Hyderabad: Mahesh Bank – a torch bearer in initiating customer centric innovative banking reforms and digitization in the cooperative banking sector – has launched its plush Corporate office at the posh Banjara Hills. Chief Guest Sri Om Birla, Hon’ble Speaker of Lok Sabha; inaugurated the facility on Wednesday. Guests of Honour, Sri Bandaru Dattatreya, Hon’ble Governor of Himachal Pradesh; Sri G. Kishan Reddy, Hon’ble Minister of State for Home Affairs, Govt. of India; Sri Mohd. Mahmood Ali, Hon’ble Minister for Home, Prisons & Fire Services, Govt. of Telangana; Sri S. Niranjan Reddy, Hon’ble Minister for Agriculture & Co-operation, Govt. of Telangana and Sri Subrata Das, Regional Director – AP & Telangana, RBI, Hyderabad; graced the momentous occasion. Also present were Sri Purshotamdas Mandhana, Chairman, Mahesh Bank; Sri Ramesh Kumar Bung, Chairman Emeritus; Sri Rampal Attal, Vice-Chairman; Sri Umesh Chand Asawa, Managing Director & CEO, Mahesh Bank, amongst others.
Sri Om Birla, speaking on the occasion Congratulated the visionary founders of the Mahesh Bank for this bank’s success story, which enabled the bank from a humble beginning in a small way in 1978 to become a mammoth establishment, as a multi state cooperative bank with operations in 4 states. It helped the poorest of the people in the society by giving loan and enabled them prosper. It also has the distinction of zero NPAs. The Bank gave dividend every year since its inception. The Cooperative movement works in strengthening the country’s economy. Cooperative movement has been flourishing in this country since time immemorial even before independence, right from the era of kings. Cooperative movement helps the poorest of the poor to obtain loans and enables them to survive and grow. There could be different opinions about Cooperative movement, but I feel that it has made significant difference to this country’s economic progress. It was these cooperative societies which transformed the lives of the weaker sections of the society. They have made a difference to each of the states and impacted positively every sector. It made people self reliant by giving loans to farmers, fishermen, live stock farmers, small time businessmen, tradesmen etc. In several instances they give loans at zero percent interest, to small land holding farmers and enable them to economically prosper. In Gujarat the Milk producers cooperative , in Maharashtra the sugar cane farmers cooperative have shown what difference they can make. Crores of women in remotest of the villages across the country benefitted through Cooperative societies. These Cooperative societies gave impetus to the country economy. They gave relief to poor people from money lenders, prevented they becoming slaves to such lenders who used to charge high interest and made people into paupers. In a village I visited, uneducated women grew economically by forming self help groups and establishing different businesses under that umbrella, today each of them earns Rs 40000 to 50000 per month. Several crores of people benefited by establishing businesses or generating employment for several more. The Cooperative works on confidence and trust. Though there were some fraudulent incidents in this sector too, but the image of the entire sector can’t be tarnished for few such incidents.
Sri Subrata Das said, it’s a memorable day for the cooperative banking sector and Mahesh Bank’s track record should enable it to reach dizzy heights in the years to come. Urban Cooperative Banks play a critical role in meeting the needs of the common man. There are in all 97 Urban Cooperative Banks in AP and Telangana, of which 51 are in Telangana alone. Mahesh Bank plays a stellar in this sector amongst all the Urban Cooperative Banks, It alone does 30% of the total business done by these banks in Telangana state and several Urban cooperative banks here are dependent on Mahesh cooperative bank. Urban cooperative banks are going through the phase of consolidation.
Sri Bandaru Dattatreya, said, Mahesh bank is a role model in the banking sector, this was possible because of the exemplary initiatives they have taken. India is implementing economic reforms essential to survive in today’s world and the significant part of these reforms is the inclusive growth it is laying emphasis on. All this will change the face of India in the years to come. Today we are already the fastest growing economy in the world. I wish Mahesh Bank to achieve many more milestones in its journey ahead.
Sri G. Kishan Reddy, said, the commended the stellar role of Mahesh cooperative Bank in the state’s growth. All initiatives of Mahesh Bank were customer centric and therefore won their hearts and minds and progressed well to be the best cooperative bank. The Government of India is taking several innovative economic initiatives in the last two months to overcome the economic slowdown the world is facing. These have enabled our economy to do well despite every other economy being impacted by the slowdown. All these initiatives enabled to mitigate the hardship common man would have faced. Several global investors are seeing the potential in India and are contemplating investing in India instead of China or other countries. The recent reduction of Corporate tax by unprecedented 10% only made investing more attractive.
Sri Mohd. Mahmood Ali, while appreciating the role of Mahesh Bank in the economic growth of Telangana said, Cooperative Banks transformed the state into an economic powerhouse. Mahesh Bank in fact has the reputation of disbursing loans faster than even the Nationalised Banks. Telangana state has made significant progress since its formation and is today counted amongst the most progressive states in the country.
