Janata Bank’s Amrit Mahotsav Year Closing Ceremony on Saturday

Union Home and Cooperation Minister Amit Shah to Attend

Pune: Janata Sahakari Bank Ltd., Pune was established on October 18, 1949, during the auspicious time of Vijayadashami, inspired by the Rashtriya Swayamsevak Sangh and the vision of the late Moropant Pingale. This year marks the bank’s 75th anniversary, the Amrit Mahotsav Year, and the closing ceremony of the Amrit Mahotsav Year will be held on Saturday, February 22, 2025, at 2:00 PM at the Late Vitthal Tupe Patil Natya Griha, Malwadi, Hadapsar. The chief guest at the event will be Union Home and Cooperation Minister Amit Shah, as informed by the bank’s president, Ravindra Hejib, during a press conference.

The press conference was attended by the bank’s Vice President Alka Petkar, Directors Makrand Abhyankar, Mandar Phatak, CEO Jagdish Kashyap, and Deputy General Manager Nilesh Deshpande.

The closing ceremony will be presided over by Maharashtra Chief Minister Devendra Fadnavis, Deputy Chief Minister Eknath Shinde, Deputy Chief Minister Ajit Pawar, Union Minister of State for Cooperation and Civil Aviation Murli Mohol, State Minister for Higher and Technical Education and Parliamentary Affairs Chandrakant Patil, and Cooperation Minister Babasaheb Patil, among others.

The Amrit Mahotsav inauguration event was held on October 18, 2023, in the presence of Maharashtra Chief Minister Devendra Fadnavis, Minister for Higher Education and Technology Chandrakant Patil, and the revered Bhushan Swamiji of Sajjangad.

Currently, the bank operates a total of 71 branches and 2 extension counters across 13 districts in Maharashtra and one district in Gujarat. The bank’s total deposits amount to ₹9,626 crores, with loans at ₹5,664 crores, and the total combined business stands at ₹15,290 crores. The bank’s CRAR (Capital to Risk-weighted Assets Ratio) is 14.27%, with priority sector lending and weaker section lending at 66.88% and 7.04%, respectively.

The bank’s board consists of 17 directors, including experts from various fields such as chartered accountants, retired bankers, legal experts, agriculture, and cooperation. Over 94% of the directors on the board are professional directors. In 1978, the bank made history by merging with the Ratnagiri Urban Cooperative Bank, gaining the trust of depositors in cooperative banking in Ratnagiri district. Since then, the bank has successfully merged with several other banks.

In 1988, the bank achieved the scheduled bank status after crossing ₹100 crore in business. Janata Bank was the first to offer depository services in the country in 1998. The bank currently provides depository services through both CDSL and NSDL. In 2003, the bank set up its own data center, which has received ISO 2001 and 25001 certifications.

In 2012, the bank merged with the Khed Brahma Urban Cooperative Bank in Gujarat’s Sabarkantha district, gaining multi-state bank status. Along with traditional banking services, the bank now offers various tech-based services, including internet banking, mobile banking, Bhoomi Jet Pay, demat, mutual funds, treasury, digital banking, foreign exchange, insurance services, Atal Pension Yojana, and Pradhan Mantri Suraksha and Jeevan Jyoti Yojana.

Currently, 50% of the bank’s total transactions are digital. For the financial year 2023-24, the bank’s CEO was awarded the “Excellent Leadership” award by the Ministry of Finance for opening the highest number of accounts under the Atal Pension Yojana in India (in the Urban Co-operative Bank category). Additionally, the bank received the “Beat the Best and Be the Best” award and the CIBIL (Credit Information Company) award for the best data quality.

The bank’s future path includes improving technology using AI, contributing to Prime Minister Narendra Modi’s vision of “Har Ghar Vikas” through financial inclusion, providing banking services in underbanked areas, ensuring easy banking services, maintaining social responsibility, and ensuring transparency and excellent business growth.