knowmyifsc.com

The Kallappanna Awade Ichalkaranji Janata Sahakari Bank Limited, a prominent institution in the co-operative banking sector, traces its origins to the post-independence co-operative movement in Maharashtra. Registered on November 5, 1962, and commencing financial operations on February 7, 1963, the bank was established by Late Dattajirao Kadam, ably assisted by Shri Kallappanna Awade (the bank's first chairman) and Late Shankarrao Hupare. The original objective was to extend the co-operative base to the agro-based industry and support the burgeoning textile sector in Ichalkaranji, a city known as the 'Manchester of Maharashtra'. The Reserve Bank of India (RBI) granted it a banking license as an Urban Co-operative Bank in April 1982, and its achievement was further recognized with the prestigious Scheduled Status from the RBI on January 29, 2000.

As a Scheduled Urban Co-operative Bank, the institution is currently structured as a member-driven co-operative rather than a public or standard private limited company. It has grown to be one of the largest Scheduled Co-operative Banks in Maharashtra State and a leading financial entity in South-Western Maharashtra, operating a network of over 50 branches across Maharashtra and Karnataka. The bank's general significance in the Indian financial system lies in its foundational and continuing role in financing the region's industrial and agricultural sectors, particularly providing lifeblood to small powerloom owners and ancillary units. It actively participates in government schemes, such as those co-opted by the Small Industries Development Bank of India (SIDBI) for technology up-gradation in the textile industry, highlighting its commitment to the local economy it was originally founded to serve.