SVC Co-operative Bank received the recognition as the third best bank by The Maharashtra Urban Co-operative Banks' Federation Ltd. for the year 2023-24 in the prestigious category of 'Banks with Deposits Over Rs 5,000 Crore.'
FinTech BizNews Service
Mumbai, October 12, 2024: SVC Co-operative Bank Ltd. (SVC Bank – formerly known as The Shamrao Vithal Co-operative Bank Ltd.) with a rich legacy spanning 117 years, is delighted to announce that the bank has received the recognition as the third best bank by The Maharashtra Urban Co-operative Banks' Federation Ltd. for the year 2023-24 in the prestigious category of 'Banks with Deposits Over Rs 5,000 Crore.'
The award was received on behalf of SVC Bank by Shri. Ajay Sonarikar, Assistant General Manager & Regional Head, ROMG 1, and Shri. Raghupathy Parameshwar, General Manager & Zonal Head, PKM. The accolade was presented by Shri. Murlidhar Mohol, Union Minister of State in the Ministry of Civil Aviation and Minister of State in the Ministry of Cooperation, Government of India, during a ceremony held on September 28, 2024, in Pune. The event also witnessed the presence of prominent dignitaries, including Shri. Satish Kashinath Marathe, Director, Central Board of the Reserve Bank of India; Shri. Deepak Taware, Commissioner of Cooperation; Shri. Ajay Bramhecha, Chairman, The Maharashtra UCB Federation; and Shri. Milind Kale, Chairman, Cosmos Bank & Vice President of the National Federation of Urban Cooperative Banks and Credit Societies Limited (NAFCUB).
Commenting on the achievement, Ravinder Singh, Managing Director of SVC Co-operative Bank Ltd., said, “This is a moment of immense pride for all of us at SVC Bank. Being recognised as one of the top banks in this esteemed category underlines the bank's continued success in garnering robust deposits, especially in a challenging economic environment where many investors are shifting towards alternative financial instruments for higher returns. This award reflects the unwavering commitment, innovation, and teamwork of our entire SVC family. It inspires us to set even higher benchmarks in the banking sector.”
SVC Bank remains steadfast in its mission to provide exceptional banking services and products while continuing its growth trajectory and delivering value to its customers.
