Rajarambapu Sahkari Bank – Bridging the Gap Between Tradition and Technology

Founded on 11th Nov 1981 in a remote village in Peth, Sangli District, Rajarambapu Sahkari Bank has grown to include 46 branches and 10 ATMs. The bank has a training center for imparting training to its employees. The bank is renowned for its people, boasting highly experienced and qualified employees with an average tenure of 10-15 years.

Customer Growth:

As of 31st March 2023, the bank had 164,050 customers. Targeting further growth, they aim to add 10,000 customers by 31st March 2024, initiating digital and social media marketing campaigns and also WhatsApp banking facility.

IT Initiatives:

The bank has embraced modern technologies, implementing various services and products. Notably, they’ve adopted the CBS TCS BaNCS Application, a leading application in the banking sector. They maintain their data center and a disaster recovery site, managed by a skilled IT team. The bank offers a digital technology platform covering ATM, E-commerce, POS, BBPS, CDM, PBK KIOS, IMPS, RTGS, NEFT, Positive Pay, Mobile banking, and UPI. To ensure security, they utilize SOC solutions. The main important thing is that the bank has introduced WhatsApp banking services, facilitating easier and more convenient access for customers. The dedicated WhatsApp banking number is saved as 9860600433. Customers can send a ‘Menu’ message to this number via the WhatsApp application for information and services. Additionally, the bank provides Missed Call Alert Balance Inquiry, which can be accessed by giving a missed call to the same number, 9860600433.

Business Prospects:

The bank has shown promising business prospects, with total deposits reaching Rs. 2,270.76 crore and loan sanctions at Rs. 1,527.84 crore as of 31st March 2023. The total business volume stands at Rs. 3,798.61 crore, resulting in a net profit of Rs. 14.16 crore.

Agriculture Support:

Rajarambapu Sahkari Bank actively supports the agriculture sector. They assist hundreds of farmers through their 46 branches, offering a range of products such as Agri Farm Loan, Agriculture Development Loan, and Machinery loans for agriculture activities. These funds can be used to acquire various equipment for agricultural purposes, including harvesters, tractors, and drip irrigation systems. Moreover, credit is extended for activities related to dairy, poultry, fisheries, and against warehouse receipts.

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