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As a concise, expert banking historian, I present the summary for Dattatray Maharaj Kalambe Jaoli Sahakari Bank Ltd. (DMK Jaoli Bank).
The Dattatray Maharaj Kalambe Jaoli Sahakari Bank Ltd., commonly known as DMK Jaoli Bank, was established on July 19, 1973, by the social reformer Late Dattatray Maharaj Kalambe and his followers, including Hon. Bhilare Guruji. The bank was founded on cooperative society terms with the express objective of sustaining the economic growth of the working-class people, particularly the "Mathadis"—migrants from the Western region of Maharashtra who worked in transports and godowns in Mumbai. Facing exploitation by moneylenders, these poor and often illiterate workers contributed to the initial capital of ₹1.25 lakhs, collectively establishing the institution. The bank began operations on September 7, 1973, in Masjid Bundar, Mumbai, with the core philosophy of "All for one and One for all."
The DMK Jaoli Bank is a Co-operative Bank and is currently a renowned non-scheduled Co-operative Bank in the Indian financial system, operating in the state of Maharashtra. As of March 31, 2022, it had a business mix of over ₹1,290 crores, serving an area that spans Brihanmumbai, Thane, Satara, Pune, and Raigad districts through a network of 24 branches. The bank's significance lies in its founding mission to provide financial inclusion and welfare for the downtrodden, especially agriculturists, artisans, and the working class, thereby acting as a crucial developmental pillar within the co-operative banking sector of Maharashtra. The institution has historically focused on bridging the economic gap and has a stated vision to achieve Scheduled Bank Status from the Reserve Bank of India.
(Source: Generated summary based on public domain financial data.)
IFSC Prefix: DMKJ
All codes for DMK JAOLI BANK branches begin with the four unique characters DMKJ. Please use the State directory above to proceed with your transaction details.