The people of Saurashtra, in Western Gujarat, began migrating to the vibrant city of Surat nearly four decades ago, seeking better livelihood opportunities due to the persistent drought conditions in their native region. Over the years, Surat—India’s renowned hub for textiles and diamonds—has become home to the Saurashtrian community. While some individuals ventured into trade, a significant number contributed their skills as laborers, particularly in the booming diamond industry.
As the Saurashtrian population grew substantially in Surat—especially in the Varachha area—it became evident that a community-centric financial institution was needed. In response to this need, and under the visionary leadership of renowned philanthropist, writer, columnist, and social reformer Shri P. B. Dhakecha, along with several dedicated individuals from Saurashtra, The Varachha Cooperative Bank Ltd. was established on 16th October 1995. The inauguration was graced by the revered revolutionary saint, Shri Swami Sacchidanandji.
Our Board of Directors comprises individuals from diverse sectors such as diamond, textile, real estate, and service industries, reflecting the rich entrepreneurial spirit of the community we serve.
Our Growth Story
At the end of our first financial year in 1996, the Bank had:
At the end of our 30th financial year in 2025, The Varachha Cooperative Bank Ltd. has grown exponentially, achieving the following milestones:
This remarkable progress over three decades is a testament to the unwavering trust of our shareholders and customers, and the relentless efforts of our team.
Technology-Driven Banking
We have consistently remained at the forefront of banking technology to offer modern, efficient, and secure services. Our key offerings include:
We have also installed Cash Recycler Machines (CRMs) across various branches, interconnected with nationwide ATM networks. This allows our customers to access more than 2.48 lakh ATMs of other banks across India, making The Varachha Co-Op. Bank Ltd. one of the first cooperative banks in Gujarat to provide such nationwide access.
Our Financial Services
Our range of financial services includes:
Multi State Cooperative Bank Status
We are proud to share that The Varachha Cooperative Bank Ltd. attained the status of a Multi State Cooperative Bank on March 23, 2023 with Area of Operation like entire state of Gujarat, Maharashtra and Union territory of Diu, Daman and Dadra and Nagar Haveli, marking a new era of growth, responsibility, and regional reach.
