Mumbai Bank Opens Anushakti Nagar Branch, Plans Scheme for Fishermen
The Mumbai District Central Cooperative Bank inaugurated a new branch in Anushakti Nagar on Monday, with chairman Pravin Darekar announcing that the institution will soon launch a dedicated financial scheme for fishermen and working-class people. Chembur MLA Tukaram Kate inaugurated the new facility, which aims to expand access to formal banking across the eastern suburbs.
Darekar stated that the Trombay-Anushakti Nagar belt houses a sizeable population of industrial labourers, pensioners, and fishermen who require convenient local banking services. Noting that fishermen are the original residents of Mumbai, he said the bank would introduce a targeted assistance initiative specifically tailored to their livelihood needs and those of other local workers.
Reviewing the institution's existing programmes, Darekar said Mumbai Bank has previously provided interest-free loans of up to Rs 1 lakh to women seeking to start their own businesses, benefiting between 2,000 and 2,500 women. He added that the cooperative lender has also extended housing loans to mill workers, Mathadi workers, teachers, and police personnel.
Addressing banking regulations, Darekar argued that small borrowers should not be penalised under the same mechanisms applied to large defaulters when dealing with non-performing assets. He claimed the cooperative bank has stood by ordinary citizens where commercial and nationalised banks have not, adding that he will launch a movement across the cooperative sector after repeatedly raising the issue in the state legislature.
Darekar also reported that the bank's business turnover has expanded to between Rs 15,000 crore and Rs 16,000 crore over the past 25 years. He expressed confidence that the institution would cross the Rs 25,000-crore mark before the end of its next five-year period, pointing to initiatives such as its self-redevelopment scheme that allows housing societies to manage their own redevelopment projects.
Speaking at the event, MLA Kate urged local residents to actively use the new Anushakti Nagar branch. He also requested Darekar to consider opening an additional branch at Ghatla village in Chembur, noting that residents from that area currently have to travel to Govandi to access basic banking services.
