Omprakash Dadappa alias Kaka Koyate has been re-elected unopposed again as the Chairman of Maharashtra State Cooperative Credit Societies Federation (MAFCOCS) with his deputy Dr Shantilal Tejmal Shingi, in an election held on Tuesday.
Koyate has been elected for the 4th consecutive term in a row. Shingi replaced Rajudas Jadhav. As soon as the names of top functionaries were announced, the other elected directors of the federation garlanded them. The social media is also flooded with congratulatory messages.
Later, talking to the Indian Cooperative Koyate thanked the board members for reposing faith in him and for giving him a big responsibility again. “We will work together to take the federation to newer heights and will raise issues pertaining to the credit cooperative sector”.
Koyate further said, “There are several issues related to the credit co-ops which need to be resolved sooner than later. The issues are–a body like DICGC should be set up at the national level for credit co-ops, simplification of the recovery process, Income Tax exemption to credit societies and others”
Koyte has served as Director, Joint Secretary, General Secretary since 1990. He has been working as president for the last 14 years. He is also heading the Samata Co-operative Credit Society as the Chairman. Samata, which is the leading Co-operative Credit Society of Maharashtra, has Jurisdiction in the entire state of Maharashtra along with a business exceeding Rs. 1000 crore.
Moreover, Koyte is also the sole representative of all the Co-operative Credit Societies of India in the ‘Association of Asian Confederation of Credit Unions’ (ACCU) which is the International Organisation of Co-operative Credit Societies of Asia.
MAFCOCS is the apex body of credit cooperatives of Maharashtra. There are around 16,000 credit co-operative societies in Maharashtra over two crore people in Maharashtra directly communicate with this Co-operative movement through two lakh daily collection agents.
Its significance can be gauged by from the fact that there are over 1.5 crore members, and more than 2.25 lakh officers and approximately 4.5 lakh employees in the co-operative credit movement of Maharashtra
The Co-operative Credit Societies of Maharashtra have deposits of over Rs. 1 lakh crore and have distributed loans over Rs. 70,000 crores.
The MAFCOCS started the ‘Stabilization and Liquidity Base Protection Fund’. Due to this scheme, 75 to 95% of deposits from the depositors would be protected. On the state level, the work of the recovery of loans is also undertaken by MAFCOCS.