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Type

Public company

Industry

Banking
Financial services

Founded

14 September 1918

The Saraswat Cooperative


Bank Ltd,
Corporate Centre,
Saraswat Bank Bhawan,
Headquarters
Plot no 953,
Appasaheb Marathe Marg,
Prabhadevi,
Mumbai, India
Products

Investment Banking
Commercial Banking
Retail Banking
Private Banking
Asset Management
Mortgages
Debit Cards
Consumer Banking
Current Account
Demat Account
Term Deposits
Corporate Banking
Finance And Insurance
Working Capital
Term Loan
Corporate Loan
Bank Guarantee
Bill Discounting
Import And Export Finance
- Trade Finance

Internet Banking
SMS Banking
Mobile Banking
Revenue

394,095.60 million
(US$5.9 billion)(2013-14)[1]

Net income

1,470.90 million
(US$22 million)(2013-14)[1]

Number of
employees

4351[1]

Website

Official Website

Company profile
The Bank has a very humble but a very inspiring beginning. On 14th September
1918, "The Saraswat Co-operative Banking Society" was founded. Mr. J.K.

Parulkar became its first Chairman, Mr. N.B. Thakur, the first Vice-Chairman, Mr.
P.N. Warde, the first Secretary and Mr. Shivram Gopal Rajadhyaksha, the first
Treasurer. These were people with deep and abiding ideals, faith, vision,
optimism and entrepreneurial skills. These dedicated men in charge of the
Society had a commendable sense of service and duty imbibed in them. Even
today, our honorable founders inspire a sense of awe and respect in the Bank
and amongst the shareholders.

The Society was initially set up to help families in distress. Its objective was to
provide temporary accommodation to its members in eventualities such as
weddings of dependent members of the family, repayment of debt and expenses
of medical treatment etc. The Society was converted into a full-fledged Urban
Co-operative Bank in the year 1933.

The Bank has the unique distinction of being a witness to history. The Bank,
which was originally founded in 1918, i.e. close on the heels of the Russian
Revolution, also witnessed as a Society and as Bank - the First World War, the
Second World War, India's freedom Movement and the glorious chapter of postindependence India. During this cataclysmic cavalcade of history, the Bank as a
financial institution and its members could not of course remain unaffected by
the economic consequences of the major events. The two wars in particular
brought in their wake, paucities of all kinds and realities and stand by its
members in distress as a solid bulwark of strength. The Founder Members and
the later-day managements of the Bank continued to demonstrate their
unwavering faith in the destiny of the common man and the co-operative
movement and they encouraged the shareholders to save despite all odds.

Thanks to these sustained and assiduous efforts over 25 years after its inception,
the Bank had gained a strong foundation in terms of its membership, resources,
assets and profits. By 1942, the Bank was fulfilling all the banking needs of its
customers.

During the late fifties, the Bank grew from strength to strength. The Bank had
established five branches within the city of Mumbai and one each at Pune and
Belgaum. In its 50th year, the Bank chose a bee motif to symbolise the Bank's
emblem - a fitting and appropriate characteristic of a Bank that believed in hard
work, a search for all that is good, a team spirit to achieve its objectives and
selfless service to its members and customers. The Bank had grown in stature,
progressed in its social and economic objectives and produced an image of what
an ideal bank should be. Resultantly, in the year 1977-78, the Bank's gross
income crossed the Rs.3.00 crore mark for the first time.

In 1988, the Bank was conferred with "Scheduled" status by Reserve Bank of
India. The Bank is the first co-operative bank to provide Merchant Banking

services. The Bank got a permanent license to deal in foreign exchange in 1978.
Presently the Bank is having correspondent relationship in 45 countries covering
9 currencies with over 125 banks. In 1992, the Bank completed 75 years.
Platinum Jubilee Celebrations were inaugurated on 14th September, 1992 and
the Bank also crossed the business level of Rs. 700 Crores.

The beginning of the 21st century has been a giant leap forward for the Bank.
The Bank chose a path of organic/inorganic growth and our pace of growth
accelerated .The Bank's total business which was around Rs.4000 Crore in 2000
almost tripled to Rs.15295 Crore in 2007.

In the year 2008, the Bank launched a Branding Initiative . The purpose of such
an exercise was to reconfirm the thrust of the Bank on its core values, which can
be summed up as a "Sense of Belonging". The name of the Bank should always
inspire a Sense of Belonging in all its stakeholders and the Bank continues to
fulfill the changing needs and expectations of the customer with unflinching
gusto and aplomb.

