Profile
  • Bank was established under the name of “The Ahmednagar Sahakari Bank Ltd.” on 6th October 1973 by Late.Solicitor Shri. G.S.Shelke and his colleagues.
  • The new name came “The Mahanagar Co-operative Bank Ltd.” into force with effect from 22nd February, 1998.
  • Subsequently the name of the Bank is changed from The Mahanagar Co-operative Bank Ltd. to "GS Mahanagar Co-operative Bank" with effect from 22nd February, 2018.
  • Bank has a total of 67 Branches and nonstop 12 hours service in 5 Branches and 60 ATM machines.
  • Area of operation covers the all over Maharashtra.
  • Fastest growing Bank in the Co-operative sector.
  • Introduction of Modern Banking Services such as ATM Centers, Debit Card, Home Banking, RTGS, NEFT, Demat,online banking, etc.
  • Introducing " Total Bank Automation"
History
  • This Bank was established by the people from the Ahmednagar Dist. in the name of “The Ahmednagar Sahakari Bank Ltd.” on 6th October 1973. Late.Solicitor Shri. G.S.Shelke and his colleagues were the motivating force behind the establishment of this bank. Late.Solicitor Shri G.S.Shelke became the first Chairman, Lt. Shri .G.A.Thube, the first Vice-Chairman, Shri. .S.S.Bhagat, the first Secretary. These were the people with deep and abiding ideals, faith, vision, optimism and entrepreneurial skills. These dedicated men in charge of the Bank had 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 of this bank.
  • The Bank has a humble but a very inspiring beginning. The minimum amount of Rs.10/- per share was required from prospective members and as such practically, from all over Mumbai, they collected the initial share capital of Rs.1.36 Lakhs. With this small amount they started this co-operative activity in Greater Mumbai. The Bank was initially set up to help Mill workers from Kalachowki and Lalbaug area and Dock workers from Carnac Bunder, Fruit, Vegetable and Flower vendors from Crawford market, Byculla and Dadar market, Fish vendors from Colaba and small number of shop keepers and self employed persons.
  • In the later stages, the Bank has changed its object and decided to cater the needs of common people from all sectors of the society. To obtain this, the bank has decided to change the name from “The Ahmednagar Sahakari Bank Ltd.” to “The Mahanagar Co-operative Bank Ltd.” The new name came into force with effect from 9th February, 1998. Subsequently the name of the Bank is changed from The Mahanagar Co-operative Bank Ltd. to "GS Mahanagar Co-operative Bank" with effect from 22nd February, 2018.
  • Thanks to the sustained and assiduous efforts over 50 years after its inception, the bank had gained Strong foundation in terms of its membership, resources, assets and profits. During this period the bank grew from strength to strength. The Bank has grown in stature, progressed in its social and economic objectives and produced an image of what an ideal bank should be. It is secured ‘A’ grade classification for all the years from the beginning. Th e Reserve Bank of India awarded scheduled status to the Bank on 30th January 1998. This also boosted the confidence of our members, account holders and depositors of the Bank.
  • At the helm of the Bank affairs, the bank has been consistently fortunate to have a galaxy of illustrious men. These erudite men with excellent academic qualifications on the Board of Directors of the Bank have given the Bank the benefit of wisdom, expertise and experience with its rich heritage and the solid support that the Bank receives on all fronts from all its constituents. The Bank is confident to make future wisely and consistently. Bank has a total of 67 Branches and nonstop 12 hours service in 5 Branches. Area of operation covers the all over Maharashtra. The Bank is perhaps the fastest growing Bank in the Co-operative sector.
  • Besides this, the Board of Directors have visualized the future increasing competition in this industry and also the expectations of Reserve Bank of India. For this purpose, the Board of Directors is considering the introduction of Modern Banking Services such as ATM Centers, Debit Card, Home Banking, RTGS, NEFT, Demat, IMPS, Net Banking, etc. With this we are fully geared to face the cut throat competition in the Banking Industry in the near future.
  • Innovative Banking is another area of operation that GS Mahanagar Bank is currently focusing on for a sustainable long term growth. The Bank has always endeavored for providing satisfactory customer service with the help of the latest technology. The Bank has provided fully computerized services to its valued clients. With a view to meet the challenges of technologically advanced banking system and to upgrade its existing technology, the bank has introduced "Total Bank Automation" to provide the facility of inter-branch connectivity for any time and any branch banking transactions.
Technology
  • "GS Mahanagar Co-op. Bank Ltd", established in the year 1973, a scheduled co-operative bank, serving with customer base touching around 4.5 Lakhs people. Bank is having regional presence in Maharashtra with 67 Branches. Bank adopted the initiatives in computerisation way back in 1986 and migrated to Core Banking Solution in 2006-07. It not only migrated to CBS but also effectively leveraged its technology for business development and enhancing customer satisfa ction. Now Bank is using FINACLE Core Banking Solution.
  • The first ATM of the Bank was installed in the year August, 2008 and today bank has a cluster of 60 ATMs. In the year 2015, Bank joined the NFS Network of National Payment Corporation of India Ltd. As a result, the customers of the bank could get the benefit of banking services through more than 2,37,000 ATMs spread across the country. With appropriate and customised Business Process Re-engineering & implementation of various verticals within the bank, t he technology is being used to its fullest potential. With the setup of independent DC / DR. The co-operative banking movement has been witnessing several challenges for years on end and one of the serious challenges is adopting new technologies. The Bank feels that there is a gap amongst the co-operative banks for the decision making in respect of technology initiatives. The gap could be decision in respect of technology, software evaluations, hardware configurations, business processes and its re-customisation and reengineering. At GS Mahanagar Bank, we believe that we have the required skill sets, the knowledge and the will to support the structure effectively & support the co-operative banking structure in a cost effective manner.
  • We are NPCI's first approved cooperative bank to offer NFS.
  • Membership in CTS.