The Annual General Meeting of Delhi-based Sanchay Cooperative and Urban Thrift Society was held at Madanpur Khadar recently, in which it was revealed that the co-operative meant for poor has earned handsome profits.
Famous for working for the downtrodden sections of the society, Sanchay Co-op has domestic workers, Street Vendors, Shopkeepers, Labour, Small Pvt Jobbers, and such people as its members. NCUI Executive Director Ved Prakash Setia was the Chief Guest
The Sanchay Cooperative and Urban Thrift Society mostly works in areas such as Krishna Nagar, Jagatpuri, Mandawali, Vinod Nagar, Nehru Camp, Trilokpuri, Acharya Niketan, Kalyanpuri, Madanpur Khadar, and Harikeshnagar of Delhi.
Formed in 2008, the Cooperative has always stood in support of informal workers by providing them financial security in times of crisis. During Covid, the society ran vaccination camps and distributed dry ration kits and hygiene kits among its members.
Operating out of Khadar, there are 3970 members in total out of which 1037 members joined the cooperative during the first wave of the Covid pandemic. In FY 20-21, Sanchay loaned 1,80,40,000 rupees benefitting 441 of its members and their families. The society earned a profit of more than 25 lakh this year.
Speaking on the occasion Ved Prakash Setia Executive Director, NCUI appreciated the efforts of the management and congratulated the members for tremendous growth during the short span of 13 years.
Setia talked about the benefits of Cooperative and informed about the activities of NCUI and discussed some of its new initiatives including NCUI haat, floated for vulnerable people like artisans working within the co-operative fold.
It bears recall that Setia is a well-known face in Delhi co-operative circles who has the distinction of having served many Chairmen of NCUI. He is also assisting the present Chairman Dileep Sanghani.