Co-op societies need to adopt modern technology’

Source: The Hitavada      Date: 27 Oct 2017 09:42:34


Business Bureau,

THE co-operative movement in the country has completed more than 100 years of existence and over the years it has immensely contributed in the development of the economy. But people have started to lose faith in the sector due to financial irregularities and mounting NPAs.

“The co-operative movement needs to be strengthened and one way is by adopting modern technology,” said Dr Shekhar Charegaonkar, Chairman of the Maharashtra State Co-operatives Council while talking at the ‘Co-operative Conference (Sahakar Parishad)’ to celebrate the birth anniversary of Pandit Deendayal Upadhyaya on Thursday.
The conference was organised by the District Deputy Registrar Co-operative Society, Nagpur in association with Sahakar Bharati, Nagpur at the conference hall of Shikshak Sahakari Bank, Nagpur.

He said that the co-operative societies and banks should adopt modern technology and professionalism in their working to stay competitive against the private sector. They should introduce technical solutions like NEFT, ATMs, Net banking, core banking, SMS updates, etc. This would bring transparency in their working and members would start to trust the society. Furthermore, the directors would have to change their mindset, think and look at the way the private
sector operates and chalk out future plans.

“It is important to note that there are more than 17,000 ‘path sansthas’ with deposits of Rs 59,000 crore,” he pointed out.
The co-operative societies and private limited companies were similar in various respects as both raised capital by issuing shares to the people. “It is very important that the directors update their knowledge as the Government introduces new policy from time to time,” he noted.

The co-operative societies should be flexible in their working and adopt best practices in management and operations. To help members, the co-operative societies should open the Goods and Services Tax (GST) and Income-Tax counters in their premises to provide useful information. The directors should start thinking on how to improve their performances, he added.

Kanchan Gadkari, Chairperson of Samruddhi Co-operative Bank, said that the ‘Mahila Bachat Gats’ produced various products but required proper guidance on branding, improve quality and market products. This, in turn, could fetch better price for products and increase their income. With higher incomes, they would be able to stand on their feet and live a respectable life.

Neelkanth Devangan, Organising Secretary of Sahakar Bharati, Maharashtra Pradesh said that Pandit Deendayal Upadhyaya was a great social worker and had contributed immensely towards the society.

Kakasaheb Kokate, Chairman of the Maharashtra Rajya Path Sanstha Federation, Mumbai also said that the co-operative movement needed to be strengthened in Maharashtra. He said that by introducing modern technology, co-operative societies could also play an important role in making Prime Minister Narendra Modi’s dream of cashless economy successful.

Prominently present were Sudarshan Bhalerao, Deputy Working Chairman, Organising Secretary of Sahakar Bharati, Maharashtra Pradesh, Dr Mukund Tapkir of Sahakar Bharti, Kakasaheb Kokate, Chairman of Maharashtra Rajya Path Sanstha Federation, Mumbai, Satish Bhonsale of District Deputy Registrar Co-operative Society, Nagpur, Prakash Lonare, Chairman of Vidarbha Department of Fisheries Sahakar Sanstha Maryadit, Nagpur and others in large numbers.