Bank History

Glorious Journey of Ratnagiri District Central Co-operative Bank

The Ratnagiri District Central Co-operative Bank was established on May 24, 1957, and was inaugurated on December 5, 1957, by the late Shri. Ramlal Suraiya, the then Chairman of the Maharashtra State Co-operative Bank. Following the district reorganization, the bank was re-established on July 1, 1983 (Registration No. 1427). The Reserve Bank of India (RBI) granted the business license in 1995, which was further renewed in 2011.

To strengthen the fishing industry—a major occupation along the Konkan coast—the bank provides extensive financial support through Fishermen’s Co-operative Societies. The district's economy thrives on 'Konkani Produce' like Alphonso Mangoes, Cashews, Jackfruit, Coconut, and Kokum. While Rice and Nachni (Finger Millet) are the primary crops, the Mango and Cashew processing industries play a vital role in the district's economic growth. The bank consistently provides the financial strength required for these agriculture-based industries.

The Bank’s operations span across all 9 talukas of Ratnagiri district: Mandangad, Dapoli, Khed, Guhagar, Chiplun, Sangameshwar, Ratnagiri, Lanja, and Rajapur. The district is uniquely identified by the majestic Sahyadri mountain ranges, a rich variety of medicinal herbs, and a picturesque landscape shaped by heavy rainfall, creating a truly scenic environment.