SVC's Chief Executive Officer, BS Shenoy said, "The mortgage loan scheme is designed, specially to offer instant solutions relating to business or personal needs, higher education of children, medical emergencies. This scheme strengthens our wide-ranging portfolio of products and highlights our ability to deliver the best in class customer services".

The minimum amount of the loan varies from Rs one lakh to maximum of Rs 10 lakhs for individuals against property, and up to 20 times of the gross salary of Rs ten lakhs, whichever is lower, with a minimum of Rs one lakh for salaried borrowers. The rate of interest charged is 15.75 per cent per annum on reducing balance. The loan together with interest is repayable in maximum 60 equal monthly installments and it normally should not exceed 60 per cent of the gross income.

The banks turnover exceeds Rs 1,700 crore and it is amongst one of the first banks to be awarded the `scheduled bank' status by the RBI. The bank also recently introduced a trio of finance schemes, namely the `own your office',`asset finance' and `good homz', which cater to the diverse needs of the customer.

According to agency reports, the Bombay High court has come down heavily on a Cooperative Bank for allegedly indulging in malpractices in recruitment of staff, The High court has struck down appointments of 29 clerks and 23 peons and ordered fresh recruitment by July end. The court set aside the recruitments of clerks and peons made by Kurla Nagrik Sahakari Bank between August 24, 1999 and January 10, 2000 and said the written test was a "farce" as half of the recruits were closely related to the directors.