Saraswat Bank

Saraswat Bank

Type	Public company
Industry	Banking Financial services
Founded	14 September 1918
Headquarters	The Saraswat Cooperative Bank Ltd, Corporate Centre, Saraswat Bank Bhawan, Plot no 953, Appasaheb Marathe Marg, Prabhadevi, Mumbai, India
Products	Investment Banking Commercial Banking Retail Banking Private Banking Asset Management Mortgages Debit Cards Consumer Banking Current Account Demat Account Term Deposits Corporate Banking Finance And Insurance Working Capital Term Loan Corporate Loan Bank Guarantee Bill Discounting Import And Export Finance - Trade Finance Internet Banking SMS Banking Mobile Banking
Revenue	₹394,095.60 million (US$5.9 billion)(2013-14)[1]
Net income	₹1,470.90 million (US$22 million)(2013-14)[1]
Number of employees	4351[1]
Website	Official Website

Saraswat Bank pronunciation  is an urban co-operative banking institution based in Maharashtra, India and operating as a co-operative bank since 1918.^[2]

In 1988, the Bank was conferred with "Scheduled" status by Reserve Bank of India. The Bank is the first co-operative bank to provide Merchant Banking services. The Bank got a permanent license to deal in foreign exchange in 1978. Presently the Bank is having correspondent relationship in 45 countries covering 9 currencies with over 125 banks. In 1992, the Bank completed 75 years. Platinum Jubilee Celebrations were inaugurated on 14 September 1992 and the Bank also crossed the business level of Rs. 700 Crores. It has 267 branches nationwide.

The beginning of the 21st century has been a giant leap forward for the Bank. The Bank chose a path of organic/inorganic growth and its pace of growth accelerated .The Bank's total business which was around Rs.4000 Crore in 2000 almost tripled to Rs.15295 Crore in 2007.

In the year 2008, the Bank launched a Branding Initiative . The purpose of such an exercise was to reconfirm the thrust of the Bank on its core values, which can be summed up as a "Sense of Belonging".

In the last two decades the Bank has witnessed a steady growth in business and also taken several Strategic Business Initiatives such as undertaking Business Process Reengineering initiative, merging seven Cooperative Banks and then consciously nurturing them. The Bank tied up with VISA International for issuance of Debit Cards. The Bank has also successfully launched RuPay EMV Debit Card during the year 2013-14. The Bank was the first to achieve this mile stone in respect of RuPay EMV Card along with Bank of Baroda.

In 2011, the Bank was granted permission for All India Area of Operation by Reserve Bank of India. The Bank has an ambitious business expansion plan in place to have a presence in all major cities of the country, and to reach a business levels of Rs. 50,000 Crores by 2016 and Rs. 1,00,000 Crores by 2018 respectively.

The Bank has a network of 267 fully computerized branches as on 31 March 2014 covering six states viz. Maharashtra, Gujarat, Madhya Pradesh, Karnataka, Goa and Delhi. The Bank provides 24-hour service through ATMs at 205 locations.

As on 31 March 2014 the Bank's business had surpassed Rs. 39,000 Crores. The Bank has retained its coveted position as ZERO NET NPA Bank for the tenth successive year. ^[3]

References

Banking in India
Reserve bank	Reserve Bank of India
Public sector banks	Allahabad Bank Andhra Bank Bank of Baroda Bank of India Bank of Maharashtra Bharatiya Mahila Bank Canara Bank Central Bank of India Corporation Bank Dena Bank IDBI Bank Indian Bank Indian Overseas Bank Oriental Bank of Commerce Post Bank of India Punjab & Sind Bank Punjab National Bank State Bank of Bikaner & Jaipur State Bank of Hyderabad State Bank of India State Bank of Mysore State Bank of Patiala State Bank of Travancore Syndicate Bank UCO Bank Union Bank of India United Bank of India Vijaya Bank
Private sector banks	Axis Bank Bandhan Bank Catholic Syrian Bank City Union Bank DCB Bank Dhanlaxmi Bank Federal Bank HDFC Bank ICICI Bank IDFC Bank IndusInd Bank Jammu & Kashmir Bank Karnataka Bank Karur Vysya Bank Kotak Mahindra Bank Lakshmi Vilas Bank Nainital Bank RBL Bank (Ratnakar Bank) South Indian Bank Tamilnad Mercantile Bank Limited Yes Bank
Cooperative banks	Buldhana Urban Cosmos Bank Repco Bank Saraswat Bank Shamrao Vithal Co-op. Bank TNSC Bank Rajkot Nagrik Sahakari Bank
Foreign banks	ABN AMRO Abu Dhabi Commercial Bank Antwerp Diamond Bank Australia and New Zealand Banking Group Bank Internasional Indonesia Bank of America Bank of Bahrain and Kuwait Bank of Ceylon The Bank of Tokyo-Mitsubishi UFJ Barclays Citibank India Credit Suisse Deutsche Bank HSBC The Royal Bank of Scotland Scotiabank Standard Chartered
Regional Rural Banks	Andhra Pragathi Grameena Bank Kerala Gramin Bank Bangiya Gramin Vikash Bank Gramin Bank of Aryavart North Malabar Gramin Bank Pallavan Grama Bank Pandyan Grama Bank Paschim Banga Gramin Bank Sarva UP Gramin Bank South Malabar Gramin Bank Uttar Bihar Gramin Bank Vananchal Gramin Bank List of regional rural banks in Uttar Pradesh
Interbank networks	BANCS Cashnet Cirrus IMPS UPI MITR NFS PLUS RuPay
Defunct banks	Alliance Bank of Simla Arbuthnot & Co Bank of Bombay Bank of Calcutta Bank of Chettinad Bank of Cochin Bank of Hindostan Bank of Madras Bank of Madura Bank of Rajasthan Bank of Thanjavur Bareilley Corporation Bank Bengal Central Bank Bharat Overseas Bank Centurion Bank of Punjab Chartered Bank of India, Australia and China Commercial Bank of India Dass Bank Exchange Bank of India & Africa Global Trust Bank Grindlays Bank Hindustan Commercial Bank Imperial Bank of India ING Vysya Bank Lakshmi Commercial Bank Lord Krishna Bank Madhavpura Mercantile Cooperative Bank Mercantile Bank of India, London and China Miraj State Bank Nath Bank Nedungadi Bank New Bank of India Oriental Bank Corporation Oudh Commercial Bank Palai Central Bank Pandyan Bank Sikkim Bank State Bank of Indore State Bank of Saurashtra Times Bank United Industrial Bank United Western Bank
Related topics	Banks Board Bureau Banking Codes and Standards Board of India ATM usage fees in India De-Materialisation (DEMAT) Foreign Exchange (FOREX) Indian Financial System Code (IFSC) List of banks in India National Electronic Fund Transfer (NEFT) National Payments Corporation of India Real Time Gross Settlement (RTGS) Structured Financial Messaging System (SFMS) Prepaid Payment Instruments in India