Saraswat Co-operative Bank
The best cooperative bank in India is Saraswat Co-operative Bank, founded in 1918.
Its headquarters are in Mumbai, and it operates in six states.
For the fiscal year that ended on March 31, 2020, it reported a gross profit of Rs 651.69 crore.
The bank outperformed all constraints throughout the COVID global epidemic and saw growth across all banking metrics.
The great customer service and openness of Saraswat Co-operative Bank’s policies have contributed to the bank’s growth into one of the industry’s titans in the nation.
In 2019, it was recognised as the “Best technological bank of the year.”
Cosmos Co-operative Bank:
The Reserve Bank of India has given permission for Cosmos Bank to become the first institution of its sort to open a currency chest.
The market capitalization and profitability metrics that this bank has created are among the best.
They have assisted Cosmos Bank in solidifying its place as one of the top cooperative banks and in gaining the confidence of its clients.
Shamrao Vithal Co-operative Bank (SVC Bank):
With its registration dating back to 1906 in Mumbai, Shamrao Vithal Co-operative Bank is regarded as a pioneer in India’s cooperative banking sector.
SVC Bank is the new corporate name of Shamrao Vithal Co-operative Bank, the third-largest cooperative bank in India.
SVC Bank makes an effort to assist the greatest number of customers and does more than Rs. 250 billion in business overall.
There are 193 branches of the bank located in ten different Indian states.
SVC Bank received the “Best Urban Co-operative Bank” award from the Brihan Mumbai Nagari Sahakari Banks Association in 2018.
Abhyudaya Co-operative Bank Ltd:
The first bank on the list to begin operations following India’s independence in 1964 is Abhyudaya Co-operative Bank Ltd.
With an initial investment of Rs 5000, it was founded by Mumbai’s economically disadvantaged labourers from the Kalachowkie, Sewri, and Parel neighbourhoods, and it now generates billions in revenue.
In Maharashtra, Karnataka, and Gujarat, the Abhyudaya Co-operative Bank has 111 locations, 34 of which provide evening banking services.
The Abhyudaya Co-operative Bank got the “Best IT Enabled Co-operative Bank” award in 2014–15 for keeping up with modern technologies.
Bharat Co-operative Bank:
The Mumbai-based Bharat Co-operative Bank was established in 1978.
While being quite new, the bank has a clientele of about 5.5 lakh people in Gujarat, Maharashtra, and Karnataka.
In order to stay current, Bharat Co-operative Bank provides new technological solutions including mobile apps, a variety of card offerings, and others.
Both the “Best Information Technology” and “Best Urban Co-operative Bank” awards were given to it in 2016.
TJSB Co-operative Bank:
In terms of the number of customers it serves each day, the Thane Janata Sahakari Bank ranks among the largest banks in the nation.
It was established in 1972 and now has 136 branches throughout 5 states. In order to provide customers with the greatest experience possible, the bank has been continuously adjusting to the most recent technologies.
It is the first cooperative bank to launch UPI, and it has several accolade-winning mobile applications and payment technologies to streamline consumer transactions and banking.
Janata Co-operative Bank:
Malleshwaram, Bengaluru, is where the Janta Co-operative Bank was established.
The bank is known as one of the most transparent banks with new objectives set to be achieved every year.
It is affiliated with some well-known names in the nation.
With a reserve of Rs 1,336.61 crore, the bank has been able to pay shareholders an 18% dividend on a consistent basis for many years.
Kalupur Commercial Co-operative Bank:
Gujarat’s Kalupur Co-operative Bank was founded there in 1970, and it also has locations in Maharashtra and Gujarat.
It has been shown yearly profit growth for a while; the most recent year, 2019, showed a working capital of Rs 8652.34 crore and a net profit of roughly Rs 122 crores.
The bank offers several unusual amenities and is customer-friendly.
It is Gujarat’s first cooperative bank to use RTGS and the state’s first to have a dealership approved.
NKGSB Co-operative Bank:
The 1917-founded NKGSB Co-operative Bank, one of the most reputable financial institutions in the nation, with 109 locations spread throughout five states.
The bank actively pursues the accomplishment of its objectives in accordance with a clear set of principles, beliefs, and goals.
The Ahmedabad Mercantile Co-operative Bank:
The Ahmedabad Mercantile Co-operative Bank Ltd., also known as AMCO BANK, was founded in 1966.
It focuses on providing quick and precise service and has a network of 34 branches.
As of March 2021, the bank has a profit of 40.46 crores and an authorised capital of 20 crores.
