Adarsh Credit Co-Operative Society supports RBI’s move to open up unified payment interface (UPI)

Adarsh Credit Co-Operative Society supports RBI’s move to open up unified payment interface (UPI)

The Reserve Bank of India, on 20th March, announced a plan for making digital wallets inter-operable through UPI (Unified Payments Interface) platform. This is under the digitization program of the Government. According to some reports issued by the Reserve Bank of India, the guidelines for interoperability of the wallets and KYC (Know Your Customers) are yet to be prescribed.

What is Interoperability?

It lets you transfer direct money from one digital wallet to another digital wallet without the need of going through traditional banking. Adarsh Credit Co-Operative Society’s mobile application platform Adarsh Money has already tied up with a digital wallets such as Oxigen Wallet , Jio Money and Airtel money.

Inspite of some false allegations which are being spread about Adarsh Credit Co-Operative Society Ltd., we have always continued to serve the best interest to our members and such false accusations will never work and will not impact the loyalty of our members and advisors.

Adarsh Credit Co-operative Society reviews this move by the Reserve Bank of India as a much needed step to bring our country into a digital platform and to promote the Digital India campaign.

We, at Adarsh Credit Co-Operative Society Ltd always believe that the proposed RBI guidelines for opening for Unified Payment Interface would boost up the mobile banking, ecommerce transactions and online payments.

Ultimately, this will eliminate the requirement of using paper currency and will promote more cashless transactions and will lower the overall corruption rate in the country.

One of the most reliable co-operative societies in India

Adarsh Credit Co-operative Society – One of the most reliable co-operative societies in India

Adarsh Credit Co-operative Society Ltd. has always worked very hard and put in all the efforts to reach at the top position. All the technologies that we use are streamlined and help us to sustain and grow our current business. The modern technological adaptations have also helped us to come up with various new features and products that ultimately support our business development. This can be counted as one of the factors of Adarsh Credit Co-operative Society to become the most successful co-operative societies in India.

We, at Adarsh Credit Co-operative Society, have adopted the world’s most prominent technology and tools for core financial solutions and mobility solutions. This is how Adarsh Credit Co-operative Society has become successor in terms of reliability and sustainability among its members. Since we have started, we have been serving more members day in and day out. For this, we had to make sure that our systems work round the clock, which demanded increasing software and hardware costs which ultimately began to hurt our margins.

Without much strategic planning, we went through a phase of adding servers. We were running around several physical servers at our primary data center and around the same number at our secondary site. The lists of solutions were expanding and the server platform was getting bigger. We had to take steps as the costs were increasing day by day. As we were operating with very low margins, it was essential for us to keep the expenses as low as possible.

Later on, we turned into virtualization and were able to run more virtual machines on the physical servers with VMware, compared to our competition. From all our servers, around 95% are now visualized and we expect this figure to reach 100% soon. So after all; everything went good also from the cost perspective.

This is how, through infrastructure and technology, we have become successor in terms of growth and reliability.

cashless economy with Adarsh

The dream of cashless economy, now a reality with Adarsh

Honourable Prime Minister Narendra Modi believes that, “We will only succeed in bringing a change only when we change ourselves.” Digitization has proven to be a good change for our country and Adarsh Credit Co-Operative Ltd. has given a remarkable contribution in making India go digital.

Adarsh Credit Cooperative Society’s Mobile Money Application Adarsh Money has joined hands with digital wallet Oxigen and has led digitization revolution in the country. This has given our members a whole new experience in making financial transactions. Through our digital wallet transactions, it seems that the cashless dream is going to become a reality very soon.

Adarsh Credit Co-Operative Society Ltd. has played a significant role in making rural India to avail financial services through our various technological adaptations. The mobile money application ‘Adarsh Money’ is one of them which has made it possible for rural India to engage in online payment methods and by doing this, the transparency in financial transactions has also been enhanced.

Apart from this, Adarsh mobile money application has enabled us to take care of the complaints of our members and advisors. Adarsh Mobile Money applicaton has also extended the scope of resolving the complaints in a very short period of time.

With Adarsh Money mobile application, we have become successful in bridging the gap between rural population and financial transactions. Now people from rural India need not to come across long distance to use Adarsh Credit Cooperative Society’s services for their financial transactions. Account handling or financial transactions or investing in any deposit scheme’s – everything is now at their fingertip, just one touch away.

