Strategic Tie-up Aims to Enhance Customer Service and Insurance Product Portfolio
Mumbai, Maharashtra – Bharat Co-operative Bank Mumbai Ltd. has announced a strategic partnership with Shriram Life Insurance Co. Ltd. during a special ceremony at The Westin Mumbai Garden City on March 1, 2025. The event was inaugurated by Bharat Bank’s Chairman, Mr. Suryakant Jaya Suvarna, who marked the occasion with the traditional lighting of the ceremonial lamp.
Present at this significant milestone were key dignitaries from both institutions, including Bharat Bank’s Managing Director & CEO, Mr. Vidyanand S. Karkera, Joint Managing Director Mr. Dinesh B. Salian, and General Manager Mr. Vishwanath G. Suvarna. Representing Shriram Life Insurance were Chief Operating Officer Mr. Atul Sharma, Head of Strategy Mr. Devendra Mane, Zonal Head (South & East) Mr. Ram Kumar, Zonal Head (North & West) Mr. Kankan Banerjee, and Head of Account Management Mr. Harminder Singh Jaggi.
Strengthening a Robust Insurance Network
This new collaboration complements Bharat Bank’s existing insurance partnerships, including tie-ups with leading insurers such as LIC of India, HDFC Life Insurance Co. Ltd., Aditya Birla Sun Life Insurance Co. Ltd., and Pramerica Life Insurance Ltd. for life insurance products. The bank also maintains successful partnerships for non-life insurance offerings with The New India Assurance Co. Ltd. and Bajaj Allianz General Insurance Co. Ltd.
Swift Response to Recent Misinformation
In recent weeks, misinformation concerning Bharat Co-operative Bank's financial stability and regulatory compliance has circulated, causing unnecessary concern among customers and stakeholders. Bharat Bank swiftly addressed and unequivocally refuted these misleading reports, clarifying that the claims were entirely unfounded. The individuals responsible for spreading this misinformation have issued formal apologies, acknowledging their errors and confirming that their reports lacked factual basis.
The bank emphasized that it is neither under investigation nor facing restrictions on accepting deposits, lending, or providing any other financial services.
A Trusted Leader in Cooperative Banking
Bharat Co-operative Bank, established as a significant player in India’s cooperative banking sector, boasts a robust business mix exceeding Rs. 18,000 crore. Ranking among the top 10 cooperative banks out of over 1,400 nationwide, it operates 101 branches and 3 extension counters spread across Maharashtra, Karnataka, and Gujarat.
The bank’s consistent emphasis on integrity, customer satisfaction, and operational excellence has resulted in more than 70 prestigious awards at state and national levels. These accolades underscore Bharat Bank’s reputation for innovation, efficiency, and superior customer experience.
Commitment to Customer Confidence and Regulatory Compliance
Addressing customers and stakeholders directly, Bharat Bank’s management and Board of Directors reaffirmed their unwavering commitment to regulatory compliance, stability, and excellence in customer service. The bank assured stakeholders that it continues to uphold its legacy as a secure, trustworthy, and customer-focused financial institution.
Despite recent challenges caused by misinformation, Bharat Co-operative Bank (Mumbai) Ltd. maintains uninterrupted operations and remains committed to enhancing its product offerings, customer relationships, and market presence.