Shamrao Vithal Co-operative Bank

Shamrao Vithal Co-op. Bank
Industry	Banking Financial services
Founded	1906
Headquarters	Mumbai, India
Products	Investment Banking Commercial Banking Retail Banking Private Banking Asset Management Mortgages Credit Cards
Website	Official Website

The Shamrao Vithal Co-op. Bank Ltd. (SVC Bank), established in 1906, is one of the oldest Urban Co-operative Bank in India. The bank was founded when co-operation was just started to begin in the country. It was set up with the primary objective of assisting the less fortunate members of the community in its economic enterprises. This was also to encourage savings and to create funds for providing financial aid to deserving members.

Rao Bahadur Shripad Subbarao Talmaki was the main architect of the Bank. The Bank was originally registered as a Co-operative Credit Society on 27 December 1906.

Major milestones

1907 - Fixed Deposits, Savings Bank Deposits and Cumulative Deposits Scheme introduced
1910 - First Co-operative Stores
1911 - Facilities for remittance by Draft made available to Members & Education Fund
1913 - Cash Credit Loan Scheme started
1915 - First Co-operative Housing Society in Mumbai
1927 - idelity Guarantee Fund
1931 - Distress Relief Fund
1954 - Staff Gratuity Fund
1956 - Facilities thrown open to all communities
1964 - Introduction of Safe Deposit Vaults
1966 - Industrial Financing
1975 - Introduction of Cash Certificates
1988 - "Scheduled Bank Status" conferred on the Bank
2000 - Deposits cross 1000 crores
2002 - Setting up of Corporate Office - SVC Tower at Vakola
2003 - Implementation of Genius I Core Banking Solution across all the branches
2006 - SVC Bank is offered AD-I License in & SVC Bank is permitted to sell Core Banking software services to smaller co-operative Banks
2006 - 1st Software sale successful
2010 - SVC Bank crosses Software sales services to 25 Banks
2011 - SVC Bank opens 100th Branch at Bibwewadi
2014 - SVC Bank opens 150th Branch at Chembur (CG Road)
2016 - SVC Bank opens 193rd Branch at Khamgaon

Branches

For a complete list of Branch locations, please visit: www.svcbank.com The Bank is present in the states of Maharashtra, Karnataka, Tamil Nadu, Andhra Pradesh, Delhi, Rajasthan and Madhya Pradesh.

References

External links

SVC Bank Website

Banking in India

Reserve bank	Reserve Bank of India

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Interbank networks	BANCS Cashnet CashTree Cirrus IMPS MITR NFS PLUS RuPay

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Shamrao Vithal Co-operative Bank

Major milestones

Branches

See also

References

External links