Finance :


In the early 60s, with the vision of developing opportunities for the entrepreneurial youths and to offer jobs to the needy section of society, then Vibhag pracharak Shri Vasantrao Kasbekar laid the thought of starting co-operative banks for the upliftment of the masses. Co-operation movement was it at its peak at that time and with his appeal, several co-operative banks came up namely Chikli Urban Co-op Bank, Nandura Urban Co-op Bank, Khamgaon Urban Co-op Bank, Akola Urban Co-op Bank etc. Shri Shankarlalji Khandelwal, Shri Naryanrao Gangavate, Shri Narayanrao Tondulkar, Shri Mangilalji Sharma, Shri Jawaharlalji Lunkad, Shri Madhukar rao Pasarkar came together and started The Akola Urban Co-operative Bank in 1963 on the eve of Vijayadashmi. Shankarlalji Khandelwal became Founder President of the bank. At his behest, them M.P and former Prime Minister of India Shri Atalbiharji Vajpayee Inaugurated the head office of the building.
Shankarlalji had been keenly involved in the functioning of the bank. In the initial days, employees from his own shop worked in the bank. He worked along with others to build up the share holders of the bank and personally contributed a hefty amount himself. He steered bank through all the ups and down and brought it to a progressive stage. The bank has steadily made progress since then and has now achieved status of Multistate scheduled bank. It continuously showed profit for 25 years. The bank has a workforce of 600 employees currently. The head office of the bank moved to new 4 storied site in 2003, the inauguration of which was done by then Sarsanghchalak Shri Sudarshanji and then Chief Minister of Gujarat and current Prime Minster of India, Shri Narendraji Modi.