Abhyudaya Co-operative Bank Ltd is a Maharashtra, India-based, urban multi-state Cooperative banking institution that has been functioning as a cooperative bank since 1965. Abhyudaya Co-op was founded by a committed group of social workers and labour movement activists, imbued with the spirit of service to the cause of mill workers, other industrialists, and previously ignored economically weaker sections of society. With a limited share capital of Rs. 5,000, Credit Society Ltd. in 1964. At that time, the region of Kalachowki, Sewri, Parel, and its surroundings were mainly inhabited by low-income industrial labour and lower-middle-class people. Abhyudaya Co-op for a brief period of time. The Credit Society has been an Urban Co-op. Hey. Bank. Finally, Abhyudaya Co-op, June 1965. The Bank Ltd. was established under the slogan “Prosperity through Co-operation”
Abhyudaya Co-operative Bank Ltd Company Profile
- Name of Company: Abhyudaya Co-operative Bank Ltd
- Company Type: Co-Operative
- Industry of this company: Banking Financial Services
- Year Company was Founded: June 1967
- Founder of this company: Sitram Chimaji Ghandat (M.D)
- Headquarters: Mumbai, India
- Main Leaders in this company: Shri Premnath S. Salian
- Subsidiaries: NA
In September 1988, the bank was granted Scheduled Bank Status by the Reserve Bank of India. He became one of the leading Urban Co-ops over a period of 51 years. With branches in Metropolitan Mumbai, Navi Mumbai, Pune, Thane, Raigad, Nagpur, Nashik, Nanded, Kankavali, Aurangabad, Ahmednagar & Pen in the State of Maharashtra, Vadodara and Ahmedabad in the State of Gujarat, Udupi, and Mangalore in the State of Karnataka. The bank was listed as a Multi-State Co-op on 11 January 2007. Bank, New Delhi, by the Central Registrar. The bank’s area of operation is limited to three states – Maharashtra, Gujarat, and Karnataka. The merger of Shree Krishna Sahakari Bank Ltd., Vadodara, Janatha Co-op, Gujarat State. Bank Ltd., Udupi, State of Karnataka, and Co-op Manekchowk. Bank Ltd. was founded in Ahmedabad, Gujarat State.
The plunge of our bank into excellence in all directions will be guided by the VISION that provides overall motivation, the Ideals that guide teaching & intervention, the VITALITY that embarks on strategy development & execution. Our Bank’s enormous potential will be realized by the ‘Vision, Principles & Vitality’ distinctive amalgam.
The bank has more than Rs. 2,23 lakh members and more than Rs. 17,30 lakh depositors as of 31 March 2020. As of 31 March 2020, the bank’s overall market mix has crossed over Rs. 17,492 crore. Bank Deposits have reached up to Rs. 10,838 Crore as of 31 March 2020, while Advances have reached up to Rs. 6,654 Crore. The Bank has maintained a 37.55 percent ratio of CASA Deposits to Total Deposits. The Bank’s strength is reflected in the fact that the payment of capital and reserves & provisions amounted to Rs. 1380 Crore and the volume of investments is Rs. 3,508 Crore. Our bank’s Capital Adequacy Ratio is as high as 12.60%.
For its customers, the Bank has unveiled its interactive website for easy accessibility of various products & services. The bank has successfully introduced Core Banking Solution (CBS) technology, which provides the customers with any branch banking service through this technology. The bank is offering its customer Abhyudaya Mobile Banking Service through which the customer can switch Self, Intra, Inter & IMPS Fund. Via Mobile Banking service, customers can verify balance mini statement, cheque request & a host of services. Cash, fund transfer, clearing, remittances, etc. can be transacted by bank clients from any branch of the bank. The bank is offering an Abhyudaya RuPay Debit Card which can be used for cash withdrawals, mini statements, balance inquiry and can be used at Point of Sale terminals for merchant transactions. The bank has offsite ATMs installed at Abhyudaya Nagar & Ghatkopar. The bank is providing all types of Foreign Exchange & Money Transfer Services such as MoneyGram & Xpress Money. The bank is also offering Tele-banking and Internet Banking services. Customers of our bank can get a monthly statement of account through email. Bank has installed Cash Deposit Machines at New Panvel, Vashi & Nehru Nagar, subsequently, Bank will install Cash Deposit Machines at other Branches.
All Customer Care details of Abhyudaya Co-operative Bank Ltd
- Customer Care Number of Abhyudaya Bank: 022-24115047, 24105097
- Support Email Id of Abhyudaya Bank: secretarial@abhyudayabank.net
- Office Address of Abhyudaya Bank: K.K.TOWER, Abhyudaya Bank Lane. off G. D. Ambekar Marg, Parel Village, Mumbai-400 012
- Facebook Id of Abhyudaya Bank (Can be Used for support): https://www.facebook.com/abhyudayabankltd/
- Twitter Id of Abhyudaya Bank: NA
- Official Site of Abhyudaya Bank: https://www.abhyudayabank.co.in/
- Instagram Account of Abhyudaya Bank: NA
- Youtube Account of Abhyudaya Bank: NA
Bank has implemented Pradhan Mantri Jan-Dhan Yojana (PMJDY) for achieving the national objective of Financial Inclusion & providing banking services to the common man. Bank has launched Pradhan Mantri Jeevan Jyoti Bima Yojana – (PMJBY) & Pradhan Mantri Suraksha Bima Yojana – (PMSBY) (PMSBY). Bank has registered itself with CPSMS (Central Planned Scheme Monitoring System) which is a project of Dept. of, Ministry of Finance; New Delhi for providing AADHAAR based Direct Cash Transfer Benefits (Subsidies) to the customers.
Bank has implemented/adopted other RBI Schemes such as RTGS, NACH, NEFT, Speed Clearing, etc. Bank has taken corporate Agency of LIC of India, The New India Assurance Co. Ltd., and Religare Health Insurance. All types of life insurance policies of LIC, General Insurance policies of The New India Assurance Co. Ltd. & Health Insurance Policies are made available at all our branches.
Out of 111 branches, 59 branches have customer support every seven days of the week. Our customers are free to operate with more than 2.22 Lakh ATMs on other banks ATMs via NFS Network and customers of other banks can transact from 114 ATMs built by our bank. At Abhyudaya Nagar & Ghatkopar, the bank has offsite ATMs installed. The Bank also provides Demat, Pan Card Facility, and Online Tax Payment Services through our branch network. From two separate branches, viz. The ‘Franking’ facility is made accessible to the general public by Vashi & New Panvel.
At Vashi premises, Bank has its own fully equipped staff training college, whereby the talent of staff members and officials is groomed to make them competitive to face the banking sector challenges.