STATE BANK OF INDIA EMPLOYEES'(M.S.PATEL)
CO-OPERATIVE CREDIT SOCIETY LTD., MUMBAI

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About Us

The State Bank of India Employees' (M.S.Patel) Co-op. Credit Society Ltd. was established by Shri C.S.Patel, an official of the Imperial Bank of India, on 14th Sept. 1929 in memory of his deceased brother Shri.M.S.Patel. The Society was then named "M.S.Patel Co-op. Credit Society Ltd. Bombay". It operated from the Indian Staff Association Room in the Imperial Bank of India Building at Elphinstone Circle, Fort, Bombay (Horniman Circle, Mumbai).

The Society started with a humble beginning of 30 members. It initially catered to the needs of staff members in the premises. From 1935-36 the Society gradually extended its area of operation. Several branches of the then Bombay Circle came under its purview. The Society further extended its services to non-staff members. Deposits were accepted from non- members in an attempt to bolster the Society's resources and cater to as many loan applicants as possible. As per the rules then in force, any co-operative credit society with a paid-up share capital of Rs.1,00,000/- or above, accepting deposits from non-members automatically came under the control of the Reserve Bank of India. It became necessary to change its name from "Co-op. Society" to "Co-op. Bank". The name of M.S.Patel Co-operative Credit Society was therefore changed to "M.S.Patel Co-operative Bank Ltd." in the 37th Annual General Meeting held on 31st January 1967.

Established in 1929

Completing 90 years in service of State Bank Employees

Loans and Advances

Loan up to Rs.25 Lakhs

Member and Social Welfare

Members Insurance (up to 2 Lakhs), Loan Insurance, Felicitation of Wards of members, Sports and Cultural Activities.

Holiday Homes

Alibag, Malvan, Madgaon, Mahabaleshwar

Mumbai - Wadala, Nerul

Schemes

Apart from Loan the Society offers various welfare schemes for its members and also extends its helping hand to non members as a part of its Social Responsibility

Loans and Advances

Members are eligible for loans six months after enrolling as members. The ceiling for Term Loan dn Housing Loans are Rs.20 Lakhs and Rs.25 Lakhs respectively. The Repayment periods are 180 months and 240 months respectively. Interest is charged on Daily Products Reducing Balance. Every loan application is processed independtly on the basis of the laid down criteria. Minimum documentation is inisted upon.

Members Retirement Benefit Scheme (M.R.B.S)

Monthly subscription amount is Rs.150, Rs.200 and Rs.250 for Sub-staff, Award Staff and Supervising Staff respectively. Balance to their credit is paid back with interest to members at time of their retirement. Upto 90% of the balance in the members account is available as loan at interest rate 1% more than the deposit rate of MRBS.

Family Gratuity Deposit Scheme (F.G.D.S)

Introduced in year 1978 the objective of the scheme is to provide financial assistance to the family of a member after his untimely death. Minimum amount of Rs.10,000/- and Maximum Rs.2,00,000/- is paid to the nominee of deceased member depending on the subscription amount and number of installments received. Upon retirement full amount is returned with interest at saving rate.

MARMEM

lllness to self or family members causes not only physical and mental stress but also puts strain on finances. This scheme was introduced in 1994 with the objective of bridging the gap between the actual expenses incurred and the amount reimbursed by the Bank. The Society also provides financial assistance to the extent of Rs.3,000/- p.m. (for a maximum of 4 months during a year) in case of loss of pay due to medical reason.

Kutumb Sneha Scheme

Introduced in year 1996 as a relief measure to offer immediate help to the family of member in the event of his untimely death. Presently financial assistance of Rs.60,000/- is provided in form of 12 monthly fixed payment of Rs.5,000/- to nominee of deceased member. Upon retirement full amount is returned with interest at saving rate. The aggregate disbursement till date under this scheme is Rs.6.5 crores.

