At CoopKumbh 2025 in New Delhi on Tuesday, Dhananjay Tambekar, Managing Director of Godavari Multi State Cooperative Credit Society, strongly advocated for the creation of an umbrella organization for credit cooperatives and multi-state credit societies, similar to that of urban cooperative banks (UCBs).
Highlighting the impressive growth of Godavari, which now operates over 100 branches with a business volume exceeding Rs 5,000 crore, Tambekar said the cooperative sector deserves greater recognition and structured support. “Cooperative societies are often viewed with skepticism, but our consistent growth proves their strength and credibility,” he noted.
Tambekar emphasized the need to define the roles and responsibilities of sales officers, who play a vital role in cooperative operations. “We have received an effective tool from the CRCS office, but the role of sales officers within this framework remains undefined. There should be clear rules for their functioning,” he said.
He urged NAFCUB to expand its scope beyond banking cooperatives and focus equally on credit cooperatives, suggesting that multi-state credit societies be organized to conduct training and capacity-building programs for their staff.
Tambekar further demanded NPCI membership, CIBIL linkage, and depositor insurance on the lines of DICGC for credit societies, stating that membership and recovery processes applicable to cooperative banks should also extend to multi-state credit cooperatives.
“These reforms will not only enhance transparency and accountability but will also strengthen the credibility and resilience of the credit cooperative sector,” Tambekar concluded.
