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The Mumbai District Central Co-operative Bank Ltd. is a central financing agenc
operative societies in Mumbai district, which is popularly known as "MUMBAI BANK" and is re
Act in the year 1974 and started its functioning on 12th Feb.1975. Since there is no agricultu
District, MUMBAI BANK is catering to the financial needs of non agricultural co-operative socie
co-op. banks, Urban co-op. credit societies, Employees co-op. credit societies, Housin
Co-op. consumers stores, Industrial, fisheries and labour co-op. societies etc.
In India, an integral part of the policies formed by the Co-operative movement is focused on the
country, upliftment of poor and propagation of principle which represents the very socio-cultural
Co-operative movement has enabled us to develop the economy and to bring social change a
of the co-operative depends largely on their ability to face the challenges by converting th
opportunities of growth and development in the fast changing liberalized economic era. The
movement is so far the largest movement in the world. In India co-operatives operate in almost
i.e. agricultural, agro-processing, fertiliser, marketing, credit, dairies, spinning, handloo
sugar, fisheries, banking, etc.
In India co-operatives have gained popularity because they have proven capabilities to reach a
and have strengthen the faith in co-operatives. The area of operation of some of the co-ope
village, taluka, district, state or all India basis. Computerization is a new need of busines
Operational efficiency, customer service, communication & management information system a
parameters to ensure success of business organization. These parameters are improved to a
help of computers and information technology (IT) by The Mumbai District Central Co-operativ
operatives are based on the values of self-help, self-responsibility, democracy, equality, equity
co-operative principles are the guidelines by which co-operatives put their values into practice
Co-operative Alliance (ICA) in its centennial conference held in Manchester in September
adopted seven basic principles of Co-operation.
Voluntary and Open Membership
Democratic Member Control
Member Economic participation & Control
Autonomy & Independence
Education, Training & Information
Co-operation among Co-operation
Concern for Community
A co-operative society is an autonomous association of persons united voluntarily to meet their
social and cultural needs through a jointly owned and democratically controlled enterprise. Th
operative credit structure in the state of Maharashtra. The Maharashtra State Co-operative
institution working at the state level whereas the district central co-operative banks are work
These district central co-operative banks are catering to the financial needs of primary c
concerned district. These banks are playing vital role particularly in providing financial assistan
well as non-agricultural cooperative sector through member co-operatives. District Central Co
acting as a balancing centre of surplus funds of all primary co-operatives in the district..
We appeal to all co-operatives and corporations to come forward and avail financial assistanc
the socio- economic Development of the people in greater Mumbai and Maharashtra.
10 Membership:
Deposits
Retail Banking :
1- Saving Account
2- Current Account
1 Saving Account
Interest
It will be calculated @ 4% p.a. on the basis of Daily Product and will be credited
quarterly intervals in March,June,September & December.
Pass Book
Pass book will be supplied to every savings Bank depositor showing his accoun
address, transactions with date, amount and particulars.
Incidental Charges
If a minimum balance of Rs.1000/- (with cheque book facility) or Rs.500/- (without ch
is not kept, the Bank will charge incidental charges at the rates as in force fro
Also refer to our Service Charges on this site for other incidental charges.
Initial Deposit for opening Savings Bank Account & minimum balance to be maintain
:
With Cheque Book Facility - Rs.1,000/-
Without Cheque Book Facility - Rs. 500/-
Current Account
Interest Rates :
1 – Deposit
2 – Loans
Deposit
B Term Deposits - - -
Deposits for 7
1 days to 29 days 4.00% 4.50% 4.50%
Deposits for 30
2 days to 45 days 5.00% 5.50% 5.50%
Deposits for 46
3 days to 90 days 5.50% 6.00% 6.00%
Deposits 91
days to 180
4 days 6.00% 6.50% 6.50%
Deposits for 181
days to 364
5 days 7.00% 7.50% 7.50%
Deposits above
12 months to 24
6 months 7.50% 8.00% 8.00%
Deposits above
24 months to 36
7 months 7.15% 7.75% 7.75%
Deposits above
36 months to 60
8 months 7.30% 7.50% 7.50%
.
The revised interest rates are applicable for deposits received and renewed on or after 01/08/2
Interest on Term Deposit shall be calculated at quarterly rests and fraction interest should be
nearest rupee.
Term deposits shall be accepted for a period mentioned above.
Senior Citizens will have to produce Age Proof such as PAN Card, Election Voting Card, Se
etc.(Minimum Age 60 years & above)
Own money declaration from Staff / Ex-staff members should be obtained.
In case of renewal of an overdue deposit strictly observe terms of our office circular NO.MB/H
O.C./2016-2017/3004 DT-21/11/2016
Recurring Deposits shall be accepted for the maximum period of Three years only.
The Rate of interest applicable to prematured withdrawal will be 2% less than the rate a
period for which the deposit is remained with the bank.This applicable rate will be those
force when the said deposit is kept with the bank or 2% below the contract rate, whichev
In case of those depositor/s who is/are not having account with the branch, KYC norms as per RB
be strictly followed before investment.
