Salient Features

1. The bank has merged with 'Satara Merchants Co-Op Bank' (SMCB) with 4 Branches and its head office w.e.f. 3rd Oct 2009.
2. The Business mix acquired is about Rs.19Crs. with 24 employees.
3. Opportunity to get 4 licenses ,one located at Satara, one located at Karad and two branches will be located at Chinchwad and Hadapsar.
4. Two branches will be opened very shortly. One at Kharghar and one at Dadar.
5. Thus the Bank will have 5 new branches in the current financial year making total Branch Network to 21 with two extension counters.
6. The entire business is conducted in high end technology platform with CBS with Any where Banking facility to the customers.
7. The Bank has already started RTGS for cheap funds transfer above Rs.1.00 lacs and for funds transfer below Rs.1.00lacs NEFT is already operational.
8. SMS banking with information sharing is already started.
9. ATM sharing with 5000 ATM will be done in next 4 months.
10. CMC and CRC i.e. Credit Monitoring Cell and Credit Recovery Cell is already operational helping the Bank in curtailing its NPA's.
11. Centralized Retail Banking Cell and Specialized Credit Cell will be operational before Dec 2009
12. Bank has tied up with IFFCO TOKYO for Non life insurance business on 7th Sept. 2009.

Other operational features of the bank are as under

1. All financial and regulatory norms prescribed by RBI have been fulfilled by the Bank, therefore, Classification of Bank in GRADE-I is continued for the year ended 31.03.2010.
2. 'A' rating given by Statutory Auditors for the year ended on 31.03.2010 & current year statutory audit is in process.
3. Net NPAs of the Bank are 0% as on 31.03.2010.
4. Consistent Net Profit for the last 36 years.
   Record Net Profit in 2008-09 at Rs. 7.35 crore (Highest in last 36 years)
5. Capital Adequacy Ratio of the bank as on 31.03.2010 is 14.63%.
6. Increasing deposits which itself is a symbol of confidence among shareholders / depositors !
   Deposits as on 31.03.2010 - Rs. 613.91 crores
   Deposits as on 31.03.2008 - Rs. 543.28 crores
7. RBI has authorised the Bank to accept NRE rupee deposit accounts, at our Main, Rambaug, Ulhasnagar and Ghatkopar branches.
8. The Reserve Bank of India has granted screen-based Negotiated Dealing System (NDS) membership to our Bank.
9. Bank is authorised agency to accept Stamp Duty under Bombay Stamp Act, through Franking facility available at Kala Talao Branch.
10. ATM facility at our Main, Rambaug, Kolsewadi, Ghatkopar, Kala Talao Syndicate , Netivali, Khadakpada Branches & offsite ATM near Railway Station.
11. The Bank has completed Core Banking Solution and offering facility of Any Branch Banking service to customers.
12. RTGS, NEFT & Online Tax Payment facility to Customers

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