The Anand Mercantile Co-Operative Bank Ltd. was established in 1971 at Anand city. The bank was registered on 11-3-1971 having Reg. No. NDHN/198SE4335/1971

“THE ANAND MERCANTILE CO-OP. BANK LTD.”
PAST, PRESENT AND FUTURE

Since very beginning of the creation of human on the earth , co-operation attitude has been joining with the human culture. Very first created couple Adam an Eva is the eternal message of co-operation over the earth. The Veda also clearly mentioned passion of co-operation.

Almighty lord, we live together, dinner together, we increase more and more by co-operation, do hard work and become brighten and cleverer, never feel jealousy towards anybody, peace shall everywhere, peace shall everywhere, peace shall everywhere.

Anand district is the central part of Gujarat state is holding first rank in the co-operation activities in Gujarat. Further, Anand city has become an Ideal centre of co-operation in International level. So, the city is the laboratory of co-operation activities. Various co-operative national level institutions like Amul Dairy, N.D.D.B., IRMA are here, as well as an Ideal industrial Estate called VITHAL UDHYOGNAGAR and study centre called Agriculture University and VALLABH VIDHYANAGAR are there. A rich commercial centre called “SARDAR GUNJ” is also located in the centre of the city. Including all the things also some Tiny-Big business-professions are well developed here. So Anand has become the attractive point in the entire map of Gujarat and India as it has gained in Education, Co-operation industries, Agriculture etc.

Various profession-industries allots their contribution in the development of highly increasing city, co-operative institutions and it’s co-operative activities also contributed. Co-operatives banks are on top in the co-operative institutions of Anand city. In the non agriculture loan field after encouragement in urban area and semi urban area and providing loan facilitates to the upper medium class, the co-operative banks by this way provides effectual and competent banking service, and maintain the trust in the common people.

When we see prior situation of the Co-operative banks in Anand city, we found that, Only single co-operative bank (Anand urban Co. Op. Bank) was in Anand city before the year of 1971, which was established in the year of 1965. During this time even in presence of nationalized bank, benefit could not reach to the common people due to it's delayed loan policy, legal building etc., Trust of people was decreasing day per day from the personal shroff. Benefits of loan could not been reached to the people due to having high interest rates of the Private Shroff.

At the other side the fastly increasing city was needed to establish more and more fix deposits and Banking sector service. In such circumstances having good intention like to decrease work load of one and only co-operative bank as well as extend banking services for business employment in this area and to become helpful to the common people the establisher was decided to establish this bank. As a result on the special day of Dt. 11/05/71 the bank was inaugurated by and with the grace of Swami Shree Pu. Jagdishwaranandji Maharaj of Ahmedabad Geeta Mandir at “Saflya” building located at Juna Rasta. The bank has been activated by 331 members having 67,300/- share capital and fixed deposits of Rs. 1,58,800/-.

It is a Universal truth that, in the beginning any of the bank faces so many inconvenience, obstructions,- problems. By the same way the said bank also had faced so many factors like insufficient machinery - facilities and obstructions – problems and unfamiliarity of the, customers limitations in the administration capabilties etc. Though in the support of the Designatory, Directors, Committee members of the branch, Employee Staff, Members, Fixed Depositors, well Wishers etc. in the fortyth years of success, the bank got the first rank in the city as well as in the entire district also.

We can use two flowers from English and Sanskrit Literature as like “Service Above Self” and “Yog Karmeshu Kaushalam” to describe specialty of “The Anand Mercantile Co-operative Bank Ltd.” Customer’s service is the lifeline of the banking profession. The employees of the bank never think about their own convenience-inconvenience at the time of providing service to the customers. But they ever provides service respectively, fast and with full of dicipline to the customers. Further more, employees of the bank works in interest of the consumer. There is a shlok mentioned in the Veda that, Efficiency in the work “Karmeshu Kaushalam”. By both the flowers employees of the bank provides their service to the customers.

During the forty fifth years of time period of the bank we can easily seems public interest work as well as banking service based on progress figure – report – graph given elsewhere. We would like to produce some special achievements-success of the bank.

