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

Mr. Rahul Modi of Adarsh Credit Talks About Demonetisation

Demonetisation has been the talk of the town in the recent times. It is a step taken with an intention to bring about a revolutionary change in the economy of the nation. The motive is to curb black money. All the money that was hidden will become piece of paper overnight, if it is not exchanged with current currency unit. The biggest advantage of demonetisation is that it allows government to track those who have large amount of unaccounted cash. Since the major use of black money is for illegal activities like terrorism funding, gambling, inflating price of real estate, gold, etc., this step can have a major impact across India.

Managing Director of Adarsh Credit Co-operative Society, Mr. Rahul Modi, has been in news for his words of wisdom as he speaks about Demonetisation. He has shared his positive reviews on the same. In a CA conference in Udaipur, Mr. Rahul Modi encouraged the use of digital money in order to make economic transactions easy and transparent. He showed his appreciation for Government’s decision of going cashless and using Digital Money; and requested everyone to give complete support to the Government on this. During the conference, he stressed on the importance of CAs (Chartered Accountants) in fighting the economic crisis. CA profession has always been an integral part in the country’s progress. This is the second most popular profession worldwide.

He also explained about how, in today’s era, the CAs play such a crucial role in the economic state of the nation. The progress with which Indian CA have incorporated International Accounting Systems, no other country might have. Today, the importance and need of CA has increased manifolds. With economy becoming digital, the need for maintaining reports and other financial documents has also increased.

Adarsh Credit also came up with Adarsh Money and encourages everyone to use the same. In the conference, he explained the benefits of using Adarsh Money. Adarsh Credit has always taken steps towards the betterment of people. In such times of need, Adarsh Credit Co-Operative Society Ltd. appreciates initiative to uncover scams and scandals of the corrupted people and to combat against terrorism, black money and corruption taken by Indian Government.

Mr. Rahul Modi ended the conference showing hope that this bring a change and works better towards a progressive nation. 

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. 

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. 

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.

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.