Mukesh Modi’s Adarsh Credit introduces ‘Adarsh Money’ – Promoting Usage of Digital Money

In the present Scenario, major economic and technical changes are taking place in the
industrial and financial revolution through the new information processing technology.
Especially in the finance sector, it plays a significant role in the overall development.The
financial service sector has taken up diverse technology to make the business operations
simple and effortless. Previously, the daily operations were managed through paper currency,
bulky computers and human intervention which is now being handled using digital platforms.
Latest technology in financial sector has opened doors for new business opportunities, as a
result, the financial sector has undergone a deep-seated transformation.

Technological innovation was already present in the Indian financial service sector but with
demonetization, the pace with which it has grown is remarkable. Demonetization, which
initially impacted the economy of India, has now turned out to be a fruitful decision. Because
of technological intervention, the financial services have seen major changes in its tactics; the
transactions have become speedy, transparent and accurate.

The credit co-operative sector also has changed its way of functioning and Adarsh credit cooperative
society Ltd. is a good example of it, where technology is used to simplify the
business operations. Adarsh Credit Co-Operative Society Ltd. has constantly hauled up in the
fake scandal news but this didn’t stop them from working towards the betterment of the
society. Founder & Mentor, Mukesh Modi of Adarsh Credit has a huge contribution in
promoting the digital revolution in India. Adarsh Credit Co-operative Society Ltd. has been
using all types of technological solutions, making the financial service experience convenient
and reliable for the masses.

One of their major contributions can be seen through their mobile application project.
‘Adarsh Money’ which is bringing a revolutionary changes in the co-operative sector by
enabling various financial transactions like money transfer, NEFT/RTGS, recharges etc. The
introduction of the digital registration form for registration of new members is another
milestone set by them. They also took initiative in conducting various training sessions in
rural areas to utilize cashless payment methods and services in their routine life which has
benefited the rural areas to fight demonetisation. From time to time, the cooperative society
also organizes various social drives to acquaint the society with the digital transaction. Truly,
technology has completely transformed the functioning of financial institutions and has
become an inseparable part of it.

Adarsh Credit Co-Operative Society shares its Reviews on how Digitalization has changed the face of financial sector

With the advent of technology, digitalization has been integrated into our everyday life. And
the financial industry is no exception to this. Scrawling the news channel and as we all know,
demonetization has brought about a change in Indian economy and Mukesh Modi’s Adarsh
Credit Co-operative Society has helped the masses in the current scenario through many
ways.

Digitalization and its effects on the financial sector

The financial industry has witnessed a drastic alteration in its mode of functioning; now a day
the industry is more reliant on technology. Consumers no longer are required to stand in
queues or visit the outlets to get their choresdone; all that is required to do is register on
respective institution’s website or mobile application.

Post demonetization, Indian economy has seen a radical change; even a local trader has
started using the digital platform for their business transaction. Adarsh Credit Co-Operative
Society(ACCS) being the pioneer in the co-operative sector has initiated the practice of
technology at a great extent.

Taking into account the concerns regarding obtaining cash easily, Adarsh Credit Co-operative
Society Ltd. took an exemplary step. It launched a mobile application ‘Adarsh Money’
promoting the usage of digital money. This flagged a new terrain for other co-operatives and
financial institutions.ACCS is constantly embracing the practice of new age technology for
all modes of transaction with élan. The mobile application enables its user to accomplish all
types of transaction which otherwise would have been possible only by visiting the branch of
the society. The impact of enrolling for such technology will benefit around fifteen lakh
people as on January, 2017 who are steadfastly associated with Adarsh Credit Co-operative
Society.

In addition to this, Adarsh Credit Co-operative Society has envisioned promoting
digitalization in the financial sector with its digital registration form that enables the user to
become a member of ACCS digitally with just a touch of their smart phone. Honourable Mr.
Rahul Modi, Managing Director and Chief Executive Officer of Adarsh Credit Co-operative
Society with passion for technology driven approach has metamorphosed the way
organization use to function. Various CSR drives are also undertaken that will assist people to
enrich the progressive revolution in the financial sector.

Another Remarkable Achievement of Adarsh Credit Co-Operative Society Ltd.

Adarsh Credit Co-Operative Society, even after being dragged maliciously in the fake news of Adarsh Credit Cooperative Society Ltd. Scandal, has always stood up in front to complete their responsibility towards their members and social community. They have always justified their role of a responsible Credit Co-operative Society no matter whatever circumstances they had to face.

