AKOLA JANATA COMMERCIAL COOPERATIVE BANK was established on 20.10.1969 by Late Shri Vasantrao Naik, Chief Minister of Maharashtra. The bank is making steady progress. Initially the share capital of the bank was Rs. 1.09 lakh and currently it is Rs. 3759.03 lakh in 1970 the amount deposited with the bank was to the extent of Rs. 3.39 lakhs by increasing them to Rs. 122192.64 lakhs. The bank has been making profits since its inception. Presently 612 employees are rendering service in the bank. The bank has been paying dividend to its shareholders since its inception.
The state of Maharashtra has played a very important role in the development of the cooperative movement in India. Through this movement many co-operators have dedicated their lives for the upliftment of the common man. Among them Late Shri. Jamanlalji Goenka and Late Shri. Vinaykumarji Parashar is a remarkable personality who was inspired by the spirit of equality and love for social justice.
The bank through its computerized 36 branches and 4 extension counters is serving the common people of Maharashtra and Madhya Pradesh and gradually conquering the pinnacle by attaining the status of Multi State Scheduled Bank.
Despite facing the challenges of globalization and the Basel Reforms, the bank continued on a stellar path since earning profits and paying dividends to shareholders. From the point of view of social responsibility, it has formulated various schemes for the upliftment and welfare of weaker section, such as educational loans at comparatively low rates, banking services at a glance for senior citizens, disabled and women. It is providing various customer service like Franking, De-mat, General Insurance etc.
The bank was conferred with the title of “Excellent Schedule Bank” by Vidarbha Urban Co-op Bank Association Nagpur.
With the support of all the Directors, their vision and constant efforts have laid the foundation of a strong and vibrant institution and the Bank is progressing manifold.
For this splendid achievement and success lies the team work of the Board of Directors, who have taken keen interest and hard work for its growth. Among these stalwarts, Shri Sakarchandji Shah is the President, Shri Gyanchandji Garg as the Vice President, a person of name and fame in the business and industrial sector. Ramakantji Khaitan, Bhimraoji Dhotre, Rashmikantji Patel, Prof. KG Deshmukh, Gurmukh Singh Gulati, Santoshji Gole, Kamalkishorji Kagliwal, Biharilalji Biyani, Sunilji Tulshan, Dr. Subhashchandraji Tiwari, Shivprakashji Minister, Ms. Manorama. Haria, Dr. Manik Dhoot, PM Sadanshiv, Vilas Agarwal (Staff Representative) is a studious, hardworking and best administrator, who is successfully managing the affairs of the Bank.
Akola Janata Bank truly understands the meaning of the word ‘Cooperative’ in their name and inculcates this spirit for all their clients both at retail and corporate level with our well informed, knowledgeable and professional staff, well designed products and extends through impeccable. Services.
Speed, accuracy and efficiency, all of which are essential to deliver a quality product, are a rare mix when dealing with Akola Janata Bank. More importantly, it all comes at a very reasonable price and there is complete transparency in dealing with each step.
The bank has opened seventeen branches in Akola and Washim district in a short span of time. Akola Main Branch, Malegaon, Risod, Washim, Mangrulpeer, Karanja, Telhara, Murtizapur, Akot, Shirpur, Manora, Tapadia Nagar, Tajnapeth Gorakshan Road Akola Old City Akola Akot Road Akola and Malkapur Road Akola. Three branches in Amravati Parvatwada Chandur (Railway) of Amravati District. Two branches at Khamgaon and Malkapur in Buldhana district. Yeotmal district has three branches in Yeotmal, Degrasse and Pusad. One branch at Jalgaon in Jalgaon district and one branch at Nagpur in Nagpur district one branch at Nanded in Nanded district one branch at Parbhani in Parbhani district. Two branches at Kalbadevi and Goregaon in Greater Bombay, one branch at Aurangabad in Aurangabad district, one branch at Burhanpur in Khandwa district and one branch at Indore in Indore district in Madhya Pradesh. Four extension counters in Gurunanak Vidyalaya Akola attached to our Gorakshan Road branch Akola. At Nutan Vidyalaya Reynold Memorial Hospital Washim attached to our Telhara branch and Laxmichand Jr. attached to our Washim branch. College Shelu Bazar Our Mangrulpeer branch is attached to the Reserve Bank