The Nav Jeevan Co.op. Bank Ltd. – Ulhasnagar established in the year 1985 a household in the Banking needs of Ulhasnagar City, also popularly known for its Customer Centric and Customer Friendly approach, completed 26 years of its inception has become a powerful force in the Commercial, Economic and Social life in the city of Ulhasnagar and its surroundings.
A small and humble beginning made by the Founder & present Chairman Shri. Sitaldas K. Harchandani (Ex-MLA), has grown into a very popular co.-operative Bank in Ulhasnagar with 8 Branches – 7 Branches in all sections of Ulhasnagar City and one Branch at Kopri Colony, Thane (East).
The Bank has come into existence with the purpose and mission for the Ulhasnagar and its people as visualized by the Founder Shri. Sitaldas K. Harchandani, popularly call as “Dadaji”. At the time of partition, the Sindhi Community in Pakistan had to sacrifice a lot and leave their native – Sindh (Pakistan) and come to India bare-handed, leaving all their belongings in the erstwhile Sindh. After coming to India the community was scattered all over the country, but the major portion if the community concentrated in Ulhasnagar, living as refugees, where they were provided with tents as a shelter and later shifted to military camps. They had nothing of their own or any financial support from the government to start any activity to meet the minimum subsistence. The young “Dadaji” himself was 15 years old when he first set foot in the soil of Ulhasnagar along with other refugees migrated from Pakistan and nobody could have realized the pain, agony of partition and separation, better than him.
At a time i.e. during 2000-2001 onwards when the Co-operative banking system in India was passing through a difficult phase. The Nav Jeevan Co.-op. Bank Ltd. had a major transformation in its Business and Personality profile. With the induction of personnel at the middle and senior management level from nationalized banks sector, the Bank has been put up on fast track. From a Co.-op. Bank with business of Rs. 100 Crores in 2000-01 it has grown to Rs.850 Crores + Business.
Till 2002, there were no Pvt. sector Banks in Ulhasnagar and the Nav Jeevan Bank & Nationalized Bank were catering to the Banking needs of the household and Business communities, After 2003, almost all Pvt. Sector like ICICI, HDFC, Axis Bank, IDBI, etc. with the latest infrastructure entered the city of Ulhasnagar. There was a Question Mark & apprehension as to how The Nav Jeevan – a local community based Bank is going to survive the competition. With the vast reach of the Bank in all corners at grass root level and with the technical savvy and infrastructure if new generation banks, both are able to support and supplement the efforts of each other in meeting the ever growing banking requirements of the town. These new generation private sector banks operating in the neighborhood were looked upon not as competitors but as co-partners for the development and meeting the banking needs of people of Ulhasnagar.
The Growth of the Bank is illustrated as under: (Rs. in Lacs)
|Capital & Reserves||2967.03||4702.28||7911.31||9559.00||9853|
The ultimate success of Banking operations depends upon the effective NPA management exercise, control and recovery of existing as well as potential NPAs and overdues. A lot of efforts are being made at all levels to ensure better assessment of Loan proposals, regular monitoring & follow-up of borrowal accounts, timely action in case of default and recovery action to bring the NPA level to its minimum & Net NPA to 0%.