Maharashtra Chief Minister Devendra Fadnavis attended the Silver Jubilee celebrations of the Nagpur-based Wardhaman Urban Co-operative Bank last Saturday, highlighting its commendable contribution to the cooperative banking sector and the state’s economic development.
Despite the dominance of commercial and national banks, Wardhaman Urban Co-operative Bank has stood out by consistently delivering a 15% dividend, a remarkable feat in the cooperative banking space. CM Fadnavis praised the bank’s dedication to ethical, transparent, and efficient operations over the past 25 years.
He noted the unique personal connection he shares with the bank, stating, “The year Wardhaman Bank was founded is the same year I was elected to the Maharashtra Assembly from the Nagpur constituency.” He further explained that the bank’s name, Wardhaman, symbolizes growth, which is reflected in its outstanding track record and deep community engagement.
“The bank has played a pivotal role in supporting new entrepreneurs by offering timely financial assistance, which has not only helped establish businesses but also contributed to the broader economic fabric of the nation,” the Chief Minister said.
He emphasized the need for visionary and adaptive thinking in financial institutions like Wardhaman Bank, especially as India moves towards becoming a $9 trillion economy by 2035 under the leadership of Prime Minister Narendra Modi.
Referring to the bank’s financial performance, he remarked, “Except for the COVID period, the bank has consistently declared a 15% dividend, setting a benchmark in cooperative banking.”
Minister of State Dr. Pankaj Bhoyar, former MP Ajay Sancheti, former MLA Sagar Meghe, Ujjwal Pagariya (Chairman of Pagariya Group), and Anil Parakh (Chairman of Wardhaman Bank), along with other dignitaries, were present at the celebratory event.
Wardhaman Urban Co-operative Bank currently has an overall business mix of approximately Rs 360 crore and recorded a net profit of Rs 5 crore in the financial year 2024–25.
