The Chief Financial Officer of SVC Bank, Saket Maheshwari, has been honoured with the Best CFO Award for Excellence in Corporate Governance at the ET CFO Awards 2026. The recognition highlights the bank’s strong governance framework, commitment to transparency and adherence to best practices in financial management and regulatory compliance.
Organised under the banner of The Economic Times, the ET CFO platform recognises outstanding leadership in financial management across industries. The awards celebrate finance leaders and institutions that demonstrate high standards of governance, risk management and strategic financial stewardship.
The awards ceremony brought together senior finance professionals, policymakers and industry experts from across the country. On stage during the award presentation were Amol Dethe, Maheshwari and Kewal Handa and former Non-Executive Director of Union Bank of India.
Receiving the honour underscores SVC Bank’s continued emphasis on strong corporate governance practices and responsible financial management. Bank officials said the recognition reflects sustained efforts to align governance structures with evolving regulatory expectations while maintaining the confidence of stakeholders.
Founded in 1906, SVC Bank, earlier known as The Shamrao Vithal Co-operative Bank Ltd, is one of the oldest and most recognised institutions in India’s cooperative banking sector. As the bank approaches its 120th year of operations, it continues to focus on institutional resilience, regulatory discipline and sustainable growth while upholding the cooperative values that have defined its legacy for more than a century.
Headquartered in Mumbai, SVC Bank operates as a multi-state scheduled cooperative bank with a presence across ten states and one Union Territory including Maharashtra, Karnataka, Goa, Gujarat, Rajasthan, Delhi, Haryana, Madhya Pradesh, Andhra Pradesh, Telangana and Tamil Nadu. The bank has built a wide network of 203 branches and 220 ATMs and employs more than 2,400 staff members.
Financially, the institution has maintained strong performance indicators. As of March 31, 2025, the bank’s total business stood at Rs 39,353 crore, while net profit rose by 10.52 percent to reach Rs 241 crore. Asset quality has also improved, with gross NPAs declining to 1.96 percent and net NPAs falling to 0.25 percent. The bank’s Provisioning Coverage Ratio has reached 87.54 percent, reflecting strengthened risk management and prudent financial practices.
In recent years, the bank has received several industry recognitions for innovation and operational excellence. At the IBA Annual Banking Technology Conference, Expo and Citations 2024-25, SVC Bank received awards for Best Fintech and DPI Adoption and Best Tech Talent in the cooperative sector category, along with a Special Mention for Best Technology Bank.
Other recognitions include the Leader Award at the 9th All India UCB Summit and Awards 2025, the Best HR Transformation and Best Audit Transformation Awards at the FCBA Awards 2025 and the Banco Blue Ribbon Award 2024 for excellence among urban cooperative banks. The latest honour for Maheshwari further strengthens SVC Bank’s reputation as a well-governed and forward-looking institution within India’s cooperative banking sector.
