. n. There are some old housing colonies belonging to bank of India employees, these are Pallavi, Ajanta, Aradhana, Sanmaan, Om Pushpanjalietc. Veera Desai Road has been one of the better neighbourhoods to live in Mumbai. In recent years it has seen exponential developments resulting in a healthy blend of Residential apartments housing Bank and Govt employees alongside the new and swanky Offices in modern office complex.
National Bank for Agriculture and Rural Development (NABARD) is an apex regulatory body for overall regulation of regional rural banks and apex cooperative banks in India. It is fully owned by Ministry of Finance, Government of India. The bank has been entrusted with "matters concerning policy, planning, and operations in the field of credit for agriculture and other economic activities in rural areas in India". NABARD is active in developing and implementing financial inclusion.
The history of the cooperative movement concerns the origins and history of cooperatives across the world. Although cooperative arrangements, such as mutual insurance, and principles of cooperation existed long before, the cooperative movement began with the application of cooperative principles to business organization.
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Geojit Financial Services Ltd. is an investment services company in India headquartered in Kochi, Kerala. It operates a network of offices across India and the Middle East. Geojit was the first company in India to launch online-trading facilities, develop franchise models of sub-broking, form joint ventures in West Asia and the first to begin commodity futures trading in pepper, cardamom, gold and silver in India.
The cooperative movement in India plays a crucial role in the agricultural sector, banking and housing. The history of cooperatives in India is more than a hundred years old. Cooperatives developed very rapidly after Indian independence. According to an estimate, more than half a million cooperative societies are active in the country. Many cooperative societies, particularly in rural areas, increase political participation and are used as a stepping stone by aspiring politicians.
Buldana Urban Cooperative Credit Society was formed on 15 August 1986. Chairman (Mr.) Radheshyamji Chandak started it with capital of 210 USD and 72 members. In a span of 27 years and mainly in last decade under managing director Dr Sukesh Zamwar, the Credit Society has grown to size of 1.1 billion dollar business with more than half a million (700,000) membership. The area of operation is mainly in central and western India in four states of India. Now the society has 333 branches and 5000 employee and 300 warehouses. Total built up area for Warehouse is 5,000,000 sq feet and capacity of 435,000 metric tons. It maintains a presence in most of the metro cities of India and also in rural areas.
The West Bengal State Co-operative Bank (WBSTCB) is an Indian provincial co-operative bank based in Kolkata. Its primary area of operation is to provide agricultural loans, controlling the District Cooperative Banks and other cooperative societies. It also includes a range of services to the sector, including locker facilities, bank guarantee, bills, letter of credit, insurance, ancillary services, deposit schemes and loan schemes. It acts as a intermediary for the implementation and funding of different schemes for the government in the fields of Agriculture, fisheries, rural development etc. Along with all the other 33 State Co-operatives it forms the National Federation of State Co-operative Banks Ltd. (NAFSCOB).
The Tamil Nadu State Apex Co-operative Bank, also known as TNSC Bank, is an Indian cooperative banking company headquartered in Chennai. It was incorporated in 1905 as an urban cooperative bank. As of 2015, TNSC Bank had 46 branches in Chennai. TNSC Bank coordinates India's entire short-term cooperative credit structure.
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The Mizoram Co-operative Apex Bank or Mizoram Apex Bank is an Indian co-operative banking company headquartered in Aizawl. It was incorporated in 1982 as an urban cooperative bank.
Punjab & Maharashtra Co-operative Bank Limited (PMC), is a multi-state co-operative bank that began operations in 1983. It has 137 branches spread over half a dozen states of India and nearly 100 branches are in Maharashtra. It is regulated by the Reserve Bank of India and registered under the Cooperative Societies Act.
Rao Bahadur Shripad Subrao Talmaki was a social reformer and early pioneer of the Cooperative movement in India and is known as the father of India's cooperative movement. He was a member of the Chitrapur Saraswat community.
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