The Thane Bharat Sahakari Bank Ltd., established in 1979, is one of the leading Co-operative Banks in Thane district. Since the date of inception, the Bank has grown by leaps & bounds with 30 branches, spread over Mumbai, Thane, Raigad and Pune districts. (as on 31.03.2020)
At the time of inception of the Bank, i.e. in late 1970s, there were only 2 Co-operative Banks in Thane city. Thane city, being centrally situated in the growing industrial belt on one hand, and being equidistant to western side on Ghodbunder Road to Karjat, Kasara and also Mumbai on the other, was developing vertically and horizontally as well, which resulted into growth in the population belonging to all strata of the society. Naturally, a need for another Bank was evident. Two enthusiastic persons, viz. Dr.V.N.Bedekar and Mr.M.Y.Gokhale, along with many such likeminded senior social workers, came up with an idea of having one more Co-operative Bank for Thane city and district.
After completing preliminary formalities, the Bank was registered with District Co-operative Registrar on 25th September 1978. Subsequently, the first General Body Meeting of the Bank was held on 28th October 1978 and in that Meeting, a Team of first Board of Directors was elected. Dr.V.N.Bedekar was elected as the Chairman and Mr.M.Y.Gokhale as Vice Chairman.
The relative Reserve Bank of India (RBI) Licence for opening the Bank was obtained on 19th April 1979 and on the auspicious day of ‘Akshaya Tritiya’, on 29th April 1979, the Bank was inaugurated at the hands of noted Economist of that era, Dr.V.M.Dandekar. The Bank started functioning at spacious premises at ‘Shatataraka’, with its Administrative Office and the first Branch viz. Main Branch. The Bank was awarded status of ‘Scheduled Bank’ on 8th March 2003.
It will be interesting to know that, initially the Bank was named as the “Bharat Sahakari Bank” Ltd., Thane. Subsequently, the name was changed to the “Thane Bharat Sahakari Bank” Ltd. to avoid confusion in the minds of the people, as two other banks, styled as “Bharat Co-operative Bank” and Bharat Sahakari Bank” were also functioning at the time. Thus, the transformation in the name from “Bharat Sahakari Bank Ltd”. Thane to “Thane Bharat Sahakari Bank Ltd”, took place.
In the year 2003-04, the Bank celebrated Silver Jubilee Year. A Souvenir was published in the Silver Jubilee year, highlighting various milestones achieved by the Bank during its journey of 25 years.
The Bank participates in many social events in Thane city, like “Nav Varsha Shobha Yatra” (Nandi songs of which were famous / popular ) on the eve of Gudhi Padwa and also contributes to many social events through donations, ads and, even on few occasions it sponsors some social programmes.
The Bank is well equipped in the area of mechanization / computerization of its services through 30 ATMs, Mobile Banking, RTGS, NEFT etc. etc.