LOCATE ANY BANK BRANCH IN INDIA
A leading Co-operative Bank of
Surat is going
to completed four decades of its services to the people of Surat City/District.
And it is said that “Real life starts after forty”. On 29th July, 1972 a seed
of good and efficient Co-operative Bank was shown, which has grown in to a huge
banyan tree. Our Bank carries with it an enviable heritage of 40 years.
Established on the principles of “Socialism” (Samajwad), this Bank has served
to the Society at large. The selfless devotion of the pioneers of this Bank
with their lifeblood efforts inspired their successors- directors to dedicate
themselves to continue selfless services to the society. Keeping in mind the
values of self responsibilities, democracy and equality, all the past as well
as present directors servicing with their boundless enthusiasm and courage,
with their untiring zeal and patience, with their practical wisdom and sagacity
in their untiring efforts in the cause of banking and to the services of the people
of Surat and for their economic growth. This Bank was having the able-efficient
pioneers leaders and Past Chairmen like Late Shri Jayantilal B. Chokhawala (The
founder Chairman of this Bank and a leading personality of Surat City) and also
like late Shri Vasantlal M. Dalal (The founder Vice Chairman of this Bank and
thereafter became the Chairman, a leading-efficient, prominent
lawyer-practicing on the Civil as well as Labour side, a think tank of
“Samajwad”, always thinking of poor people and labourers who rendered his
services for about 27 years to the Bank) and many others, led this Bank from
venture to venture and changed fortunes of many people with their smiling faces
from success to success.
This Bank is not only helping small investors and weaker section of society but also playing a vital part in the growth of the industry and commerce. This Bank was established with the motto to serve the people of Surat, on the basis of seven cardinal principles of “Co-operation”. It is established with 417 shareholders members with paid up share capital of Rs.98,000=00 and on the completion of the first year it was having deposits of Rs.9,63,900=00 by 574 depositors and lending of Rs.5,94,700=00 to 113 members. Right from the 2nd year this Bank is giving the maximum ‘Dividends’ as provided under The Co-op. Act to its shareholder members regularly. Today at the end of 39th year, as on 31.03.2011 this Bank is having a total deposits of Rs.244.73 Crores and advances of Rs.149.49 Crores, with total working business of Rs.394.22 Crores. This Bank is having Net ‘Zero’ N.P.A. since last many years. It has also achieved a prizes from The Gujarat Urban Co-operative Banks Federation as the zero N.P.A. Bank. This Bank has achieved many targets and got many prizes and awards from Surat Jilla Sahkari Sangh and South Gujarat Co-op. Banks Association (SCOBA).
Today this Bank is rendering services to the people of Surat regarding all kinds of banking services. This Bank is having total 8 Branches having an efficient and most Co-operative Smiling Staff of 132 personnel.
This Bank is never involved in any scam. This Bank is not doing any Stock Market Business.
In this era of rising interest rate, we invite people and our valued customers as one of the attractive avenue for investment of their precious capital. Please find comfortable to deposit your valued funds in our Bank.
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