Sutex Cooperative Bank Limited

RBI has allotted the Indian Financial System Code in short denoted as IFSC codes to all the bank branches in India. IFSC codes are unique 11-digit codes with alphanumeric characters. These codes help the users to ensure that the transferred funds go to the right person account, without any errors.

For example, we can take the IFSC code: "SUTB0000001" - of Sutex Cooperative Bank Limited branch in Udhnamagdalla Road, Surat, Gujarat.

• Here, the first four alphabets, SUTB, indicate the bank name, i.e., Sutex Cooperative Bank Limited.
• The fifth digit is 0 (zero) - provided for future use.
• The last six digits 000001 - denotes a particular branch of Udhnamagdalla Road, Surat, Gujarat.

This IFSC code can be used for online money transactions via NEFT, RTGS and IMPS to any Sutex Cooperative 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.

Easy way to find Sutex Cooperative 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 Sutex Cooperative 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 by clicking the link will lead to another page where four columns are displayed. 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.

Sutex Cooperative Bank Limited Branch Details

• Gujarat

ABOUT SUTEX COOPERATIVE BANK

• The Sutex Co-operative Bank Limited was established at Surat, Gujarat on 15 May,1972. At the prime time of opening 'The Sutex Co-operative Bank Limited' its name was 'The Surat Textile Traders Co-operative Bank Limited'. In the year 1972, the bank founder Chairman late Shri SurajramBachkaniwala and Vice Chairman late Shri AshabhaiShankarbhai Patel having a prosperous vision to provide a golden & profitable market to Surat's Textile Industry, registered the bank at a cooperative level. It provided services with a view to help 'Surat Textile Market' shop keepers with banking facilities and help them to start and manage their businesses.


• The Sutex Co-operative Bank Limited in the initial stage started with only 270 shareholders and with Rs.1.10 lakh Share Capital. As on 31 March 2019, the number of shareholders crossed 33,169 and share capital of Rs.5,596.76 lakh. As on 31 March 2020, the bank has crossed a total deposit of Rs. 2,057 crores and total advances of Rs.1,386crores. It has a total of 18 branches and an administrative office


• The bank started with only four employees and as of today, it has a big circle of 206 employees. It has been providing up to date training to all employees of different levels. All the Sutex Co-operative Bank Limited branches are well organized and completely computerized and is one of the leading banks across South Gujarat. It was the first bank to provide ATM facilities through the co-operative sector to its customers.


• In Surat City, the bank provides complete Core Banking Facilities to its customers. It may be noted that the Core Banking Solution was completed in just a 3 months period which included 14 branches and an admin office which showed a positive approach and proof of determination of the bank staff. With CBS facilities the banks valued customers now can avail all kinds of banking services and facilities from any branch.


• The bank considers its customers as a valued customer and provides top level banking services which has made the bank very popular among the customers. It leads not only in providing banking facilities but also is very active in social services. Surat has been hit several times by natural calamities like floods where the bank has instantly helped its customers without a delay. During the floods at Surat in the years 1994, 1998 and 2006 the bank provided loans to those who took severe damages within 24 hours which was noteworthy.


• Under technology up-gradation scheme of the Indian Government's textile industry, the bank has got approval to provide direct advances and loans. It was the first bank to achieve such approval across the nation under Urban Co-operative Banks Category.


• Under the TUF scheme, the bank has advanced a total of Rs.400 crores and have helped receive fast subsidies to its shareholders which has resulted in strengthening our country's overall economy. For this achievement the bank has received an honourable certificate from the Ministry of textile. Currently, the bank provides all kinds of banking facilities including CBS, E-statements, SMS alerts, RTGS/NEFT, E-payments, ATM's, IMPS, Lockers, Stamp Franking etc.

ADDRESS:
Sutex Cooperative Bank Limited,
Admin Office,
2nd Floor, SurairamBachkaniwalaBhavan, Near Navjivan Circle,
UdhnaMagdalla Road, Surat - 395 017, Gujarat, India.
For further details contact:0261-2632027, 2632029, 2632026.
Customer Care: 0261-2630519, 2634702.
Email:sutexcbs@sutexbank.in