Through Adarsh Mobile Money application, we have provided various services to our members such as NEFT/RTGS to any bank account across the country, easy money transfer, mobile recharges and digital transactions. Adarsh Credit Co- Operative Society has more than 1.7 million members and more than 809 branches and by using our advanced technology in financial services we have been successful in delivering the best-in-class financial services to our members.

Such advanced technological adaptation in financial sectors has been used by one and the only co-operative society in India and that is Adarsh Credit Co-Operative Society Ltd.

Adarsh Credit Co-Operative Society is progressing day by day and there is tremendous rise in our Adarsh mobile money application users, thus we can say that India’s dream of becoming a cashless economy is going to be a reality very soon.

How Adarsh has become one of India’s most renowned cooperative societies?

The story of Adarsh Credit Co-Operative Society Ltd. started in 1999 with only a few branches. Far from the realm of technology, the society had a lot of paper work and manual work to do. The goal was to gain the customer trust and to become a global player in the sector of co-operative societies.

As our core business was more emphasized on financial transactions, we provided to our members the best financial services at their doorstep. We started to appoint the Advisors who had played the key role in our success story. On behalf of Adarsh Credit Co-Operative Society, advisors had started collecting the deposits door-to-door from the members.

Apart from this, we also launched some attractive schemes for the members. Our objective was never to become a profit-making organization. We have always believed to concentrate more on ‘let’s grow’ approach together rather than succeeding individually.

We have always believed to grow together with our members and advisors. This is the reason why we have succeeded to become one of the India’s most recognizable and trusted co-operative societies.

Adarsh Credit Cooperative Society – One of India’s most recognizable Co-operative Societies

  • More than 1.7 million members
  • More than 2.5 lakh advisors
  • More than 809 branches

These numbers speak nothing but the prestige and success of Adarsh Credit Co-Operative Society. Started in the year 1999, Adarsh Credit Co-Operative Society had a vision to accelerate its reach to every curve across the country and today with more than 809 physical branches; it is now present in almost each and every corner of the country.

We have always tried to make Adarsh Credit Co-operative Society, one of the best co-operative societies in India and we are happy to say that we have been successful throughout our journey. We have enriched the financial and social status of our members by offering member-centric and by providing good quality services using most advanced technologies in financial services.

Moreover, Adarsh Credit Co-Operative Society has won the hearts of its members by providing the best financial services. It is available to serve its members anytime 24*7. The members can also place any grievances or request from any place of the country during anytime of the day.

We, at Adarsh Credit Co-Operative Society, have always keen to adopt the best practices in terms of technologies and business processes. This has made Adarsh Credit Co-Operative Society to be unique and most recognizable amongst all other co-operative societies of the country.

Adarsh Money – Mobile app

Adarsh Money – Mobile app for our members and advisors

Today, in the world of digitization, everything is turning digital. In order to serve the best services to our members and promote the cashless economy, Adarsh Credit Co-operative Society Ltd. had decided to come up with a mobile application.

We, at Adarsh, have equally subsidized and played a momentous protagonist to accomplish the assignment of making more people to enter the realm of digitization. For both – our members and advisors, we developed mobile applications which are available for free on Android and iOS platforms:

  1. Adarsh Money for Members (For Members only)
  2. Adarsh Money for Advisors (For Advisors only)

Adarsh Money for Members

This mobile application is encumbered with all the modern features which should be there in a mobile app of a financial institution or a co-operative society. Key features of this app are as under.

Key features:

  • Opening Savings, Current, Term Deposit RD and DDS accounts
  • Internal Fund Transfer
  • NEFT/RTGS
  • UPI based Payments
  • QR Code based payments
  • Wallet Recharge
  • Mobile and DTH Recharges
  • Bill Payments
  • Merchant Payment
  • Data card Payment

Apart from this, we have also kept provision for Reward Points and cash back on festive day recharges for our esteemed members.

Adarsh Money for Advisors

We have developed this mobile app keeping in mind the requirements of advisors. Features of this app are focused on business operations.

Key features:

  • All the collections
  • Account opening
  • Financial transactions
  • Advisors personal commitments
  • CRPB collections
  • Incentive details

Through both these mobile apps, we have well-maintained the transparency between our advisors and members by sending them SMS and e-mails for each transaction they make.

Both these apps are available on Google Play Store and Apple App Store for free. So you can download them.