Cosmos Co-operative Bank

About the Cosmos Co-operative Bank

Initiated in the year 1906, the Cosmos Co-operative Bank Ltd is widely known as for its excellent services. Being the oldest municipal co-operative banks in India, Cosmos is at present the nation’s foremost organized Co-operative banks with its multi state presence.

Cosmos Co-operative Bank Ltd, over the years, has carved a market for itself in the metropolitan banking segment, facilitated by its affluent legacy, honesty, devotion to the discreet banking measures and technology driven client facilities. It has also accomplished comprehensive expansion not only in context of monetary pointers or levels but also in general growth of measures.

The fiscal arrangement of Cosmos Co-operative Bank Ltd in the year 2009 was ₹ 10946.37 crs entailing investment worth ₹ 6843.02 crs and credits worth ₹ 4004.36 Crs. The bank functions through its 96 sub divisions and 8 annex segments spread across the nation. Some of its major branches are in the states of Maharashtra, Gujarat, Karnataka, Madhya Pradesh, Bangalore and Andhra Pradesh.

Products and Services

Some of the products and services offered by Cosmos Co-Op. Bank Limited are:

• Deposit Schemes such as Cosmo Umbrella, Janasanchay savings scheme, cosmos kishor scheme, flexi-fixed deposit scheme, etc
• Loan Schemes with loans of upto ₹ 2 Lakhs at 14.50% of rate of interest on yearly basis.
• Foreign Exchange Business for NRIs. Accounts available under this category are Non Resident Ordinary Account (NRO), Non Resident External Account (NRE), Foreign Currency Non-Resident Account (FCNR) and Exchange Earner Foreign Currency A/c (EEFC)
• Demat account services

Landmarks Achieved

Some of the landmarks achieved by Cosmos Co-Op. Bank Limited are mentioned as below:

• The foremost co-op bank with multi state presence that deployed nationalized banking network
• It has a set up of 93 subdivisions, provincial divisions and headquarter inter linked via the information hub located at Maharashtra.
• It provides 24/7 banking services through its various ATM set-ups
• Deployment of around 96 ATM's near each of its subdivisions
• Around 55,000 ATMs are linked via NFS and Bancs joint venture.
• It offer sweep service of capital transfer between bank accounts of clients
• It provides the facility to reassign capitals immediately to any account in their subdivision set-up
• Providing RTGS or NEFT facility for immediate capital transmittal
• Provision for franking service
• Provision for online tariff imbursement service
• Account transactions are accessible via e-mails
• Availability of intermittent interest on Fixed Deposits in expend via the Electronic Clearing Scheme (ECS).
• Availability of SMS service for bank account balance, details of previous bank transactions and other status.
• Availability of recognition by Pune Corporation Tax
• Facility for cell phone and telephone bill imbursement besides payment of premiums

Financial Performance

The details of financial report of Cosmos Co-Op. Bank Limited as on 2009 are as under:

• Share Capital estimated as on the year 2009 is ₹ 87 Crores
• Reserves estimated as on the year 2009 is ₹ 613 Crores
• Net Worth estimated as on the year 2009 is ₹ 700 Crores
• Credits estimated as on the year 2009 is ₹ 6656 Crores
• Advances estimated as on the year 2009 is ₹ 3896 Crores
• Endowments estimated as on the year 2009 is ₹ 2869 Crores
• Profit estimated as on the year 2009 is ₹ 90 Crores
• Working capital estimated as on the year 2009 is ₹ 7563 Crores

Contact Details of Cosmos Bank

Headquarters

Cosmos Heights, 269/270
Shaniwar Peth,
Pune – 411030 Maharashtra , India
Tel: + 91-20-24409100
Fax: + 91-20-24453816
E-mail: [email protected]

Mumbai Office

36 A, Maru Niketan D.L.,
Vaidya Road
Dadar (W) Mumbai - 400 028 Maharashtra, India
Tel: +91-22-43606000 to 43606099
Fax: +91-22-24331167
E-mail: [email protected]

Gujarat Office

Cosmos Bank Bhavan,
Opp. Sales India,
Income Tax,
Ashram Road, Ahmedabad- 380009
Gujrat , India
Tel: +91-79-2754 2174 / 75
Fax No.: +91-79-2754 4568
E-mail: [email protected]

Last Updated on April 23, 2015