Saraswat Bank

  • Mumbai, Maharashtra, Prabhadevi, Mumbai, Maharashtra, India View on Map

Overview

  • Founded Date 1 January, 1900
  • Sectors Banking/NBFC/MFI
  • Posted Jobs 1
  • Viewed 139
  • Company Size Mid Cap

Company Description

Saraswat Co-operative Bank Ltd. is an urban co-operative banking institution, having its head quarter in Mumbai, Maharashtra, India and operating as a co-operative society since 1918.[3] The Founding Members of the society were J. K. Parulkar as Chairman, N. B. Thakur as Vice-chairman, P. N. Warde as Secretary, and Shivram Gopal Rajadhyaksha as Treasurer.[4]

In 1988, the bank was conferred with the Scheduled status by the Reserve Bank of India. It is the first co-operative bank to provide merchant banking services. The bank got a permanent license to deal in foreign exchange in 1979. Presently, the bank has a correspondent relationship in 58 countries covering nine currencies with over 162 banks.

The bank’s total business which was around ₹4,000 crore in the year 2000, has reached to ₹63,422 crore in 2020.[5]

In the year 2008, the bank launched a new logo branding with an objective to reconfirm the thrust of the bank on its core values i.e. “sense of belonging”.

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