Rajesaheb late His Highness of Sangli Institute, Chintamanrao Appasaheb Patwardhan, at that time, for the progressive improvements in the provincial states progressive reforms and encouragement of the people, with the help of experienced and well-appointed officials of the time, establishing the bank on March 28, 1927, with the share capital of only 5000 rupees.
From the founding, Bank is hounered with late. Nanasaheb Joshi, Late Madhavrao Bhide like Managers. After the merger of the institutions after independence, the bank was registered as a South Satara District Central Bank on July 27, 1950 and in the year 1951, Under the amazement of late. Bhagwantrao Dattaradar, the first Board of Directors appointed. In the next period, the bank elections were held in 1955/56 and the Public Representative of the Board of Directors came into existence. Late. Rambhawu Arawade was elected as Chairman and late. Gulabrao Patil as a Vice Chairman. In the same period, three sugar factories of Sangli, Warana and Krishna were registered. For the purchase of shares and sugarcane cultivation for sugar factories, large amount of credit was provided during that period. At that time Y.S. Borgaonkar worked as the banks manager. He was then elected to the Reserve Bank. From then, P.B. Takawekar started working as Manager from 1956 to 1986. In 1956/57 Late. Gulabrao Raghunathrao Patil was elected as Chairman of the Bank. He has successfully completed the post of Chairman of the Bank for 14 years. During his chairmanship, he brought the name of the bank to a new name and has made the mark in whole Maharashtra.
In 1957, the headquarters of the bank was set up at the hands of the then Chief Minister, Yashwantraoji Chavan, in the Wakhar bhag, Sangli. Construction completed within the year, inauguration done by the then Governor of the Reserve Bank of India B. Venkatapayya and in presence of Chintamanarao Patwardhan Rajasheb on 23/02/1958.
In 1960, Sangli district became independent and our bank started functioning as Sangli district central bank. In order to increase the cooperative societies all over the district, the Bank has decided to consider priority over farm term loan for agricultural business and medium-term loan supply for agricultural growth. The banks then president late. Gulabrao Patil took great care to convince all levels of farming and agricultural development schemes, and tried to implement the loan scheme of new agricultural businesses through the bank.
In order to study the increased dues in the 1972/73 year due to drought, the government appointed a committee under the chairmanship of late V. M. Dandekar, economist. Late Gulabrao Patil, late. Bajirao Balaji Patil was inducted in this committee. Afterwards, in the field of agriculture, focusing of on cultivation of fruits and it would be beneficial and profitable to the farmers this thought reached by late Vasantdada Patil, late Rajarambapu Patil, late Gulabrao Patil, Dr. P.S. Thakur, late Vasantrao Arvey to farmers and Vigorous efforts were made by the Bank to increase grape gardens.
During the period from 1970 to 76, the chairperson of the bank was led by Mr.Bajirao Balaji Patil. Gulabrao Patil worked for 28-30 years in the banks board of directors. He has been holding the chairmanship for 14 years. During his tenure, he made the Bank as an ideal bank.
During the functioning of his presidency, the banks golden jubilee function was inaugurated in 1977 by the then Chief Minister, Dr. Vasantdada Patil and the Speaker of Maharashtra Legislative Assembly Balasaheb Desai.
With bank financial work, the Bank has consciously tried to maintain social commitment. At that time, the bank expressed its sympathy with the donation of one lakh rupees for the foundation of Shivaji University. Apart from this, to the various colleges of Sangli district also provided funds for the construction of buildings, laboratories, educational literature and library. In the same way, the bank has expressed its attendance in paying Rs.2.00 lakh on for prize giving by the Maharashtra State Co-operative Banks Association in the name of late. Vishnuanna.
In the year 1980-81, when the bank faced financial crisis, the Reserve bank had taken the bank under reparation, and under the Reserve Bank officer Hon. Bapatasaheb, for determining and working for the banks working policy, established the Rehabilitation Committee. With the difficulty of the situation, the Banks Board of Directors and the banks servants worked very hard to get the bank out of rehabilitation after one year and the bank got out of that crisis. After this, in the next few years, the graph of the banks progress has started making increases every year.
Foundation ceremony of the existing building for the main office due to the increase in the business of the bank done by the hands of Dr. Vasantdada Patil, Afterwards, inauguration of the administrative head office of the bank was done by the then Chief Minister of Maharashtra Shivajirao Patil Nilangekar. With the help of NABARD, the bank offered direct debt relief policy to the farmers of the rural areas to get self-employed in the rural areas along with agricultural and industrial credit facilities. Bank had problems since 1995/96 due to the industrial loan given to power loom and precooling business by the bank. Reserve Bank of India mandated NPA policy for district central banks from year 1996/97. The provision for NPA creates a big challenge for the bank. From 98 / 99 to 2000, NPAs provisions have been a cause of concern for the bank. Banks had to make provisions for NPA in relation to the increased due loans of the bank.
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