The Maharaja Bank was initially established by 1,530 shareholders, the bank has served as a financial solution for various sections of society, particularly benefiting the poor and middle-class communities. Over its 24-year journey, the bank has garnered trust and expanded its reach. As of October 31, 2024, The Maharaja Bank is progressing with a share capital of ₹15.10 crores, contributed by 4,582 shareholders.

Deposits: By the end of its first financial year (March 31, 2001), the bank had accumulated ₹10.96 crores in deposits from 1,516 depositors. As of October 31, 2024, the bank’s deposits have risen to ₹281.24 crores, serving 9,631 depositors. One notable initiative, the Maharaja Yuva deposit scheme, introduced in 2022, encourages young people under the age of 25 to save with the bank. This scheme offers interest rates equivalent to those provided to senior citizens.

Loans: The bank adheres to a credit and investment policy aligned with Reserve Bank of India (RBI) regulations. Legal opinions are sought from experienced lawyers, and valuation reports are obtained from engineers for real estate loans. As of March 31, 2001, the bank had disbursed ₹5.46 crores in loans. To date, this has increased to ₹206.20 crores, in line with the bank's priorities to support sectors identified by its Board of Management.

Recognition as a Tier-II Bank: Co-operative banks are classified by the RBI into four tiers based on deposit size. Maharaja Bank has been recognized as a Tier-2 Co-operative Bank since 2016, as its deposits are between ₹100 crores and ₹1,000 crores.

Expansion of Bank Branches: The bank’s first branch was opened in Visakhapatnam on May 5, 2000. Over the years, the bank has expanded its branch network across multiple locations. It opened its second branch in Gajuwaka in 2014, followed by branches in Butchirajupalem, Madhurwada, and MVP Colony. After a hiatus due to RBI restrictions, the bank resumed opening branches in 2023. Notably, it expanded to new locations such as Sujathanagar (May 2023), Kakinada Bhanugudi Junction (June 2023), Kurmannapalem (February 2024), Tuni (August 2024), and Anakapalle (December 2024), reaching a total of 10 branches across the state.

Awards and Recognition: Maharaja Bank has consistently received awards for its performance in cooperative banking. It has been honoured annually since 2019 at the national level business competitions organized by Banco Blue Ribbon. The bank has also received two awards in the Best KYC Initiative category at the Frontiers in Cooperative Banking Awards by Banking Frontiers. Additionally, it was named the Best Cooperative Bank in Andhra Pradesh at the Bharath Sahakaritha Samman-2024.

Deposit Insurance: Depositors in the bank are covered by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the RBI, which guarantees up to ₹5 lakh insurance for each depositor. The bank regularly pays insurance premiums of 12 paise per ₹100 twice a year.

Social Responsibility: The bank also contributes to social welfare by providing incentives to children of staff and members who score over 90% in their 10th and intermediate exams. Additionally, donations are made annually to orphanages, charities, welfare institutions, and temples.

Area of Operation: Initially, the bank’s operations were confined to Visakhapatnam district. Over time, it expanded to Vizianagaram, East Godavari, Srikakulam, West Godavari, and Krishna districts. In 2024, the bank received approval from the Co-operative Department and RBI to expand its operations throughout the state of Andhra Pradesh.

Looking ahead, Maharaja Co-operative Urban Bank aims to continue its expansion and contribute to the social and economic development of the region, ensuring that people from all walks of life benefit from its financial services.