Question

explain the following statement
The rate of interest of Jijamata co-operative credit society for a loan is 12p.c.p.a

Answer 1

Answer:

The bank was established in 1974 in the memory of "Rajmata Jijau" the mother of King Shivaji.

The founder was then MLA Smt. Malatibai Shirole and Madhavrao Shirole (IRS) . The bank was established with an aim to provide financial help to the lower weaker section of the society particularly women.

Initially the share capital was collected from distant villages from Pune District . The bank was inaugarated by Honourable President Smt. Pratibhatai Patil.

The first bank premises were in Shaniwar Peth in Pune. Then the head office was shifted to Savarkar Bhavan , Shivajinagar and finally it was shifted in its own premises at Tilak Road.

The bank’s branch structure is urban as well as a rural. Currently the bank has 15 branches of which 4 branches are operating in the rural area. The bank has received "The best Women Bank" (Rajmata Jijau Award) thrice from Maharashtra State Banks Association , Mumbai. It has also won accolades and awards from the federation.