SVC Co-operative Bank, a financial institution with a distinguished legacy spanning 118 years, has been conferred with the prestigious Banco Blue Ribbon 2024 Award. This esteemed recognition underscores the Bank’s relentless dedication, unwavering hard work, and steadfast commitment to excellence in the co-operative banking sector.
The Banco Blue Ribbon 2024 Award acknowledges SVC Bank’s remarkable performance in the Urban Co-Operative Bank category for institutions with deposits exceeding INR 15,000 Crore. The award was received by R. Janakiraman, Chief General Manager – Treasury, on behalf of SVC Bank.
It was presented by Bhargeshwar Banerji, Former Chief General Manager of the Reserve Bank of India (RBI). This distinguished honour reaffirms the Bank’s leadership in the co-operative banking industry and reinforces its commitment to providing superior financial services to its customers, states the UCB in a press release.
Expressing his gratitude for this significant achievement, Ravinder Singh, Managing Director of SVC Co-operative Bank Ltd., stated, “We are deeply honored to receive the Banco Blue Ribbon 2024 Award. This recognition is a testament to the dedication, diligence, and unwavering commitment of our entire team at SVC Bank.”
It strengthens our faith in the transformative potential of co-operative banking and inspires us to persist in delivering exceptional value to our customers. I extend my sincere appreciation to our stakeholders, customers, and employees for their continued trust and support, he added.
The award was presented during the Advantage Annual Summit 2025, held from January 27 to 29, 2025, at Aamby Valley City, Lonavala. This summit, centered on pioneering banking technologies and systems, provided an invaluable platform for participants to engage with industry thought leaders and luminaries from the co-operative banking sector. SVC Bank’s board of directors and senior management were invited to the summit to receive the prestigious honour.
SVC Bank takes immense pride in this esteemed recognition, which underscores its leadership in the co-operative banking domain and highlights its unwavering commitment to its customers and communities. The Bank remains dedicated to upholding the core values of co-operative banking while continuously innovating and striving for excellence in financial services.
Established in 1906, SVC Bank is a 118-year-old institution that has played a pivotal role in India’s co-operative banking movement. As one of the oldest and most recognized Multi-State Scheduled Co-operative Banks, it operates across 11 states with 198 branches and 214 ATMs.
As of March 31, 2024, the Bank’s total business stands at Rs 35,159 Crores, with a 23.73% rise in net profit to Rs 218 Crores. It has strengthened its financial health, reducing Gross NPAs to 2.30% and Net NPAs to 0.27%, while maintaining a PCR of 88.48% and CRAR of 15.37%.
Recognized for its contributions, SVC Bank has received prestigious awards, including honours from Shri Amit Shah. It was also among the first co-operative banks to secure an Authorized Dealer Category I License for forex operations.
