Top 10 Cooperative Banks in India 2024

Today, more than 80% of the Indian population has a bank account to their name. However, even today, if an adult is asked about the definition of a bank, he or she might stumble on it a bit. So, to help them out, a bank is a financial institution that accepts, stores and lends money.

Possibly the shortest and simplest way to describe a bank. Cooperative banks are small financial institutions that lend money with generally lower interest rates and do not have deep pockets. Here, in this article, we would be talking about the top 10 cooperative banks in India.

Name of Cooperative Bank	Number of Branches	Number of ATMs	Founded	Headquarter
1. Saraswat Cooperative Bank	283	311	1918	Mumbai
2. Cosmos Cooperative Bank	140	–	1906	Pune
3. Shamrao Vithal Cooperative Bank	62	–	1906	Mumbai
4. Abhyudaya Co-operative Bank Ltd	111	114	1964	Mumbai
5. Bharat Cooperative Bank	102	105	1978	Mumbai
6. TJSB Cooperative Bank	136	125	1972	Thane
7. Punjab & Maharashtra Co-operative Bank	137	–	1984	Mumbai
8. Janata Cooperative Bank	5	–	1956	Delhi
9. Kalupur Commercial Cooperative Bank	–	–	–	–
10. NKGSB Cooperative Bank	104	–	1917	Mumbai

1. Saraswat Cooperative Bank

Well regarded as one of the largest banks of its type in the nation, the bank boasts a bright history of over 100 years. Presently, the bank is headed by Gautam Thakur who happens to be the Chairman of the bank.

The bank has a revenue of around Rs 3,376.02, which is commendable for a cooperative bank. The great customer support and the transparent policies of the bank have helped the bank not only to stay afloat for all these years but also to shape itself up as one of the giants of its type in the nation.

2. Cosmos Cooperative Bank

Founded in the year 1906 by N.C. Kelkar, this bank has its roots in the pre-independence era. The company has a workforce of more than 2800 and operates at as many as 140 branches across the nation. The bank has produced some promising figures when it comes to its market capitalization and profits.

This has helped the bank become one of the best in the segment and also helped gain the trust of the customers. Among the many firsts that the company has to its name, the one that should really be taken note of is that it was the first cooperative bank to have a currency chest.

3. Shamrao Vithal Cooperative Bank

Also widely known as SVC bank, is a scheduled co-operative bank in India. The registration of the company goes back again to early 1900. The company was set up in the year 1906 in the financial capital of the nation, Mumbai.

The bank attempts to serve the largest number of people and in its pursuit to help the largest group of people, the bank has started its operations in as many as 10 states across the nation. The bank is present in Maharashtra, Telangana, Karnataka, Tamil Nadu, Delhi, Rajasthan, Goa, Haryana, Gujarat, and Madhya Pradesh.

4. Abhyudaya Co-operative Bank Ltd

The first bank on the list started its operations in the nation after independence. With what started off as a cooperative bank in the year 1964 with an initial investment of just Rs 5000, the company has grown in leaps and bounds.

In the present day, the company boasts revenue of US$1.8 billion with $13 million in profit. The bank largely depends on quality and makes sure that it is not compromising on the same. To ensure the same, the company has confined the areas of its exercise to just 3 states in the nation.

5. Bharat Cooperative Bank

With quite a bulky customer base of around 5.5 lakhs, the company offers its services to the states of Maharashtra, Karnataka, and Gujarat. Although the company on paper might seem to have lesser experience as compared to the other alternatives, the company still seems to have gained the trust of the customers.

The company has been able to keep up with the changing days and offers new tech solutions like mobile applications, various offers with their cards, and much more. This helps them provide a satisfying experience to the clients who have an account with them.

6. TJSB Cooperative Bank

Having as many as 136 branches, Thane Janata Sahakari Bank is one of the biggest banks in the nation when it comes to the number of people offered on a daily basis. The bank serves 5 states and has around 136 branches all across the nation.

The bank has always felt the need to adapt itself to the latest technologies and in a way help the customers in the best way possible. They are the first cooperative bank to make UPI live. The bank also boasts award-winning mobile applications and payment systems. Both of these make transactions and banking easier for the account holders.

7. Punjab & Maharashtra Co-operative Bank

Although in recent years, the bank has not performed as per expectations and has been in the news for all the wrong reasons, the bank still holds its place as one of the dependable cooperative banks. This is the youngest bank to have been awarded the scheduled bank status by the Reserve Bank of India.

The bank has registered a profit of Rs 99.69 crore in the year 2019, which helps make them one of the most profitable banks in the nation. Although some wrong decisions and mismanagement have led the company to some distress in recent times, hopefully, the company will come out of it very soon.

8. Janata Cooperative Bank

The bank is one of the fewest to have started its operations from outside Mumbai. This bank was founded in Malleshwaram, Bangalore. The bank has had some of the prominent names of the nation associated with them. They are relied on as one of the most transparent banks which follow in their footsteps to help themselves accomplish new goals as a cooperative bank.

The bank has a reserve of Rs 1,336.61 crore and has for years now provided the shareholders with a constant dividend of 18%. The policies of the bank and the management all together seem determined to push the bank to new standards in the years to come.

9. Kalupur Commercial Cooperative Bank

This bank was established in the year 1970, in Gujarat. The bank is named after its place of origin, i.e. Kalupur. The company has been showing a year-on-year profit increment in a few recent years. As per the financial records disclosed for the year 2019, the bank has a working capital of Rs 8652.34 crore which brings a net profit of about Rs 122 crore for the company.

The bank is customer friendly and has provided the customers with all the basic facilities along with some of the outstanding ones that are usually not provided by most co-operative banks.

10. NKGSB Cooperative Bank

Being incorporated in the year 1917, the bank has since then been one of the most dependable co-operative bak in and around Mumbai. The bank has also spread its 109 branches across the states of Maharashtra, Karnataka, Goa, Gujarat, and Madhya Pradesh.

With a well-defined set of goals, values, and principles, the company seems more sorted with its goals than most other companies. The bank is also working aggressively to achieve the goals that they have set for itself and the shareholders of the bank.

Since the good old pre-independence days, cooperative banks have been one of the most dependable sources of financial support for people. To date, these companies listed above happen to have the confidence of the account holders in them.

These Cooperative banks listed above seem to have done it all right in the previous years and they would emerge larger in the days to come. So, if you are looking to invest in the best co-operative banks in India, you should probably choose from one on the list.

Updated: 10 March 2024