Pune, August 12: The Pune District Central Cooperative Bank Ltd. has achieved its target of raising ₹500 crore through Long-Term Subordinate Bonds (LTSB) ahead of the stipulated deadline, marking a significant milestone in the history of District Central Cooperative Banks in Maharashtra.

The sale of LTSB and PDI bonds was formally launched on July 22, coinciding with the birth anniversary of late Ajitdada Pawar, at an event held under the auspices of Mr. Vidyadhar Anaskar, Administrator of the Maharashtra State Cooperative Bank.

As per the permission granted by the Reserve Bank of India and the State Government’s approval allowing urban and rural non-agricultural credit societies in Pune district to invest 5% of their mandatory 25% SLR investment in the bank’s bonds, the Pune District Central Cooperative Bank initiated the bond issue.

According to Prof. Dr. Digambar Durgade, Chairman of Pune District Central Cooperative Bank, the bank achieved the ₹500 crore LTSB bond sales target well before the stipulated period. He said that, in the history of District Central Cooperative Banks in the state, Pune District Central Cooperative Bank is the only district bank to have achieved such a large target within such a short period.

The LTSB offers a 10-year investment period, with a minimum investment of ₹10,000 and an attractive 8.50% interest rate, with interest credited to the investor’s account every three months. The strong response from various cooperative institutions, including Primary Agricultural Credit Societies (PACS), other cooperative organisations, depositors, investors and members, reflects the strong confidence they have placed in the bank, Durgade said.

He credited the guidance of Maharashtra Deputy Chief Minister Smt. Sunetra Pawar, Agriculture Minister Dattatray Bharane and former Cooperation Minister and MLA Diliprao Walse Patil, along with the tireless efforts of the bank’s directors, senior officers, employees, office-bearers and secretaries of various cooperative societies, for the successful completion of the bond target.

As of March 2026, the bank had deposits of ₹17,189 crore and a total business turnover of ₹30,767 crore. Through its 294 branches across the district, the bank has disbursed loans amounting to ₹13,578 crore across various categories.

The bank reported a gross profit of ₹461.34 crore and a net profit of ₹78.78 crore during the financial year ending March 2026.

Durgade said that members, depositors, borrowers and well-wishers have played a crucial role in strengthening the bank’s financial position. He added that their continued trust and support had enabled the bank to achieve the landmark ₹500 crore LTSB bond target and record bond sales ahead of schedule.