Abhyudaya Co-operative Bank Ltd

In the year 1964 several social workers and activists came together and formed Abhyudaya Co-operative Credit Society Ltd with a relatively small share capital of ₹5,000 (US$52).

Within a short period of time Abhyudaya Co-op, Credit Society got converted into an Urban Co-operative bank.

In June 1965 Abhyudaya Co-operative Bank Ltd was finally established as a full-fledged co-operative Bank.

It was conferred with Scheduled bank status by the Reserve Bank of India in the year 1988.

On 11 January 2007 the Bank was registered as a multi-state co-operative bank by the Central Registrar, New Delhi.

Pune based Citizens Co-op Bank

Vadodara based Shree Krishna Co-operative Bank

Ahmedabad based Manekchowk Co-operative Bank

Udupi based Janatha Co-op. Bank Ltd.

Controversy

RBI imposes Rs 58 lakh penalty on Abhyudaya Co-operative Bank for not following norms. 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.