In the barn amid Akola district. Bank Limited, Akula is the center of the cage area 1. bank in the state of Maharashtra, India, as well as the existence of a legacy of 106 years post in Maharashtra. In the beginning was the name of the Central Bank and Akula Urban Bank Limited, Akula. In 1908, Akola district of twelve (12) great social well-wishers and social workers have decided to create a central bank for thirteen (13) barn. Communities to provide to these communities loan facility of Akula and to register, the central bank (Redhi) it made the request to the Office of the Registrar. The Hon time. Mr. Hemingwey cage recorder. Has given communities and the certificate to the bank recorded dated February 5th 1909
After passing of the cage. Credit Societies Act 1904, in Wakulla thieteen area (13) different types of fold. Get the establishment of associations up to 1908-1909. At that time the government (of India) to elect some / few preachers / meetings / publisher to meet and to recognize the importance of the principles of cooperation and cooperative societies between the (Indian) General Hon. K.P. Bhatta has played an important role in perusing public opinion / tilt towards cooperation in making their views about the positive cooperative / cooperation associations. Govt. (From India) and also give special focus to stimulate and accelerate the cage. Activities at one time for this / these barn. Communities. Govt. They also take officers arduous efforts / Special to the success of this barn. Communities.
These thirteen (13) barn. Communities that started / created in Akola district and the lack of any kind of relationship with each other. But the quantum of the members of their community are large, so as to meet the needs of these communities, members of these communities must take loans / money (no times) traditional money lenders. Once the field work of these associations need to expand access to the Central community has been achieved so intensely / get to intensify, so the owners of these thirteen fold. Communities and the lack of puck. Personal of Akola district have the same opinion create a (new) central society that will bind, fold. And the provision of funding or will meet the financial and economic need of all these society. And accordingly they all came together in January 1908, and decided to (let) the start / Create Central barn. Bank of Akola district. Moreover these twelve (12) leading people made combinely application to register the central bank to the Registrar with all the necessary procedures and documents. After that, according to the fold. Work to obtain the verification by the Registrar and with the signature on the certificate is authorized as it is written in the history of February 5, 1909 certification in Akola district center of the cage. The bank came into existence.
In the last 100 years it has been obtained to change the way of working and banking activities in accordance with the change of persons and officers authorized. The founder of this bank has spent a lot of time mainly in a strong bank making economically and provided with a strong economic base, said this period Development Bank up to 1930 to be the era of the 1st of bank.Due to economic deflection, through The 1930-40 economic activities (and financial) Bank close to close and if we say that it will not be by default (the statement). At this time, instead of having money with the bank, and it was the presence of the large amount of agricultural land deposits and share capital was getting freezing in the form of unpaid farmers with loans. But exaggeration comes with this bank bad situation has sold some land on installment basis and began some of the most value to them, and in this way to restore the original position with courage and patience. Must be on bank transactions to proceed smoothly / True, the economic situation of the bank must get stronger and according to the laws of economics must be able to provide loan facilities to farmers according to their needs and basic thought behind the origin / emergence of this bank.