This institute is nearing its centenary year celebration in 2013. It is a matter of pride that Bhalavalikar Gaud Saraswat Brahmin community has an institute, which is surviving and working on solid foundation for past so many years. No doubt, community based financial institute can be said as an outdated concept in today’s world. But it is natural considering a fact that almost everybody thinks first about self, then family, followed by other relatives, community, village, nation and so on.
First Co-operation law was passed in 1904 and Co-operative Credit Society Act came into existence in 1912. Appreciating the importance of the Act and with a futuristic vision, leaders of our community established credit society on December 13, 1913 and named it as ‘The Non-Agriculture Gaud Saraswat Co-operative Credit Society.’ The main promoters of this credit society were Shri. Dattatray Govind Tendulkar, Shri. Govind Ganesh Bandivdekar and Shri. Vishnu Pandurang Tendulkar.
In the beginning the society had 21 members and share capital of Rs. 600/-. It was very difficult to carry on business with such meager resources. More over people had their own apprehensions about credit society. At this crucial juncture, three ladies from the community came forward with valuable and most needed deposit of Rs. 3000/-. It gave real push to functioning of society.In the beginning, the office used to be in house of office bearers. The office bearers used to go doorsteps to recover loan installments. The committee meetings used to be held in someone’s residence and general meeting in school building or private places. In 1921 the office moved to present place at Mahavir Building, Nikadwari Lane, Girgaum, Mumbai.
In 1932, the name was changed from ‘The Non-Agriculture Gaud Saraswat Co-operative Credit Society’ to its present name ‘The Gaud Saraswat Co-op Credit Society Ltd.’ At same time membership, which was opened to all sub-groups of Saraswat Brahmins,made restricted to Bhalavalikar Gaud Brahmin alone. Considering modern trend, this can well said to be step in retrograde; though question as to why such stand was taken remains unanswered.
This credit society has played pivotal role in formation of Saraswat Hitwardhak Mandal(SHM). ‘Saraswat Vidyawardhak Samaj,’ Saraswat Samajik Samuh’ and Saraswat Atmonnati Samaj were three different institutions of Bhalavalikar Gaud Brahmin community were in existence. Every institution was working differently with common intention of welfare of community. The members of all three institutes were members of this credit society. The credit society provided common ground to come together, which slowly dissolved differences of opinion and paved way to formation of SHM. One may wonder had this credit society was not there, SHM would not have come into existence. SHM was housed in premises of credit society in the beginning till it got its present own building ready in 1964.
The credit society after having in existence for near a century has not registered a spectacular progress. But while browsing through records of past decade, one will notice, the team under guidance of Shri Shashikant Tendulkar as Chairman; has made good progress. Shri Shashikant Tendulkar as Chairman, Shri Suhas Potkar as Secretary and other committee members have selfless devotion to working of credit society. The credit society, which was giving a loan of Rs. 200/- in the beginning,is now granting loan even upto Rs. 2.50 lacs supported by guarantee of three members. The rate of interest is reasonable in comparison with other institutes in market. It has very quick loan process, which ensures disbursal in a day.
The salient features as on March 31st, 2020
Share Capital :Rs. 120.92 lacs
Fixed Deposits :Rs. 302.65 lacs.
Loans Disbursed :Rs. 467.56 lacs.
Working Capital :Rs. 546 lacs.
Non Performing Assets : 0.4%
Audit Class 'A'
A humble Appeal to all members of community : Become Member of Credit Society & Make it a Model Community Financial Institution.
Managing Committee for year 2019-20 to 2024-25
- Smt. Shraddha Shrikant Tendulkar, Chairman
- Shri. Vinayak Narayan Tendulkar, Vice Chairman
- Shri. Suhas Baliram Potkar, Secretary
- Shri. Chandramohan Dattatraye Kelkar, Member
- Shri. Shrikant Shriram Tendulkar, Member
- Shri. Anand Madhusudan Kinare, Member
- Shri. Ravikant keshav Tendulkar, Member
- Smt. Kalyani Chandrashekhar Phadke, Member
- Shri. Vijay Pandurang Kulye, Member
Contact Details
The Gaud Saraswat Co-operative Credit Society Limited
Office: 6, Mahavir Building, S.V. Sovani Path,
Khadilkar Road, Girgaum, Mumbai – 400 004
Telephone No.: 23801595
Registration No: 689 of 13.12.1913
Office Timings : Monday to Saturday : Evening 6.30 to 8.00
Weekly Off : Sunday
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