Harman23: creating new page - done

2026-01-31T05:09:18Z

creating new page - done

New page

{{Short description|Bank in India}}
{{Use Indian English|date=February 2017}}
{{Use dmy dates|date=May 2020}}
{{Infobox company
| name = Abhyudaya Bank
| logo = AbhyudayaBanklogo.jpg
| type = [[Cooperative bank|Co-Operative]]
| foundation = June 1967
| location = [[Mumbai]], India
| key_people = [[SITARAM CHIMAJI GHANDAT ]] ([[managing director]])
| industry = Banking [[Financial service]]s
| products = [[Foreign exchange market|Forex & trade]] [[Mortgages]] [[Demat account|Demat Services]] [[internet banking]]
| revenue = {{profit}}{{INRConvert|131452.844|m}}(2012–13)<ref name="AbhyudayaBank1">{{cite web|url=https://www.abhyudayabank.co.in/english/Financial_Results.aspx |title=FINANCIAL RESULTS |publisher=Abhyudaya Bank|accessdate=2013-09-11}}</ref>
| operating_income =
| net_income = {{profit}}{{INRConvert|912.177|m}}(2012–13)<ref name="AbhyudayaBank1" />
| assets =
| equity =
| num_employees =
| homepage = {{URL|http://www.abhyudayabank.co.in/}}
}}
'''Abhyudaya Co-operative Bank Ltd''' is an urban multi-state [[Cooperative banking]] institution based in [[Maharashtra]], India and operating as a co-operative bank since 1965.<ref name="AbhyudayaBank8">{{cite web|url=http://www.thehindubusinessline.com/industry-and-economy/banking/article3577412.ece |title=Abhyudaya banks on technology |publisher=thehindubusinessline |accessdate=2012-10-11 |url-status=dead |archiveurl=https://web.archive.org/web/20121012235035/http://www.thehindubusinessline.com/industry-and-economy/banking/article3577412.ece |archivedate=12 October 2012 }}</ref>

== History ==

In the year 1964 several social workers and activists came together and formed Abhyudaya Co-operative [[Credit union|Credit Society]] Ltd with a relatively small share capital of {{INRConvert|5000|}}. 
Within a short period of time Abhyudaya Co-op, Credit Society got converted into an Urban Co-operative bank.<ref name="AbhyudayaBank2">{{cite web|url=http://www.abhyudayabank.co.in/english/Profile.aspx |title=Success Story of Abhyudaya Bank |publisher=Abhyudaya Bank |accessdate=2012-10-11 |url-status=dead |archiveurl=https://web.archive.org/web/20121016161759/http://www.abhyudayabank.co.in/english/Profile.aspx |archivedate=16 October 2012 }}</ref> 
In June 1965 Abhyudaya Co-operative Bank Ltd was finally established as a full-fledged co-operative Bank.<ref name="AbhyudayaBank2" /> 
It was conferred with [[Scheduled bank]] status by the [[Reserve Bank of India]] in the year 1988.<ref name="AbhyudayaBank2" /> 
On 11 January 2007 the Bank was registered as a multi-state co-operative bank by the Central Registrar, [[New Delhi]].<ref name="AbhyudayaBank8" />

== Branches ==

It has branches in Metropolitan [[Mumbai]], Navi Mumbai, Pune, Thane, Raigad, Nagpur, Nashik, Nanded, Kankavali and Aurangabad in [[Maharashtra]] State, Vadodara and Ahmedabad in [[Gujarat]] State, Udupi and Mangalore in [[Karnataka]] State.

The area of operation of the bank is confined to 3 States
* Maharashtra
* Gujarat
* Karnataka.

The Bank further proposes to extend its area of operation to other States.<ref name="AbhyudayaBank2"/>

==Acquisitions==
* [[Pune]] based Citizens Co-op Bank<ref name="AbhyudayaBank6">{{cite web|url=http://articles.economictimes.indiatimes.com/2006-05-10/news/27428213_1_abhyudaya-bank-citizens-bank-urban-co-operative-bank |archive-url=https://web.archive.org/web/20160305022215/http://articles.economictimes.indiatimes.com/2006-05-10/news/27428213_1_abhyudaya-bank-citizens-bank-urban-co-operative-bank |url-status=dead |archive-date=5 March 2016 |title=Abhyudaya Bank takes over Citizens Co-op |publisher=economictimess |accessdate=2012-10-11}}</ref>
* [[Vadodara]] based Shree Krishna Co-operative Bank<ref name="AbhyudayaBank5">{{cite web|url=http://www.indianexpress.com/news/another-gujarat-bank-now-has-maharashtra-ownership/375191/ |title=Another Gujarat bank now has Maharashtra ownership |work=The Indian Express|accessdate=2012-10-11}}</ref>
* [[Ahmedabad]] based Manekchowk Co-operative Bank<ref name="AbhyudayaBank4">{{cite web|url=http://www.business-standard.com/india/news/abhyudaya-co-op-to-acquire-a'bad-bank/314474/ |title=Abhyudaya Co-op to acquire A`bad bank |work=Business Standard|accessdate=2012-10-11}}</ref>
* [[Udupi]] based Janatha Co-op. Bank Ltd.<ref name="AbhyudayaBank7">{{cite web|url=http://www.financialexpress.com/news/abhyudaya-coop-to-acquire-three-banks/297376/ |title=Abhyudaya Co-op to acquire three banks |publisher=financialexpress |accessdate=2012-10-11}}</ref>

== Controversy ==
[[Reserve Bank of India|RBI]] imposes Rs 58 lakh penalty on Abhyudaya Co-operative Bank for not following norms.<ref>{{Cite web |date=2022-05-09 |title=RBI imposes Rs 58 lakh penalty on Abhyudaya Co-operative Bank for not following norms |url=https://www.zeebiz.com/india/news-rbi-imposes-rs-58-lakh-penalty-on-abhyudaya-co-operative-bank-for-not-following-norms-184364 |access-date=2023-07-18 |website=Zee Business}}</ref><ref>{{Cite web |date=2022-05-09 |title=RBI imposes Rs 58 lakh penalty on Abhyudaya Co-operative Bank for non-compliance |url=https://www.businesstoday.in/latest/story/rbi-imposes-rs-58-lakh-penalty-on-abhyudaya-co-operative-bank-for-non-compliance-332881-2022-05-09 |access-date=2023-07-18 |website=Business Today |language=en}}</ref> Maharashtra based Multi-State Scheduled Bank- Abhyudaya also failed to perform well on several financial parameters in the 2020-21 FY. The profit of the bank has decreased by over 12 crore and the Gross and Net NPA levels have increased.<ref>{{Cite web |date=2021-10-04 |title=All not rosy for Abhyudaya Co-op Bank; Profit dips, NPA rises |url=https://www.indiancooperative.com/banks/all-not-rosy-for-abhyudaya-co-op-bank-profit-dips-npa-rises/ |access-date=2023-07-18 |website=Indian Cooperative |language=en-US}}</ref>

==See also==
*[[Co-operative banking]]
{{Portal|Banks}}

==References==
{{reflist}}

==External links==
* [http://www.abhyudayabank.co.in/ Official website]

[[Category:Indian companies established in 1965]]
[[Category:Cooperatives in Maharashtra]]
[[Category:Cooperative banks of India]]
[[Category:Banks established in 1965]]
[[Category:Banks based in Mumbai]]
[[Category:1965 establishments in Maharashtra]]

Abhyudaya Co-operative Bank - Revision history

Harman23: creating new page - done