Col RD Nikam Sainik Sahakari Bank Ltd

About Us

1. Col. RD Nikam Sainik Sahakari Bank Ltd., was started on Jan. 23, 1985 at Satara an old princely state and capital of the erstwhile Maratha empire by late Col. R.D. Nikam Veteran of the 1st Maratha Light Infantry (Jangi Paltan) in World War II, then on independence in 3 Maratha Para (now 2 Para SF), Maratha Light Infantry Regimental Centre, 4 Border Scouts, 9 Grenadiers, 8 Assam Rifles, Assam Rifles Training Centre, Mahar MG Regiment Training Centre, 11 Mahar, 4 MP NCC Bn. and Commandant Western Command Press Camp (1971 Indo Pak War). and his association Maharashtra Maji Sainik Va Pensioner’s Sanghatana. He was an alumnus of King George’s Royal Indian Military College, Ajmer. Initially, the bank was started as ‘Sainik Sahakari Bank Ltd., Satara’, but on the demands from its shareholders, the name of the bank has been changed to ‘Col RD Nikam Sainik Sahakari Bank Ltd., with effect from February 10, 2008. Today the bank is headed by Capt UR Nikam, a Gunner Officer.

2. The Col. RD Nikam Sainik Sahakari Bank Ltd., is a unique venture in the field of banking by Veterans and Servicemen as all the shareholders are either Service personnel or Veterans. Within a short span of 34 years the bank has made tremendous progress. Starting from an area of operation limited to 8 villages in Satara district to Maharashtra State. A small capital base of Rupees twenty five thousand (25,000) in 1985 became Rupees fifteen crores twenty lakhs twenty two thousands (15,20,22,000) as on 31st December 2020. The deposits grew from Rupees seven lakhs seventy two thousand (7,72,000) in 1985 to Rupees Three hundred six crores fifty three lakhs nine thousand (306,53,09,000) as on 31st December 2020 and the advances grew from Rs four lakhs eighty three thousand (4,83,000) in 1985 to Rupees one hundred seventy nine crores eighty one lakhs ninty two thousand (179,81,92000) as on 31st December 2020. This shows our tremendous growth. We have helped resettle more than 40,000 Ex-servicemen, widows and their

dependants by advancing them loans for buying and developing agriculture land, building houses, running shops, operating goods carrying vehicles, small scale industries, tiny industries, agro industries, general engineering, tailoring, dairy farm, poultry farm, building construction etc. A few years back we started a scheme to advance money to service personnel for building houses, purchase of agricultural land, purchase of house building plots, purchase of vehicles and consumer loans. The response has been extremely good with total advances amounting to more than Rupees fifteen crores and 3,800 personnel taking advantage of it. Today our bank has 54560 shareholders. A new scheme to help the service personnel was launched on 1st April 2019 and it has had good response with the total of Rs 15,78,00000 ( Fifteen Crores Seventy Eight Lakhs ) has been disbursed till 31st Dec 2020.

3. Recently a new venture for empowerment of our Services & Veterans women has been started by the Maharashtra Maji Sainik Va Pensioners Sanghatana under the title SARASWATI SAINIK MAHILA BACHAT GAT (SSMBG) under the leadership of Mrs Pushpa Nikam These Bachat Gats or Women’s Self Help Groups have their bank accounts with us and we in association with the Maharashtra Maji Sainik Va Pensioners Sanghatana guide, advice and if need be finance them to set up small ventures like dairy farming, running shops, buses etc.

4. On 14th April 2005 we presented a running Silver Trophy to the Maratha Light Infantry Regimental Centre in Memory of our late founder Col. RD Nikam for the "BEST RECRUIT". A cash amount of Rs 3000/- is also awarded to the "BEST RECRUIT" of each passing out batch.

5. In honour of the World War II Veterans we felicitated their widows by presenting them blankets. Also, a practice has been started to felicitate all Veterans/Widows of veterans who have completed 80 years of age. This is a mark of respect to remember their sacrifices. .

6. Our bank has taken steps to emerge as a strong player well equipped to handle future challenges. To seize the new opportunities in the financial sector our bank is looking into new areas and has plans in future to build upon other areas of strength viz- foreign currency non-residence accounts, mobile banks and opening new Branches/ Offices. Today the bank has 19 branches and its area of operation is spread over Maharashtra. We are Core Banking Solution compliant w.e.f. 01 Jan 2014. Our aim is to become the Apex bank for all Servicemen & Veterans in our country.

7. The COL RD NIKAM SAINIK SAHAKARI BANK LTD., has a duty and a responsibility for the well being of Veterans and Servicemen far beyond what a Nationalized, Urban Co-operative Bank or a Commercial bank owes to them. Our bank in association with the Maharashtra Maji Sainik Va Pensioner's Sanghatana (an NGO) has emancipated the Service Personnel and Veterans entrepreneurs from exploitation by educating and serving them with missionary zeal. The practical approach adopted by us in empowering Veterans economically and socially in business on one hand and building up their image as a beacon light for others to follow. All this would increase our Bank’s reach to Veterans, increase business volumes and at the same time add synergy to its operations with the concomitant benefits of increase of profitability. Our bank’s aggressive upgradation and movement from Branch automation to Bank automation is a harbinger of increased efficiency and customer satisfaction. In doing so our mission is “To provide Superior, Proactive banking services to niche markets, while providing cost-effective, responsive services to others in our role as a developing bank and in so doing meet the requirements of our shareholders” and our vision is “ To become the bank of choice for all Servicemen & Veterans, and also medium business, retail customers, farmers and to provide cost effective banking for small business, mass market & rural markets”.

8.Corporate Social Responsibility (C S R)

a. Our bank has always been in the forefront in Social Responsibility to adhere to the CSR requirements. The Bank Conducts Blood Donation Camps on 10th June every year to commemorate with the birth anniversary of our Founder Chairman late Col RD Nikam. This camp receives tremendous response from all our employees, customers, youth and well-wishers. From the year 2015 we have started "SAINIK SWACH BHARAT ABHIYAN" on our founders death anniversary. This is in line with the thought of "SWACH BHARAT" by our Prime Minister, Shri Narendra Modi.
b. The bank, its staff, and directors also willingly come forward to donate in cash towards help required for any social cause like drought condition, to repair percolation tanks & dams to increase the water holding capacity. Help the deprived infants of the society with medical problems like hole in the heart to undergo surgery.
c. Every year our Bank also felicitates the meritorious students of Std X and XII Board and also the wards of our members and staff who have excelled in the fields of sports, arts, culture etc at the AGM by giving them scholarships as a mark of encouragement.
d. Our Bank has also taken up the responsibility of erecting Bus pick up sheds for the use of the villagers & students in villages having large number of shareholders.

9. With our strengths built over since 1985 coupled with openness to change, our bank is well geared to exploit the future opportunities. The strategic initiatives being taken by our bank in diversifying it’s range of products and harnessing the technology further for improved efficiency of operations & heightened customer satisfaction would surely improve it’s status to a strong Co-operative Bank. We are sanguine that the steps being taken coupled with our resolve, would see the bank retaining and enhancing it’s position as a key player in the times ahead. And to quote from our mission statement, in so doing meet the requirements of our shareholders. We are also committed to the dreams of progress & prosperity of our Founder Chairman Late Col. R.D.Nikam, Ex Member Legislative Council of Maharashtra.