About Us

Who We Are

Subhadra Local Area Bank was incorporated on July 10, 2003 and received a banking licence from RBI to work as a Local Area Bank in the districts of Kolhapur, Satara, Sangli, Belgaum & Pune.

The Reserve Bank of India (RBI) on December 24, 2020, has cancelled the Banking Licence of Subhadra Bank. An Appeal has been filed by the Bank against RBI's decision. The outcome is awaited.



The Bank is head quartered in Kolhapur. Subhadra Local Area Bank is professionally managed by a well qualified team which has a vast and diverse experience across the industry. The bank is well capitalised, and the surplus funds of the bank are deployed in government securities and deposits with reputed banks, in accordance with the extant guidelines of the Reserve Bank of India.


The Bank also offers convenient services like Door Step Services for Cash pickup / Delivery, Document pickup for banking transactions and much more.


Subhadra Bank has deployed the latest in terms of technology available in the market. It has a modern Core Banking Platform which provides the customers the best in class service that they deserve.

The New Age Bank with latest technology to deliver superior services


Board of Directors

Mr. Suhas N Sahakari

Non Executive Part Time Chairman (Designate)

Suhas is a career banker with a varied work experience spread over 37 years, including a large PSU ( SBI ), start up private sector ( UTI/Axis ), turnaround ( Ratnakar to RBL ) and a cooperative bank ( Shamrao Vithhal Cooperative Bank) .

Suhas is a career banker with a varied work experience spread over 37 years, including a large PSU ( SBI ), start up private sector ( UTI/Axis ), turnaround ( Ratnakar to RBL ) and a cooperative bank ( Shamrao Vithhal Cooperative Bank) .

Mr. AmitKumar Amritlal Solanki

Non Executive Director

Amit is a graduate in commerce and Practicing Chartered Accountant having 13+ years of Experience in Accountancy and Finance domain for handling taxation matters, conducting of concurrent audits, advisory and consultancy services to various organisations for interest, currency arbitrage and hedging methods.

Mr. Vijay Anant Puranik

Non Executive Director

Vijay is a post graduate in agricultural sciences and has Agri and Rural Banking as career. He has established and developed recoverable and quality Agrifinance business in two large private sector banks. He was major contributor for the first computerised branch of an RRB in India and its turn around after 12 loss making years since inception.

He is known for his team-building and teaching passion among circles throughout his career of over 3 decades.

According to him, use of technology while remaining customer centric is the key to survive and grow >

Management Team

Jai Jingar

Chief Compliance Officer & Key Management Person

Joined the Bank in April 2020. An experienced Regulatory Compliance professional with 30+ years of exposure to all spheres of banking.

Earlier assignments included retail, commercial and rural banking with a large Public Sector Bank, a Bank Examiner and electronic payment systems specialist with the RBI, a Regulatory Affairs and Group Head of Compliance with two large multinational foreign banks. He is the bank’s principal contact with the regulator with the responsibility to build close relationships with RBI and ensure that the Bank is compliant with all the regulatory requirements during our consolidation and growth phase

Sunil Bhandwale

Interim CFO & Head of Treasury

Joined the Bank in 2012 and is person with maximum years of experience in this Bank within the Management Team. He is a veteran Banker with over 35 years of banking experience in various co-operative banks in and around Kolhapur.

He is a key resource and brings to us the most extensive knowledge on the local businesses & markets and the overall administrative working, regulatory reporting and other areas including accounting and finance.

Amol Shaiwale

Head of HR & General Administration

Joined the Bank in January 2019. He has experience in the area of sales and business development with multiple private sector banks. He has currently taken up the role of Head of HR and also looks after General Administration for the Bank. Amol is committed to ensure that the organisation remains fully capacitised and ready for all new and growing businesses and do well in the times to come.

Shweta Swapnil Sant

Head of Credit & Recovery
Branch Manager - Kolhapur Main & Laxmipuri

Shweta joined the Bank in February 2020. She had worked with Subhadra Bank earlier also as Branch Manager, Ichalkaranji Branch and Credit Manager. She has experience in the area of sales and business development, including as Branch Manager and Credit Approver with various private sector banks. She is currently working as Head of Credit & Recovery besides Branch Manager of Kolhapur Main & Laxmipuri. She is committed to ensure that the organisation grows on businesses front and excel in future.