Established in 1964 The Sangli Sahakari Bank ltd., Mumbai has been making strong and well endowed progress for the past 52 years. With stalwarts of cooperative movement like Shri Vasant Dada Patil as idols for inspiration and the following the footsteps of founder Late Shri Dadasaheb Chavan Sangli bank has not looked back since inception.

The bank has 5 branches namely in Girgaum, Dadar, Malad, Govandi and Vikhroli. Out of the 5, 3 branches operate even on Sundays owing to the requirement and convenience of customers.

Keeping abreast with the latest in technology, The Sangli Sahakari Bank has enabled the core banking facility for its customers and account holders benefit and to provide them with is quick and prompt service.

Total deposits of The Sangli Sahakari Bank Ltd., Mumbai have crossed Rs.190.76 cr during the year ending March 2016. The Net NPA is at only 7.32%.

The board of Directors constantly addresses queries and problems of members, customers and employees of the bank with genuine concern and provide solution after assessing and understanding the situation carefully.

The employees of Sangli Bank take it as their moral duty to provide the best service and keep the customer happy. The management at Sangli Bank is always on the toes when it comes to the benefits and better facilities for customers, this includes the continuous upgrade of employees with better training and empowerment of branch managers whereby decisions are taken at branch level on most issues pertaining to the customers. This not only saves the valuable time of the customer but also reiterates his faith in the bank.

This urge of every board member to work towards the betterment of the bank has helped the employees in serving the customers better and in turn helped the bank in increasing the business manifold.

History

Sangli bank early customers were the harassed mill workers of Mumbai. Every worker would be deep in debt of Moneylenders. These workers would borrow money from money lenders as and when required, poverty was rampant and repaying a hard task. The moneylenders in turn would wait for the salary day of these workers and snatch every possible rupee towards interest and repayment. The worker would be left with nothing again making him go back to moneylenders and get into some more debt.

It became necessary to break this cycle. Thus a few in the community, who hailed from Sangli District, got together and taking inspiration from well known Hon. Vasant Dada Chavan decided to do something about this problem. Coming together to form a cooperative and help the rest was the only motive, with this simple agenda all the mill workers were called for a get-together. A cooperative / credit society proposed at the cost of Rs.10/- per share. The required capital at that time was Rs.50,000/- to form a credit society, such overwhelming was the response that more than the said amount was collected.

For a daily wage labourer or a salary winner who would get a salary to the tune of Rs.100/- per month pulling out Rs.10/- out is for the society was a very difficult task in the circumstances but they did it. It could be seen from the plight of every worker how essential it was to form this society that would help in financing their minor needs and requirements of their families.

The formation of credit society first and successful transition (getting licence as a Cooperative Bank) happened in the year 1964. Formally named as ‘The Sangli Jilha Cooperative Bank Ltd.’ this bank started operating its first branch and main office from Panbazaar in Khetwadi area of Mumbai. Sangli Bank was able to shift into self owned premises shortly after operating from rented one in the beginning.

The first chairman of ‘The Sangli Jilha Coop erative Bank Ltd.’ Was Shri R. B. Patil who was succeeded By Hon. Dadasaheb Chavan, after he shifted to the United States of America. It was the able guidance of Dadasaheb Chavan that lead Sangli Bank through very successful years and the business multiplied well.

The setting up of ‘The Sangli Jilha Cooperative Bank Ltd.’ served many purposes. It not only freed every mill worker from the clutches of a ‘Sahukar’ (the dreaded moneylender) but also helped in financing new businesses, education of the children, marriages of daughters etc.