Mahanagar Co-Operative Bank is a scheduled co-operative bank. It was established under the name of “The Ahmednagar Sahakari Bank Ltd.” on th October 97. The name was changed to “The Mahanagar Co-operative Bank Ltd.” from st January 998, and on 0th January 998, it secured ‘A’ grade classification from Reserve Bank of India. The bank was initially set up to provide financial assistance for Mill workers, Dock workers, Fruit, Vegetable and Flower vendors, Fish vendors, small number of shop keepers, and self-employed persons near greater Mumbai.