ABOUT BANK
Our Bank commenced its business on the 4th July 1969. It was inaugurated at the hands of Shri Joglekarji, Managing Director, Maharashtra State Co-operative Bank in august presence of Shri Santoshrao Gode, Wardha Zilha Parishad Chairman, and as a Chief Guest of the Inaugural function of the Bank Shri Nanaji Kadam, MLA, Arvi constituency. Bank is registered with the Co-operative Department on 04 July 1969 vide registration no. WDA/BNK/114 OF 1969 and commenced its banking business wef November 1, 1969. The bank received RBI license on February 7, 1993 u/s 22 of BRAct 1969 (AACS) vide license no. UBD.NG.215. The area of operation of the bank was Wardha district and the bank has been formed to mobilize resources from the public to cater to the credit needs of common man, small entrepreneurs, S.S.I. units, traders, professional and self-employed persons, service providers etc. Due to the inadequate banking facilities as the number of co-op banks operating in the region was few in number. There was also a boosting demand for credit to housing sector also. Hence, the opening of Our Bank was welcomed by one and all and there was tremendous response while collecting the share capital. At the time of registration it was having paid-up capital of Rs. 50,000/- with 250 share holders.