For 102
31 months 5.05% 6.25%
For 105
32 months 5.02% 6.25%
For 108
33 months 4.99% 6.25%
For 111
34 months 4.96% 6.25%
For 114
35 months 4.94% 6.25%
For 117
36 months 4.91% 6.25%
For 120
37 months 4.89% 6.25%
Contract Contract
Rate of Effective Rate Rate of Effective Rate
Interest of Interest Interest of Interest
(P.A.) (Information) (P.A.) (Information)
r.No Period
The revised interest rates are applicable only to the fresh Reinvestment, Term deposits receive
or after 01/08/2018.
Interest on Reinvestment Deposit shall be calculated and compounded at quarterly rests at c
fraction interest should be rounded off to the nearest rupee.
Reinvestment deposits shall be accepted for a period from 12 months to 60 months in th
of 3 months at contract rates only.
Senior Citizens(Minimum Age 60 years and above) will be offered an additional rate of interest
Senior Citizens will have to produce Age Proof such as PAN Card, Election Voting Card, Se
etc.(Minimum Age 60 years & above)
The facility of additional interest rate as above contract rate is made applicable to the staff m
members of the bank against the receipt of own money declaration.
In case of renewal of an overdue deposit strictly adhere terms of our circular No.MB/H.O. Accou
2017/3004 dt.21/11/2016.
The Rate of interest applicable to prematured withdrawal will be 2% less than the rate a
period for which the deposit is remained with the bank. This applicable rate will be thos
in force when the said deposit is kept with the bank or 2% below the contract rate, which
In case of those depositor/s who is/are not having account with the branch KYC norms as per RB
be strictly followed before investment
The contract interest rate shall be printed on Reinvestment term deposit receipt.
Loans
12 O.D. against F.D. Receipts 0.45% more than F.D. Interest rate
15
Fixed Rates
Corporative socities:
दि.31/07/2018 रोजीच्या मा.संचालक मंडळ सभेतील दिर्णयािुसार दि.01/08/2018 पासूि बँकेच्या अल् प मुित व मुित कजाणवरील व्याजिर वरील व्याजिर खालील
व्याजिर(ि.सा.ि.शे.)दि.01/08/2018
Sr.No तपशील पासूि
1 नागरी बँ का 10.30%
28 पगारदार व्यिीस
ं ाठीचे वै यस्टिक कजण 12.50%
Other Services:
1-RTGS / NEFT
2 – SMS Banking
3 – Insurance product :
Mumbai Bank has signed Referal agreement with Future Generali Insurance Company for selli
Life Insurance Products w.e.f August 2011
www.nabard.org
www.npci.org.in
www.mscbank.com
www.maharashtra.gov.in
www.sahakarayukta.maharashtra.gov.i
Printed from
Another 537 housing societies in the city have held general body meetings to go in for self-redevelopment.
Prabhu who has been campaigning for self-redevelopment was asked by the bank to recommend a policy for
redevelopment of slums, old and dilapidated buildings and for properties acquired by Mhada.
So far, slum-dwellers had to approach developers for redevelopment despite the government declaring addit
floor space index (FSI) of 10% over and above the FSI available to developers for self-redevelopm.
A committee under the chairmanship of S S Tinaikar appointed in 2000 to review the SRA schemes had opin
be replaced. “The SRA scheme in its present form is of the builder for the builder by the builder and the bene
dwellers is purely coincidental,” said the report.
Recently, the owners of Parshuram Wadi in Prabhadevi and 165 tenants had a series of meetings and resolv
redevelopment. Tenants of three buildings at C P Tank were brought together with their landlords to jointly re
buildings. Similarly several buildings in Shivaji Park, Dadar Hindu colony, Matunga and Sewri have also come
“Condition of buildings acquired by Mhada under chapter VIII A have deteriorated due to the provision in the
sale of surplus area to outsiders. In these buildings tenants who cannot afford to buy extra area will now get
while those who can afford to buy extra area can buy it at discounted prices,’’ said Prabhu. “Those availing o
for the total cost of the project. In an area where the selling price is Rs 45000-50000 per sq ft, tenants can ge
15,000 per sq ft,” said Prabhu.
A committee under the chairmanship of S S Tinaikar appointed in 2000 to review the SRA schemes had opin
be replaced. “The SRA scheme in its present form is of the builder for the builder by the builder and the bene
dwellers is purely coincidental,” said the report.
Recently, the owners of Parshuram Wadi in Prabhadevi and 165 tenants had a series of meetings and re
redevelopment. Tenants of three buildings at C P Tank were brought together with their landlords to joint
buildings. Similarly several buildings in Shivaji Park, Dadar Hindu colony, Matunga and Sewri have also c
“Condition of buildings acquired by Mhada under chapter VIII A have deteriorated due to the provision in
forbidding sale of surplus area to outsiders. In these buildings tenants who cannot afford to buy extra are
600 sq ft free while those who can afford to buy extra area can buy it at discounted prices,’’ said Prabhu.
extra area will pay for the total cost of the project. In an area where the selling price is Rs 45000-50000 p
get it at Rs 10,000-15,000 per sq ft,” said Prabhu.