By Rons Bantwal
Daijiworld Media Network—Mumbai (RD/CN)

Mumbai, Jun 2: Rajapur Saraswat (RS) Co-operative Bank that has been functioning in the metro for the past 11 years, will open its fourth branch on Thursday June 4 at Sai Kripa complex, located next to Gokul Anand Hotel, Shiv Vallab Road, Western Express Highway, Dahisar (East).

“The fifth branch of the bank will be opened shortly at the central suburb of Kalyan”, said bank chairman Kacheri Sadanand D Nayak.

The Rajapur Saraswat community hailing from the undivided Dakshina Kannada district of Karnataka, made their mark in co-operative banking in the metro, by opening first branch of R S Co-Operative Bank at Borivali (East) in 1997, under the leadership of S Sanjeev Nayak.

Kacheri Sadanand Nayak took over the reigns of Bank from Sanjeev Nayak in 1999.  Since then, the Bank has seen rapid developments in every quarter reaching a business volume of over Rs 52 crore and distributed dividends of 12 percent to the shareholder.  

The Bank opened its new headquarters at Swapna Siddi Commercial Complex, Kandivali (East) in 2007.  It was inaugurated and blessed by Sri Shivanand Saraswati Swamiji of Kaivalya Mutt, Goa. 

The Bank has bagged the state-level ‘Best Bank Award’ for three consecutive years as well as the excellent bank award from metropolitan Co-operative Banks Association for three consecutive years, the Maharashtra Gourav Award, recognition from Indian Achievers Forum, and International Integration and Growth Society, New Delhi, besides bagging several awards from various financial institutions in recognition of their banking services and customer satisfaction.