Contribution of Shree Warana Co-operative Bank in Economic Development

Sahakar Maharshi Late. Tatyasaheb Kore established Shree Warana Co-operative Bank in the year 1966. In the early days, the area of operations of Shree Warana Co-operative Bank was limited to Warana Valley. But currently more than forty branches of Warana Co-operative Bank are functioning across the Maharashtra State so the area of operation of Warana Co-operative Bank is very wide. Also, by expanding its branches, the bank has increased the number of member to a great extent. Saving has been collected on a large scale by encouraging saving. Along with this, this bank has achieved great success in lending and investing. That is why the contribution of Shree Warana Co-operative Bank in economic development is huge. In the financial year 2020-21, the total number of members of Warana Co-operative Bank in A and B category was 27853. Then it increased to 32115 in financial year 2022-23. Also in the financial year 2020-21, the bank was collected total deposits of current, saving and fixed deposits of Rs. 938.54 crores. While in the financial year 2022-23, deposits have collected up to 948.06 crores. Along with this, Warana Bank’s short, medium and long term total was Rs. 598.86 crores in 2020-21 and it was Rs. 584..91 crore in 2022-23. Warana Bank has invested a total of Rs. 348.04 crore and Rs. 346.65 crore in various sectors in FY 2020-21 and 2022-23 respectively. Warana Co-operative Bank has learned a profit of Rs. 4.78 crores in 2022-23 as a bank business. Warana Co-operative Bank hasmade good progress in business as on 31 st March 2023 the total business of the bank is more than Rs. 1532.11 crores.