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The bank was established on the auspicious day of Dasera on 20.10.1969 at the hands of the Chief Minister Of Maharashtra late Shri. Vasantrao Naik from the beginning till this date, the bank has been making steady progress and did not suffer loss even once. The share capital of the bank at the beginning was Rs. 1.09 Lacs and at present it is Rs. 3759.03 Lacs In 1970 the deposits with the bank were to the extent of Rs. 3.39 Lacs they were increased to Rs. 122192.64 Lacs. The bank is earning profit since its inceptions. At present there are 612 employees in the bank providing service. The bank is giving dividend to its share holders since its inceptions.
Maharashtra state has played a very vital role in the development of co-operative movement in India. Many co-operators have dedicated their lives for the upliftment of common man through this movement. Amongst these, late Shri. Jamanlalji Goenka & Late Shri. Vinaykumarji Parashar are the notable personalities, who were inspired by the sense of equity & love for social justice.
Have established The Akola Janata Commercial Co-op Bank Ltd., Akola in the year 1969, on the auspicious day of Vijaya Dashmi. With a view to cater the need as well developing city Akola. Since last 4decades, the bank is servicing the common people of Maharashtra & Madhya Pradesh, through its computerized 36 branches & 4 extension counters and gradually vanquishing the pinnacles by the achieving the status of multi state scheduled Bank.
In spite cut throat competition in the banking field, and facing the challenges of globalization and the Basel reforms, the bank marching the glorious path earning profit and paying the dividends to the shareholders since inception. From the social obligation point of view it has formulated various schemes for the upliftment & welfare of the weaker section, such as Educational loan at comparatively low rate, banking service at a glance to senior citizen, handicapped & women. It is providing various customers service, such as Franking, D-mat, General Insurance etc.
It has played an active role in various water & other charitable activities. Last year the bank was honored with the title of "Excellent Schedule Bank" by the Vidarbha Urban Co-op Bank Association Nagpur.
For this glorious achievement and success the team work of Board of directors who have taken in keen interest and pain staking hard work for its development. Amongst these veteran, Shri Sakarchandji Shah Chairman, Shri Gyanchandji Garg Vice-Chairman is a man of name & fame in business & Industrial field. From others Ramakantji Khetan, Bhimraoji Dhotre, Rashmikantji Patel, Prof. K.G.Deshmukh, Gurmukhsingh Gulati, Santoshji Gole, Kamalkishorji Kagliwal, Biharilalji Biyani, Sunilji Tulshan, Dr.Subhashchandraji Tiwari, Shivprakashji Mantri, Sau.Manorama Parashar, Sau.Pratibhatai Janorkar, Jayantibhai Hariya, Dr. Manik Dhoot, P.M.Sadanshiv, Vilas Agrawal(Staff Representative) is a studious, hard worker and the best administrator, who is successfully managing the affairs of the bank.
With the co-operation of all the directors, their vision & ceaseless efforts has laid the foundation of a strong & vibrant institution & the bank is progressing in multifold.
The Akola Janata bank truly understands the meaning of the term ‘Co-operative’ in their name and extends this spirit to all their customers, both at retail and corporate level, through our well informed, knowledgeable and professional employees, well designed products and impeccable services.
The speed, accuracy and efficiency, which are all essential in delivering a quality product, are a rare blend found while dealing with The Akola Janata Bank. More importantly, this all comes at a very reasonable price with total transparency in dealing at each stage.
What id IFSC Code
IFSC is short for Indian Financial System Code and represents the 11 digit character that you can usually see on your bank’s cheque leaves, or other bank sponsored material. This 11 character code helps identify the individual bank branches that participate in the various online money transfer options like NEFT and RTGS.
What is MICR Code
MICR or Magnetic Ink Character Recognition Code is a 9 digit code used for faster processing of cheques. MICR number is also unique for every bank branch, hence it helps in uniquely identifying the bank and branch participating in an Electronic Clearing System (ECS). MICR Code like IFSC is a combination of 3 essential components:
1. The first 3 digits represent the city code.
2. The middle 3 represent the particular bank code.
3. The last 3 digits represent the specific branch code