MISSION STATEMENT
"To emerge as one of the premier and most preferred banks in the country by
adopting the highest standards of professionalism and excellence in all the areas
of working"

MILESTONES
In the last two decades the Bank has witnessed a steady growth in business and
also taken several Strategic Business Initiatives such as undertaking Business
Process Reengineering initiative, merging seven Cooperative Banks and then
consciously nurturing them. The Bank tied up with VISA International for
issuance of Debit Cards.

In 2011, the Bank was granted permission for All India Area of Operation by
Reserve Bank Of India.

The Bank has crossed the milestone of Rs.50000 crore by 31st March 2016.The
Bank has a network of 283 fully computerized branches as on 31st March, 2016
covering six states viz. Maharashtra, Gujarat, Madhya Pradesh, Karnataka, Goa
and Delhi. The Bank is providing 24-hour service through ATMs at 255 locations.

The Bank has an ambitious business expansion plan in place to have a presence
in all major cities of the country and reach a business level of Rs.100000 crore by
2021

It is a matter of immense pride for the Bank that its new Corporate Office at
Prabhadevi, Mumbai has become operational. The office establishes our strong
presence in the financial capital of the country. The massive edifice in crystal
glass in the heart of Mumbai gently reminds everyone of the Numero-Uno
position which the Bank holds in the Cooperative Sector. The usage of state of art
technology coupled with personal ambience to make everybody comfortable
once again reiterates the Bank's adherence to "Think Global, Act Local". The
address of our new Corporate Office is as under:

The Saraswat Cooperative Bank Ltd,


Corporate Centre
Ekanath Thakur Bhavan
Plot no 953, Appasaheb Marathe Marg
Prabhadevi, Mumbai -400 025
Telephone :022-66005555

Board of Directors

Shri
G. E.
Thaku
r
Chair
man

Shri
S. K.
Sakha
lkar
ViceChair
man

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from
19th
July
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to 6th
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Products

Bank provides variety of credit facilities to its Corporate Clients as under:

Working Capital

Corporate Loan

Term Loan

Export financing - Pre and Post shipment

Import Finance

Bank Guarantee

Bill discounting

Letters of Credit (Inland & Foreign)

Property Loan

Rental Loans

Social Initiatives

Corporate Social Responsibility


(CSR) - "YOUR OWN BANK !"
Your Board of Directors believes that every organization must have over-arching
and over-the horizon goals. In your own Bank, Corporate Social Responsibility
(CSR) is not a new fashion but it is an old creed. Our founders and their
successors understood and underscored the principle that a cooperative
institution must always stay connected with the needs and aspirations of the
society at large. CSR constitutes the umbilical cord that connects your bank to
the society. Today the Bank is ninety five year old but the importance of CSR
was understood presciently and intuitively by the leaders of your Bank in its
infancy itself. The corporate memory is resplendent with many examples of the
early awareness of CSR in your Bank. We at the Board of Directors can never
forget the laudable gesture of late Wamanrao Varde and his associates on the
Board then in spontaneously responding to the grave scarcity of foodgrains
during the Second World War and in starting on behalf of your Bank a ration
shop at Girgaum in Mumbai to make available foodgrains to all. At that time,
Saraswat Bank was a wholly community Bank and no Saraswat of whatever
calling ever asked late Wamanrao Varde and his colleagues as to how he could
venture into opening of a ration shop when the Banking Law, the Cooperative
Law and even the Bye-laws of the Bank had no provision whatsoever to
facilitate its opening. This was so because all members of the community
always understood that a co-operative institution must always have a social
purpose..
Your Bank thereafter also started scholarships and apprenticeships for deserving
students and through that process built the careers of several young men. CSR
therefore has been at the heart of your Bank. Your Bank has been providing
financial assistance to many social, educational and medical institutions by way
of grants every year from its funds. From time to time your Board of Directors
responded to national and natural calamities like flood, famine, earthquake etc.,
in a magnificent way and employees of your Bank at all levels also contributed
their mite in equal measure towards such emergencies. Your Bank has therefore
taken a few initiatives both at macro and micro level, which spell out our vision
of Corporate Social Responsibility (CSR).

