Model Co-operative Bank Ltd. receives Best Bank Award for the year 2016 from ‘The Maharashtra Urban Co-op. Banks’ Federation Ltd., Mumbai.

Mum, March.06: The Maharashtra Urban Co-op. Banks’ Federation Ltd., Mumbai (MUCBF) has hosted its Best Bank Award Ceremony 2016 for Urban Co-operative Banks in the State of Maharashtra on March 6th, 2017 at Bharatiya Krida Mandir, Wadala Mumabi 400 031.

Model Co-op. Bank Ltd. has been awarded with Best Bank award in the entire State of Maharashtra in the Rs.600 crs – Rs.1000 crs Deposits category.

Model Co-op. Bank Ltd. has also been awarded with Merit Certificate for completing 100 years in the field of Co-operative Banking.

The Award Ceremony was presided over by Shri Subhashrao Deshmukh, Hon. Minister of Co-operation, Marketing & Textiles, Government of Maharashtra; Shri Vidyadhar Anaskar, Hon. Chairman of MUCBF; Shri Anandrao Adsul, Hon. Director of MUCBF & Member of Parliament alongwith other Directors of the Federation. The function was attended by Senior Management and Directors from many Co-operative Banks. This award is another milestone for Model Co-operative Bank.

The award was received by Mr.Albert W.D’Souza-Chairman; Mr.William J.Sequeira-Vice Chairman; Mr.William L.D’Souza-General Manager & CEO and Mr.Harold M.Serrao-Addl. General Manager at the hands of Shri Subhashrao Deshmukh, Hon. Minister of Co-operation, Marketing & Textiles, Government of Maharashtra.

The Bank has its roots in the Mangalorean Catholic Co-operative Credit Society Ltd., which was registered on 26th April, 1916. It has completed 100 years of its existence on 26.04.2016. The Bank has total deposits of Rs.875 crs and total Advances of Rs. 465 crs with total business of Rs. 1340 crs. The Bank has a total of 21 branches which are fully CBS enabled and provides various services like ATM, POS, e-Commerce, on-line statements, SMS Alerts, Personalised Cheque Books, Pan Card, Reliance Electricity Bill Collection, Bancassurance, RTGS/ NEFT, E-Tax Payment Facility, Cheque Truncation System, Direct Clearing, Direct Benefit Transfer Scheme (LPG Subsidy). The Bank offers various Deposit Products. The Bank has been offering spectrum of financial services to different customer segments covering Housing Loans, Vehicle Loans, Educational Loans, Business Loans with the special and lowest interest @ 11.25% p.a. The Bank has also received license for conducting NRE & FFMC (AD-II category) business.

The Bank is proud to receive this award in recognition of its excellent services. The Bank is constantly riding the path of progress.

The Chairman, Mr. Albert W. D’Souza and Board of Directors have extended their gratitude to all the Shareholders, Customers and Well Wishers.