The Union Co-operative Society Limited has appointed CA Ahmed Ayaz Faizabadi as its new Chairman for a three-year term, local news outlets say.
Established in January 2023, the society serves about 4,000 account holders, offering interest-free micro loans to fight poverty and deposit facilities for businesspersons to support the underprivileged.
With a current balance sheet of Rs 2 crore, Ayaz targets Rs 10 crore in three years. So far, 240 beneficiaries have used its services, including pigmy deposits. Outgoing president Azam Khan Pathan will remain on the 13-member board.
