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The Bank, which was established by collecting
rupee one from its  common
members by way of installments towards its
Share Capital, retained the word `Rupee'
in its new name thus reaffirming its pledge
towards the common man.
Visionaries who were inspired by the work
of late Shri Lokmanya Tilak,
a noted Freedom Fighter, established Rupee
Co-operative Bank in 1912. Rupee Co-op.
Bank Ltd. is one of the leading Urban Co-op.
Banks of the country. The most remembered
names of Late Govind Ganesh Dharap,
Late Kalurambhau Mansaram Naik and
Late Keshav Rajaram Doke, the founder
members were those people who converted
teachings of Late Shri. Lokmanya Tilak into
reality. The Bank was founded for the benefit
of a common man and to spread the message
of co-operation. Started with a small deposit
of Rs. 858/- in 1912, the bank crossed the
landmark figure of Rs. 1,000 crores in 1998.
The Bank which was originally named as
'The Poona District Co-op. Rupee Bank Ltd.'
was renamed as `Rupee Co-op. Bank Ltd.'
in 1980-81. Initially, the bank collected
rupee one from its common members by way
of installments towards its Share Capital,
retained the word `Rupee' in its new name
thus reaffirming its pledge towards the
common man.
The Bank became a Scheduled Bank in 1988,
very first day when RBI decided to accord
the status of Scheduled Banks to Co-operative
Banks in India. Rupee Bank ranks 3rd amongst
1,936 Urban Co-operative Banks in India
today.
 "Rupee
Bank" is not only a Bank but it is
a movement of socially committed people.
Some of their social activities include
arrangement of blood donation camps, financial
help (and not loans) for critical surgeries
to the needy people, help to disaster-affected
people, felicitation of brilliant students
and actual work during the period of hostilities
in Kargil.
The Bank is conscious about the quality
and has got an ISO - 9002 certification
to one of its branches.
The Bank has set several targets for 2003.
By 2003 Rupee Co-op. Bank Ltd. plans to
have at least one Branch office in all the
Districts of Maharashtra State. By 2003,
not only all the Branches/Offices would
be fully computerised but will also have
inter-connectivity, which will facilitate
transaction from any centres of the Bank.
The agenda for 2003 includes electronic
transfer of funds, telebanking, home banking
etc. In new product development, bank has
plans to design new deposit scheme with
flexible interest rates and easy liquidity
and also plans to enter into full-fledged
forex operations. Very shortly the Bank
would be entering into Hire Purchase and
Leasing on a large scale as alternative
to traditional loaning systems. Bank is
also negotiating for introduction of a unique
credit card, again for the first time in
co-op. sector. It is predicted that the
role of people in tomorrow's banking would
be diminishing, and it would be mostly paperless,
peopleless, but purely electronic retail
banking.
Today they have about 19 branches in and
around the city & District, besides
branches in Mumbai, Thane, Kolhapur, Nashik,
Aurangabad and Nagpur.
Address : 2062, Sadashiv
Peth, Pune 411 030. Phone: 433 6598,
433 3795.
Fax: 433 7519.
URL: www.rupee.com
Prasad Hiranwar
Text & Photos Courtesy: Rupee Bank
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