About Us
The State Bank of India Employees' (M.S.Patel) Co-op. Credit Society Ltd. was established by Shri C.S.Patel, an official of the Imperial Bank of India, on 14th Sept. 1929 in memory of his deceased brother Shri.M.S.Patel. The Society was then named "M.S.Patel Co-op. Credit Society Ltd. Bombay". It operated from the Indian Staff Association Room in the Imperial Bank of India Building at Elphinstone Circle, Fort, Bombay (Horniman Circle, Mumbai).
The Society started with a humble beginning of 30 members. It initially catered to the needs of staff members in the premises. From 1935-36 the Society gradually extended its area of operation. Several branches of the then Bombay Circle came under its purview. The Society further extended its services to non-staff members. Deposits were accepted from non- members in an attempt to bolster the Society's resources and cater to as many loan applicants as possible. As per the rules then in force, any co-operative credit society with a paid-up share capital of Rs.1,00,000/- or above, accepting deposits from non-members automatically came under the control of the Reserve Bank of India. It became necessary to change its name from "Co-op. Society" to "Co-op. Bank". The name of M.S.Patel Co-operative Credit Society was therefore changed to "M.S.Patel Co-operative Bank Ltd." in the 37th Annual General Meeting held on 31st January 1967.
Established in 1929
Completing 90 years in service of State Bank Employees
Loans and Advances
Loan up to Rs.25 Lakhs
Member and Social Welfare
Members Insurance (up to 2 Lakhs), Loan Insurance, Felicitation of Wards of members, Sports and Cultural Activities.
Holiday Homes
Alibag, Malvan, Madgaon, Mahabaleshwar
Mumbai - Wadala, Nerul
Schemes
Apart for Loan the Society offers various welfare schemes for its members and also extends its helping hand to non members as a part of its Social Responsibility
Loans and Advances
Members are eligible for loans six months after enrolling as members. The ceiling for Term Loan and Housing Loans are Rs.25 Lakhs and Rs.30 Lakhs respectively. The Repayment periods are 180 months and 240 months respectively. Interest is charged on Daily Products Reducing Balance. Every loan application is processed independently on the basis of the laid down criteria. Minimum documentation is insisted upon.
Members Retirement Benefit Scheme (M.R.B.S)
Monthly subscription amount is Rs.150, Rs.200 and Rs.250 for Sub-staff, Award Staff and Supervising Staff respectively. Balance to their credit is paid back with interest to members at time of their retirement. Upto 90% of the balance in the members account is available as loan at interest rate 1% more than the deposit rate of MRBS.
Family Gratuity Deposit Scheme (F.G.D.S)
Introduced in year 1978 the objective of the scheme is to provide financial assistance to the family of a member after his untimely death. Minimum amount of Rs.10,000/- and Maximum Rs.2,00,000/- is paid to the nominee of deceased member depending on the subscription amount and number of installments received. Upon retirement full amount is returned with interest at saving rate.
MARMEM
Illness to self or family members causes not only physical and mental stress but also puts strain on finances. This scheme was introduced in 1994 with the objective of bridging the gap between the actual expenses incurred and the amount reimbursed by the Bank. The Society also provides financial assistance to the extent of Rs.3,000/- p.m. (for a maximum of 4 months during a year) in case of loss of pay due to medical reason.
Kutumb Sneha Scheme
Introduced in year 1996 as a relief measure to offer immediate help to the family of member in the event of his untimely death. Presently financial assistance of Rs.60,000/- is provided in form of 12 monthly fixed payment of Rs.5,000/- to nominee of deceased member. Upon retirement full amount is returned with interest at saving rate. The aggregate disbursement till date under this scheme is Rs.6.5 crores.
Honouring the Achievers
Members' wards who excel in 10th Std. and 12th Std. examinations as well as in 5th & 8th Std. scholarship examinations are honoured every year in a special event organised by the Society called Vidyarthi Gungaurav, wherein the wards are given encourgaement through public felicitations and prize money. The aggregate disbursements under the scheme, till date are Rs.1.03 crore.
