Nav Jeevan Sahakari Bank Limited – Ulhasnagar was established in the year 1985 in the city of Ulhasnagar. It has completed 26 years of its establishment, has become a mighty force in the commercial, economic and social sector.
A small and humble beginning made by the founder and current Chairman Mr. Setaldas K. Harchandani (Former MLA), Ulhasnagar has grown into a very popular co-operative bank having 8 branches – 7 branches in all sections of Ulhasnagar city and one branch in Kopri Colony, Thane (East).
The Bank has come into existence with the purpose and mission of Ulhasnagar and its people as envisioned by the founder Shri. Setaldas K. Harchandani, popularly known as “Dadaji”.
During 2000-2001 when the cooperative banking system in India was passing through a difficult phase. Nav Jeevan Co.-Op. Bank Ltd. had undergone a major change in its business and personality profile. With the induction of personnel at middle and senior management level from the sector of nationalized banks, the bank has been kept on fast track. from a cooperative. Bank with a turnover of Rs. 100 crores increased to Rs 850 crores+ business in 2000-01.
As of 2002, Koi Pvt. Sector Banks and Nav Jeevan Bank and Nationalized Banks in Ulhasnagar were serving the banking needs of the domestic and business communities, after 2003, almost all Pvt. With the latest infrastructure sectors like ICICI, HDFC, Axis Bank, IDBI etc entered the city of Ulhasnagar. There was a question mark and apprehension as to how Nav Jeevan – a local community based bank was going to survive the competition. With the vast reach of the bank at all corners at the grassroots level and with the tech savvy and infrastructure, if the new generation bank, both are able to support and complement each other’s efforts in meeting the growing banking needs of the city . These new generation private sector banks operating in the neighborhood were not seen as competitors but as co-partners for development and meeting the banking needs of the people of Ulhasnagar.