Vaikunthbhai served the Bombay State Cooperative Bank, now Maharashtra State Cooperative Bank as Chief Executive for an uninterrupted period of about 35 years.
He was the Minister of Finance and Cooperation of the then Bombay State and was the first Chairman of Khadi and Village Industries Commission.
[1] The contribution of Vaikunthbhai Mehta to the cause of Cooperative Education and Training was pioneering and foundational.
[1] As a tribute to and memory of the great Cooperative leader and philosopher, the national Institute has been named after him, as Vaikunth Mehta National Institute of Cooperative Management (VAMNICOM) in Pune, Maharashtra state, India.
The Vaikunth Mehta National Institute of co-operative Management (VAMNICOM) is conceived as an intellectual nerve centre for the co-operative movement and has been functioning as the apex management training institute for over 50 years, catering to the management development, training, research and consultancy needs of various co-operative organisations, government departments and other national bodies.