Loans and Advances
Members are eligible for loans six months after enrolling as members. The ceiling for Term Loan and Housing Loans are Rs.25 Lakhs and Rs.30 Lakhs respectively. The Repayment periods are 180 months and 240 months respectively. Interest is charged on Daily Products Reducing Balance. Every loan application is processed independently on the basis of the laid down criteria. Minimum documentation is insisted upon.
Testimonials
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Board of Directors
Shivprasad Pandit Bhamare
PresidentShivprasad Pandit Bhamare
President
Suresh S. Walekar
Vice PresidentSuresh S. Walekar
Vice President
Mahendra Nandkumar Vaidya
Hon.Secretary & CEOMahendra Nandkumar Vaidya
Hon.Secretary & CEO
Snehankita S. Lade
TreasurerSnehankita S. Lade
Treasurer
Manohar B. Devrukhkar
Manohar B. Devrukhkar
LHO Mumbai Metro
Satish Madhusudan Rane
Satish Madhusudan Rane
Maharashtra Circle
Mukesh Dayaldas Bhatia
Mukesh Dayaldas Bhatia
C.C.P.C Mumbai
Jaydeep S. Gode
Jaydeep S. Gode
O.A.D C.B.D Belapur
Sanjay G. Shinde
Sanjay G. Shinde
Corporate Center, Nariman Point
Tukaram V. Narvekar
Tukaram V. Narvekar
Overseas Branch
Vanita S. Kachare
Vanita S. Kachare
Mumbai Main Branch
Sanjay S. Sharma
Sanjay S. Sharma
RBO-1 Ghatkopar
Vilas Gopal Bhojane
Vilas Gopal Bhojane
Administrative Office, South Mumbai
Bhaskar G. Vibhute
Bhaskar G. Vibhute
Director - Aurangabad-I
M.I.D.C Parbhani
Vijayalaxmi R. Iyer
Vijayalaxmi R. Iyer
Director - Aurangabad-II
R.B.O II Aurangabad
Prateek R. Katarpawar
Prateek R. Katarpawar
Director - Nagpur-I
Nagpur Zone II
Mangesh N. Duble
Mangesh N. Duble
Director - Nagpur-II
C.A.C Amravati
Suresh Y. Chindarkar
Suresh Y. Chindarkar
Director - Pune-II
Kolhapur Treasury
Santosh S. Reelkar
Santosh S. Reelkar
Director - Ratnagiri-Sindhudurg
Chiplun Branch
Atmaram D. Kondaskar
Atmaram D. Kondaskar
Co-opted Director
Elphistone Road Br. Mumbai
Sudhir S. Tawade
Sudhir S. Tawade
Co-opted Director
Mumbai Main Br. Mumbai
Contact us
State Bank Of India,
Mumbai Main Branch Building,
3rd Floor, Near Horniman Circle,
Mumbai Samachar Marg, Fort,
Mumbai 400 023
Tel: (022) 22661780 / 22664360
email: info@sbimspatel.com
Aurangabad
Shri Pratibha Sankul,
Flat No 03, Plot No 155 , N-5 South,
Opp Sbi Administrative Office,CIDCO
Aurangabad 431 003
Tel: (0240) 2482070
Kankavli
Manoharshilp, UG-10, B-wing,
Upper Ground Floor,
Near Janavli Bridge,
Mumbai-Goa Highway, Kankavli,
Dist-Sindhudurg 416602
Tel: (02367) 232011
Nagpur
206, Girish Heights,
Near Bharat Talkies, Sadar,
Kamptee Road,
Nagpur 440 001
Tel: (0712) 2531299
Pune
"SNEHA NIRZAR", Sky Horizon, Market Yard,
Gultekdi,
Pune 410 037
Tel: 020-24266677