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The Ambarnath Jaihind Co-operative Bank Limited (AJHCB) was formally established in 1985, with its head office situated in Ambarnath, Thane district, Maharashtra. The bank was founded by Mr. Vilas Desai with a distinct social vision: to provide accessible and affordable banking services to the middle and lower-class sections of the Ambarnath-Badlapur region, who were often prey to high-interest private money lenders. This founding philosophy positioned the bank as a key institution for the socio-economic development of its local community from its inception, marking it as a classic example of the cooperative banking movement aimed at financial inclusion.

As of its current status, the Ambarnath Jaihind Co-operative Bank Limited operates as a licensed Urban Co-operative Bank (UCB), making it a member-owned, mutual institution within the regulated Indian financial system. Its significance extends beyond its local roots; its area of operation covers the entire state of Maharashtra, with a network of 18 branches across districts including Thane, Pune, and Raigad. The bank has demonstrated substantial financial growth, maintaining a consistent 'A' Audit Grade, with working capital exceeding ₹74,538 Lakh and deposits over ₹66,421 Lakh by March 2025. Furthermore, its Founder Chairman, Mr. Vilas Desai, held prominent national and state-level positions in the cooperative banking federations, signifying the institution's leadership influence within India's broader co-operative banking sector.