Rumours about “Biggest Co-operative Scandal by Mukesh Modi’s Adarsh Credit” Fail to Break the Trust of People

The unimaginable faith that the members have on Mukesh Modi’s Adarsh Group remains unflickered in spite of the current news and talks about them. Going by the current Adarsh Credit Co-Operative Society Ltd. scandal, Shree Mukesh Modi and his brother Virendra Modi have apparently shown themselves as farmers to abstract some amount from Adarsh Credit Co-Operative Society Ltd.

Innumerable attempts have been taken to show false audit reports and balance sheets to deteriorate the name and prestige of Adarsh Group and its founder members. The whole agenda has been to show that the business of the company is fake or non-reliable. It was also alleged that Adarsh Credit has violated various provisions of The Income Tax Act and The Banking Regulations Act severely. Adarsh Credit Co-Operative Society Ltd. news have been thoroughly followed by us and none of the above talks on the scam are justified. No details of any specific section/ provisions of the acts that were apparently violated by Adarsh Credit Co-operative society Ltd. have been mentioned whatsoever. Adarsh Credit Co-Operative Society Ltd. has worked duly as per their applicable acts and bylaws, and timely compliances have been made of the applicable acts.

It was also pointed out that Adarsh Credit will be bankrupt till 30th June 2014 as opposed to the reality, which is that the Society is still functioning well. They continue to provide services to their members smoothly and smartly and nothing has happened as alleged.

Questions were also risen that due to contravention of share capital, all poor investors were at heavy risk. But the fact is, there is no link between share capital and poor investor as the share capital is also investment in the society, like deposit and as per Act, share capital is having more risk than deposit as the depositor will get a fix return on deposit and return on share capital depends upon working result and profitability of the entity.

With a lot of blames and allegations happening, what has amazed us is the undeterred belief of the members on the society. The goodwill and noble of acts of Adarsh Credit has been endless and that reflects in their words and actions. This alone is the biggest answer to all those who have raised questions or complaints on Adarsh Credit Co-Operative Society Ltd. regarding their work process and dealings. 

Adarsh Credit Co-operative Society - A Ray of Light for the Unemployed

Unemployment is one of the gravest problems in India currently and getting the right job is a crucial task here. The number of job options for the young boys and girls is quite limited. There are many reasons contributing to it, one of the main reasons is the growing population. The largest share of our population is the youth which is the highest in the world – approximately 66%. This has led to tremendous competition for the available opportunities in the market.

Apart from this, there is hardly any importance given to skill development. Our education system is designed in such a way that it lacks practical applications to the theoretical knowledge. Though it is improving in recent times, there’s still a long way to go. We need a thorough economic planning to help address this problem.

To find a solution for the above mentioned issues, Adarsh Credit Co-Operative Society Ltd. has taken an initiative to help the masses. Just like a growing bud needs sunlight for nourishment, the youth of our country also needs direction and guidance to traverse on their career path.

Along with National Skill Development Co-operation and in association with Laurus Edutech Skill India, Adarsh Credit has established free training programs for the unemployed youth of the country. The program is sketched to provide skill development needed to be a business marketing staff, electrician or a hotel steward. One such program was established in Jalore and Sirohi.

Through these training camps, almost 154 people got employment. Out of which, 107 were placed at Welspun India in Anjara, Gujarat, 26 got employed at the world famous companies like Café Coffee Day, KFC, Hotel Jhora Magra and 21 were placed in Adarsh Credit Co-Operative Society Ltd. itself. Overall, 295 people are currently being trained under this program. This has let the young minds not only know their potential, but also follow their dreams with passion.

Adarsh Credit has always been in the forefront to offer help and support to the people. The past records of Adarsh Credit has shown how the organization has been working towards the betterment of the people, especially in the rural places of India. Adarsh Credit Co-Operative Society Ltd. has been in the news for working on these kinds of ongoing missions that will turn into a revolution soon.

Taking inspiration from Adarsh Credit, if such initiatives are taken collectively by more of us, we shall be able to eradicate problems of unemployment from our nation to much greater extent.

Adarsh Credit’s Acts of Kindness for the Natural Disasters Victims has won people’s hearts

The devastation caused by natural disasters are times that call for humanity. Humanity to reach out to the victims, to help them in one of the most crucial times of their lives and to aid them to get their lives back on track. And when we see an organisation like Adarsh Credit Co-operative Society Ltd. do just that, it instils in us a sense of immense respect for them.

