Trust Us with Your Financial Needs
Arihant Bank is committed to providing customers with the highest levels of trust, honesty, and customer support. We strive to offer our customers the best products and services to ensure their financial well-being. Our knowledgeable and experienced team of professionals is dedicated to providing exceptional customer service and delivering personalized solutions that meet your needs
- Shri Arihant Co-op Bank Ltd was founded by the Kutchi Dasa Oswal Jain Community for the financial benefits of its members and the public. In 1980, during a convention in Hubli, Karnataka, the community decided to establish a co-operative bank. Shri Laxmichand Ratani, Shri Virchand Munver, and Shri Pravin Khona were appointed Chief Promoters for the bank. A meeting was held in Mumbai to present and explain the bank’s formation plan, and the three promoters were unanimously appointed. An application was submitted to the Registrar of Co-operative Societies for bank registration. The Reserve Bank of India, the Registrar of Co-op Societies, and the Maharashtra State Co-operative Bank oversaw the promotion of co-operative banks. Requirements for permission included enrolling a minimum of 2,500 members and a share capital of Rs 5.00 lacs. Enthusiastic individuals approached people door-to-door to enroll members and collect capital. After collecting a share capital of Rs 5.25 lacs and enrolling over 2,500 members, the bank’s registration application was submitted. The RBI changed the bank’s formation norms, limiting the operational area to S and T wards and reducing membership to 2,000 and share capital to Rs 4.50 lacs. About 81 individuals residing outside the designated area were delisted and received a refund for their share application money.The bank was registered on January 25, 1984, after significant efforts and hard work.
Trust Us with Your Financial Needs
History
- The Beginning of the Journey :
Shri Arihant Co-op Bank Ltd was founded by the Kutchi Dasa Oswal Jain Community for the financial benefits of its members and the public. In 1980, during a convention in Hubli, Karnataka, the community decided to establish a co-operative bank. Shri Laxmichand Ratani, Shri Virchand Munver, and Shri Pravin Khona were appointed Chief Promoters for the bank.
With 2000 members and a share capital of 250,000 INR, Arihant Bank was registered on January 25, 1984 and commenced its operations in S and T wards of Mumbai on May 17 of the same year. Shri Pravin D Khona, the founder, was named the Bank’s first chairman and Shri Dhanji B Bheda were appointed Vice Chairman.
The First Annual General Meeting of the bank was held on 9th November, 1985 when election was conducted for term of 5 years of the Board of Directors. Shri Pravin D Khona, Shri Dhanji B Bheda, Shri Dhanpati B Nagda, Shri Rajendra M Khona, Shri Kishor K Khona, Shri Niranjan K Momaya, Shri Narendra V Dharamshi, Shri Premchand M Sonawala, Shri Tarachand D Dharamshi and Shri Damji Jivraj Shah. For two reserved seats Shri Mahesh Barot and Shri Vijay N Chheda were appointed.
Since its incorporation, the Bank’s legacy has been to act as an active and leading partner in the socio-economic development of the region.
- Arihant Bank Today :
Today, Arihant Bank has 11 branches networks spanning Mumbai and adjoining districts. The bank’s paid up capital is INR 8.41 Crore.
- Statutory Meeting:
The statutory requirement was fulfilled with a meeting of members held on March 3, 1984, within one month of society registration. A provisional Board of Directors consisting of 12 members was appointed for a period of 2 years. The appointed directors were:
Shri Pravin D Khona and Shri Dhanji Bheda were appointed Chairman and Vice Chairman respectively
- Shri Pravin D Khona
- Shri Thakershi Meghji Goshar
- Shri Dhanji B Bheda
- Shri Rajendra M Khona
- Shri Dhanpati B Nagda
- Shri Shantilal J Khona
- Shri Premchand M Sonawala
- Shri Niranjan K Momaya
- Shri Khimji K Shah
- Shri Khetshi D Dand
- Shri Mahendra S Nagda
- Shri Navin Jain.
Shri Pravin D Khona and Shri Dhanji Bheda were appointed Chairman and Vice Chairman respectively
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Community
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Commitment
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Consistency
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Mission
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Values
Core Value
Our Values
Trust
Our guiding principle is integrity and open and honest communication. True to our history, we will always protect the interest of our customers.
Commitment
We are fully committed to the business region, dedicated to the people and economies.
Citizenship
We are active corporate citizens, fostering the growth and advancement of our communities.
Service Excellence
We strive to deliver best service and a great customer experience.
Customer Focus
Our customers come first and everything is centred around their needs.
Empowerment
We invest in our people and provide them with the opportunity to grow.
Teamwork
We promote teamwork and collaboration within the Group and across Businesses.
Transparency
We value open and clear communications, earning us confidence and trust from our customers, shareholders and employees.
Innovation
We embrace innovation as an integral part of our mindset.
Our Branches
86 Branches across the country
Customers
More than 1.5 million customers
Deposit Dispersed
1.6k professional employees
Total business
45.6 Cr loans for 258 customers