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Bank’s
Overview
The Hasti Co-Op. Bank, of which Head Office is at
Dondaicha, standing like Solid Mountain get change as per the need of time
& keep in mind importance to remain practical, is open secret amidst. It s
President s stern principled role, professional & practical approach &
ready to of the success of the Bank.
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Late
Shri Hastimalji Jain incepted this bank in 1971 and right from the beginning
and that also even from registration of the bank, established assembly in
town at that time, had formed innumerable difficulties. But, since the
mission was genuine, it had been judged & examined by then Co-Operative
Registrar of Pune, who immediately granted a special permission and thus,
banking services started. |
And, it s
fact that if Chief of any of institution will be positive, enterprising &
strict as far Rule & Regulations are concerned, he could run his
institution consistently progressive even in difficult time and best example
for this is, The Hasti Co.-Op. Bank Ltd., Dondaicha. Its most importantly noted
here that Reserve Bank of India (RBI) has kept only certain banks under Grade
One out of 658 Banks in Maharashtra and The Hast Co-Op. Bank Ltd., Dondaicha is
incorporated among the Grade One Bank that is prestigious fact. It s also first
ever Bank in Urban Co-Op. Banks of Maharashtra. Which has been accredited with
an ISO 9001:2000 Certification for its Administration & Social Work? The
Bank has been glorified as a 3rd bank by Banks Federation for having Deposits
over 100 Crores under the group. And, as Bank s BOD has started unique scheme
of reimbursement of expenses of Stamp Duty, which is compulsorily required
while disbursing any of Major Loans, such policy of banks BODs has recorded
good response from its borrowing members.
And, due to enormous changes in
modern times in Economical, Computerization and Social Structures bank has
undertaken innovative projects. It s first ever bank, which has introduced
Mrutyunjay Scheme, under which, if participated member passes away noted
nominee will be reimbursed Rs. 10,000/- and under this coveted scheme, till the
date, 570 Members are benefited & accordingly Rs. 46,86,000/- are paid to
its beneficiaries.
Also, JPA Insurance Scheme is
another novel scheme that bank has introduced & till the date Rs.
53,00,000/- are sanctioned & to reciprocate social responsibility, bank
with cooperation of its members started different projects viz. Hasti
Charitable Trust, Hasti Multipurpose Cultural Center & Hasti Public School
& Project of Water Submersible Pumps and regarding Drinking Water, bank has
built up town well at Dondaicha and also at Shahada with the Co-operation of
Municipality has built a water tank and at certain villages bank has also fixed
pump over Wells & Bore wells.
While doing all of these
activities, bank has not neglected environmental equilibrium and at great
extent trees are planted around the bank, School & Cultural center.
Recently, blood donation camps were being organized by Hasti Charitable Trust
and around 750 odd donors have donated blood, which in itself is a record. Jain
family insists upon good banking services & finance among needy people in
the society that to be repaid at appropriate & on easy installments
methods. Kantilalji Jain has a sidelong glance that Bank & Personal
dealings should not be jumbled or messed up and because of that only bank is
famous in public & in co-operative sector.
Shri. Shantilalji &
Kantilalji Jain own Cold strorages at Jalgaon, Nandurbar, and Shahada &
Dondaicha. Gram Flour & Processing of Peas & Beans Factory at Dondaicha
& have Real Estate Business at Pune. Their sons, Shri. Madanlal, Ashok,
Kisho, Kailas & Pradeep have attained stability in their respective
business & their all of sons, daughters and son-in -laws & grandsons
have acquired higher educations & thus have accomplished elegant reunion of
Laxmi & Saraswati and Because of wife Sau. Chandrawati s Competent
accompany it has been possible to live successful family & social life.
& because of his I suppose myself to be contended, happy & satisfied
person in the world, such sentiments expressed by Kantilalji.
Further he opined that RBI s
Policy to cut down banks having limited liabilities & deposits is
dangerous, as these banks are backbone to the common peoples of rural &
semi urban area and hence, this bank should be retained expects Kantilalji.
And, further expressed his
interim intention that in coming time Banks banking services will be fully
computerized and will have branch connectivity and once it will be completed it
would be possible to have anywhere banking, mobile banking, Tele Banking,
Internet Banking and also possible to make available facility of ATM Services.
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
Magnetic
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
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