Since inception, Chitnavispura Bank is making progress. This has happened due to the customers’ faith repose in the bank, said Dr Ishwar Choudhary, Chairman of the bank. The seeds of the bank was sown by Bapusaheb Chitnavis in 1931. He started co-operative society and donated the land of residence. Several people became shareholders by investing Rs 5 in the co-operative society. On April 1 6, 1966, the society was converted into the bank, said Dr Ulhas Duragkar, Vice-Chairman of the bank.
The bank today has 28,000 shareholders. In the year 2000, a four storied building of the bank was constructed near Rajvilas Talkies. The bank has branches at Itwari, Sakkardara, Butibori, Kalmeshwar and Narsala. The bank has capital worth Rs 7.25 crore and Rs 12.37 crore as special fund. It has deposits worth Rs 140.58 crore, working capital Rs 167 crore. The bank has registered net profit of Rs 1.27 crore. It has bagged ‘A’ grade in audit. The bank from 2007 to 2011 has given 13 per cent dividend. It has also increased the wages of the staff. Dr Durugkar is Director of the bank since 1978 and Ishwar Choudhary is Chairman of the bank since 2007.