Vision and Mission
“To emerge as a strong, vibrant, most preferred premier co operative bank, committed to excellence in serving the customers, and augmenting the stakeholders value through concern, care and competence”.
- Punjab & Maharashtra Co-operative Bank is a Multi-State Scheduled Urban Co-operative Bank with its area of operation in the States of Maharashtra, Delhi, Karnataka ,Goa, Gujarat and Andhra Pradesh.
- The humble beginning of the Bank was done in a small room at Sion, on February 13, 1984 as a single branch Bank. In a span of 30 years, the Bank has a wide network of 106 branches across five states.
- The Bank stands among top 10 co-operative banks of the country.
- The Bank was conferred with Scheduled Status by the Reserve Bank of India in the year 2000.It is the Youngest Bank to achieve the ‘Scheduled Bank’ status.
- The Multi-State Status was conferred on the Bank by the Central Registrar in the year 2004.The Bank thus entered into the National platform
- The Bank was given the Authorised Dealer Category I License by the Reserve Bank of India for Forex business in the year 2011.
Awards and Achievements
- The Bank has various laurels to its credit.
- All India Bank Depositors’ Association, well known body of the bank depositors, felicitated the Bank in appreciation of “work ethics oriented to depositors’ service” in 1999.
- The Bank has been awarded with ‘Padmabhushan Vasantdada Patil Award’ as the ‘Best Urban Co-operative Bank’ by the Maharashtra State Co-op Banks’ Association Ltd. for nine times.
- The Bank received a ‘Special Jury Award’ from NPCI for the lowest dispute ratio in Co-operative Banking sector and also for the lowest unscheduled down time in 2012.
- Since 2004,the Bank has instituted an award in the memory of the late M.R. Pai, noted public worker and consumer activist. However, the Bank has requested the All India Bank Depositors’ Association to choose the Award winner each year.
- The Bank has a number of firsts to its credit and takes pride in having a number of unique features:
- 12 hours uninterrupted service from 8 am to 8 pm in most of its branches.
- 360 days banking ( Sunday and Holiday Banking).
- Token-less banking( tellers for any amount of cash withdrawal)
- Set up of self-service counters for customers
- Tele-banking service .
- Introduction of special products like “Double Decker” and “Bal Bhavishya Yojana”.
- The Bank was the pioneer to mention names of payee/ Drawer in the passbook / statement of accounts to facilitate easy identification of every entry / transaction. The Reserve Bank of India, in the year 2008/09, advised other banks to adopt this practice in the interest of better customer service.
- The Bank launched Website, Face Book page & Twitter handle in the year 2011/12 to be noted on International platform.
- With 70% Women employees, the Bank believes in women empowerment. The Bank charges 1% less ROI for education loan to girls/women. It has special saving account scheme for women. Women are given benefit of additional rate offered to senior citizens at the age of 58 years