Indore Anaj Tilhan Traders Association, in order to connect their traders with co-operation, tried to establish a cooperative bank in the year 1990 in order to cooperate with the traders so that they can get their own bank profits for business.At that time, the office-bearer of the organization Shri. Rameswarlalji Asava, Shri Gopaldasji Agarwal and Shri Sukumalji Sethi, has been successful in cooperative mission in the year 1994. Joint Registrar of Cooperative Department, Indore, Co-operative Institution of Indore duly registered the Vyaparik Audyogik Sahakari Bank under the Registration number reg./ Indore / 94/6
For the successful banking execution banking license number UBD / MP /1094P dated 21-10-1994 issued by the Reserve Bank of India.
Vyaparik Audyogik Sahakari Bank started work from the capital of only Rs. 50 lakhs dated 18-10-1995, so little money and in the short term the bank earned a profit of Rs. 7 lakh in the first year. The working capital of the bank is Rs. 7663 lakhs as on 31/03/2024 and Profit 140 Lakhs.
The major role in the establishment of the bank, the founder of the bank Shri. Rameswarlal Ji Asawa, Founder Vice President Shri Gopaldas ji Agarwal and Founder Director Mr. Sukumal ji Sethi and Founder Director Mr. Mohanlal ji Gyani.
Shri Gopal Das Agrawal who is currently the Chairman of the Bank, at the beginning of the bank, you have shown your deep commitment to the bank by giving your personal guarantee in the clearing house. In the cooperative sector in the state, this bank has earned profit from the start and since 1999, 25 percent dividend per share is giving its members cup. In this arrangement, the bank’s employees, the diligence of the officials, the hard work on which the bank is holding the bank’s supervision counters. Bank’s shareholding members are also getting support from the bank as well as bank customers.
There will be further cooperation in the same way. The bank receives all types of savings from the members and account holders, current amounts, deadlines, recurring charges, and overdraft on fixed deposits etc., along with types of facilities such as Bank Draft, Entrance Check, Clearing, RTGS/NEFT/IPMS/UPI, and Mobile Banking etc. Providing the bank financial status as on March 31, 2024