A brief study of Souharda Cooperative movement in Karnataka underlines the fact that the novel experiment has succeeded to a great extent. The rise in the number of its members, growth in their deposits and many other parameters, indicate a robust growth.
The Souharda Cooperative movement in Karnataka is spreading steadily. It could be seen from the fact that as of 31st March 2019 there were 4643 Souharda co-ops in the state but by 31st March 2022, it has been increased to 5534 co-ops.
The deposits and loan base of these societies were Rs 18,004 crore and Rs 14,343 crore till 31st March 2019 respectively. But by 31st March 2022, it has risen to Rs 27,352 crore (Deposits) and Rs 20,596 crore (Loans).
Besides, the profits of these societies have been increased to Rs 264 crore (31st March 2019) to Rs 365 crore (31st March 2022). The reserves rose from Rs 1886 crore to Rs 2,270 crore. As of 31st March 2019, there were 1240 but now there are 1505 e-stamping centers, according to the data released by the apex body of Souharda co-ops- Karnataka State Souharda Federal Cooperative Ltd (KSSFCL).
It bears recall that KSSFCL entered into a Memorandum of Understanding (MoU) with Stock Holding Corporation of India Ltd (SHCIL) for facilitation of e-stamping centers across Karnataka through identified locations/ outlets in the month of February 2010.
The primary objective was to ensure a timely and convenient method of supplying e-stamps for various purposes to the members and the general public, who had extreme difficulty in getting genuine stamp papers, in the light of the Stamp Paper scam that hit many states, including Karnataka.
The apex body is also organizing many training programs for the officials, directors and others of Souharda co-ops. The KSSFCL has been successfully working through its Head Office in Bangalore and four Divisional Offices at Belgaum, Gulbarga, Bangalore & Mysore for effective administration and professional management of its member cooperatives. It has District offices and district Souharda development officers in all Districts of Karnataka.
It is worth mentioning that a separate court has been sanctioned by the State government for souharda co-operatives for resolution of disputes.