The Vaikunth Mehta National Institute of Cooperative Management (VAMNICOM) organized a three-day training programme titled “Strengthening of Cooperative Credit Societies”.
Held from December 2 to December 4, 2024, the programme catered to 15 Board of Directors (BoDs) and officials from the P.D. Hinduja National Hospital Workers Cooperative Credit Society.
Established in 1985, the P.D. Hinduja National Hospital Workers Cooperative Credit Society serves its 1,298 members with an array of financial services, including short- and medium-term loans, education loans, and welfare benefits like medical claims and EPF support.
The training programme was designed to enhance the society’s operational efficiency, financial management, and governance practices to address its members’ evolving needs effectively.
The inaugural session was attended by Dr. S. Dharmaraj, Registrar, VAMNICOM, along with Dr. Amit Borkar, Assistant Professor, and Dr. Mahesh M. Kadam, Programme Director. Dr. Dharmaraj emphasized the importance of the programme, highlighting the need to strengthen cooperative credit societies’ managerial and operational capacities. He underscored the necessity of equipping BoDs and officials with the tools to address contemporary challenges in cooperative finance.
The comprehensive training agenda included sessions on governance and management of cooperative credit societies, cybercrime prevention in online banking, and updates on GST and TDS accounting provisions.
Leading faculty and experts conducted sessions on topics such as business diversification, the Maharashtra Cooperative Society Act, applications of AI in cooperatives, and innovative market strategies.
A highlight of the programme was a panel discussion on the concluding day, which explored the future of cooperative societies and encouraged participants to adopt innovative approaches.
Case study discussions and real-world scenario analyses provided practical insights, honing the leadership and accountability skills of the attendees. The event concluded with a certificate distribution ceremony.
The success of this initiative reaffirms VAMNICOM’s crucial role in empowering cooperative institutions. Looking ahead, the institute plans to expand its training offerings by integrating advanced technologies like AI and blockchain to address emerging trends in cooperative finance.
Furthermore, VAMNICOM aims to strengthen collaborations with cooperative credit societies nationwide to foster innovation, leadership, and sustainable growth in the sector.
