The Magic of Adarsh Credit Co operative Society

  • 16 January 2016 | 1140 Views | By Mint2Save
Mint2Save

It is uncanny to know about a good Indian Financial Institution that is making constant progress and is still not getting massively popular among the urban masses. Adarsh Credit Co-operative Society, a NBFC based out of south Rajasthan and Gujarat is one such example.

Originated from a small town named Sirohi, which still is quite less developed and is known to be one of the naive places of the state, this non banking financial company has put its strong feet in the ever growing economies of tier 2 and tier 3 cities of Rajasthan and other states.

Adarsh Credit Logo

Let’s explore some crucial points that make Adarsh Credit Co-operative Society an interesting entity that has the caliber to reflect upon and make one ponder about the Indian Financial System and its monopolies.

Use of Latest Technologies

If you search Adarsh Credit Society over the internet, you will end up discovering news about it using virtual technologies and planning to reach out the rural Indian with the same. Through mobile internet facilities, Adarsh Credit has set its reach plan towards the rural scene in India and plans to focus on the same for a long time. This feature has got the society into some of most prestigious press pieces, including the one from Forbes, as shown below.

Adarsh Credit Co Operative Society

When it comes to large scale commercialised banks, high tech solutions to people seems to be  a necessity as the people move fast and need solutions on  the go. On the other hand, when a relatively smaller savings society uses the same, it clearly shows its intentions on being more focussed towards customer satisfaction than profit maximisation. Wonderful, isn’t it? It is quite interesting to know that Adarsh now serves more than 1 million over the mobile internet based platform that hits more than 3 million transactions per month. Satisfactory or Great? Just to remind you that these figures are always on the rise and well aware of it, the management at Adarsh have employed VMWare based systems that have reduced the burden on their hardware.

Good Returns on Savings

Hit the branch of any scheduled bank and ask their honest review on their core deposits and their returns. While their savings deposits would crawl at meagre 4-6%, their fixed and recurring deposits would not fetch you more than 8.5% as of now. Barely beating inflation, these products don’t breathe life into any savings plan. People are, hence, advised to go for riskier options like mutual funds or equities and some are even bluffed by money ruining life insurance plans.

When the same comes to Adarsh Credit Co Operative Society, the interest rates on Fixed Deposits start from 7% (for a time of 3months) and move to whopping 12% when you go invested for a tenure of 5 years. These returns as good as that of a corporate pension funds, that go locked for quite a long time.

Take the case of Recurring Deposits now where the interest rates vary from 10.50% to 11.50% surpassing the conventional Post Office Returns comfortably.  Now, you know that underdogs in Indian Finance do exist.

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