Rajkot, February 23, 2025: Gujarat's leading cooperative bank, The Varachha Co-op Bank Limited, Surat, inaugurated its 27th branch in Rajkot on Sunday. The new branch, located at Kriti Onella-C Shopping Center in the Mavadi area of Rajkot, aims to provide swift banking services to the city's business community and local residents. The branch was inaugurated by Jayeshbhai Radadiya, Chairman of the Rajkot District Bank, in the presence of local dignitaries and social leaders.
Over its 30-year journey, Varachha Bank, a multi-state cooperative bank, has shown solid growth with 28 branches and a business turnover exceeding ₹5,500 crores. In his address, Radadiya praised the bank’s consistent progress and extended his best wishes to the bank’s officials for continued success. The inauguration ceremony witnessed the presence of notable personalities, including MLA Rameshbhai Tilara, Vijaybhai Dobariya, President of Sadbhavna Trust, Mouleshbhai Ukani, Trustee of Sardardham, Chandu Bhai Virani from Balaji Group, and Vikrambhai Tanna, President of the Saurashtra Kutch Urban Co-operative Banks Federation.
Varachha Bank has introduced the E-Shram Loan scheme to offer affordable credit to individuals in the unorganized sector. Additionally, the bank launched a Women Development Loan scheme, providing up to ₹1 lakh to empower women economically. To support small savers and help build their future capital, the bank implemented the Akshay Samruddhi Savings Scheme, which offers an attractive interest rate of 8.61 percent.
Bhavanbhai Navapara, Chairman of Varachha Bank, expressed pride in establishing the new branch in Rajkot. He emphasized the bank’s commitment to delivering fast and friendly banking services to the residents of the Mavadi area. The bank's Management Board Chairman, Kanjibhai Bhalala, highlighted that along with digital banking services, account holders at the Rajkot branch could also benefit from insurance and mutual fund services. During the inauguration, a digital e-lobby was also launched by Chandu Bhai Virani of Balaji Group. The e-lobby features a cash recycler machine, an automated passbook printing machine, and an automated cheque deposit machine, offering 24x7 access to account holders.
The event was graced by Varachha Bank's Board of Directors, including Narendra Bhai Kukadiya, Rajendra Bhai Bambhroliya, Kanjibhai Vadaria, and Management Board members Dilip Bhai Varsani and Haresh Bhai Kapadia. Special guests included Govind Bhai Jalaram Furniture, Gordhan Bhai Lathia from Surat, and several prominent social leaders from Rajkot.
With this new addition, Varachha Bank reinforces its mission to provide exceptional banking services while contributing to the economic and social development of Rajkot and surrounding regions.