  • (1) The bank is holding 20325 members, share capital of Rs.283.19 lacs and deposits of 14853.96 lacs in the current year.
  • (2) The bank is having fully facilities luxurious building ( both for H.O. & Branch )
  • (3) Employees of the bank are giving their service as a family members. As the bank employees bearing internal feelings towards the bank they have been giving fast and satisfactorious banking service to the consumers without hesitation of convenience-inconvenience or time also. (4) That the said bank has obtain license from Reserve Bank of India to conduct banking business. Which is the most powerful achievement of the bank. (5) That the bank has provide contribution by establishing of Fifty Two houses by collecting donation of Rs.88000/- for the effected people facing flood in the Barar Village Maliya Taluka of Morbi Area. (6) That the bank has become helpful in interest of humanity by providing tricycles to disablled person. (7) Welfare activities in interest of mankind was conducted by inviting famous heart specialist doctor Mr. Chokhani and provided services on concession rate for heart patients operation. (8) Largest amount has been providing to various Organizations as economical help in education, health, social service activities. (9) That the bank working method has been established by the bank to provide fast easy loan to the businessmen concern to all class and layer of the society. (10) The bank has also provide staff Welfare Fund, Help for health treatment, Provident Fund, Gratuity, Law interest rate loan, house rent, bonus, high-class salary, leave salary, Medical Allowance, Seek leave, etc. services to all staff. (11) Other factor as like attractive interest rate for the depositors encouragement scheme, gift scheme for member, well behavior between employees and consumer, proper guidance etc. has become co-operative in the development of the Bank. (12) Constantly allowed “A” class by auditors. Our bank daily turnover reaches to 5.50 crores and the annual profit goes to 185.34 lac. It is the mirror image of the success.

    Due to having above said specialties, the said bank on the occasion of it’s forty five year, has become a first rank ideal bank in the entire district of Anand. Unity is strength in Consideration of the said slogen our bank reaches to first Silver Jubilee with constent success till today. As per it’s same speed – progress – extension and prosperity.

    Future development and fulfillment of expectation of the citizens will be effected by below mentioned factors

  • (1) Activeness of the bank.
  • (2) Ability of the employees.
  • (3) Not only depends on extension of deposits or loan but depends on to develop habits of savings and to make people self dependent.
  • (4) Verification of the necessity use of the loan.
  • (5) Due to use of the loan, whether the life style of the debtors got changed or not?
  • (6) After us of the loan, Whether the production of the home industries or tiny industries resulted into increment or not?
  • (7) Whether the loan given to self employed and business person resulted with extension of income indeed or not?
  • If the answer is in affirmation, our bank will be found progressive in socioeconomical development of the society.

    CONCLIUSION:-

    That the co-operative activities having 90 years said bank is having 46 years wide experiences. Same as our economy the co-operation activities is trying to achieve development in various fields with the new attitudes or services to prepare road of development with the challenges. At the same time banking co-operative institutions will have to come forward as affectual institution with more working abilities, more responsibilities and with more confidence. By which it becomes true co-operation activities with the trust and satisfaction of the consumer as well as of the member.

    Speciality x& Achievements:-

    1.   Bank Audit Class "A"

    2.
    Last 3 Year Profit
    Paid Dividend
    31-03-2016
    Rs. 1,47,61,542.27  
    7%  
    31-03-2017
    Rs. 1,76,26,379.54   
    7%  
    31-03-2018
    Rs. 1,85,33,937.45  
    7%  

    3.  »Capital Adequacy Ratio (CRAR) 25.62% (As per norm of RBI 9% required )

         »Gross NPA 2.40%

         »Net NPA 0%

          »Priority Sector Loan 49.73%

          » Directors loan (Only on their own Fix Deposit)

    4.   Head Office & Branch

         • Own Establish Property

         • Centrally Computerised System

         • Safe Deposit Vaults and Lockers

         • Core Banking Services

         • RTGS/NEFT (Inward-Outward)

         • ATM & POS Facility Available

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