Smriti Nagrik Sahakari Bank was established on 1st November 1999 by Shri Narendra Nahata, the patriarch and mentor of the Bank, with the aim of realizing the vision of making Malwa region prosperous and strong through cooperatives in a small town like Mandsaur. Today our Bank has taken the form of a tree and the business of the bank has crossed Rs. 1000 crore. The Bank was established 25 years ago with just one branch and now after completion of 25 years the Bank has 14 branches spread across Mandsaur, Neemuch, Ratlam and Indore districts.

Smriti Nagrik Sahakari Bank is ranked first in Madhya Pradesh among the banks of the cooperative sector and the bank management has cherished the dream that it should get the status of Scheduled Multi State Cooperative Bank and ultimately turn itself into Small Finance Bank.

This year, Smriti Bank is also celebrating its Silver Jubilee year. Smriti Bank has earned the affection and unwavering trust of esteemed customers in these 25 years. Over the last 25 years, we have not only improved our services, but also built an unbreakable and strong relationship with our esteemed customers.

In the journey of 25 years of the Bank, the backbone of Smriti Bank has been the agents of the bank who have played an important role in collecting small amounts from every category of account holders from vegetable vendors to hawkers and small and big traders by opening their daily deposit/savings/recurring/fixed deposit accounts. The total business has grown to more than Rs. 1000 crore.

In the journey of 25 years of Smriti Bank, the Bank has started various schemes of deposit and advance, so that all the facilities are being provided to the customers of the bank by Smriti Bank which are provided by commercial banks and private sector banks. At the same time, Smriti Bank has been providing the highest interest on deposits to the customers and investors of the bank and providing reasonable dividends to the investors on their investments for 25 consecutive years.

Smriti Bank is the first co-operative bank in the state to subscribe to the Reserve Bank of India Portal (NDS-OM) which is authorized for transactions in government securities. Similarly, where the bank has introduced mobile banking, WhatsApp banking and IMPS for the convenience of the customers, on the other hand, cross-selling has also been started by the bank to increase the income of the bank. Smriti Bank is also providing health insurance products to the customers of the bank at a very low premium by tying up with SBI General Insurance for insurance and also providing life insurance to the borrowers to protect the loan up to Rs. 2.00 lakh by tying up with Life Insurance Corporation of India (LIC) Similarly, the bank has also started all types of mutual funds and SIP schemes for the benefit of customers.

The Non-Performing Assets (NPAs) are also being monitored by your bank on a daily basis so that the bank knows what the level of NPA is today and how much recovery the bank has to make in a particular account, so that the account can be regularized.