In a welfare-driven initiative, Ahmednagar (Maharashtra) based Shri Sant Nagbaba Multistate Cooperative Society has granted interest-free loans of Rs 4 lakh each to two of its employees recently.
Under this scheme, Nitin Garude, Branch Manager of the Gangapur Branch, and Ms. Vrushali Gade, Assistant Branch Manager of the Rahuri Branch, were the recipients of the financial assistance.
The loan distribution ceremony was graced by the presence of Kadu Bhau Kale, Founder of Nagbaba Multistate; Jagtap, Chairman of Vaishnavi Multistate; board members; and other dignitaries.
The interest-free loan scheme, in operation for the past five years, has benefited many employees. It has enabled them to build homes, manage family functions, cover medical expenses, and support their children’s education.
Launched under the guidance of Kadu Bhau Kale, the scheme offers loans ranging from Rs 50,000 to Rs 4 lakh without any paperwork or processing fees. The aim is to provide swift and accessible financial support during times of need.
Speaking on the occasion, Founder Kadu Bhau Kale highlighted that the core vision behind establishing Nagebaba Multistate was to ensure that every cooperative member and employee is financially and socially empowered. He also announced plans to increase the maximum loan limit to Rs 10 lakh in the near future.