The apex body of Maharashtra’s credit cooperatives, MAFCOCS, organized a gala event on Saturday at the iconic Ramoji Film City in Hyderabad, attended by key figures from Maharashtra’s credit cooperatives.
On this occasion, NAFCUB Vice-Chairman and Cosmos Bank Chairman Milind Kale was the distinguished guest. In his speech, he announced plans to provide IT and technology support to the credit cooperatives of Maharashtra through Cosmos E-solutions & Services, a fully owned subsidiary of the Cosmos Co-operative Bank.
“This move aims to empower credit cooperatives with advanced technological tools and solutions, enabling them to enhance their operational efficiency and member services. With the integration of cutting-edge banking software, mobile applications, and secure online transaction platforms, cooperatives can offer modern, convenient services to their members,” he added.
Omprakash Dasappa, also known as Kaka Koyate, the mild-mannered Chairman of MAFCOCS, urged the credit cooperatives of Maharashtra to engage in social services. He emphasized that their mission is not to earn profit but to cater to the needs of the local community at the grassroots level.
In his speech, Kaka Koyate provided examples of various credit cooperatives in Maharashtra that have diversified their businesses and contributed to women’s empowerment.
He highlighted several initiatives undertaken by his own credit cooperative, Samata Nagari Cooperative Patsanstha, to benefit the local community in Kopargaon, Ahmednagar. Koyate mentioned the establishment of Sahakar Udyog Mandir, Sahakar Mini Mall, and other ventures aimed at enhancing local development and supporting the community.
Additionally, Koyate noted that many leading private companies in India provide gold loans at high interest rates, while the interest rates offered by credit cooperatives are much lower.
Rajshree Patil, Chairman of Godavari Multi-State Credit Cooperative Society, delivered an inspiring speech that stole the show. She highlighted the transformative impact of credit cooperatives on rural communities and spoke about the need for innovation and adaptability in the cooperative sector. Patil urged members to embrace new technologies and business models to stay relevant and effective in meeting the needs of their members.
Patil shared success stories from the Godavari Multi-State Credit Cooperative Society and called for greater collaboration among credit cooperatives across Maharashtra. She urged them to share best practices, support each other’s initiatives, and work together towards common goals.
The full-day event concluded with multiple sessions, marking a significant step forward for the credit cooperatives of Maharashtra. Expert speakers shared their experiences and best practices, encouraging lively discussions and networking among participants.
Around 75 credit cooperatives from Maharashtra were felicitated during the event for their outstanding performance. Among the leading credit cooperatives honored were Mumbai-based Shree Kulswami Credit Cooperative Society, Shivkrupa Credit Cooperative Society, Parijat Credit Cooperative Society, and others.
Veeracharya Babasaheb Kuchnure Jilha Nagari Sahakari Patsanstha Chairman Shashikant Rajoba anchored the event efficiently.
