Bank History

The Rajesaheb of Sangli Sansthan, Late His Highness Chintamanrao Appasaheb Patwardhan, was eager to implement progressive reforms in the then provincial state and to achieve the upliftment of the people, so he established the bank on 28th March 1927 with a share capital of only Rs. 5000/- by taking experienced and good officers from the then state.

Since the establishment of the bank, the bank has benefited from managers like Late Nanasaheb Joshi, Late Madhavrao Bhide. After the merger of the Sansthans after independence, the bank was duly registered as the South Satara District Central Bank on 27th July 1950 and in 1951, the first government-appointed board of directors was elected under the chairmanship of Late Bhagwantrao Daptardar. In the following period, elections were held in the year 1955/56 and the public-appointed board of directors of the bank came into existence. Late Rambhau Arwade was appointed as the chairman and Late Madhavrao Bhide as the vice-chairman. Gulabrao Patil was elected. During this period, three sugar factories, Sangli, Warna, Krishna, were registered. During that period, a large amount of loans were provided for the purchase of shares of these sugar factories and for sugarcane cultivation. At that time, Y.S. Borgaonkar worked as the manager of the bank. After that, he was elected to the Reserve Bank. After that, P.B. Takvekar worked as the manager from 1956 to 1986. In the year 1956/57, the late Gulabrao Raghunathrao Patil was elected as the chairman of the bank. He successfully held the post of chairman of the bank for 14 consecutive years. During his tenure as chairman, he brought fame to the bank and made a distinctive mark of the bank's work throughout Maharashtra.

In 1957, the foundation stone of the bank's head office building was laid at the warehouse area of ​​Sangli by the then Chief Minister Yashwantraoji Chavan and the construction was completed within a year and inaugurated on 23/02/1958 by the then Governor of the Reserve Bank of India B. Venkatpayya and under the chairmanship of Chintamanrao Patwardhan Rajesaheb.

In 1960, Sangli district became independent and its bank started functioning as the Sangli District Central Bank. The bank decided to give priority to the provision of medium-term loans for the growth of cooperative societies throughout the district, as well as for the agricultural loans of the farmers of the district, for the agricultural business and for the development of agriculture. The then President of the bank, Late Gulabrao Patil, worked very hard to convince all levels of various schemes for agriculture and agricultural development and made continuous efforts to implement loan schemes for new agricultural businesses through the bank.

The government appointed a committee under the chairmanship of Late V.M. Dandekar, an economist, to study the arrears that increased during the drought of 1972/73. This committee included Late Gulabrao Patil, Late Bajirao Balaji Patil. Later, knowledgeable individuals like Late Vasantdada Patil, Late Rajarambapu Patil, Late Gulabrao Patil, Dr. P.S. Thakur and Late Vasantrao Arve conveyed the idea that it would be beneficial and beneficial to farmers to focus on fruit production in the agricultural business and to cultivate fruits, and conscious efforts were made through the bank to increase the number of vineyards.

Late Bajirao Balaji Patil held the post of chairman of the bank from 1970 to 76. Late Bajirao Balaji Patil was also a member of the board of directors of the bank. Gulabrao Patil worked for about 28-30 years, holding the post of Chairman of the bank for 14 years. During his tenure as Chairman, he earned the bank a reputation as an ideal bank in the state. During his tenure as Chairman, the Golden Jubilee of the bank was celebrated in 1977 in the presence of the then Chief Minister, Late Dr. Vasantdada Patil and the Speaker of the Maharashtra Legislative Assembly, Late Balasaheb Desai.

Along with the financial activities of the bank, the bank consciously tried to maintain a sense of social commitment. In that situation, it expressed its participation by donating Rs. one lakh for the construction and establishment of Shivaji University. At the same time, it also provided financial assistance to various colleges in Sangli district for building construction, laboratories, educational materials and libraries. Similarly, the bank expressed its participation by donating Rs. 2.00 lakh for the Late Vishnu Anna Award given by the Maharashtra State Cooperative Bank Association.

In the year 1980-81, the bank faced a financial crisis and due to the loss, the Reserve Bank took the bank under rehabilitation and appointed a rehabilitation committee under the chairmanship of the Reserve Bank officer Hon. Bapatsaheb to decide the policy of the bank's operations and for its progress. The board of directors of the bank and the bank's employees worked very hard to overcome the difficulties of the then situation, and the bank came out of rehabilitation within a year and the bank got out of that crisis. After this, the graph of the bank's progress started to move forward every year.

Due to the increasing volume of the bank's operations, the foundation stone ceremony of the present building for the head office was done by the late Dr. Vasantdada Patil. Later, the present administrative head office building was inaugurated by the then Chief Minister of Maharashtra Hon. Shivajirao Patil Nilangekar.

Our Mission And Vision

Our Bank’s Main motto is not only to earn maximum profit but Maximum Satisfaction to our Customers and Share Holders

• We continuously make Profit and Pay Dividend upto 15% ,since establishment of our bank,continuously without breaking any financial year in between.
• We are first not only in Gujarat but also in India in whole co-operative sector, who started Perpetual Non-cumulative Preference Shares (PNCPS) to our Loanee and pay dividend regularly.
• We have restricted Gross NPA below 1% of our total advances .

Our Bank's Vision

• Our projection data for business is Rs. 2,100 crores.
• Get Scheduled Bank's status in next 2 to 3 years.