News & Updates :
Reserve Bank Licence No.MH-335 Date :-24-03-1983
Society Registration No.KPR/BNK/26 Date :- 16-05-1975
Prof. Subhash Rane founder- Promoter alongwith his companions M/s. Balasaheb Patankar, Prof. Jaykumar Desai, Abdul Karigar, Arun Narke, Mahadeorao Mahadik, Chandrakant Jadhav, R. P. Patil, Vikas Satpute, Adv. Vijaysinh Nimbalkar and Anandrao Patil (Kaulavkar) registered the Bank on 16-06-1975 with a view to establish a financial institute on the principle of cooperation by the youth for development of youth to make them independent on their own feet. At that time, Mumbai Door Darshan took cognizance of the youth movement and released an extensive interview with the founder. Youth Bank was felicitated, at this juncture, for having established the first Bank in Asian continet on the principles of cooperation by youth and for youth. In the first year itself, the Board of Directors of the Bank surprised Bank’s members by achieving profit and declaring dividend of 1.5% . But the members sacrificed the amount of dividend to Building fund of the Bank voluntarily and this tradition was followed without any break for 15 years continuously. Bank could purchase the premises of it’s own of 5000 Sq. Ft. at Venus Corner, Kolhapur at Dr. Pendharkar Complex at 1st Floor in the year 1991 by unselfish sacrifice of its members of their dividend of 15 years. Today bank is functioning it’s three branches and Head office in it’s own premises those are purchased out of it’s own funds.
Bank treaded it’s difficult path during the first five years from it’s inception and out of difference of opinion election on the Board of Directors took place once only in the year 1981 in the total history of Bank. For a short while it was administered by an Administer also. The tempo of the election was very high but bitterness was avoided . It is a pleasure to note that thereafter election never took place. Every time, with the consent of all, unopposed elections took place since 1981 to 2009 covering a quarter of century which can be said thereby putting a role model for Maharashtra by Youth Bank. Infact, the Board of Directors is comprised of different leaders from different political parties from the District , but yet there is no politics in the cooperation. With this unique thought, unity has been safeguarded.
Erstwhile Chairman Adv. Vijaysinh Nimbalkar alongwith his colleagues fetched RBI licence by all efforts on 24-03-1983 and Youth Bank was the exception to have procured the licence in those days.
Once after procuring Banking Licence bank did not turn to look back. During the last two decades bank achieved tremendous and successful development under the leadership of Chairman Shri Arun Narke. It was a great ride leaving other well established banks far behind that was appalling to others. Bank’s logo which is familiar was created on 1st April 1991. Burden of evergreen nature of earth has been controlled by strength of both hands of youth and by image of key, safety and security has been made sure. Such a logo having such a wonderful idea was chosen by holding competition and the novel idea was of Climax Advertising.
Youth Bank is the First Bank from Western Maharashtra amongst Cooperative Banks to have adopted technically advanced software and had computerised bank by on line system. That time, even nationalized and private sector banks from this area were not at all introduced computerization. Bank is pioneer in Cooperative Banking sector from the Western Maharashtra to have installed Core Banking Solution and has started Any Branch Banking, SMS Banking (Alerts) and unique ATM facilities to it’s customers. Bank’s ATM card can be operated in any ATM centre throughout India and its ATM facility is available for 24 hours and Master, Visa and RuPay Cards of any banks can avail of our ATM centre facility. Further , Bank’s ATM Card is unique in the sense that Cheque Book Request and Request for Deposit can be passed through ATMs.
While carrying out banking business, Youth Bank never deviated from its main social responsibility and motto. Bank is continuously striding forth to foster financial help and guidance to youths. After the sad demise of able and active Director Captain Deepak V. Shinde ,Nesarikar in the year 1984, bank started to arrange blood donation camps on 7th November, his death anniversary day every year. Thousands of blood bottles have been donated by bank till today. Directors, employees, members, customers and wellwishers participate in this venture every year. Bank encourages NGOs, their volunteers, artists, sportspersons and students always and extends cooperation for social, cultural, sports and environmental activities aggressively.
Bank’s employees have contributed a significant share in it’s development. Well trained and, in need, without looking in to office hours continuously devoted employees of the bank are assets to it. Relationship of management with that of employees is just like a family and always cordial. Employees are leading in various fields. Banks cricket team is famous one and Athlete Pandurang Patil, Wrestlers Datta Phadtare, Ananda Jadhav et al are winners at all India level. Employees alongwith handsome salary are offered Bonus, Mediclaim, Gratuity , LTC and loan facilities for housing and purchase of two wheelers. They are motivated for furtherance of advanced education by offering incentive in additional salary increments.
There is no surprise that the bank extended its area of operation. Today Bank is having its own premises for Head office and extending services to public through 12 branches situated at Shahupuri, Laxmipuri , Mangalwar Peth, Jaysingpur , Kasba Bawada, Market Yard, Shiroli Pulachi, Gokul Shirgaon (MIDC), Nagala Park, Jaragnagar, Kalamba and Gadmudshingi and 2 extension counters at Rajaram Sugar Factory and Gokul Dairy. Bank has won Best Bank Trophy twice in the year 1975 and 1999 awarded by Indian Banks Association’s Bank Sports at All India level. Bank has also won fifth time Awards from Banking frontiers Magazine for outstanding performance in Information Technology at all India level from Cooperative Banking sector.