Shamrao Vithal Co-operative Bank

About the Bank

The Shamrao Vithal Co-operative Bank Limited was initiated when collaboration was just starting to attain prominence in India. It was established with the main motive of supporting the under-privileged associates of the group in its fiscal ventures. Other objective of the firm is to endorse deposits and to raise capital for offering fiscal assistance to the worthy associates.

The founder of the bank, Rao Bahadur Shripad Subbarao Talmaki, was the chief planner of the Bank. Shamrao Vithal Co-operative Bank Limited was formerly scheduled as a Mutual Finance Society on December 27, 1906.

Encouraged by condescending principles for the advancement of fiscal, ethical and material security of the society; the Bank made a foray in the financial market with diffident means.

Landmarks Achieved

The prominent landmarks achieved by Shamrao Vithal Co-operative Bank Ltd are mentioned as below:

• The bank launched its Fixed Deposits, Collective Deposits and Savings Bank Deposits scheme in 1907
• In 1910 the bank inaugurated its first Co-operative retail outlets
• Introduced Education Fund in the year 1911, Fidelity Guarantee Fund in the year1927, Staff Gratuity Fund in the year 1954 and Distress Relief Fund in the year 1931.
• The bank offers services for transfer of funds by Draft to associates in the year 1911
• The bank launched its sectoral sponsorship in the year 1966 and credit card finance plan in 1913
• The bank initiated its foremost mutual Housing Society in 1915 in Mumbai
• It released all its services to all sections of the society in the year 1956
• Release of Safe Deposit Vaults and Cash Certificates in 1964 and 1975 respectively
• Attained an organized bank reputation in the year 1988
• The bank breached its deposits landmark in 2000 at ` 1000 crores
• It initiated it’s corporate division in 2002 at Vakola
• The bank employed Genius I Core Banking Application in all its nationwide subdivisions in the year 2003

Financial Performance

The details of financial report of Shamrao Vithal Co-operative Bank Ltd as on 2009 are as under:

Deposits in the financial year 2008 – 2009 estimated at ` 4344.84 crore
Deposits in the financial year 2007 - 2008 estimated at ` 3501.39 crore
Calculated Growth : 24.09%

Finance Employment in the financial year 2008–2009 estimated at ` 2770.82 crore
Finance Employment in the financial year 2007 - 2008 estimated at ` 2382.57 crore Calculated Growth : 16.30%

Productivity in the financial year 2008–2009 estimated at ` 47.47 crore
Productivity in the financial year 2007 - 2008 estimated at ` 33.72 crore
Calculated Growth : 40.78%

Liquidity in the financial year 2008–2009 estimated at ` 1954.89 crore
Liquidity in the financial year 2007 - 2008 estimated at ` 1477.15 crore
Calculated Growth : 32.34%

CD percentage in the financial year 2008 - 2009 estimated at 63.77%
CD percentage in the financial year 2007 - 2008 estimated at 68.05%

Total Funds in the financial year 2008 - 2009 estimated at ` 80.38 crore
Total Funds in the financial year 2007 - 2008 estimated at ` 74.17 crore
Calculated Growth : 8.37%

Capital to Risk Asset Ratio (CRAR)
CRAR in the financial year 2008 - 2009 estimated at 13.27%
CRAR in the financial year 2008 - 2009 estimated at 12.70%
Calculated Growth : 4.49%

Products and Services

Some of the products and services offered by Shamrao Vithal Co-operative Bank Ltd are as follows:

• E-Banking
• Deposit Services
• Credit Services
• Preferred Banking
• Uninterrupted banking Services
• Forex Services
• Attractive Rates of Interest

Contact Details

Delhi Branch
G/4, Guru Amardas Bhavan,
78 – Nehru Place,
New Delhi – 110019
New Delhi
Tel: (011) 26411127

Mumbai Branch
Heeramani Ratan CHS Ltd,
Ground floor,
Bangur Nagar,
Goregaon (W)
Mumbai - 400090
Maharastra
Tel: (022) 28712690
Fax: (022) 28712689

Chennai Branch
15 C Block 6th street,
Near Chintamani Signal,
Anna Nagar (East)
Chennai - 600102
Tamil Nadu
Tel: (044) 26208988

Last Updated on 02^nd May 2011

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