The Reserve Bank of India (RBI) has approved the appointment of Navneet Bhandari as the Managing Director of Latur Urban Co-operative Bank Ltd., one of Maharashtra’s leading urban co-operative banks.
It is said that at just 35, Bhandari is among the youngest MDs of an Urban Co-operative Bank in India. Bhandari, who joined the Latur Urban Cooperative Bank as a branch manager in 2014, was promoted to assistant general manager after five years of service, and has continued to rise in the bank’s ranks since then.
Headquartered in Latur, the bank operates 21 branches across 12 districts of Maharashtra, with a total business mix of Rs 1,307 crore as of March 31, 2025, and a net profit of Rs 15.05 crore.
Established in 1995 by visionary co-operative leader Pradip Rathi, the bank was founded with the mission of fostering financial inclusion and empowering communities through accessible banking services. The appointment signifies a generational leadership shift, with the bank’s current Chairman, Akash Rathi, also counted among the youngest in the sector, bringing a youthful and progressive vision to governance.
Expressing gratitude to the Board, shareholders, and customers, Bhandari said he was committed to “strengthening the bank’s financial performance, expanding digital services, and deepening customer relationships while upholding the values of the co-operative movement.”
Over the years, Latur Urban Co-operative Bank has steadily expanded its reach, introduced innovative products, and maintained strong ties with the urban and semi-urban communities it serves.
