After waiting nearly an hour for Advani to grace the silver jubilee celebration of the Vidya Sahakari Bank today, the packed audience was immediately charmed by the Home Minister who praised the co-operative banking movement in Maharashtra and Gujarat, comparing it to Northern India, where, he said, ``co-operative banking is still not a very respected word.''

``This is the first time I have come across a co-operative bank associated with education,'' he said, adding that education was the most important factor in a nation's development.

Fifteen people from the co-operative banking sector, selected by the Vidya Sahakari Bank, were felicitated by Advani. He performed the bhoomipujan of the new main building of the bank.

The Vidya Sahakari Bank, started by a group of teachers in 1974, has eight branches in Pune and has crossed Rs 250 crore in deposits, said Shreekant Deo, vice-chairman of the Bank. Chairman Vidyadhar Annaskar proposed the vote of thanks.