The Founder & Mentor of Adarsh Credit, Shri Mukesh Modi has always believed that Cooperative Societies are developed only through transparency, appropriate use of latest technology and by inculcating the practice to adhere to the rules and regulations. The main objective of any CreditCo-Operative Society Ltd is to work for the welfare of its members and Adarsh Credit Co-operative Society has always made constant efforts in this direction. With Demonetisation affecting the common people nationwide, various training sessions conducted by Adarsh Credit in rural areas to utilize cashless payment methods and services in their routine life which has truly benefited the rural public to fight demonetisation in a positive way.

During the 19^th Foundation Day of Adarsh Credit Co-operative Society held in Sirohi on 18th January 2017, Shri Mukesh Modi disclosed their plan to provide the farmers with zero interest loans for the development of the rural sector. He also revealed the objective behind the foundation of Adarsh Credit that is to provide maximum employment opportunities in the forthcoming years. Within the span of 4 years, 25000 new employment avenues each year will be created through Adarsh Credit. The Managing Director of Adarsh Credit Co-operative Society, Mr. Rahul Modi announced that the milestone achieved by Adarsh Credit was only possible because of the combined support and well wishes of the common people.

Adding to their milestones, Adarsh Credit Co-operative Society created a free Wi-Fi zone at Sirohi for the development of educational and other services related sectors. They have launched the Adarsh Money Mobile Application in Hindi that will prove beneficial for the promotion of digital transactions in rural areas eliminating the language barriers. They have also initiated a major campaign in the field of E-Education with a motive to integrate the best technology in developing the educational sector.

At the event, Business Head, Mr. A V L Narsimham and Advisor Channel Development Head, Mr. Sunil Bhatia, spoke about new business opportunities and confer the team building efforts. Corporate Social Responsibility Head, Mr.Biju Mathew, then provided detailed information about the service projects of Adarsh Credit. Zonal Head Sirohi, Mr. Rajesh Malhotra welcomed the guests and Zonal Head Pali, Mr. Praveen Kansara gave a vote of thanks.

Adarsh Credit Co-operative Society Ltd. has always strived for the betterment of the society and the consistent efforts showed by them, have portrayed their service towards the development of human kind.

Mr. Rahul Modi Adarsh Credit again serves as an example to follow

Managing Director of Adarsh Credit Co-operative Society Ltd., Mr. Rahul Modi
recommended that we should strongly support Demonetisation. With the changing times, one
must adapt to new scenarios and technology initiatives which will help in going cashless as
per current situation. He encouraged using digital money and cashless transactions, which is a
millennial initiative. As stated by Mr. Modi during the Advisor Meet held at Ranchi, ‘Adarsh
Money Mobile Application is a perfect tool for the country and our members to move in this
direction.’ Adarsh Credit Co-operative Society Ltd. has always been in the news for its
initiatives towards the betterment of masses.

Mr. Modi said that the nation has always moved forward whenever a change is brought, and
this monetary change will also prove to be a base for India’s growth. He said that Adarsh
Money mobile application is a Government recognized application and Adarsh is the first
credit cooperative society in the nation to have almost completely started working on this.
Adarsh Credit Co-operative Society Ltd’s reviews have always been in the forefront to bring
a positive change in the society.

Mr. Modi announced that this is the right moment for us to work towards maximizing the
reach of Adarsh Money, because this is an effort towards strengthening the digital system of
our Nation. He emphasized that we should all have a positive outlook on this and focus
towards spreading the reach of digital money. Instead of having complaints, Adarsh Credit
Co-operative Society Ltd. stresses on working together towards demonetisation.

Mr. Modi appreciated the dedication and devotion demonstrated by the advisors of Ranchi
area during demonetization and he also said that we are committed to provide our technology
driven co-operative financial services to the people with complete transparency. Circle Head,
Mr. Sandeep Sharma, said that with the changes that the nation is facing, the whole world is
looking at us with hope and now we have to prove our excellence. He said that to ensure
transparency and real time transaction system in the co-operative sector, it calls for us to
accept digitization.

Adarsh Credit has yet again motivated us to have a positive approach. They have always set
themselves as an example to follow in the past and continue to do so even now.

All India National Conference of Journalists Sponsored By Adarsh Credit Co-Operative Society

In today’s era, one word to describe Journalism is Dynamic. Though Journalism has become an important aspect in the digital arena, but certain components are still affecting the strong pillars of it. It has been observed that Digitalization had a major impact on Journalism which has changed the face of communicating news today.

Being involved in several social service activities, Adarsh Credit Co-Operative Society Ltd. has always gone that extra mile to make the difference. Needlessly being dragged into the false allegations and controversy of ‘scandal by Adarsh Credit Co-Operative Society Ltd’ has surely taken its toll on them. But this has never affected their mission of improving the common people lives. Adarsh Credit Co-Operative Society Ltd. exactly understands the significance of journalism platform. Shri Mukesh Modi, Vice President of Adarsh Credit took initiative in organizing the All India National Conference of Journalists in order to shape the future of journalism.

