Bank History

          Nandura is a town situated on the banks of river ‘Dnyanganga’ There is an ancient & beautiful temple of  “shiva jagdamba” as well as the Samadhi of  Shri Sant ‘JangliMaharaj’. On Dated.16-Apr-1964 late Shri Vasantraoji Kasbekar had organised a group of honoured and devoted people in Nandura and guiding and Motivated them for working in banking sector on co-operative basis.He also aimed to raise the financial level of the society. All the devoted and hardworking people of group became ready to work toghetherly & whole heartedly in this sector.

          With this great & Motivational thoughts the nandura urban bank has been founded. Now our  bank, has stepped in its 55 year also progressing whole credit goes to the initiative Board of Directors who established such a nice bank the representative members are.Late Shri Wamanraoji Naphade, Late Shri Manaksethji Bhutada, Late Shri Dr. Balasahebji Tare, Late Shri MohanSeth Kothari, Late Shri Madanlalji Natthani, Late Shri Ramanlalji Navgaje, Late Shri Premsukhdasji Daga, Late Shri Annasahebji Balapure, Late Shri R.L.Ahir, Late Shri Bhalchandraji Pande, Shri Dada Waghole, and Shri Satyanarayanji Harkut. The bank has celebrated golden jubilee year 2014-2015. The bank working area has been approved by RBI and co-operative department as the whole Maharashtra state. The bank has his head quarter in Nandura and 20 branches in total.

          The bank has a great achievement history of last 54 years.and it has got ‘A’ Class in banking audit. All the 20 branches are spreaded in all over Maharashtra viz, in Buldana district, the bank has main branch in nandura, Jalgaon Jamod, Malkapur, Sangrampur, Khamgaon, Motala, Shegaon, Buldana, Cotton market Nandura, In Hingoli district Hingoli, In Wardha District Arvi and Pulgaon, In Akola District Gandhi Road branch Akola, Jatharpeth branch Akola and Akot. In Jalgaon Kh district Jalgaon Kh and Bodwad, In Jalna District New mondha and Jalna City, In Amravati district Daryapur Branch.

          Bank is adopting all the latest technology and totally working on core banking system. The banks total working capital is Rs.314 crore 78 lakhs. The total Members of the bank is 21095 and the total share capital is Rs.7 crore 85 lakhs. The banks reserved fund and other fund is Rs.42 crore 44 lakhs and total deposit is Rs.254 crore 58 lakhs. The bank distributed total loan of Rs.184 crore 73 lakhs. The total investment of bank is Rs.73 crore 12 lakhs. The bank has achieved gross profit of Rs.5 crore 67 lakhs, After the deducting the necessary provisions the bank has earned a net profit of Rs.3 crore 26 lakhs in the financial year 2017-2018. Bank NPA loan ratio is gross 2.19%, and Net NPA is 0.87%, As the above figure reviewed the bank has got the honour as a public bank.

          In 1977 bank has constructed its own building and achieved the honor of becoming the first bank in Vidarbha,who has its own head office. At present the bank has its own building(‘KALPATARU’) at Nandura, Malkapur, Jalgaon Jamod, Hingoli,and Sangrampur. The bank has purchased a plot for Arvi branch and the board of director has the intention to start the construction building soon.All the branches are well furnished & decorated time to time. bank is providing loans to economically weak people as well as industrialists in the area of buldana district on the basis concessional rates. Bank has introduced “WOMENS SELF EMPLOYED GROUPS LOAN SCHEME” and 1600 women barrower have benefited from this scheme. For unemployed and well educators we have swapnpurti loan scheme has been started and under this scheme, bank has distributed the loan upto Rs.1 lakh for small and marginal farmer. Bank has also give loans to the people who are economically weaker handicraft. & try to make them liable to live their life peacefully.

          Bank has tried to give maximum dividend to its members from time to time. Bank has started new deposit scheme from time to time for its members and customers, Not only in economical sector but also in the social activities the bank is always ready to contributing every year  the  bank the bank orgainised many social programs like plantation & presenting of plants. It has a ambulance associated by the staff multipurpose organisation & also “SWARGRATH”, every year bank has organised the ganesh-utsava festival whole heartly & happily Under efficent guidence of the existing board of  directors Chairman Shri Pralhadbhau Bharambe, Vice Chairman Shri Jaggannathji Dange, Managing Director Shri Champalalji Zanwar and Directors Shri Vitthaldasji Daga, Shri Avinashdada Naphade, Shri Bharatkumarji Bhutada, Shri Satramji Hargunani, Shri Arunbhau Pandao, Shri Sahebraoji Jaware, Shri Anupbhau Kolte, Shri Ganeshji Natthani, Mrs.Ashadevi Khandelwal, Mrs.Sumandevi Mihani, Expert director Shri Ghanshyamdasji Chandak, Shri Appurv Deshpande. Employee Representative Shri Gajanan Sharma, and Cheif Executive Officer Shri Suresh Rane.

          The bank is functioning and continuously moving towards the progress. The employees are highly valued in the progress of the bank. It’s really a extremely great achievement of the bank. From the last 3 years bank has achieved the award of excellent civil co-operative bank from the Maharashtra state co-operative bank association limited Mumbai. All the members and customers are equally coperative in the progress of the banks. The bank is planning to start the transaction through mobile banking for the customers.