Most reverend Dr.Ramchandra MaharajParnerkar, a spiritual philosopher, guide and economist, had an instinct desire to have such an institution which will cater the financial services to the common and middle class people and contribute in their individual progress vis-à-vis the society as well nation. His son most reverend Shri. VishnuMaharaj Parnerkar who is also well known renowned economist and propounding the philosophy of his most respected father. He, along with other disciples, has taken pain staking efforts and established the bank with RBI approval on 9 th oct 1984 and start edits functioning on 23/2/1985 at Beed with single branch. The disciplined and dedicated functioning of the bank has placed it as one of the Renowned, strong and sound urban banks in Marathwada Region.
Presently, bank has learned board and functioning under the leadership of Dr.A.G.Nirantar,a well known medical practitioner of Beed City.The board consists of four doctors, three advocates, two chartered accountants and others are graduates and well placed in society. Out of 22 directors, 19 are elected,two are nominated as technical expert directors and one as staff representatives. The board is functioning as per the RBI directives and takes keen interest in the working of the bank, as well, takes periodical review of implementation of the decisions taken by the board. Poornawadi bank has established its name and fame in the hearts of the people of Marathwada, due to its humanity touch and best customer service to its members and clients. The bank is growing with pace of modernisation, has adopted all the modern techniques to cater the services.
The seed planted in the year 1984 has now offspring into a grown up tree having its 23 branches in 8 districts of Marathwada and Pune, Nashik, Ahmednagar. The bank, since 1995,has implemented computerisation and now it has prepared for its own Data Centre, Core Banking, ATM services and what not. The bank has a policy to be always with the innovating changes prevailing in the banking sector and always function within the framework of RBI directives. Needless to add that the bank with its learned board dedicated and trained staff will march towards the goals set. The bank is having owned premises of Head Office,Beed and Main Branch, Beed.