It is for reasons like these that the Adarsh Credit Co-Operative Society reviews have always been positive. When a society goes out and reaches to the public in times of their need, it mirrors their thoughts and actions towards the betterment of its people. The noble acts of kindness and the clean record of keeping at bay the scams and scandals Adarsh Credit Cooperative Society Ltd shows their intention to help the needy to the maximum in their plight.

Adarsh Credit Co-Operative Society Ltd. has been in news for reaching out to the victims of natural disasters at Kashmir, Uttarakhand and Nepal:

Adarsh Credit Helped Nepal Earthquake Victims – Adarsh Credit had rushed to help the victims in their unfortunate time. As many victims are displaced from their homes, they need the most basic items including, clothes, food, shelter, blankets, etc. Through its aegis, Adarsh Charitable Foundation, it sent 9 trucks loaded with various aids and equipments. One Truck of Tent Sheets from Pali, One Truck loaded with Quilts from Ludhiana, One Truck Biscuits and 6 Trucks of food items were sent to the needy. Managing Director, Mr. Rahul Modi also spoke about the establishment of “Adarsh Nepal Bhukamp Sahayta Kosh” as a medium to let others contribute according to their will.

Adarsh Credit Donated a sum of Rs 51 Lakh – Through the medium of Adarsh Charitable Institute, Adarsh Credit Co-operative Society Ltd. donated Rs. 51 Lakhs to the Uttarakhand Victims. Apart from this, Adarsh Build Estate donated Rs. 25 Lakhs, Adarsh Build Estate Ltd. donated Rs. 21 Lakhs and Mr. Mukesh Modi, Founder of Adarsh Credit Co-operative Society and Ms. Priyanka Modi Lodha donated a sum of Rs. 5 Lakhs each.

Adarsh Credit offered help to the Kashmir flood victims – Following the Kashmir floods, they donated a sum of Rs. 21 Lakhs to the ‘Prime Minister's National Relief Fund’ to those in need. Apart from this, the society staff offered their one day wage in the Relief Fund.

The scale of such devastations are immense; such steps can help save lives and give a ray of hope to those affected. Effective help plays a crucial role in combatting such situations and making a significant difference, Adarsh Credit Co-operative Society Ltd. has always been in the forefront to help those in need and has continued to inspire others to do the same. 

It is Important to Do Your Research Well Before you Invest

Gone are the days to oblige by the saying ‘A Penny Saved is a Penny Earned’. In today’s times, only saving money is not enough, one needs to invest money for a secured future. With the expenses reaching sky-high, investing your money is becoming the need of the hour.

But along with the thought of investing comes in the fear of the risks involved. ‘Investing is not safe’ - This is the conclusion many people draw. But if you dwell a little more in this subject, you will come to know how expansive the market is and how investing in the correct place can fetch you good results. The organisation you decide to invest in should be trustworthy and reliable. Investing without first doing your research is like jumping into the waters without knowing to swim.

So how do you go about this? Throwing light on this matter, Mr. Mukesh Modi, Founder of Adarsh Credit Co-operative Society Ltd., spoke in the seminar on Rajasthan Emigrants Economic Development and Co-operation in Hotel Leela. He stressed on how important it is, to have a complete information about any particular organisation, before investing in it. Mr. Modi spoke about the steps to be taken on the economic development and co-operative information for the migrants in Rajasthan. 

One needs to analyse his entire financial situation and make a wise decision accordingly. Besides, it is essential to know the financial stability of that organisation completely before making any investments in it. We should know whether that institution is in profits or not. And for that, absolute market research is the most important thing to do. Mr Modi continues in his speech, the Government analysed the effect of the co-operatives on the society and for the betterment of the investors, along with the strict laws, proper rules and regulations are also to be followed.

Adarsh Credit has been a humble receiver of the support and trust its members share with them that has helped them to grow exponentially over the years. It is currently serving to more than one million members across India.

Backed by years of experience and expertise, Adarsh Credit Co-operative Society understands the needs of its members and strives relentlessly to work for the betterment of each and every member of its society. 

Adarsh initiates Food Banks to resolve food crisis in India

Approximately 21% of the Indian population lives on less than Rs. 126 per day. With the growing population being a major concern in India, food problems in India are deeply entrenched. Agriculture is one of the largest employment sectors in India. Despite that, shortage of food and malnutrition, especially among children, continue to prevail. Hunger is a very critical issue in India and the country is home to around one quarter of the world’s hungry people.

