About Shri Veershiv Co. Op Bank Ltd.
History of Shri Veershaiv Co-op. Bank
“VEERSHAIVISM IS NEITHER A RELIGION NOR A CASTE, IT IS AN IDEAL HUMAN WAY TO LIVE YOUR LIFE.”
The far-sighted Ruler of Karveer His Highness “Chatrapati Shahumaharaja” had encouraged social leaders to establish co-operative credit societies for economic development of his realm. His Highness not only offered his support to Credit Societies but also passed a Co-operative Societies Act in 1913. His Highness even made applicable the Mumbai Societies Act 1925 in his State. As the roots of co-operation started growing in the Community, eminent social and community leaders Chief Promoter Raosaheb D.B. Mali and pioneer members Adv. M.D. Shresthi, Dr. N.C. Chikmath, Shri S.G. Swami, Mahadevanna Chougule, Shivpadanna Nashte, Virupaksha Doijad, Kashappanna Karambali, Dadoba Gadave, Dhondippana Todkar and so many others established Shri Veershaiv Cooperative Bank on 4th February 1942 with Paid Up capital of Rs.2500/-
The First Board Meeting was held on 12 Feb 1942 to discuss about the fulfillment of terms of registration that is to collect Rs.20,000/- share capital within a short period of 5 months which was great challenge at that time. There was negative public approach towards the Cooperation and the economy was in recession. At the time the 1942's “Quit India Movement” was also on the peak. With such difficulties to face, the Banks Promoters took painstaking efforts and succeeded in collecting the prescribed share capital of Rs 20,000/= and achieved the “Bank Status”.
During the first decade, after getting the Bank Status, SVCB Bank was the first Banker in Kolhapur who had achieved stipulation of membership (1082 Members) share capital (Rs. 62,000/-) and we are proud to state here that we are the first Bankers in Karveer who had declared 6 % dividend in the beginning years.
Bank celebrated its Golden Jubliee in the Year 1990-91 with 16 Branches and Deposits of Rs.64 Crores and Advances of Rs.44 crores. Bank from inception had pragmatic and forward looking Board of Directors with moto of providing the Banking facilities and credit to all the segments of the society with special emphasis on economically weaker sectors of the society, small agriculturist and entrepreneurs and extending the banking to masses. Banks made rapid progress over the Years and is leading Bank in the Co-op. Sector in Maharashtra. Bank has always completed its social obligations by extending the help to people affected by natural calamities and to social and charitable Institutes / organization promoting social cause. With Deposit base of Rs..516 cr and Advances of Rs.302 cr , SVCB bank is now third amongst five big Co-op. Banks in the Kolhapur District and is staged to take leap with offering wide range of technology services from RuPay Debit Cum ATM Card to Mobile and Internet Banking to its Customers.