Thane is a city in the northwestern side of Maharashtra, around 25 kilometers away from Mumbai. Just like Mumbai, Thane experiences a humid tropical climate with heavy rainfall during monsoon. An immediate neighbor of Mumbai, Thane, is an extremely populous urban agglomeration with nearly two million residents. It is a part of the huge Mumbai Metropolitan Region. Being more of a residential city, the people of Thane mostly work in the service sector of the Mumbai Metropolitan area. Thane generates the fifth largest GDP in the state. Thane holds great records of history. Indias first railroad was laid in Thane and it was the terminus for Asias first ever passenger train which was inaugurated on 6th April 1853. The train connected a stretch of 34 kilometers from Thane to Colaba. The city has rapidly developed and is now well-connected with several neighboring suburbs and other cities through railways as well as roadways. With a handsome share of skyscrapers and plenty of amenities, Thane has become one of the most well-developed and well-planned cities in Maharashtra. Thane provides a great number of opportunities as well as a lifestyle similar to Mumbais. Thane is away from the cacophony of Mumbais city life, yet it is near enough to feel Mumbais lively vibes.
The Shamrao Vithal Co-op. Bank Ltd. or SVC Cooperative Bank Limited, is a banking company incorporated under the Companies Act, 1956 a scheduled bank, and one of the oldest Urban Co-operative Bank in India built in 1906. The bank was set up when co-operation was just started in the country. It was established with the primary aim of helping the less fortunate members of the community under the ambit of its economic enterprises. It was also to encourage savings and to create funds for providing financial aid to deserving members.Mr. Rao Bahadur Shripad Subbarao Talmaki was the chief architect of the Bank. The Bank was initially registered as a Co-operative Credit Society on 27 December 1906. The Bank is present in 10 States of India. Maharashtra, Karnataka, Tamil Nadu, Telangana, Delhi, Rajasthan, Haryana, Goa, Gujarat and Madhya Pradesh. In 1907, cumulative deposit scheme, fixed deposit scheme and saving bank deposit were introduced by the bank. After that in 1911, the facilities for remittance were made available to the members by the draft. In 1913, the cash credit scheme was introduced by the bank. In 1956, facilities were thrown open to all communities. In 1988, the Shamrao Vithal bank was conferred the scheduled bank status.