|The Mahanagar Co-op Bank Ltd. was established on 6th October 1973 by solicitor Shri. G.S.Shelke and his colleagues from Ahmednagar District. The bank was started in the name of “The Ahmednagar Sahakari Bank Ltd.”. The bank was initially set up to help Mill workers from Kalachowki and Lalbaug area and Dock workers from Carnac Bunder, Fruit, Vegetable and Flower vendors from Crawford market, Byculla and Dadar market, Fish vendors from Colaba and small number of shop keepers and self employed persons.
But later bank decided to expand its scope and cater the financial needs of the common people therefore on 21st January, 1998 bank name was changed to “The Mahanagar Co-operative Bank Ltd.” The bank value its clients therefore it provides fully computerized services. Bank has introduced "Total Bank Automation" to provide the facility of inter-branch connectivity for any time and any branch banking transactions.
Bank has deposit facility for individuals, senior citizens, co-op institutions, staff and retired persons. Bank also provides various loans such as business loan, education loan, personal loan, etc.