The Laxmi Co-Operative Bank Ltd, Solapur was established in Solapur on 6th June 1929 with the contribution of some successfully advocates. In which advocate Late Ganesh Dadaji Punde, advocate S.N. Jamadar, Dr. K. B. Antrolikar were actively involved. It is well said that Goddess Laxmi is the god of money every religion is the faith on the god. Due to this reason the name of bank is given as The Laxmi Co-Operative Bank Ltd, Solapur. This was successfully registered on date 6th June 1929 by Bombay Co-Operative Society Act. It was given the registration number as 6464 advocate Late Ganesh Dadaji Punde was the first president as well as the main founder of bank.
Laxmi bank was the solapur's first Nagari Sahakari Bank, Which help the people and the people’s faith started growing with this bank. The bank provided financial needs from small work groups to large scale industries even though bank provided loan schemes to the people.
They had their aim the profit which was earned will be lead to society advantages. The bank has always focused towards social welfare. On 1 July 1934 the bank had on historic moment. One of the member of bank Honorary Auditor Shri. Sitaram Ganesh Sathe said that the loan should not be taken by the directors with this aim the directors had restriction on themselves and is still being followed.
On 10th March 1939 loan was being given on gold and silver. On 1st Aug 1963 the bank briefly worked on this. In 1964 Bills Discounts loan was established. The first branch of this bank was established in Sakhar Peth on 26th Oct 1965. On 27th Feb 1966 the bank had its second branch in Akkalkot. The Reserve bank did its first inspection in the year 1968. The bank completed it's successful 49 Years on 6th Sept 1978 and be gain to Golden Year. On this successful era large and enlightened occasion was celebrated.
Social Commitment :
The Laxmi Co-Operative Bank Ltd, Solapur has from inception committed itself to the social cause. In 1961 when Solapur was engulfed in flood, Bank provided financial support to the victims. In 1987 Maharashtra was reeling under draught, in most parts there was acute shortage of food, water, fodder for animals.
The Laxmi Co-Operative Bank Ltd, Solapur recognizing need to overcome this situation had collected funds in large scale. Drought relief committee was formed with participation from Shareholders, customers and employees. Through this committee drought relief work like providing food to students, camp for animals etc. was done. Drinking water facility was provided at Dhamapur and Gowalwadi villages in Sangameshwar in Ratnagiri district. For this purpose 3200 foot pipeline was led and a water tank was constructed.