Shamrao Vithal Co-operative Bank

Shamrao Vithal Co-operative Bank is one of the best co-operative banks in India. It is headquartered in Mumbai, Maharashtra.

About Shamrao Vithal Co-operative Bank

Shamrao Vithal Co-operative Bank was founded in 1906. The chief architect of the bank was Rao Bahadur Shripad Subbarao Talmaki. It started its operations in the form of a co-operative credit society. The concept of co-operative societies was still new at that time. The bank was founded with a goal to assist the underprivileged people of the society.

Currently, the Chairman of Shamrao Vithal Co-operative Bank is Shri Nalkur Shripad Rao. The bank has 79 branches and 1 extension counter.

Landmarks achieved by the Shamrao Vithal Co-operative Bank

Given below is a list of milestones achieved by the bank:

1. Savings Bank Deposits, Fixed Deposits and Cumulative Deposits Scheme launched in 1907.
2. In 1910,the bank started the first co-operative stores
3. In 1911, remittance facilities through draft were first offered to the members.
4. Education Fund was launched in 1911.
5. Cash Credit Loan Scheme was introduced in 1913.
6. Established the first co-operative housing society in Mumbai in 1915.
7. Fidelity Guarantee Fund introduced in 1927.
8. In 1931, the Distress Relief Fund was launched.
9. In 1954, the Staff Gratuity Fund was introduced.
10. Facilities were made available to all groups in 1956.
11. Safe Deposit Vaults came into existence in 1964.
12. In 1966, industrial financing operations started taking place.
13. Cash Certificates were introduced in 1975.
14. The Bank received the status of a "Scheduled Bank" in 1988
15. In 2000, deposits of the bank surpassed 1,000 crores
16. In 2002, the corporate office of the bank was inaugurated at SVC Tower at Vakola
17. In 2003, Application of Genius I Core Banking Solution in all the branches took place

Shamrao Vithal Co-operative Bank products and services

The innovative range of products and services offered by Shamrao Vithal Co-operative Bank comprises loans, deposits, preferred banking services, forex services and Internet banking.

Board of Directors

The Board of Directors of Shamrao Vithal Co-operative Bank consists of the following individuals:

Chairman

Shri Nalkur Shripad Rao Vice-Chairman

Shri Suresh S. Hemmady

Directors

1. Shri Uday P. Gurkar
2. Shri Prakash A. Bijoor
3. Shri Satish N. Kudyadi
4. Shri Ratnakar N. Gokarn
5. Shri Dinesh G. Kumta
6. Shri Ravindra K. Kulkarni
7. Shri Dilip P. Shashital
8. Shri Ashwin S. Nadkarni
9. Shri Deepak B. Mundkur
10. Shri Vivek D. Yennemadi

Technology used by Shamrao Vithal Co-operative Bank

The bank uses the following technologies and solutions to enhance its reach among the customers:

1. Telebanking solution
2. Any Branch Banking (ABB)
3. Sampurna
4. Mobile Banking Solution
5. Cache Token
6. Sweep In/Out Solution
7. Speedy payment system
8. National Electronic Funds Transfer (NEFT)
9. QuickEST Real Time Gross Settlement (RTGS)
10. Electronic Clearing System (ECS)
11. Cache 24 (ATM Network)
12. Reporting Services
13. GOLDMINE – Genius - On Line Data Mine
14. On-Line leave management

Shamrao Vithal Co-operative Bank Contact Details

S V C Bank Tower
Jawaharlal Nehru Road
Vakola Santacruz (East)
Mumbai: 400055
Maharashtra, India
Phone Number: (22) 66999999

http://www.svcbank.com/