Kranti Co-Operative Urban Bank Ltd is established during the year 1996 and completed 27 years of existence during the current year – 2023. The objective of its formation is to provide services to lower income group for mutual benefit.
Kranti Bank has been contributing its share to financial inclusion and inclusive growth of the country by reaching out to members of the lower income groups and underprivileged sections to bring them into the fold of banking services. In order to bring them in to Banking fold, we have designed No Frill Savings Bank Accounts and offering the product to lower income group segment.
We also have initiated, measures to bring the businessmen from the clutches of Call Money Market lenders, who are charging usurious interest rates ranging in between Rs.12-14/- per month per hundred. We have designed a special loan product, called “Kranthi Short Term Loans” and providing loans up to Rs.2.00 lakhs per business unit depending upon the turnover etc repayable daily in 90-150 days and charging normal rate of interest and recovering daily payments from them, by sending our executives for collection through Mobile Banking devices.
We have consistently been the frontrunner among peer banks in leveraging technology to deliver our products and services and enhancing customer experience and convenience through alternative channels. The landmarks of our technological progress include connectivity of all branches and introduction of Core Banking Software solutions, installation of onsite ATMs, Issue of RuPay debit Cards to customers to facilitate any Bank ATM access across India, SMS alert service, RTGS /NEFT, E-com, IMPS Branch debit and IMPS Mobile Banking facilities. We are also offering UPI services to our customers for convenience banking.
Recently we have launched one product by name “Double Benefit Deposit Scheme”, where the depositor has to open Recurring deposit for 24 months and pay monthly installments regularly till the due date of the deposit. After successful completion of maturity of the deposit, the holder will get equivalent amount of loan repayable in 24 months without any security.