ReachoutHyderabad-BizHyderabad

The Charminar Co-operative Urban Bank, which has of late got pride of
place in the co-operative banking sector in the state of Andhra Pradesh,
was established in the year 1985. It was set up by a group of experienced professionals with a mission to develop the community of the old city in Hyderabad.

Though the atmosphere in the predominantly backward area of the old city was not conducive for such type of activities, the group surged ahead and initiated the plans of setting up a bank to be run by minority community. A sustained campaign was launched to mobilise the public opinion and raise share capital, which involved all sections of the people. It marked the humble beginning of an era aimed at progress, development and prosperity of the community at large.

The Nawab Mir Kazim Nawaz Jung Bahadur, Ali Pasha was chosen to lead the newborn bank, while Mr.Abid Hussain Razvi was appointed the Managing Director.

Under the stewardship of the Nawab Kazim Nawaz Jung Bahadur, the bank grew steadily mobilising deposits to a tune of Rs.37 crores and opened six branches in the twin cities with a strong and efficient workforce of over 100 members. In 11 years After the sad demise of the Nawab Kazim Nawaz Jung Bahadur, elections were held for the post of Chairman in August 1996 in which Janab Syed Alamdar Hussain Sajjad Aga, A business magnete, philanthropist and social worker was elected with a record majority. He took over on August 6th,1996 and with this began a new era of development and progress in the Urban Co-op. Banking sector. With his immense capabilities he led the bank towards incredible heights.

When the present Chairman took over the bank, it had only six branches that too with small and dull atmosphere. Mr.Sajjad Aga revolutionised the entire concept of banking and brought in new dimensions in its functioning. Besides adding new branches, the old branches were gradually shifted to new, attractive and spacious premises. The Sultan Shahi branch, the Mahboob chowk branch, and the Bholakpur branch were shifted into attractive and convenient locations. The premises of Tolichowki branch is a marvel. It is centrally air conditioned and fully computerised. The exterior of the building is decorated with glass panes on the front, giving a unique and distinct look to the bank. The quite calm and serene interiors of the two storied building presents a pleasant atmosphere.

The Masabtank branch is yet another example of Hi-Tech banking. The CharminarBank has acquired a premises at a prime location at saifabad opposite to A.P.Legislative Assembly for its Administrative office. This block, purchased out of the net profit of the bank is really a proud gift by the chairman to the share holders and customers.

The bank with 21 branches has Rs. 423.00 Cr. deposit with a turn over of 8,000 Cr. The Bank is growing at an incredible speed and of late has become a trend setter among all the co-op. Urban banks in the state of Andhra Pradesh. Under the stewardship of Mr.Syed Alamdar Hussain Sajjad Aga it has initiated several innovative measures to improve its image and functioning. Appointment of the Dy.Registrar Co-op. as arbitrator by the co-op. department is one such step which others thought it fit to follow. This appointment has facilitated in fast recovery of loans. The Bank has been conferred with the status of scheduled bank with effect from 26 feb,2000 by the RBI. The Bank is the 51st in the Country and third in Andhra Pradesh to get Scheduled Status it is also a matter of pride that the Bank has been rated by the Urban Bank's all India Directory as 25th in the Country among all the Co-Operative Bank's.

Mr.Syed Alamdar Hussain Sajjad Aga has recently been conferred with "The Rastriya Ratan Millennium Award" and also "The Man of the Millennium Award 2000" for his achievements in co-operative banking.He has indeed set new trends which others wish to emulate but, find it difficult to follow.

-MK
Hyderabad