The Shamrao Vithal Co-operative Bank Limited was founded when co-operation was just beginning to gain ground in the country. It was set up with the primary objective of assisting the less fortunate members of the community in its economic enterprises, to encourage savings and to create funds for providing financial aid to deserving members.

Rao Bahadur Shripad Subbarao Talmaki, the Maharshi of Co-operation, was the main architect of the Bank. The Bank was originally registered as a Co-operative Credit Society on 27th December 1906.

Thus inspired by lofty ideals for the betterment of the economic, moral and material well-being of the Community, the Bank was brought into existence with modest beginnings.

From a mere 120 members with a paid-up capital of just Rs. 1229/- in 1906, as of November 2006 the Bank has 76077 members with share capital of over Rs. 35.53 crore. The growth of deposits has been equally impressive. In 1906 the deposits stood at Rs.61/-. Today the deposits have risen to over Rs.2943.07 crore.

The Bank today boasts of 61 branches, 7 Extension counters and 43 ATM Centres spread over the States of Maharashtra, Karnataka and Goa. All the branches and the extension counters have been given special attention by providing some of the best amenities and a beautiful ambience.