The President of All India National Conference, Mr. K Vikram emphasized on how truth and transparency plays a crucial role in journalism. He was pleased to see that even after working in the Co-operative sector, Adarsh Credit Co-Operative Society Ltd. have always lived up to these standards. He was charmed by how Adarsh Credit has successfully evolved itself from the Society which initiated in Rajasthan to highly developed Credit Co-operative Society, setting a benchmark across the country in a very short span of time. He acknowledged the efforts taken by Mukesh Modi to serve public by joining hands with Social responsibilities.

Appreciating their endeavor in the field of Blood Donor Group & Helpline, Education & Environment and Water Harvesting & Self Employment, Mr. Rao termed the work of Adarsh Credit Co-operative Society as Exemplary. The Cluster Head-Jodhpur, Mr. Mahendra Prajapati also endowed a detailed information about various social service works being done by them.

Adarsh Credit Co-operative Society Ltd. have truly been working hard for the betterment of the society. The aim of the society is to lay a strong foundation for a sustainable future and to expand their horizons even further.

View Point of Our MD Mr. Rahul Modi on Budget 2017

Dear Friends,

The Union Budget presented on Wednesday by the Finance Minister, Mr. Arun Jaitley, has paved the way for further development of common man and overall progress of the country. This budget can be termed as a development oriented budget especially for farmers, rural development, youth and the poor. On careful examination of the provisions, we can see that the possibilities of the development of co-operative sector are very bright.
Firstly, the Government has provided relief to the common man by removing tax liability on income up to Rs. 2.5 lakh and reducing the rate of taxation to 5 percent for income between Rs. 3 lakh and 5 lakh. These provisions are aimed at increasing savings by which the co-operative sector will also be benefited equally.
In the next five years, the Government plans to double the income of farmers, for which they will be given loans to the tune of Rs. 10 lakh crore. Additionally, interest for 60 days will also be waived.
40 percent farmers will get loans from co-operative societies. The coverage of Crop Insurance Scheme has also been increased by 40%. Rs. 48 thousand crore has been allocated as budget for MNREGA. This is so far the biggest allocation for MNREGA. 5 lakh ponds will be additionally created through MNREGA during 2017-18.  It is noteworthy that the contribution of women under MNREGA is 55%. This provision will definitely work towards strengthening the rural economy. Significantly, Adarsh Credit Co-operative has a very strong network in the rural areas as well. An increase in the earnings of rural population, coupled with an increase in their savings and economic growth will create new business opportunities for you.
Further, there will be provisions by the Union Budget state to provide high-speed broadband services to 1,50,000 gram panchayats. Also, Rs. 10 thousand crore has been allocated for the Bharat Net project. This will prove to be a new communication revolution in rural areas. It will give newer heights to the extension and growth of our Adarsh Mobile Money Application.
According to the budget proposals, no service charges will be levied on booking tickets through IRCTC. The main objective behind these efforts is to promote digital economy. We have already been making efforts in this direction and have achieved desired results with all your active support and contribution.
The Government has been continuously promoting affordable housing and a target of constructing 1 crore houses by 2019 has been set. The Government has announced Sankalp schemes to create new employment opportunities and 3.5 crore youths will be provided market relevant training for the same. Government has allocated Rs. 4000 crore for this work. Apart from this, Rs. 1.84 lakh crore has been provisioned for development of women and children. Rs. 69,400 crore has been allocated for highways. Also, provision of Rs. 2, 41,387 crore has been made for transport. This will strengthen the growth of basic infrastructure of the country. It was also shared that Rs. 3,96,135 crore will be spent on infrastructure development. All these measures aim at increasing the availability of resources and helping to speed up the rate of economic development.
Aadhar based smart cards will be issued to senior citizens, which will maintain their health-related records. During its 19th Foundation Day celebration event, Adarsh Credit has already announced this type of plan of linking it with mobile and its work is under progress.
Passports will now be issued by post offices. Also, you can take advantage of them as collection centers. The Finance Minister said that India is on the verge of digital revolution. Banks will be motivated to start 20 lakh new Aadhar based POS by March 2017. Cashback and referral bonus schemes will be launched and digital payment schemes through post office will be launched. All these efforts are aimed towards promoting cashless transactions and we have already been working upon it since the year 2014. In the Northeast India, the Government is focusing upon the development of the farmers and the youth, whereas you might be aware that through the Business Correspondent model, we are tirelessly working towards creating new employment opportunities in this area.
The Government has proposed to make favorable amendments in the Multi State Co-operative Societies Act and the Negotiable Instruments Act, which will help to promote credit co-operative societies and financial co-operative sector. The co-operative sector will be strengthened and the curb on black money will pave the way to increased security of investors and their hard earned money.

Regards,

Rahul Modi