Mahesh Bank – the over four decade old Hyderabad based leading Cooperative Bank in the Country, has notched up a turnover of Rs 4000 crs., in the previous financial year and is all set to cross Rs 4300 crs, mark in the current financial year. The Bank always competed with the leading nationalized and private banks in providing amenities and customer care on par with the best in the business. In the Cooperative Banking Sector it created revolution by being several rungs ahead of others in initiating customer centric banking reforms, digitization and innumerable proactive endeavors, which are industry benchmarks in the sector, today. This enabled Mahesh bank to retain loyalty of its customers and win new business over the years.
Sri S. Niranjan Reddy said, Mahesh Bank has a commendable track record.
Mahesh Bank has successfully waded the best and the worst financial phases the country went through and remained solidly robust. This was possible because as an institution we were scrupulous in business practices and imbibed a customer focused culture. This strong foundation will enable the bank to gain impetus to be counted amongst the best Banking institution in the country, says Sri Purshotamdas Mandhana, Chairman of the Bank. It is a proud moment for all of us that Telangana State has its unique identity not only in our Country but also in the World map for its heritage and culture. You appreciate that an Urban Co-operative Bank of our State has its existence with its own multi-storied Head Office building with about 82000 sft with 2 level parking area and 57000 sft of work place, in the prime location of Hyderabad will certainly be another landmark for Telangana and also occupy ROLE MODEL in the entire Co-operative Banking Sector of South India. All Branches of Mahesh Bank, 45 for the present with a business turnover of more than Rs.4000 crores covering 4 States – Telangana, Andhra Pradesh, Rajasthan and Maharashtra, were modernized with the present-day technological up-gradation to improve the efficiency and meet the customers’ convenience and also banks business needs. Mahesh Bank always finds ways to remain relevant and differentiated in the hearts of our customers. We at Mahesh Bank had always endeavored to bring wide range of best-in-class offerings through our branches, alternate channels such as ATMs, e-lounges and electronic platforms – net banking, mobile banking, BBPS,BHIM Mahesh Pay, RuPay Debit Card facility besides offering bancassurance solutions and mutual fund etc. We continue to thrive on the challenges of providing the best products and Services.
Sri Purshotamdas Mandhana, said, it is an admitted fact that in today’s dynamic technologically changing environment in the financial sector, organizations need to adapt to changing business needs by changing the approach with required skills with greater agility to enable to achieve the targeted business goals. We aspire to build upon our core strengths to forge deeper and more meaningful relationship with our client base. Even in the toughest of times, we remain committed to putting the clientele first and being committed to our “Customer First” philosophy. With a smile on our face and pride in our hearts, we have become the flag-bearer of warm hospitality and occupied a prominent place in the hearts of our customers, share holders and well wishers. We believe that all the shareholders, customers need to take a proactive role in shaping the way banks operate in the future, rather than continuing along the well-trodden path, no matter how well that path had previously served them. Then only, the desired results we can expect for the mutual development. Since inception, Mahesh Bank has many first to its credit and every year the bank is being bagged with Awards for several achievements. This year, recently, honoured with “Best Chairman” Award for achieving targets, growth and formulating policies over the last 3 years and “Best Infrastructure Plan” Award among the large co-operative banks in the country by Banking Frontiers, Mumbai. I dedicate these awards to all the staff at Mahesh Bank, as only because of their contribution and handwork, these recognition was possible. Our founders’ pioneering spirit, passion for developing and proactive contribution to the bank is what makes us who we are today. As we strive to grow from strength to strength, we will try to ensure a satisfying banking experience to all our customers. It is equally critical in these days of technologically advanced ruling in the sector, to retain the existing clientele but I am proud to say that Mahesh Bank with its dedicated team of my colleagues on the Board with multi-dimensional capabilities and strong commitment to continue to retain the clientele with the Bank besides tapping new base. I convey my gratitude for their kind support. It has been our continuous endeavor to make Mahesh Bank to be the leader of co-operatives not only in the State of Telangana but also in the Southern States of the Country. Let us continue to think BIG and achieve further more heights in the journey of Mahesh Bank.
Today, Mahesh Bank celebrates the immaculately built reputation and trust, by unveiling a state-of-the-art Corporate office at Hyderabad’s commercial nerve center, Banjara Hills. This 84000 sft., space in all, will house ultra-modern facilities to service the ever rising expectations of its discerning customers. Mahesh Bank currently has operations in four states in the country, Telangana, Andhra Pradesh, Maharashtra and Rajasthan and is all set to make its foray into the fifth state, Gujarat shortly. It has 45 branches with 38 in the home state, Telangana; 4 in Andhra Pradesh at Vijayawada, Visakhapatnam, Guntur and Rajahmundry; 2 in Rajasthan at Jaipur and Bhilwara and one branch in Mumbai. The Bank employs over 650 staff at all levels across the country and will ramp up the count as per the growing future needs.