In such grave circumstances, it is inspiring to see noble initiatives taken for the betterment of people. Adarsh Credit Co-operative Society envisions an India free of food shortage and hunger. And working in the same direction, Adarsh Charitable Foundation - the aegis of Adarsh Credit Co-operative Society, has initiated Food Banks. A relatively new concept, Food Banks are basically stores or centres that donate mainly wheat and other food supplies (as per availability) to needy people. The main objective of this is to provide food to those who cannot even afford two meals a day.

A one-of-its-kind act, it is the 2^nd Food Bank in the country and 1^st in the state. Reaching the needy is the main aim of Adarsh and through its Food Schemes, it truly signifies to not wait for things to change, rather take charge of situation yourself and begin the change. Adarsh Credit has always preached and followed to be self-reliant instead of expecting Government to take steps. The modesty of Shri. Mukesh Modi, Founder of Adarsh Credit Co-operative Ltd., is reflected in the fact that he owes his credit to every member of his Adarsh family and also the locals who helped in fruitfully conducting these Schemes.   

After the establishment of Food Bank in Abu Road, Sirohi, Udaipur and Ajmer, Adarsh Credit plans to begin many such banks in various other places like Pali etc.

Adarsh Charitable Foundation in collaboration with Adarch Credit is also planning to arrange meals in coming days for around 5000 people merely at a very low cost in Jaipur.

 Moreover, the society also plans to start with schemes for making medicines and medical treatment available for the masses.

Food is the basic necessity for people and Food Banks are a boon for families in distress. If their financial status doesn’t let them get enough food on the table for themselves or their family, Food Banks can be a saviour for them. Schemes like these should be encouraged to the best of its ability and the work done by Adarsh Credit Co-operative Society is an ideal example of stimulation towards fulfilling one’s responsibility towards the human society. 

Paving a Way towards to a Better India, Adarsh installs Water ATMs

We are all aware of Cash ATM, but a Water ATM? The concept is rather new to us. Instead of dispensing cash, this ATM gives drinking water to people.

One of the major concerns of India is to get drinking water and how safe and easily accessible it is.  According to a study, India is among the top 10 countries in the world with large number of people having no access to safe water. Consumption of contaminated water results in a number of health hazards. In such a scenario, this noble initiative taken by Adarsh Charitable Foundation, under the aegis of Adarsh Credit Co-operative Society Ltd. is changing the lives of many people in Rajasthan. Earlier people were dependant on the municipal water or ground water which is saline and has high fluorine content. But initiatives like these can make a remarkable difference on the health of the people.

Mukesh Modi, Founder of Adarsh Credit Co-operative Society Ltd., talks about his plans of planting 40 ATMs at Sirohi. People in the urban areas belonging to middle class/ upper class use filters or water purifiers, but those from the rural areas mostly cannot afford such devices. The purpose of these ATMs is to make clean and pure drinking water available to the people commuting and those living close by. The ATMs make Cold and Clean Mineral Water available at Rs. 1 per litre and Normal Temperature Water at Rs. 5 for 20 litres. The low cost makes it easily affordable for people in the rural regions. Also, they rightly stress on the wise use of water. The scarcity of clean water has to be kept in mind while consuming water from these ATMs. Adarsh Charitable Foundation plans to maximise its reach even further and aims to plant these Water ATMs in various Wards with the co-operation of the Ward Parishads. Installation of these will considerably reduce chances of water-borne diseases in water scarce areas.

Apart from this, Adarsh Credit Co-operative Society Ltd is working on Water Harvesting too. It has changed the way people think about drinking water. In a place like India, where even the basic necessities are hard-earned, having pure drinking water can be of tremendous help to the masses.

Adarsh Credit Co-operative Society Ltd has always exemplified taking effective steps towards the betterment of people and being self-reliant rather than depending on the Government. It is initiatives like these that give us hope for improved sanitation facilities which leads us to make a Better India.

Adarsh Credit Co-operative Society extends its reach through Mobile Technology

With the advent of technology, Adarsh Credit Co-Operative Society has taken unmatchable steps towards extending mobile technology’s reach to rural areas. Mr. Mukesh Modi’s vision resonates in the entire team of credit co-operative society. Their focus on member’s satisfaction over making profits is reflected in the work they do.

Featured in Forbes for the outstanding work they do, one can clearly notice the reach they have achieved, which they plan to expand even further. If you research news on Adarsh Credit, you will find how progressive their mode of action is towards increasing their reach through mobile technology. The numbers say a lot. They have over one million members and 809 operational branches all over India. Moreover, their success can be measured not just through these parameters, but also from the fact that they have succeeded in developing a personal and long term relationship with their members. The Adarsh Credit Co-Operative Society reviews are a testimonial to this fact.

One of the major highlights of this Credit co-operative society is the personal connection their advisors build with their members. The advisors are like walking ATMs, where members can deposit cash or get cash. Their services include the advisors reaching the doors of their members to enable transactions which are instantly shown on the mobile phones after the funds are accepted. The members can deposit an amount on a predefined frequency out of various options available and they can borrow funds against the deposits as per terms and conditions. The Society offers loan against deposits where members can borrow 60 percent of the deposit amount they have in their account.

Even though members can do mobile transactions on their own, the credit cooperative society aims to increase its number of advisors, thereby strengthening the bond with their members even further.

“That is our business model,” Modi explained, “reaching out to people with advisors.” The advisors reach around 250 people daily, working through vegetable markets where they can meet more number of people at once. This is what they believe gives them a cut above the rest, making it difficult for the retail banks to take away their members.

Adarsh has distributed phablets to its advisors in order to enhance the doorstep banking services in rural areas. "Optimising the payment gateway through SAP Sybase 365 will assist us to meet the requirements of the underserved population. Our constant endeavour is to create a member friendly service environment in order to galvanize the momentum of financial inclusion in the country. We have a policy to invest a significant percentage of our bottom line in technology. The management is perfectly aligned with this thought process," says Rahul Modi, Managing Director, Adarsh Credit Co-operative Society. With more than 50000 transactions per day currently, Adarsh plans to increase its number of mobile advisors from 8000 to 100 thousand.

It is the faith and belief that the members have in Adarsh Credit that has helped the credit cooperative society to reach new heights of success. Their clean record comes across from the fact that Adarsh Credit has always stayed away from scams or scandals.

Adarsh Credit Co-Operative Society is galloping at a lightning speed through the use of mobile technology. The aim of the Society is to extend it’s reach to the semi-urban/ urban customers too. They believe that mobile led inclusions have a great scope in India and with a growing response currently, they are looking to expand their horizons even further. 

Mukesh Modi – Trailblazer of Co-operative Movement in India

Mukesh Modi, a stalwart in co-operative movement in India, has founded the Adarsh Credit Co-Operative Society Ltd (ACCS) in 1999. True to its name, Adarsh Credit is synonyms to righteousness and transparency in its business. The co-operative society is a howling success with the members of society reaching more than one million as on 31^st August 2016, with 809 operational branches all over India.

His humbleness reflects in his noble ideas and steps towards the betterment of people. He initiated a mission to provide employment to rural unemployed youth, who otherwise would have migrated to other states. The journey started with a humble beginning from his home town Sirohi. He mentored various co-operative institutions, one of which scaled to great heights, which is today known as Adarsh Cooperative Bank Limited (ACBL). Backed by the undeterred dedication, integrity and hard work of the team and lakhs of associates, Mr. Modi aims to build a society brimmed with happiness, equality and prosperity.

He believes strongly in maintaining Truly Transparent work and ensures that the integrity of the co-operative institution is maintained throughout. Adarsh Credit Cooperative Society Ltd is cautious about the quality of work at each step and has the record of not being involved in any sort of scam or scandal. The positive Adarsh Credit Co-Operative Society Ltd. reviews shared by people furthers his determination to work towards a better society and a better India. With an enduring optimistic approach, Mr. Modi sees the challenges and problems on the way as stepping stones towards success. The efficient team members give impetus to the co-operative movement. Their novel concepts and way of tackling situations is the driving force that has resulted in exponential growth of the movement.

Adarsh Credit Co-Operative Society Ltd. has always been in news for its different initiatives and projects meant for social upliftment and financial inclusion. He pioneered the emergence of co-operative movement in Rajasthan and established The Urban co-operative Banks Federation of Rajasthan. His initiative is focused at benefiting the society at large. Employing state of the art technology, Adarsh Credit has established a vast network in rural areas of India.  He believes that, “Co-operatives are clubs of like-minded people, who share a common goal, common social and economic background and one mission i.e. prosperity for all.”

Their motto is to support farmers & the rural society and to finance economically weaker sections. Adarsh Credit feels humbly honoured to have been bestowed upon with Trust and Faith of their members.

It is this faith the members have on the Adarsh Credit that is the foundation on which it has grown. With more than half million share holders and one million account holders, Adarsh Credit Co-Operative Society is truly a name to reckon with.