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  ABHYUDAYA CO-OPERATIVE BANK LTD.
  MULTI STATE SCHEDULED BANK
   

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Tuesday, 28-Apr-2015  09:25:09 PM
 
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Success Story of Abhyudaya Bank
 
 
Vision :

Our Bank’s plunge to excellence in all directions will be powered by the VISION that provides overarching inspiration, The VALUES that serve to guide taught & action, The VITALITY that embarks on strategy formation & execution. The immense potential of our Bank will be realized by the distinctive amalgam of the ‘Vision, Values & Vitality.

Mission :

To continuously strive for synergy between technology, systems & human resources for providing products & services that meet the quality, performance & aspirations of the vast clientele & to maintain the highest standards of ethics & societal responsibilities, constantly innovate products & processes & develop teams that keep the momentum going to take the Bank to excellence.

The Beginning

A dedicated group of social workers and labour movement activists, imbued with the spirit of service to the cause of mill workers, other industrial and hitherto neglected economically weaker sections of society started Abhyudaya Co-op. Credit Society Ltd. in 1964, with a small share capital of Rs. 5,000. The area of Kalachowki, Sewri, Parel and their surroundings were predominantly populated by low income industrial labour and lower middle class people at that time. In a short period of time Abhyudaya Co-op. Credit Society got converted into an Urban Co-op. Bank. Finally in June 1965, Abhyudaya Co-op. Bank Ltd. was established with the motto of "Prosperity through Co-operation".

A Forward March :

The Bank was conferred with Scheduled Bank Status by Reserve Bank of India in September 1988. Over a span of 50 years, it became one of the leading Urban Co-op. Bank in the country with branches in Metropolitan Mumbai, Navi Mumbai, Pune, Thane, Raigad, Nagpur, Nashik, Nanded, Kankavali, Aurangabad, Ahmednagar & Pen in Maharashtra State, Vadodara and Ahmedabad in Gujarat State, Udupi and Mangalore in Karnataka State. On 11th January, 2007 the Bank was registered as a Multi­State Co-op. Bank by the Central Registrar, New Delhi. The area of operation of the bank is confined to 3 States - Maharashtra, Gujarat and Karnataka. The Bank further proposes to extend its area of operation to other States. The merger of Shree Krishna Sahakari Bank Ltd., Vadodara, Gujarat State, Janatha Co-op. Bank Ltd., Udupi, Karnataka State and Manekchowk Co-op. Bank Ltd., Ahmedabad, Gujarat State has been effected. For the F.Y. 2014-15 Bank has set a target of achieving a business mix of Rs. 16,000 Crore. Bank will be celebrating its 50th Foundation Day on 25th June 2014. Bank has decided to celebrate the year 2014-15 as Golden Jubilee Year.

Growth & Strength :

As on 31st March 2014, the bank has 1.61 lakh members and more than 18.02 lakh depositors. As on 31st March 2014, total business mix of the bank has reached over Rs. 15,031 Crore. As on 31st March 2014, Bank’s Deposits have reached upto Rs. 9331 Crore while Advances have reached upto Rs. 5700 Crore. The Bank has maintained a ratio of CASA Deposits to Total Deposits as high as 32.70%. The strength of the Bank is reflected in the fact that it’s Paid up Capital and Reserves have amounted to Rs. 1480.46 Crore and Investments are to the tune of Rs. 4029 Crore. The Capital Adequacy Ratio maintained by our bank is as high as 13.09%. For the financial year ended 31st March 2014, the Net Profit of the Bank after tax/provision stood at Rs. 98.05 Crore..
 
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Regarding deduction in TDS for Depositors
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arrow CHANGES IN TDS PROVISIONS IN BUDGET 2015- Click here
 

arrow While booking online Tickets through IRCTC website with the help of RuPay Debit Card, Use RuPay card (Powered by Kotak Bank) under option payment gateway / credit card .

 

arrow Abhyudaya Co-op. Bank Ltd. is the WINNER of IBA award Technology Bank of the year 2015 amongst Co-operative Banks.

 
arrow Charges for Transactions inclusive of Financial & Non Financials on other Banks ATM in a calendar month Rs.20 per transaction inclusive of service tax.For Savings Bank account holders Five such transactions are free in a calendar month.
 

arrowFor security reasons Bank has decided to block the ATM card of person not using card for more than 5 years. Old ATM card holders are requested to apply for new RUPAY Debit card & surrender the old ATM card to branch.

 

arrowAll the account holders are requested to use only 15 Digit Account Number for their fund transfer through NEFT & RTGS w.e.f. 10th Aug. 2014

 

arrow The Rules for Renewal of Term Deposit stands revised w.e.f. 15.04.2014 :-Click here

 
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