Shamrao Vithal Co-operative Bank

Shamrao Vithal Co-operative Bank originated in the Indian cooperative credit movement. It was registered as a cooperative credit society on 27 December 1906, making its institutional beginnings part of the early development of organised cooperative finance in India. The society’s stated objectives were to encourage saving, assist people who were economically disadvantaged, and collect funds that could be used to help deserving members. These aims established a social and member-focused foundation for the organisation. The institution’s creation is closely associated with Shripad Subbarao Talmaki, described in the available historical account as the principal architect of the bank and a major figure in the cooperative movement. Talmaki named the organisation after Shamrao Vithal Kaikini, who was his principal guide and guru. The name therefore reflects both the personal relationship behind the institution’s formation and the cooperative ideals that shaped its early identity. In its initial form, the organisation was a cooperative credit society rather than a modern scheduled bank. Its role was linked to collective saving and the provision of financial assistance within a membership-based community. Cooperative institutions of this type were intended to pool resources and make credit available to people who might have had limited access to other forms of formal finance. The supplied historical material does not provide a detailed chronology of subsequent conversions, regulatory milestones, or changes in legal structure, so those stages cannot be described with precision here. The institution later operated as The Shamrao Vithal Co-operative Bank Ltd. and became known in abbreviated form as SVC Bank. It is identified as a scheduled bank in India, indicating that its later institutional role extended beyond the original credit-society framework. The available account does not specify the date of its scheduled-bank status or provide a complete account of the regulatory and organisational steps through which that transition occurred. By the period covered by the reference material, SVC Bank had developed a substantial branch network. It was reported to have 198 branches across 11 Indian states. The named locations include Maharashtra, Karnataka, Tamil Nadu, Telangana, Delhi, Rajasthan, Haryana, Goa, Gujarat, and Madhya Pradesh. The source states that the bank operates in 11 states but lists only ten state or territory names in the supplied text, leaving one location unidentified. The network demonstrates a geographic expansion beyond the institution’s original cooperative setting while retaining an Indian domestic focus. The bank’s historical continuity rests on the combination of a long-established cooperative mission and a broader banking presence. Its brand story is not primarily built around a consumer product launch or a corporate merger; instead, it is defined by the move from a 1906 cooperative credit society to a scheduled cooperative bank serving customers through a multi-state branch network. Information about current leadership, digital transformation, financial results, ownership, headquarters, and recent corporate decisions is not contained in the supplied reference material. Further verification would be required before adding those details.

• 1906

  Cooperative credit society established

  [1]Shamrao Vithal Co-operative Banken.wikipedia.org

  The institution was registered as a cooperative credit society on 27 December 1906. Its founding objectives included promoting saving, supporting economically disadvantaged people, and raising funds to assist deserving members.

A community-oriented Indian cooperative bank whose identity is rooted in savings promotion, member support, and access to credit.

• Retail and cooperative banking

  Deposit accounts

  Deposit-taking is consistent with the bank’s historical purpose of encouraging saving and with its operation as a scheduled bank. The supplied reference material does not identify specific account types, interest rates, eligibility rules, or branded deposit products, so this entry describes the service category rather than a confirmed named offering.

• Lending

  Loans and credit facilities

  Credit provision is central to the institution’s cooperative origins, whose stated purpose included helping members with their economic activities and mobilising funds for deserving members. The available source does not specify current loan products, sectors, collateral requirements, or pricing.

• Banking services

  Branch banking services

  SVC Bank provides banking through a reported network of 198 branches across multiple Indian states. The reference material does not enumerate the full service menu available at those branches, but the network represents the principal documented channel through which the bank serves its domestic market.

• 2021.09.02

  Reported2021.09.02

  SVC Bank appoints Ashish Singhal as managing director[2]SVC Bank任命Ashish Singhal为董事总经理equitybulls.com

  SVC Bank announced the appointment of Ashish Singhal as its new managing director. He took over from Ajit Venugopalan, who retired on August 31, 2021.

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1. 1Shamrao Vithal Co-operative Banken.wikipedia.org
2. 2SVC Bank任命Ashish Singhal为董事总经理equitybulls.com