Shriram Bank

Shriram Urban Co-operative Bank Ltd. Nagpur named after Lord Shriram, idol of the people of India commenced its business on the eve of Ramnavami, the 21st March, 1996. It was inaugurated at the hands of Parampujyaniya Shri Rajendra Singhji alias Rajju Bhaiyya, Sarsanghchalak-Rashtriya Swayamsevak Sangh in the august presence of Shri Mittal, General Manager of Reserve Bank of India. The bank was registered under Maharashtra State Co-operative Societies Act, 1960 on 27th Oct., 1995 vide registration no. NGP/BNK/O/117/95-96. The bank received RBI license on 23rd Dec.1995 vide letter no.UBD/MAAH/1189P and is governed by of the Banking Regulation Act 1949 (A.A.C.S.) sec 5(CCV).

At the time of registration it was having paid-up and subscribed capital of Rs.46.45 Lakhs as against the Authorized capital of Rs. 5 crores.

The area of operation of the bank is Nagpur 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. At that time Nagpur was emerging as a major industrial city and there was a huge credit gap as per the reports prepared by the lead district bank (Bank of India). 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 Shriram Bank was welcomed by one and all and there was tremendous response while collecting the share capital.

The bank made its humble beginning in a small premise situated at "Saurabh", 258/2, South Ambazari Road, Nagpur. As the work progressed this premises was found to be inadequate and hence the bank shifted its office on 12th May, 1997 to 21, Geeta Bhavan, Dongre Layout, Shraddhanandpeth, Nagpur.

The bank was fully computerized on 1st August,1998. As the business expanded the bank shifted its administrative functions by transferring its head office on 16.11.02 at 77, Kalpataru, Abhyankar Nagar, Nagpur. In the year 2002-03 safe deposit lockers were installed at the Shraddhanandpeth Branch. The Gandhibagh branch of the bank was opened on 19th Feb., 2004. During the year 2008-09 the bank received the permission to open two new branches namely Pratap nagar and Manewada. Of these two, Pratapnagar branch was opened on 14th January,2009 and Manewada branch was opened on 4th Feb, 2009. Both these branches have evoked good response from the people. On 1st August 2013 Bank’s Head Office and its Shraddhanandpeth Branch shifted to its own premises at “4” Shrinidhi Kulkarni Deshmukh Layout. The premise was inaugurated in the hands of Shri Mohanji Bhagwat. Bank’s 5th Branch at Godhani was opened on 01.01.2013. Pratap Nagar Branch & Godhani Branch of the bank are also providing safe deposit locker facility.

The bank is in profit since inception and has been consistently receiving "A" classification in the statutory audit for all these years. Bank has complied all the norms of R.B.I. and it has been categorized as Grade 1 Bank as per R.B.I. yardsticks.

Due to the wholehearted support of our shareholders and A/c holders we are standing on the firm financial foothold. The bank is working with complete transparency and have received acclaim for its clean administration. The bank further desires to grow along with you. So, please ensure to keep your precious and hard earned money in our various deposit schemes and avail our financial assistance for all your credit needs. We welcome your word of guidance that would boost our effort to serve you better. So please feel free in giving your valuable suggestions, they are always welcome.

The Maharashtra State Cooperative Bank's Association has launched Best Cooperative Bank accreditation in the fond memory of Late Chief Minister of Maharashtra "Padmabhusan Vasant Dada Patil" Shriram Urban Co-op.Bank Ltd. has achieved the "Best Bank award in Vidarbha region" from M.S. Co-op. Banks' Association for its splendid performance in the F.Y. 2009-10, 2011-12 and 2012-13.

During the F.Y. 2013-14 the gross profit of the bank is 152.89 lacs; Net Profit is 105.89 Lacs while the total business of the bank is 17099.90 lacs in the F.Y. 2013.14.

The bank is continuously in profits since inception and has attained the status of 'A' Grade. This has been possible by the excellent co-operation extended by the erstwhile and the existing Directors of the Bank and all the employees for their dedicated and concerted efforts.