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SVC Bank Launches SVCNXT, A New And Improved Mobile & Netbanking Facility
(MENAFN- ForPressRelease)
Mumbai, December 5, 2025: SVC Co-operative Bank Ltd. (SVC Bank, formerly known as The Shamrao Vithal Co-operative Bank Ltd.), one of India's leading multi-state scheduled banks with a legacy of 118 years, has further strengthened its digital banking ecosystem with the introduction of several new features in its mobile and internet banking platforms. These enhancements are intended to enable smoother, user friendly and more seamless and secure digital banking transactions for customers.
Amongst the array of new features, some of the key additions include Biometric Login, Face recognition (for Apple devices) which enables secure and password-free access using users fingerprint or facial recognition. This feature facilitates faster access, eliminating the need to remember complex passwords while ensuring enhanced protection against unauthorized access.
The Self-Onboarding facility allows both new and existing customers to instantly register for mobile and internet banking, anytime and anywhere. This 24x7 functionality ensures a quick, paperless start to digital banking suite, saving valuable time and effort.
To simplify payments, the Pay to Contacts feature enables users to transfer funds directly using mobile numbers of SVC bank NetBanking registered customers stored in the users contact list removing the need to recall or input account details. The result is faster, error-free transactions with greater convenience for users on the move.
With the Reserve & Schedule Funds feature, customers can plan reserve funds and automate future dated transactions, ensuring timely important payments and help better financial discipline. This feature offers peace of mind by allowing users to set aside or schedule funds for payment in advance, minimizing the risk of missed due dates for important payments.
Additionally, the Manage Nominee facility empowers customers to digitally add or update nominees without visiting a branch. This not only simplifies future claim processes but also reinforces SVC Bank's commitment to safeguarding the financial interests of its customers and their families.
Speaking at the launch, Mr. Durgesh Chandavarkar, Chairman, SVC Bank, said, "As a co-operative institution, our focus has always been to empower our customers. These digital upgrades reflect our commitment to bringing modern convenience and dependable security to every customer we serve."
Commenting on the launch, Mr. Ravinder Singh, Managing Director, SVC Co-operative Bank Ltd., said: "At SVC Bank, our co-operative ethos has always guided us to innovate with purpose and inclusivity. These new digital features are a step forward in making banking simpler, safer, and more accessible for every member of our community. By blending technology with the trust that defines the co-operative movement, we continue to strengthen our promise of empowering customers through meaningful and responsible innovation."
With these additions, SVC Bank continues to strengthen its position as one of India's leading multi-state co-operative banks, offering a perfect blend of traditional trust and modern digital convenience.
About SVC Bank
Set up in 1906, SVC Bank is a 118-year-rich institution that has contributed significantly to the development of the co-operative movement in India for over a century. Today, the Bank is one of the oldest and most recognised names in the country's co-operative banking space. SVC is a Multi-State Scheduled Co-operative Bank with its presence across 10 States & 1 Union Territory - Maharashtra, Karnataka, Goa, Gujarat, Rajasthan, Delhi, Haryana, Madhya Pradesh, Andhra Pradesh, Telangana and Tamil Nadu. Total Business of the Bank is at Rs. 39,353 Crores as on March 31, 2025 and Net Profit increased by 10.52% to reach Rs. 241 Crores. Gross NPAs declined to 1.96% while Net NPAs also substantially reduced to 0.25%. The Bank continued to strengthen its Provisioning Coverage Ratio (PCR), which has reached 87.54%. Time and again, the Bank has proven its strong fundamentals and efficiency parameters.
Amongst the array of new features, some of the key additions include Biometric Login, Face recognition (for Apple devices) which enables secure and password-free access using users fingerprint or facial recognition. This feature facilitates faster access, eliminating the need to remember complex passwords while ensuring enhanced protection against unauthorized access.
The Self-Onboarding facility allows both new and existing customers to instantly register for mobile and internet banking, anytime and anywhere. This 24x7 functionality ensures a quick, paperless start to digital banking suite, saving valuable time and effort.
To simplify payments, the Pay to Contacts feature enables users to transfer funds directly using mobile numbers of SVC bank NetBanking registered customers stored in the users contact list removing the need to recall or input account details. The result is faster, error-free transactions with greater convenience for users on the move.
With the Reserve & Schedule Funds feature, customers can plan reserve funds and automate future dated transactions, ensuring timely important payments and help better financial discipline. This feature offers peace of mind by allowing users to set aside or schedule funds for payment in advance, minimizing the risk of missed due dates for important payments.
Additionally, the Manage Nominee facility empowers customers to digitally add or update nominees without visiting a branch. This not only simplifies future claim processes but also reinforces SVC Bank's commitment to safeguarding the financial interests of its customers and their families.
Speaking at the launch, Mr. Durgesh Chandavarkar, Chairman, SVC Bank, said, "As a co-operative institution, our focus has always been to empower our customers. These digital upgrades reflect our commitment to bringing modern convenience and dependable security to every customer we serve."
Commenting on the launch, Mr. Ravinder Singh, Managing Director, SVC Co-operative Bank Ltd., said: "At SVC Bank, our co-operative ethos has always guided us to innovate with purpose and inclusivity. These new digital features are a step forward in making banking simpler, safer, and more accessible for every member of our community. By blending technology with the trust that defines the co-operative movement, we continue to strengthen our promise of empowering customers through meaningful and responsible innovation."
With these additions, SVC Bank continues to strengthen its position as one of India's leading multi-state co-operative banks, offering a perfect blend of traditional trust and modern digital convenience.
About SVC Bank
Set up in 1906, SVC Bank is a 118-year-rich institution that has contributed significantly to the development of the co-operative movement in India for over a century. Today, the Bank is one of the oldest and most recognised names in the country's co-operative banking space. SVC is a Multi-State Scheduled Co-operative Bank with its presence across 10 States & 1 Union Territory - Maharashtra, Karnataka, Goa, Gujarat, Rajasthan, Delhi, Haryana, Madhya Pradesh, Andhra Pradesh, Telangana and Tamil Nadu. Total Business of the Bank is at Rs. 39,353 Crores as on March 31, 2025 and Net Profit increased by 10.52% to reach Rs. 241 Crores. Gross NPAs declined to 1.96% while Net NPAs also substantially reduced to 0.25%. The Bank continued to strengthen its Provisioning Coverage Ratio (PCR), which has reached 87.54%. Time and again, the Bank has proven its strong fundamentals and efficiency parameters.
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