In a major development, Maharashtra’s Kopargaon-based Samata Nagari Sahakari Patsanstha Ltd. has secured a Rs 100 crore funding sanction from the National Cooperative Development Corporation (NCDC), providing a significant boost to its expansion plans, particularly in gold lending.
The sanction letter was handed over by Giriraj Agnihotri, Regional Director, NCDC, Pune, in the presence of Samata’s Board of Directors. The funding follows the institution’s four decades of operations, recovery performance and support for other cooperative credit societies.
Chairman Omprakash Dadappa Koyate said the institution would focus on providing affordable gold loans to farmers, especially amid drought-like conditions. Vice-Chairman Arvind Patel highlighted the society’s recovery mechanism, rising gold loan disbursements and customer confidence.
During his visit, Agnihotri reviewed Samata’s technology-driven initiatives, including its liquidity-based protection scheme, call centre, forensic audit control room and voucherless banking system.
A key highlight is ‘Sahakar Basket’, an ambitious initiative envisioned as a “Mini Amazon” for cooperatives. The platform aims to create a common marketplace for cooperative institutions across India, with NCDC’s support.
General Manager Sachin Bhattad said the funding would strengthen Samata’s business while supporting initiatives benefiting the wider cooperative sector. The sanction marks an important milestone in the institution’s 40-year journey.
