The Ajantha Urban Co-Op Bank Ltd, Aurangabad .Came into Banking Business on 28/04/1999
Along with Ajantha Bank there were other 6-7 Licenses were issued by The Reserve Bank Of India in the year1998.All these banks are operational in Aurangabad City. After 1998, The Reserve Bank Of India has Changed its policy of Issuing new license to banks or its branches and the week banks along with its branches were given priority of merger in the strong banks.The unviable branches of such week banks were permited to relocated.
Looking to the potential of business in the Aurangabad City so many other private vis-à-vis foreign Banks ,NBFC came into the historic city of the Aurangabad. Soe Of the NBFCs didi not work properly however hnce foced to wind up their activites howes all other Banks are doing good business.The Ajantha bank opened its Second Branch on-28/07/2003 the bank since inception desided to capitalize horizontally and then vertically and hence without expanding its branched network concentrated on its two branches.
The business mix with its Two branches as of 31/03/2014 is Rs.240.70 Crore and the anticipated business mix by 31/03/2015is Rs.320.25 crore.
The Bank has been emphasize on the technological upgradation since its inception and so can be considered to be compatible in respect of delivering state of art customer service to its customers.
The Per employee business of the bank 31.03.2014 was Rs.687.71 lacks and anticipated to be Rs.865.54 lac by 31.03.2015,looking to the per employee business it can be considered to be one of the best in the banking industry.The bank is envisaging to expanding its wings by openings 3 banches in the city.As the norms for obtination of Branches licenses are much tightened by the Reserve bank Of India,We are hopeful of getting these licenses in a short future of time.