Mumbai based Dnyandeep Co-operative Credit Society, one of Maharashtra’s leading credit cooperatives, announced the launch of franking machine services for its members at its 46th Annual General Meeting (AGM) held on Sunday in Mulund.
With this, Dnyandeep Co-op Credit became the first credit society in the country to introduce such services, enabling easier access to stamp duty and legal documentation facilities ranging from Rs 500 to Rs 5,000.
The AGM was chaired by Society Chairman Jijaba Pawar and attended by MLC and Mumbai District Central Co-operative Bank Chairman Pravin Darekar as chief guest. Lauding Dnyandeep’s achievement of crossing a business mix of Rs 6,558 crore in FY 2024–25, Darekar described it as a model institution setting benchmarks in financial discipline and member-centric growth.
Vice-Chairman Chandrakant Dhamal presented the financial report, highlighting that membership has grown to 3,05,682. The Society’s share capital stood at Rs 154 crore, reserves at Rs 528 crore, deposits at Rs 3,670 crore, and loans outstanding at Rs 2,888 crore. Investments of Rs 1,321 crore reinforced prudent fund management, while net profit stood at Rs 45.39 crore.
Importantly, Dnyandeep Co-op Credit Society maintained a 0% Net NPA with provisions of Rs 181 crore.
Members approved key resolutions including adoption of revised model by-laws, branch expansion, enhanced loan limits, revised interest rates, and the proposed merger of Mumbai-based Vighnahar Credit Society. An 11% dividend was declared and disbursed.
The AGM concluded with a vote of thanks, as members praised the leadership and vision of the management team.