Honouring the Achievers

Members' wards who excel in 10th Std. and 12th Std. examinations as well as in 5th & 8th Std. scholarship examinations are honoured every year in a special event organised by the Society called Vidyarthi Gungaurav, wherein the wards are given encourgaement through public felicitations and prize money. The aggregate disbursements under the scheme, till date are Rs.1.03 crore.

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Holiday Homes

Board of Directors

Jagdish Shringarpure

President

Jagdish Shringarpure
President

Satish Madhusudan Rane

Vice President

Satish Madhusudan Rane
Vice President

Mukesh Dayaldas Bhatia

Hon.Secretary & CEO

Mukesh Dayaldas Bhatia
Hon.Secretary & CEO

Mahendra Nandkumar Vaidya

Treasurer

Mahendra Nandkumar Vaidya
Treasurer

Manohar B. Devrukhkar

Manohar B. Devrukhkar
LHO Mumbai Metro

Jaydeep S. Gode

Jaydeep S. Gode
O.A.D C.B.D Belapur

Sanjay G. Shinde

Sanjay G. Shinde
Corporate Center, Nariman Point

Snehankita S. Lade

Snehankita S. Lade
C.C.P.C Mumbai

Suresh S. Walekar

Suresh S. Walekar
Ambernath Branch

Tukaram V. Narvekar

Tukaram V. Narvekar
Overseas Branch

Vanita S. Kachare

Vanita S. Kachare
Mumbai Main Branch

Vishwanath S. Salian

Vishwanath S. Salian
L.C.P.C Andheri East

Arun A. Joshi

Arun A. Joshi

Director - Aurangabad-I
R.B.O I Aurangabad

Vijayalaxmi R. Iyer

Vijayalaxmi R. Iyer

Director - Aurangabad-II
R.B.O II Aurangabad

Santosh S. Reelkar

Santosh S. Reelkar

Director - Ratnagiri-Sindhudurg
Chiplun Branch

Suhas K. Shetkar

Suhas K. Shetkar

Director - Goa / Other States
Khandepar Branch

Prateek R. Katarpawar

Prateek R. Katarpawar

Director - Nagpur-I
Nagpur Zone II

Mangesh N. Duble

Mangesh N. Duble

Director - Nagpur-II
C.A.C Amravati

Shaikh Iqbal Abdul

Shaikh Iqbal Abdul

Director - Pune-I
Pune Zonal Office I

Suresh Y. Chindarkar

Suresh Y. Chindarkar

Director - Pune-II
Kolhapur Treasury

Shivprasad P. Bhamare

Shivprasad P. Bhamare

Director - Nasik
Nasik Main Branch

Atmaram D. Kondaskar

Atmaram D. Kondaskar

Co-opted Director
Elphistone Road Br. Mumbai

Sanjay A. Puro

Sanjay A. Puro

Co-opted Director
C.A.G Branch Mumbai

Contact us


Mumbai Head Office
State Bank Of India,
Mumbai Main Branch Building,
3rd Floor, Near Horniman Circle,
Mumbai Samachar Marg, Fort,
Mumbai 400 023

Tel: (022) 22661780 / 22664360
email: info@sbimspatel.com


Aurangabad
Shri Pratibha Sankul,
Flat No 03, Plot No 155 , N-5 South,
Opp Sbi Administrative Office,CIDCO
Aurangabad 431 003

Tel: (0240) 2482070


Kankavli
Manoharshilp, UG-10, B-wing,
Upper Ground Floor,
Near Janavli Bridge,
Mumbai-Goa Highway, Kankavli,
Dist-Sindhudurg 416602

Tel: (02367) 232011


Nagpur
206, Girish Heights,
Near Bharat Talkies, Sadar,
Kamptee Road,
Nagpur 440 001

Tel: (0712) 2531299


Pune
"SNEHA NIRZAR", Sky Horizon, Market Yard,
Gultekdi,
Pune 410 037

Tel: 020-24266677