Bombay Mercantile Cooperative Bank, one of the leading Urban Cooperative Banks, celebrated its 83rd foundation day on 2nd June 2021 by unveiling an ambitious future plan of the Bank, especially its foray into digital banking.
Launching its Mobile Application on the occasion, bank’s Chairman Zeeshan Mehdi said to Indian Cooperative, “On the occasion of the foundation day we have launched our mobile app which will be available on apple and play stores from next week.”
Chairman Mehdi said “We are in the process of beginning internet banking and waiting for the approval of Reserve Bank of India., As we are fulfilling all the financial criteria we can avail this service”.
Besides, the bank has decided to announce a relief package for the next of Kin of the employees who died due to Covid-19.
He also thanked the shareholders, members of the Board, staff members and regulatory authorities for their unstinted support and listed the achievements of the bank in the background of the current economic conditions.
The Foundation Day was celebrated by the Bank through a series of CSR initiatives across the country to fight Covid-19 and contain its spread
Dr. Mohd. Shah Alam Khan, Managing Director, offered rich tributes to the founders of the Bank who had envisioned its establishment for uplifting the poor masses. He also commended the contributions of employees and the unwavering support of all the stakeholders.
The Bank was established in Mumbai in 1939 by Shaikh Mohammedally Allabaux and Padmashri Zain G. Rangoonwala and has now grown to 52 branches spread across 10 states. It’s a Scheduled Bank and transacts all banking business including Foreign Exchange.