History

Exactly 50 years ago few dedicated persons came together with a common goal to help the poors & downtrodens with financial help in the locality of Mahal. They had a aim that any person in genuine financial problem or in need of finance to fulfill their dreams whether personal or professional should have an institutional system and he should not fall pray to traditional money lenders. The dream of these persons came true on 8th April 1963 when Gandhibag Navyug Urban co-operative Credit Society came in to existence. Since the working of society was progressing very well RBI issue a licence to convert this society into Bank on 1st January, 1977 & subsequently RBI issued a licence to carry on Banking Business on 18th August, 1986.

Since this period the Bank has grown by leaps & bound with a modest beginning in a small room of about 100 sq.ft. over a temple of Sant Kejaji Maharaj Deosthan in Mahal to now bank has over 5937.52 sq.ft. of land at Chitnispark, Mahal, Nagpur. Bank is now constructing his own big premises with all latest facilities like ATM, Core Banking Solutions, Lift, Ample Space for parking etc. Bank  will soon be crossing a total mix of business to about Rs. 250/- crores. Bank has now a deposit base of Rs. Rs. 150/- crore & Advances of about 102 crores upto 31st December, 2012. Bank is having about 6 branches at Mahal, Main Branch & Head Office, at Ganjakhet, Tin Nal Chowk, MIDC at Hingna Road, at Mhalginagar near Ring Road, Manewada  at Besa Road & Pardi Branch  at Bhandara Road. Bank has a area of operation in Nagpur District, Wardha District, Bhandara District, Chandrapur District and Amravati District.

Milestones :

1)    Rs. 100 crore deposit in 2009-10.
2)    Rs. 150 crore deposit in 2013.
3)    Rs. 100 crore Advances in 2012.

  • Fully computerized since 2002-2003.
  • Crossed Rs. 250 crore businessmix   in 2012-13

Key Financial Indicator

  • CRAR        :    14.07%
  • Gross NPA    :      5.59%
  • Net NPA        :      3.64%
  • Net Worth    :    1110.68

 

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