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SVC Bank receives prestigious award for 100+ years of dedicated service

Mumbai, June 29th, 2022: SVC Co-operative Bank Ltd. (SVC Bank – earlier known as The Shamrao Vithal Co-operative Bank Ltd.) has been conferred with the award for 100+ years of dedicated service in the co-operative banking sector by the Hon’ble Union Minister of Home Affairs and Cooperation – Shri. Amitbhai Shah in the presence of Hon’ble Minister of State for Cooperation – Shri. B.L.Verma at the National Federation of Urban Cooperative Banks and Credit Societies Ltd (NAFCUB) Conclave at Vigyaan Bhavan, Delhi. The conclave saw the participation of leaders from Government of India, Co-operative Banks, Credit Societies and the Reserve Bank of India with seminars and panel discussions on the future role of Urban Cooperative Credit Sector.

SVC Bank Chairman, Shri Durgesh Chandavarkar and Vice Chairman, Shri Udaykumar Gurkar received the award. Addressing the conclave Union Minister of Home Affairs and Cooperation Shri. Amit Shah acknowledged the contribution of co-operative banks in the nation’s economy. Shri Amit Shah also highlighted focus areas for the sector and shared encouraging words to go for bigger market shares, assuring of good support from the Government of India.

After receiving the award Mr Durgesh Chandavarkar, Chairman, SVC Bank, said, “It is an honour for SVC Bank to be felicitated by Shri. Amitbhai Shah – Hon’ble Union Minister of Home Affairs and Cooperation, for 100+ years of dedicated service in the co-operative banking sector. This award is an acknowledgement of our efforts to offer the best banking experience to our customers. We are one of the few cooperative banks to invest in technology and become a one-stop shop for our customers’ financial requirements.  As one of the leading banks in this sector, we are committed to its growth and inclusion objectives and draw further inspiration from this recognition to keep delivering excellent personalised banking solutions. We dedicate this award to our customers, shareholders and the entire team at SVC.”

SVC Bank is one of the oldest and most recognized names in the country, one of the leaders in the cooperative Banking space since 1906. The bank has bagged several prestigious awards earlier. The Bank has been acknowledged as the Best Co-operative Bank three years in a row. Recently, SVC Bank was conferred with Co-operative Bank of the Year at India Banking Summit and Awards 21-22. It has also been acknowledged with many prestigious awards, like ‘Data Centers Award’ & ‘Enterprise Security Award’ at Express BFSI Technology Awards 2022, Award for Outstanding Response to Covid 19 at Co-operative Banks Ingenious Leadership Summit and Technology Awards 2022, and Best BFSI Brand Award 2021 at The Economic Times Best BFSI Brands.


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