Shamrao Vithal Co-operative Bank explained

SVC Cooperative Bank Limited
Type:Co-operative Bank
Foundation:1906
Location:Mumbai, India
Founder:Late Shamrao Vithal Kaikini (1842-1905)
Late Rao Bahadur Shripad Subbarao Talmaki (1868-1948)
Key People:Durgesh S Chandavarkar (Chairman)[1]
Ravinder Singh (Managing Director)[2]
Industry:Banking
Financial services
Products:Commercial banking
Retail banking
Private banking
Trade Finance
Asset management
Mortgages
Foreign Exchange
Revenue:Rs 33,480.61 crore[3]
Net Income:Rs 176.31 crore
Num Employees:2302 (2023)

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.[4]

History

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.

Branches

The bank has 198 branches and is present in 11 States of India:[5] Maharashtra, Karnataka, Tamil Nadu, Telangana, Delhi, Rajasthan, Haryana, Goa, Gujarat and Madhya Pradesh.

See also

Notes and References

  1. Web site: UCBs in focus: Shah recognizes SVC, NKGSB & Bassein banks. Indian Cooperative.
  2. News: 4 May 2023. SVC Bank gets new MD. Economic Times.
  3. Web site: SVC Bank Annual Report 2023 filed under financials section. SVC Bank.
  4. Web site: History.
  5. News: 15 December 2021. SVC Co-operative Bank launches loan festival; to offer credit at attractive rates. Economic Times.