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A leading bank of South Western Maharashtra. Promptly serving you through a network of 44 fully computerized branches spread across Maharashtra and Karnataka state. Total Deposits of more than 208102.37 Lakhs, Loans 138058.48 Lakhs and Working Capital of 252571.24 Lakhs.
Industrial And Agriculture Finance
Our bank has co-opted by Small Industrial Development Bank of India for implementation of Technology up gradation Funds Scheme of 5% interest rate subsidy allocated/alloted by the Central Govt. for the development of textile industrial sector. We are also financing for the development of S.S.I, units under the National Equity Funds Scheme as per the SIDBI Scheme. Our bank is nodal member of NABARD and eligible for finance facility from the Development Bank. We are always acheiving the targets of GOI under agriculture finance.
Kaijs Bank History
Ichalkaranji, once a small Capital "Jahagir" town, ruled by His Highness, the Late Narayanrao Babasaheb Ghorpade, had a rare virtue of "seeing the beyond". He cherished a dream to see that the small princely town earns eminence and prosperity by encouraging "Trade & Industry". Because of his benevolence and untiring zeal towards this goal, that he could turn his dream into reality. In this endeavour, he was really fortunate to have unstinted cooperation from dedicated and disciplined team of men, small and big. Through his untiring efforts and constant encouragement of Late Babasaheb, Ichalkaranji, is today enjoying a pride of place as "Manchester of Maharashtra", a centre of wide spectrum of industry and trade alike.
In accelerating the pace of industrial growth and development of Ichalkaranji, the moving spirit and fountain of inspiration was Late Dattajirao Kadam with his team of colleagues sharing his mission of co-operative movement in the fifties founded a chain of co-operative institutions in Ichalkaranji. The unique achievement of Late Kadam Anna was that, he gave a wider base to the co-operative movement, by extending it to agro based industry. His one of the landmarks is the foundation of the Ichalkaranji Janata Sahakari Bank Ltd. In this endeavour, he was ably assisted, among others, by his young devoted and disciplined disciples Shri. Kallappanna Awade and Late Shankarrao Hupare. Both of them were aware of the short comings of his lone crusade in the contest of growing needs of the people. This society was registered on 5 Nov.,1962 and started its financial operations on 7th February, 1963. Having regard to the efficient operations, the Reserve Bank of India has no hesitation in granting to the bank, to operate as a bank and granted a banking license as Urban Co-operative Bank, in April 1982. Also the bank has got scheduled status w.e.f. 29.1.2000. This speaks for itself the achievement of the bank, and reflected the quality of management & the Board. It was natural that, operations of the bank in the beginning were on a limited scale with financial constraints of funds flowing from the public. However, soon, through sustained efforts for collecting deposits from the public by innovating and attractive Deposit Schemes the kitty of the bank started growing. The bank therefore could lend financial assistance, to wider range of small and needy entrepreneurs. This strengthened the trust of the people and more and more cooperative institutions became valued clients of the bank. At the time, the traditional handloom industry was making way for powerloom as a need of the time. The bank has the pride of privilege to claim that, it could make the small powerloom owners forced to undertake job works for want of working capital, could become self-reliant producers with their own looms. Since the bank is the lifeblood of economic activity of industry and trade, especially of weaker sections among them, it was and has been the cardinal policy of the Management to help industry, bearing in mind the national growth. Because of well thought out policy and through its implementation, the bank in all humiliation can proudly claim its share in promoting and establishing the small powerloom owners and the ancillary industry. As such we prove the Bank weaving the minds of Mankind .
The share of the growth and usefulness of the bank also goes to its members. They voluntarily sacrificed their dividends out of the profits for "Building Fund" for a continuous period of 5 long years. It is because of their deep sense of love and sacrifice for the bank; it became possible for the Management to have its own premises and a prestigious building of five floors, known as "JANATA BANK BHAVAN". The bank has now provided 600 Safe deposit lockers in its basement.
What is 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.
How to find IFSC Code?
Ways to find IFSC codes
- IFSC code can be found on cheque leaf and bank passbook of the respective bank.
- Banks and respective branch list of IFSC codes can be obtained from Reserve Bank of India’s website.
- The IFSC code of a particular bank can also be found on the banks’ official website.
Benefits of IFSC Code
Benefits of IFSC Code are :
- Helps to identify a Bank and its respective branch
- Eliminates errors in the process of fund transfer
- Transfers done with IFSC such as NEFT, RTGS and IMPS are accurate
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:
- The first 3 digits represent the city code.
- The middle 3 represent the particular bank code.
- The last 3 digits represent the specific branch code
Benefits of MICR Code
Benefits of MICR Codes are:
MICR code enables efficient, quick and error-free processing of cheques. This is possible with magnetic ink, reading machines and technology used in MICR.
Difference between IFSC and MICR code
ink character recognition code (MICR) is a technology that enables faster
processing of cheques by recognizing unique characters printed on the cheque.
MICR consists of a 9 digit code. The
first three digits of the MICR code represent the city, the next three give the
bank code and the last three digits denote the branch of the bank. Similar to
an IFSC code, every branch of a bank has a specific MICR code. While IFSC is
used for online fund transactions, MICR is used for cheques.
Let’s understand the difference between IFSC and MICR