Shriram Urban Cooperative Bank: Fostering Financial Inclusion & Steering Needed Innovation

In the modern dynamic financial environment, cooperative banks are under heavy competition with private banks, fintech companies, and online payment systems. These rivals provide new products and smooth digital experiences.

The expectations of the younger generation towards convenience and speed, coupled with the appealing interest rates offered by competitors, threaten the conventional model of customer loyalty and personalized service.

Shriram Urban Cooperative Bank Limited skillfully overcomes these challenges by integrating the innovative digital banking services with the signature personalized services.

With its mobile banking, internet banking, and powerful digital payment solutions, the bank is both accessible and closely connected to the community, keeping its current clients and appealing to younger, more technologically inclined consumers.

Empowering Members with Inclusive Innovation

Shriram Urban Co-operative Bank has established its brand not just based on its strong financial performance but also based on its overall customer-centric service offering that brings together the time-tested values of banking with the new digital innovation.

Since its inception, the bank has an impressive service portfolio that is based on its mission to offer accessible, secure, and value-oriented financial solutions to its members and the community at large.

The heart of its products is to offer deposit and savings products that are designed to meet the needs of individuals, businesses, and cooperative societies. Starting with regular savings and current accounts, the bank provides customers with fixed and recurrent deposits at good interest rates that guarantee financial growth and liquidity.

These deposit plans are aimed at promoting the saving culture and also offer a consistent payback, which replicates the extensive collaborative values of the bank.

In the age of digital products, we have maintained personalized customer service as our USP

Parag Saraf, Chairman

On the lending side, the credit and loan services of the bank are both inclusive and diversified. It offers personal loans, housing loans, vehicle loans, business loans, and small-scale industry advances, so that each of the sections, such as salaried people and businesspeople, has a loan that fits their needs.

It also gives particular attention to priority sector lending, such as agriculture, MSMEs, and small traders, to facilitate economic self-reliance and community building.

At the helm, the bank is guided by visionary leadership. The Chairman, Parag Anant Saraf, a seasoned builder, remarked, “Our commitment has always been to create sustainable value for our customers and community.

By embracing technological advancement and sound financial practices, we are proud to contribute meaningfully to Vidarbha’s economic development”.

The Vice Chairman, Ajit Gokarn, a distinguished Chartered Accountant, practicing for last 45 years, emphasized, “Rigorous fiscal discipline and adherence to regulatory frameworks have been pivotal in achieving our robust capital and asset quality metrics. Our goal is to ensure that our cooperative principles translate into real-world impact”.

With the shift in customer preference towards the digital, the bank has adapted to the digital world to the latter with its advanced digital banking services. Members are now able to access digital payment platforms to have a smooth transaction. This will not only make the work more convenient but will put the bank in a competitive position within a digital market that is on the rise.

Although the bank is technologically advanced, it has not lost its trademark of personalized service, so that all customer interactions are characterized by warmth and trust. The bank also offers value-added services, including ATM services, NEFT/RTGS money transfers, and issuance of demand drafts, which are supplemented by effective customer support and redressal systems.

As CEO, Milind P. Kulkarni aptly stated, “In the age of digital products, we have maintained personalized customer service as our USP”. This philosophy underlines the bank’s commitment to combining innovation with integrity—offering not just banking, but a partnership built on trust, transparency, and long-term value creation.

A Journey of Resilience & a Vision for the Future

Founded in 1996, Shriram Urban Co-Operative Bank in Nagpur has become a symbol of reliability and financial superiority in the area of Vidarbha region. Since its inception, the bank has grown steadily to have five fully established offices in Nagpur and has become the standard of good governance, innovation, and member-focused banking.

The bank has shown exceptional financial solidity over the years, with a zero net NPA and a gross NPA of only 2.07 percent, which shows its conservative lending and effective risk management. With its CRAR of 22.10%, well above the regulatory level, and a sustained increase in deposits, advances, and reserves, it has a strong and sustainable financial base.

Having three years of continuous A-rating of the audit and the coveted Financially Sound and Well- Managed (FSWM) designation, the institution is a shining example of accountability and high standards of excellence in cooperative banking. The bank has been able to strike a balance between tradition and transformation under the dynamic leadership of Chairman Parag Anant Saraf, vice chairman Shri Ajit Gokarn, and Chief Executive Officer Milind Kulkarni.

Going forward, the future roadmap of the bank is to intensify financial inclusion, broaden its digital ecosystem, and improve its operational efficiency. It also seeks to solidify its presence in urban and semi-urban markets, advance small loans and MSME financing, and be an active participant in the economic development of Vidarbha.

With the principles of professional governance and a strict adherence to the principles of cooperation, Shriram Urban Co-operative Bank is still on the way to becoming a top, visionary financial institution that respects its members and makes the community stronger.