SARASWAT BANK DONATES RUPEES ONE CRORE


TOWARDS DROUGHT RELIEF

Taking a serious note of the drought situation prevailing in various parts of


Maharashtra, Saraswat Bank, Indias largest Urban Co-operative Bank which
recently crossed a total business of Rs. 50,000 crore, has donated an amount of
Rs. 1,00,00,000/- (Rupees One Crore) towards drought relief.
The Bank has donated Rs. 50,00,000/- (Rupees Fifty lakh) each to the Chief
Ministers Drought Relief Fund, Maharashtra and to the NAAM Foundation, an
NGO started by actors Nana Patekar and MakarandAnaspure, specifically aimed
at alleviating the impact of drought.
Mr. Gautam E. Thakur, Vice Chairman handed over the cheque of Rs.
50,00,000/- to Honble Chief Minister of Maharashtra, Shri DevendraFadnavis at
the CMs residence, Varsha, along with his colleagues Mr. S.K. Sakhalkar,
Chairman; Mr. Kishore Rangnekar, Director; Mr. S.K. Banerji, Managing Director
and Mr. A.S. Jain, Chief General Manager.
Mr. Gautam E. Thakur and Mr. Kishore Rangnekar handed over another cheque
of Rs. 50,00,000/- to Mr. Nana Patekar, Founder, NAAM Foundation.
Saraswat Bank is the largest financial institution run on co-operative principles
in Maharashtra and is rightly called Maharashtras Own Bank. The Bank has
always taken initiatives at the macro and micro level which spell out its vision of
Corporate Social Responsibility (CSR) towards Maharashtra.
The Bank has always followed the principle of giving back to society, a part of
what it has received. From donations to NGOs to absorbing family members of
martyrs of the 26/11 terrorist attacks, the Bank has always upheld needy and
worthy causes.
Reaching out to the needy

As part of CSR, at the macro-level


your Board of Directors took
serious cognizance of the plight of
farming community and
continuing suicides of farmers
and with a view to instilling hope
among farmers, we supported the

'Project Hope' of late Baba Amte's Maharogi Sewa Samiti at village Mulgavan,
Taluka - Jhari Jamini, Distt. Yeotmal. We did so with a substantial donation of Rs.
1.00 crore to this project, where experts and volunteers are engaged in offering
hope and succor to thousands of farmers by building check dams and initiating
farmers into newer cultivation practices enabling them to bolster income
generation and income supplementation.

Services
Debit Card
VISA Debit Card

Visa Classic EMV International Debit Card

Visa Platinum EMV International Debit Card

Rupay Debit Card

Rupay Classic Chip International Debit Card

SMS Banking

SMS Banking brings the Banking at your fingertips. Bank has introduced the
SMS Banking Facility for its customers.
Under SMS Banking following facilities are offered to the customers.

Welcome message on New Account Opening

Latest Balance in the Account

Details of the last 3 transaction in the account.

Transaction Alert for all transactions through ATM/POS/E-Commerce and


Netbanking and other transactions above Rs 5000/-

Alert for Sweep In Sweep Out facility (Sweep In Sweep Out facility
available for Elite Accounts only)

Alert for dispatch of Chequebook/Visa Debit Card

Kindly note following points before sending an SMS:

All the below-mentioned SMS requests should be sent through the


registered mobile number only.

The keywords are case-sensitive.

Please do NOT type the pointed or square brackets in your SMS.

There should be a single space between each word in the syntax.

You have to type the product (e.g. SBPUB) and the account number
(e.g.12345) in the keyword.

The keywords and their syntax for SMS Requests are given below:

Mobile Banking Number - 9223810000


Request

SMS Message

Information

Balance Enquiry

Last 3 transactions

SBAL
Example: SBAL SBPUB
10 SBAL CAPUB 12

Gives you the balance for the


specified account number. The
account number is optional. If
no account number is specified,
you will get the balance in your
primary account.

LST3
Example: LST3 SBPUB
10 LST3 CAPUB 12

Gives you the last three


transactions in the specified
account. The account number is
optional. If no account number
is specified, then returns last
three transactions in your
primary account.

BLOCK(space) (last four


digits of specific card
Specific card will be
Blocking of Specific
number) to
permanently blocked. You will
Card
9223810000
have to apply for a fresh card.
Example BLOCK 1234
Blocking of Multiple
Send keyword as
Cards (Use this
All the cards will be
BLOCK to 9223810000
option when you do
permanently blocked. You will
not remember your
have to apply for a fresh card.
Example BLOCK
card number.)

Stop payment of
cheque

Send keyword as
STOPCHQ(Space) (15
digit Account no)
(Space) (Cheque No.) to Specific Cheque will be stopped
9223810000.
and informed by SMS.
Example STOPCHQ
126203100009999
12345

Register your email id

Send keyword as
EMAILID(Space)
(domain.com) to
9223810000.
Example EMAILID
abc@xyz.com

Your email id will be registered


as Registered Email ID (REID)
and confirmed by SMS.

Unlocking of ATM
PIN

Send keyword as
UNLOCKCARD to
9223810000.

PIN, if locked due to wrong


attempts, will be released.

Unlocking of
Netbanking Id

Send keyword as
UNLOCKIB to

User, if locked due to wrong


attempts, will be released.

