Mahanagar Cooperative Bank

RBI has allotted IFSC codes to all the bank branches in India. It is a unique 11-digit codes with alphanumeric characters. It is mandatory to enter these codes to ensure that the transferred funds go to the right person account.

For example, we can take IFSC code: "MCBL0960058" - of Mahanagar Co-operative Bank Limited branch in Yerawada, Pune, Maharashtra.

• Here, the first four alphabets, MCBL, indicate the bank name, i.e., Mahanagar Co-operative Bank Limited,
• The fifth digit is 0 (zero) - provided for future use.
• The last six digits 960058 - denotes a particular branch of Yerawada, Pune, Maharashtra.

This IFSC code is used for online money transactions via NEFT, RTGS and IMPS to any Mahanagar Co-operative Bank Limited account or to other bank accounts.

According to RBI guidelines, the IFSC code is mandatory for interbank transfers via, NEFT and RTGS to any bank in India. This code helps to avoid the risk factor while sending and receiving funds through banks in our country and it makes sure that the money reaches the right account holder at the specified branch.

Easy way to find Mahanagar Co-operative Bank Limited IFSC Code and MICR Code?

The customer can find MICR codes and IFSC codes which are printed on passbook and cheque books/ leaves issued by Mahanagar Co-operative Bank Limited. The website of Reserve Bank of India also offers the entire list of IFSC codes required for the account holder. The customers can also enter into the bank's official website. Customers must feed some bank details like the state in which it is located, the district in which it is located and branch name to get IFSC codes or MICR codes.

Mahanagar Cooperative Bank Branch Details

• Maharashtra

ABOUT MAHANAGAR COOPERATIVE BANK

• Initially, this bank was established in the name of "The AhmednagarSahakari Bank Limited" by the people from the Ahmednagar District of on 6 October 1973. Late Solicitor Shri. G.S.Shelke and his colleagues were the motivating force behind the establishment of this bank. G.S.Shelke became the first chairman, Lt. Shri. G.A.Thube, the first vice-chairman, Shri. S.S.Bhagat, the first secretary. These dedicated men in charge of the bank had commendable sense of service and duty imbibed in them.


• The bank has a humble beginning with the minimum amount of Rs.10/- per share collected the initial share capital of Rs.1.36 Lakhs from all over Mumbai. The bank was initially set up to help mill workers from Kalachowki and Lalbaug area and Dock workers from Carnac Bunder, Fruit, Vegetable and Flower vendors from Crawford market, Byculla and Dadar market, Fish vendors from Colaba and small number of shop keepers and self-employed persons.


• In the later stages, the bank decided to cater the needs of common people from all sectors of the society. To obtain this, the bank has decided to change the name from "The AhmednagarSahakari Bank Limited" to "The Mahanagar Co-operative Bank Limited" came into force with effect from 21 January 1998.


• For the past 48 years, the bank had gained Strong foundation in terms of its membership, resources, assets and profits. During this period the bank grew from strength to strength. It secured 'A' grade classification for all the years from the beginning. Resultantly, the Reserve Bank of India awarded scheduled status to the bank on 30 January 1998. This also boosted the confidence of the members, account holders and depositors of the bank.


• The bank is confident to make future wisely and consistently. It has been paying dividend to its shareholders at the rate of 15% which is maximum permissible dividend as per the MCS Act. It has a total of 61 branches and nonstop 12 hours service in five branches. Area of operation covers the all over Maharashtra. The bank is perhaps the fastest growing bank in the co-operative sector.


• The Board of Directors have visualized the future increasing competition in this industry and also the expectations of Reserve Bank of India. The Board of Directors is considering the introduction of Modern Banking Services such as ATM Centers, Debit Card, Home Banking, RTGS, NEFT, Demat, IMPS, Net Banking, etc. The bank is providing satisfactory customer service with the help of the latest technology. It has provided fully computerized services to its valued clients. With advanced banking system and to upgrade its existing technology, the bank has introduced "Total Bank Automation" to provide the facility of inter-branch connectivity for any time and any branch banking transactions.

ADDRESS:
GS Mahanagar Co-Op Bank Ltd,
Hiramani Super Market BLDG, Dr. B.A. Road,
Lalbag, Mumbai - 400 012.
contact:: (022) 24711918, 24712535, 24711395,
Email: complaint@mahanagarbank.com