Inaugurates Dharampeth Branch of Ushatai Bade Multistate Co-operative Credit Society Limited
Nagpur: Almost everyone knows how difficult it is to get loans. It becomes all the more difficult for the poor and people of lower economic strata to get loans. It is the small amounts of Rs 10,000/- or Rs 20,000/- that one needs to start the small business ventures like hand cart, vegetable vendors, fruit vendors, pan-kiosks etc opined Union Surface Transport Minister Nitin Gadkari while inaugurating the Ushatai Bade Multistate Co-operative Credit Society Limited on January 2, 2016.
Gadkari said that when they find the red-tapeism, the bureaucratic hassles and the several documents which are required to get loans, they get frustrated and resort to borrowing from unscrupulous money lenders. These money lenders lend money at heavy interest rates and many poor and needy end the lives failing to pay the interest amounts and the principal amounts. The properties and lands that are hypothecated with these money-lenders as guarantee are usurped by these money-lenders.
In his inimitable style Nitin Gadkari said that today everybody speaks about poverty yet nobody speaking about removal of poverty from the society. He spoke about how a friend of his from LIC had started giving loans to Mahila Bachat Gats. He said that when asked about the NPA, Gadkari friend had claimed that 0% NPA. He said that the recovery is 100%. Gadkari said that a poor person, if lent money will always return the money honestly. It is rich and powerful who default payments.
Gadkari went on to elaborate how Credit Co-operative banks are doing a wonderful job of lending small amounts to the poor and needy when they need it without many hassles.
He spoke about Co-operative Stores in Laxminagar, which has a remarkable turnover of Rs 60 crores this year. He said that there are 6000 shareholders and that they give them regular dividends.
However, he added that it is difficult to run a co-operative bank or store honestly. Many people resort to wrong means to make money since co-operative banks are not a very profitable venture. However, there are philanthropic people who do run such co-operative banks and societies.
He told the Bank Chairman that Sandeep Agrawal will definitely get success. He added that Sandeep Agrawal will be reaping the benefits of the good deeds and the credibility of his father.
He then said that people often find faults with Vidarbha, but it is true that Co-operative banks have developed and running really well in Kolhapur and the Western Maharashtra. We have to seriously ponder over this issue.
Vidarbha has to be developed at all costs.
Nitin Gadkari then went on to speak about his favourite topic of water conservation. He said that 70% rain water gets flowed off into the sea. We are able to conserve only 15-20% in lakes and dams. The remaining go into the ground to enhance the water table. We should do something to stop the rain water from flowing off to the seas and find out means to stop the flow and to conserve it. He elaborated his point by how they built a 9 kilometer long check dam which in-turn has resulted in farmers getting 24X7 water supply. These farmers are now being provided with electricity for pumps too by the government.
While adding that sugarcane yield is certainly good in Marathwada area or in Western Maharashtra, but Vidarbha too is not far behind. He claimed that a farmer had recently a yield of 109 tons of Sugarcane. He said that with a little help, many such poor farmers too can produce very good crops. This will also alleviate unemployment problems of the youth.
He claimed that suicides should stop and something should be done to ensure that the village youth get employment opportunities too.
Gadkari shared his main dream and said that he wants to get at least 50,000 youth of Vidarbha employed in good jobs in these 5 years.
He said that recently some company from Ratnagiri had approached him to start a business in Vidarbha. Gadkari claimed that his only condition was that at least 3000 youths from Vidarbha should be employed in the factory or industry and each employment will be done on the letter of Nitin Gadkari only.
He said that now many big companies like Infosys, HCL etc have come-up in MIHAN. Soon many more will also come up.
Nitin Gadkari said that on January 1, 2016, he was in Goa. There he was told by a local official that the government has been given permission to do fishing in 11 Nautical miles into the sea. No small fisherman will venture so deep into the sea to do fishing. They then told Gadkari that only fishing trawlers are needed to fish so deep into the sea. Gadkari is alleged to have given an advice that take Rs 10,000/- from 100 Fishermen and buy a trawler. You take a certain percentage of the cash proceeds every day and when the cost of the trawler is completed, you give the trawlers to the fishermen to do business.
He lauded Chairman of Vidarbha area of Ushatai Bade Multistate Co-operative Credit Society Limited Sandeep Agrawal and said that his efforts will be a small aid for the development of Vidarbha. He wished success to Sandeep and said that the credit co-operative society will certainly get a lot of deposits and will do a good profitable business too.
Earlier Sandeep Agrawal conducted the programme which included lighting the traditional lamp and garlanding the guests. Founder Chairman of Ushatai Bade Multistate Co-operative Credit Society Limited Amol Vishwanath Bade spoke how he started the bank and how he is running successfully in Ahmednagar area. He said that they do undertake care of an orphanage and many social and philanthropic deeds. He said that the profit generated is often put to use in philanthropic deeds which has earned him Punyayi (pious deeds).
Newly elected Member of Legislative Council Girish Vyas too was present and lauded the efforts of Sandeep Agrawal and wished him success.
Ushatai Bade Multistate Cooperative Credit Society Ltd (UBMCCL), a renowned name in Pathardi area of Ahmednagar District. The UBMCCL, with its outstanding service in agriculture and other sectors, has acquired trust and extending its service since long. With the aim of spreading its wings, the Directors of UBMCCL decided to set up a branch in Vidarbha, the first, and the branch was inaugurated by Nitin Gadkari in Dharampeth area of Nagpur. The Branch is situated on Agrasen Road, Dharampeth.
Amol Bade and Sandeep Agrawal while speaking to media personnel said that the Society extends services in an array of schemes such as Daily Collection Account (Pigmy) Scheme, Monthly Recurring Deposit Scheme, Personal Loan, Vehicle Loan, Housing Loan, Gold Loan, Loan against Property and other services. The UBMCCL has facility of opening Savings and Current Accounts, stated Bade and Agrawal.
The Society offers 8 percent interest on fixed deposits for a period of 46 to 90 days, 9 percent for 91 to 181 days, 11 percent for 182 to 365 days, and 12 percent interest for fixed deposits for 366 days and above. The Savings Accounts will fetch 4 percent interest per annum. The senior citizens, however, will receive 0.50 percent more interest in the all the schemes.
The amount of deposits kept in the UBMCCL for 78 months will get doubled the amount.
The other notable services and facilities offered by the Society include Demand Draft (at par cheque), NEFT, RTGS, Money Transfer, Safe Deposit Lockers, Loans (Vehicle, Business, Cash Credit, Gold, Emergency), ATM, SMS Banking, Phone Banking, Insurance, Telephone Bill, Mobile Bill & Recharge, Electric Bill etc. The Chairman of UBMCCL Amol Bade has formed a committee to ensure successful running of the Society’s Dharampeth Branch in Nagpur. The Chairman of this committee is Sandeep Agrawal, Vice Chairman is Vijaykumar Jain, Directors are Anupsingh Bhatia, Sunil Agrawal, Ritesh Agrawal, and Shyamsundar Purohit among others.