ABSTRACT:Cooperative banks play a significant role in the Indian banking system, especially in semi-urban regions like Vasai–Virar. These banks operate on cooperative principles and focus on providing affordable and accessible financial services to local communities. This research paper examines the role of cooperative banks in offering home loans and non-home loans in the Vasai–Virar area, which has experienced rapid urbanization and population growth in recent years. The study analyzes the structure, features, and accessibility of home loans such as housing purchase, construction, and renovation loans, along with non-home loans including personal loans, vehicle loans, business loans, and gold loans. Cooperative banks like Vasai Janata Sahakari Bank Ltd and Vasai Vikas Sahakari Bank Limited have played a crucial role in fulfilling the credit needs of middle- and lower-income groups by offering flexible lending terms and community-based banking services. The research is based on secondary data sources such as bank reports, websites, and regional financial trends. It highlights that home loans are in high demand due to increasing housing needs, while non-home loans support small businesses and personal financial requirements. The findings reveal that cooperative banks offer advantages such as lower interest rates, personalized service, and simplified procedures. However, they also face challenges such as limited digital infrastructure, risk of loan defaults, and competition from commercial banks. The study concludes that cooperative banks are vital for financial inclusion in Vasai–Virar. Strengthening technological adoption, improving transparency, and enhancing risk management practices can further improve their performance and sustainability in the evolving financial ecosystem.
KEYWORDS: Cooperative Banks, Home Loans, Non-Home Loans, Financial Inclusion, Vasai–Virar, Housing Finance, Personal Loans, MSME Loans, Loan Performance, Banking Sector, Urbanization, Credit Facilities, Cooperative Banking, Loan Accessibility, Economic Development
A STUDY ON HOME LOANS AND NON-HOME LOANS PROVIDED BY COOPERATIVE BANKS IN VASAI–VIRAR AREA
ASST.PROF. ELAKSHI ASHUTOSH KHETAL , DR. VISHNU YADAV