Sree Narayana Guru Co-op. Bank Ltd, promoted by Malayalees in Mumbai was established in the year 2002. It is the one and only Bank in the name of Sree Narayana Guru who was a philosopher, spiritual leader and social reformer in India. The Bank came into existence in Feb-2002 when the Reserve Bank of India granted license to open a branch at Chembur, Mumbai. The Bank is registered under the Maharashtra Co-op. Society Act 1960 and it is popularly known as SNGC Bank.
The Bank started its business operation on 2nd June 2002. It has been steadily growing both horizontally and vertically. At present, the area of operation of the Bank is spread over in Mumbai and Thane districts. The Bank has now over Rs.5.88 crs Share Capital with 5080 shareholders of which 90% are Malayalees. It has now 6 branches, one each at Chembur, Bhandup (W), Mulund (W) and Nerul,koparkhairane,CBD Belapur.
The Bank has already crossed the business mix of Rs. 120 crs and the Bank is expecting to touch Rs. 200 crs in 2025. The Bank is operating on sound financial parameters and also strictly adhering to the RBI guidelines and regulations. The Bank is managed by a professional team of Officers and experienced staff under the overall supervision, guidance and control of a dedicated team of Board of Directors led by a Chairman. The Bank has been earning profit right from the very first year.
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Bank Charges for various serices
Monday to Saturday: 09:30AM - 05:30PM
Monday to Saturday: 09:30AM - 05:30PM
The essential information that the remitting customer has to furnish is:
1. Beneficiary details such as beneficiary name and account number.
2. Name and IFSC of the beneficiary bank branch.
National Electronic Funds Transfer (NEFT) system is a nation wide funds transfer system to facilitate transfer of funds from any bank branch to any other bank branch. The system uses the concept of centralised accounting system and the bank's account, that are sending or receiving the funds transfer instructions, gets operated at one centre.
The acronym "RTGS" stands for Real Time Gross Settlement. RTGS system is a funds transfer mechanism where transfer of money takes place from one bank to another on a "real time" and on "gross" basis. This is the fastest possible money transfer system through the banking channel. Settlement in "real time" means payment transaction is not subjected to any waiting period. The transactions are settled as soon as they are processed. "Gross settlement" means the transaction is settled on one to one basis without bunching with any other transaction. Considering that money transfer takes place in the books of the Reserve Bank of India, the payment is taken as final and irrevocable.
Chembur (West): SVCB0020002
Bhandup (West): SVCB0020003
Mulund (West): SVCB0020004
Nerul: SVCB0020005
Koparkhairne: SVCB0020006
Belapur CBD: SVCB0020007
Chembur (West):
Bhandup (West):
Mulund (West):
Nerul:
Koparkhairne:
Belapur CBD: