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.