9223810000.
Send keyword as
Unlocking of Mobile
UNLOCKMB to
Banking Id
9223810000.

User, if locked due to wrong


attempts, will be released.

Mobile Banking - GoMo


Mobile Banking - GoMo

Go-Mo is a comprehensive Mobile Banking platform that will enable customers


to manage their own accounts with incredible ease from wherever they have
mobile connectivity. The product will give customers greater ease of use and a
higher degree of convenience through an intuitive and design rich interface.
The fund transfer facility offered through mobile banking is provided through
the National Financial Switch (NFS) network of the National Payments
Corporation of India (NPCI). This fund transfer facility comes under Immediate
Payment Service (IMPS) of NPCI. IMPS facilitates customers to use mobile
instruments as a channel for accessing their bank accounts and navigate
interbank fund transfers in a secured manner with immediate confirmation
features. It offers an instant, 24X7, interbank electronic fund transfer service
through mobile phones.
Go-Mo facility will be offered free of cost to our customers.

Social Initiatives

Corporate Social Responsibility


(CSR) - "YOUR OWN BANK !"
Your Board of Directors believes that every organization must have over-arching
and over-the horizon goals. In your own Bank, Corporate Social Responsibility
(CSR) is not a new fashion but it is an old creed. Our founders and their
successors understood and underscored the principle that a cooperative
institution must always stay connected with the needs and aspirations of the
society at large. CSR constitutes the umbilical cord that connects your bank to
the society. Today the Bank is ninety five year old but the importance of CSR
was understood presciently and intuitively by the leaders of your Bank in its
infancy itself. The corporate memory is resplendent with many examples of the
early awareness of CSR in your Bank. We at the Board of Directors can never
forget the laudable gesture of late Wamanrao Varde and his associates on the
Board then in spontaneously responding to the grave scarcity of foodgrains
during the Second World War and in starting on behalf of your Bank a ration
shop at Girgaum in Mumbai to make available foodgrains to all. At that time,
Saraswat Bank was a wholly community Bank and no Saraswat of whatever
calling ever asked late Wamanrao Varde and his colleagues as to how he could
venture into opening of a ration shop when the Banking Law, the Cooperative
Law and even the Bye-laws of the Bank had no provision whatsoever to
facilitate its opening. This was so because all members of the community
always understood that a co-operative institution must always have a social
purpose..
Your Bank thereafter also started scholarships and apprenticeships for deserving
students and through that process built the careers of several young men. CSR
therefore has been at the heart of your Bank. Your Bank has been providing
financial assistance to many social, educational and medical institutions by way
of grants every year from its funds. From time to time your Board of Directors
responded to national and natural calamities like flood, famine, earthquake etc.,
in a magnificent way and employees of your Bank at all levels also contributed
their mite in equal measure towards such emergencies. Your Bank has therefore
taken a few initiatives both at macro and micro level, which spell out our vision
of Corporate Social Responsibility (CSR).

SARASWAT BANK DONATES RUPEES ONE CRORE


TOWARDS DROUGHT RELIEF

Taking a serious note of the drought situation prevailing in various parts of


Maharashtra, Saraswat Bank, Indias largest Urban Co-operative Bank which
recently crossed a total business of Rs. 50,000 crore, has donated an amount of
Rs. 1,00,00,000/- (Rupees One Crore) towards drought relief.
The Bank has donated Rs. 50,00,000/- (Rupees Fifty lakh) each to the Chief
Ministers Drought Relief Fund, Maharashtra and to the NAAM Foundation, an
NGO started by actors Nana Patekar and MakarandAnaspure, specifically aimed
at alleviating the impact of drought.
Mr. Gautam E. Thakur, Vice Chairman handed over the cheque of Rs.
50,00,000/- to Honble Chief Minister of Maharashtra, Shri DevendraFadnavis at
the CMs residence, Varsha, along with his colleagues Mr. S.K. Sakhalkar,
Chairman; Mr. Kishore Rangnekar, Director; Mr. S.K. Banerji, Managing Director
and Mr. A.S. Jain, Chief General Manager.
Mr. Gautam E. Thakur and Mr. Kishore Rangnekar handed over another cheque
of Rs. 50,00,000/- to Mr. Nana Patekar, Founder, NAAM Foundation.
Saraswat Bank is the largest financial institution run on co-operative principles
in Maharashtra and is rightly called Maharashtras Own Bank. The Bank has
always taken initiatives at the macro and micro level which spell out its vision of
Corporate Social Responsibility (CSR) towards Maharashtra.
The Bank has always followed the principle of giving back to society, a part of
what it has received. From donations to NGOs to absorbing family members of
martyrs of the 26/11 terrorist attacks, the Bank has always upheld needy and
worthy causes.