Way back in 1984, a group of enthusiastic and co-operative minded people belonging to KDO Jain Community assembled and took a strong decision for launching a Co-operative Bank of their own in this great city of financial hub and monetary operations. The promotion work was entrusted to Shri Pravin D Khona, Shri Laxmichand S Ratani & Shri Virchand L. Chief Promoter & founder Shri. Khona, a Chartered
Accountant, was the first Chairman of the bank. The bank opened branches in Mulund, Ghatkopar (
E), Chinch Bunder & Mohili Village thereafter. Head Office was shifted to present premises 10-A & 10- B, Karma Stambh, L.B.S. Marg, Vikhroli (West), Mumbai-400 083 from Bhandup w.e.f. 1.9.2006. The Bank has opened branches in Dombivli in 2009, APMC Vashi and Thane in 2010. Bank has taken early initiatives in technology upgradation and introduced Core Banking among its branch network. All branches are connected through network and any where banking within the branches are available. The Bank is live on Cheque Truncation System and NACH Credit System implemented by National Payment Corporation of India. The Bank has been showing improved performance year after year. Besides catering to all types of banking requirements, bank has opened 2 Reliance Energy Bills Collection Centres at Ghatkopar (E) & Mohili Village and have tie-up arrangements with some Nationalised & Private Banks for issuance of Demand Drafts & Bank Guarantees & collections of upcountry funds. Safe Deposit Vaults are available at Bhandup and Chinchbunder branches. Prime Lending Rate (PLR) :- Bank has introduced system of PLR based on credit rating,for the advances for Rs. 5.00 lacs (Rs.Five lacs) and above except Housing Loan, Education Loan, Transport Loan & Mortgage Loan against Property. The present Board consists of well experienced business professional people and take active interest in functioning of the Bank. Bank has professional management, having transperancy in its approach. Bank is headed by an experienced Chief Executive Officer Shri. Khona having wide experience at Senior Level position in a prominent public sector Bank. He is aided by well experienced & qualified staff at Branches/Head Office.
