In a move aimed at strengthening cooperative credit outreach, Maharashtra’s Kopargaon-based Sudhan Gold Loan has entered into a strategic partnership with Buldana Urban Credit Co-operative Society Ltd, one of Asia’s largest cooperative credit institutions with a business size exceeding Rs 23,000 crore.
The collaboration was formalised through the signing of a Memorandum of Understanding (MoU) to expand and modernise gold loan services within the cooperative ecosystem. The initiative seeks to combine the institutional credibility and extensive branch network of Buldhana Urban with the technology-driven, customer-centric approach of Sudhan Gold Loan.
The MoU signing ceremony was attended by Buldana Urban Founder Radheshyam Chandak, Mohan Dalal and Sandeep Koyate.
Under the partnership, both institutions aim to enhance operational efficiency in gold-backed lending by ensuring faster loan processing, greater transparency and wider access to secured credit for borrowers.
Speaking to Indian Cooperative, Sudhan Gold Loan founder Sandeep Koyate said the initiative will begin with a pilot phase across around 90 branches of Buldana Urban in different parts of Maharashtra. “The trial phase will run for about three months, after which the service will be rolled out across the entire branch network,” he said.
Koyate added that the partners aim to build a gold loan portfolio of around Rs 200 crore within the first six months of operations. The business will operate in compliance with Reserve Bank of India guidelines under the Business Correspondent and Business Facilitator framework.
The partnership marks a significant step towards formalising and digitising gold lending services within India’s cooperative sector.