Shikshak Sahakari Bank Ltd.



Shikshak Sahakari Bank Ltd. was established in the year 1979 with the aim to help teachers to meet their financial needs. The thought of establishing a bank had cropped up in the minds of its founders in the year 1976. However, it saw its realisation in January 1979. The Bank was started with a share capital of Rs. 3.50 lacs only. The founders of the Bank were teachers by profession. It can be said that Shikshak Bank is a bank founded by teachers for teachers. However, later the Bank did not keep itself limited to teachers but opened its membership to all. It also started financing for commercial purposes from the year 1987. The Bank achieved the deposit target of Rs. 100.00 crores in the year 1996-97. Consequently, it was awarded the Scheduled Status on May 22, 1999. Shikshak Bank is the first bank to get this status within twenty years of its inception, which is obviously a very short time-period. However, the bank’s accomplishments don’t end here. In the year 1999-2000, the Bank secured 20th rank amongst other banks with regard to deposits and was placed first in Vidarbha. In the year 2000-2001, it rose to the 19th position amongst the banks with regard to deposits while maintaining its top position among the banks of Vidarbha. The Bank presently has 19 branches functioning in Nagpur and Chandrapur districts. It has plans to open more branches in the near future. The area of operation of the Bank includes Nagpur, Chandrapur, Wardha, Yavatmal, Bhandara and Gadchiroli districts


The Bank has advanced loans extensively to various industries at MIDC, Hingna, Nagpur, Butibori, Kalmeshwar, Chandrapur, etc. and also for commercial purposes. Besides, it has also given advances to traders, transporters, etc. 70 % of the Bank’s advances have been made for business and industrial purposes. The Bank has also made 60 % of its advances in the priority sector.

The Bank has always been contributing for various social causes including relief for victims of natural calamities. Apart from this, the Bank regularly makes donations from its Member Welfare Fund for the benefit of its members

The Growth

Increasing deposits is not sufficient. Bank also needed to increase its advances to achieve the required CD ratio. For this, Bank has launched new, attractive loan schemes like Sobati, SSB Suvidha, SSB Aadhaar, SSB Sathi, SSB Sarthi, SSB Sahyog, etc., which are sure to boost our credit portfolio.

Very recently, Bank has obtained permission from the Reserve Bank of India and the Govt. of Maharashtra’s Dept. of Cooperation to launch a scheme for long-term deposits. Shikshak Bank is probably the first one in Vidarbha to introduce such a scheme. As per this scheme, which has been named ‘SSB-Sahabhaag’, depositors can keep their deposits with the Bank for a period of minimum 5 years to maximum 10 years and earn an interest @ 11 % on them. The scheme has been made open to public on 13th February 2009 and it will close on 31st March 2009. The scheme has received a huge response until now. Bank has mobilized deposits to the tune of 2.00 crores on day one itself. The RBI has set a target of Rs.20.00 crores for the Bank to achieve under this scheme till 25th March 2009. These deposits will be included in Tier-II Capital of the Bank. And hence, if the target is achieved it will bring up the CRAR of the Bank to 9 % and turn Bank’s Net Worth to positive. Achievement of these parameters will play the main role in lifting the Bank from grade IV to grade I. Bank has, therefore, pinned great hopes on this scheme and seeing the huge response it is getting, Bank is sure to achieve the required parameters and rise to upper grade.

Our Mission

Mahatma Gandhi has said that strength does not come from physical capacity, it comes from an indomitable will. Shikshak Bank has proved this time and again and, thus, set an example for others. It has survived all odds and is now on the path of well-being and will soon be prosperous, thanks to the hard work, indomitable spirit and perseverance of its Management and Staff. It is said that God helps them who help themselves. Same has happened with Shikshak Bank. The Management and the staff of the Bank are working hard together and with their customers’ faith with them, the Bank is sure to reach new heights.

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