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cashless india

Adarsh Credit fulfills the dream of “cashless India”

“Digital India” has always been a dream of our Prime Minister NarendraModiji. He has always wished for India to become a cashless society. Adarsh Credit plays a small, but significant role towards fulfilling this goal of the Prime Minister. Adarsh Credit Co-operative Society Ltd , India’s Leading Credit Co-operative Society is doing its bit to contribute to the rural section of the society. Adarsh Credit Co-operative Society Ltd., a venture by founded by our very own Mukesh Modi has been changing the way financial institutions work in rural India. The society is an innovator in terms of digitalization.Let’s read how:

Adarsh Credit,transforming India digitally!

Our co-operative society has been working towards making India digital and fulfilling the Prime Minister’s dream. We have been providing all digital facilities to our members. Adarsh Credit has joined hands with digital wallet Oxigen to facilitate digital transactions. Our founder Mr. Mukesh Modi is a part of several organizations and is constantly working towards making financial transactions in rural sector more transparent and effortless.

Adarsh Money

We also ensure that rural India can avail financial services through our several technological adaptations. One of them is our mobile money app “Adarsh Money“, which allows rural India to engage in online payment methods.  The introduction of this app has further enhanced the transparency in digital transactions.

Additionally, Adarsh Money also helps Adarsh Credit Co-operative Society Ltd. to take in account the complaints of their members and advisors. This enhances the transparency in our organization and helps increase productivity.

We at, Adarsh Credit realize the importance of awareness about the various financial services available in the rural sector. Hence, we aim to bridge the gap between rural population and financial transactions. This also is key to provide facilities such as account handling, financial transactions or investing in any of our deposit scheme.

Adarsh Credit Co-operative Society Ltd. currently has over 1.7 million members and 809 technologically advanced branches in India. We provide NEFT/RTGS facility to all our account holders. Adarsh Money application is also available in Hindi language which makes it more user-friendly for the rural sections of the society. Hence, we at Adarsh Credit are making NarendraModi’s dream of a cashless society a reality with our various technological innovations.

We aim to provide high quality financial services to the rural sector which helps Adarsh Credit to prosper at a quick pace. Our society has more than a decade of experience and expertise in delivering great value to the members.

Apart from Adarsh Money, we also have other lucrative investment schemes such as Adarsh Triple and more. Check them out now!

Milestone for Adarsh

Another milestone for Adarsh Credit Co-operative Society Ltd. as we participate in SAP FSI Forum in London

The world is going digital and it’s creating a huge impact on every industry. The constant change in technology is opening arenas for more advancement. Like all other sectors, the financial sector is also impacted. It is getting more competitive and that is exactly why this is the right time to go digital! Adarsh Credit Co-operative Society Ltd. has been a part of the SAP Forum from two consecutive years.

Adarsh credit goes to London!

SAP Financial Services Forum brings together over 500 banking and insurance delegates and financial services experts from over 40 countries. We, at Adarsh Credit Co-operative Society Ltd. take pride in announcing that our Managing Director – Mr. Rahul Modi will be an honored speaker at the SAP Forum. He will be talking about the society’s various initiatives towards connecting the masses through the power of mobile technology.

Along with Mr. Modi, many other delegates from all around the world will be sharing their experiences on how they embarked their digital journey. There are many technological milestones that we have achieved being the most techno-savvy Credit Co-operative Society in India. For example, we have implemented IPSEC BO for end-to-end data encryption and installed firewalls for each branch to restrict unauthorized handshake. Additionally, we have implemented and installed NAC (Network Access Controller) for end-point security to limit access in Adarsh’s network over the internet.

We, at Adarsh Credit have also setup real-time DR solutions to ensure business continuity in case of any disaster or unknown situation. There is a disaster recovery setup too, built to help preserve the society’s reputation among customers and partners. This also ensures that our member data is extremely secure and in safe hands.

Financial technology has grown to be an essential part of the industry. Digital methods need to provide a great experience to clients and our Credit Co-Operative Society has taken care of every small detail. Today, our members are having a great experience through the usability, content and access as well.

Indeed, Adarsh Credit Co-operative Society Ltd. is framing the future with its technological milestones. Become a member of Adarsh today!

Adarsh - Adopting the latest technologies

Adarsh Credit Co-operative Society – Adopting the latest technologies

With help of various technological adaptations, Adarsh Credit Co-operative Society has always sustained to be most-preferred among other co-operative societies in India. From its genesis, the society has been delivering the best financial services to its members and also winning their hearts.

Let us have a look at some major adaptations we have done so far:

IBM Flash Storage

Adarsh Credit is the first adopter in co-operative segment to spend in IBM Flash Storage. Flash technology allows our business to analyze more data, process more transactions and accelerate the services. At the same time, it also makes us increase the potential business revenue. Recently, we have executed Cisco Unified Communication Setup which is one more adaptation in the sector of co-operative societies.

Furthermore, ISMS Framework has been also defined for the organization. It’s amazing that we have dual MPLS connectivity in each branch with approximately 1 mbps of bandwidth to maintain the failover.

Great security measures

In our organization, we have installed one of the best-known firewall devices entitled as Watch guard in our branches, DC and DR for maintaining the security aspects such as NAT, content filtering, port filtering, IPs (Intrusions Preventions), SPAM blocker, web filtering and MAC based restrictions.

In order to enable virus protection, Symantec End Point (SEP) has been installed which guarantees dual secure layer and does URL based filtering to protect against malwares and viruses.

Great measures in networking

For end-to-end data encryption, Adarsh Credit Co-operative Society has implemented IPSEC BO and installed firewalls for all branches for restricting unauthorized handshake. Network Access Controller (NAC) is used for establishing end-point security to limited access in Adarsh’s network. Here, devices aren’t endorsed to connect unless they meet pre-defined business policies that are enforced by NAC product every time if any connection is to be attempted.

By using such advancements in technologies and tools, Adarsh Credit Co-Operative Society is on the way forward to deliver best services to its members and advisors.

Benefits of being a member of credit co-operative society

Benefits of being a member of credit co-operative society

Credit co-operative societies are not a new concept. It has been active in almost all the countries since many years now. A credit co-operative society is nothing but an autonomous organisation of people, voluntarily associated to fulfil their basic requirements and aspirations. These societies have their own benefits. Let’s quickly get on them:

1. Easy to form

Formation of a credit co-operative society is simpler than any other business organisations. Any ten or more adults can join together to form the society and even registration is simple and easy. Not much legal formalities are required to maintain for its formation.

2. No membership obstruction

Unless particularly debarred, the membership of such a society is open for everyone. There is no obstruction on the basis of colour, caste, creed, sex or religion. Any person can join the society anytime and become its member.

3. Limited liability

Mostly the liability of members is limited to the extent of capital contributed to the society by the respective members. This way, if the society suffers financial loss, the members don’t have to bear the fear of losing their private property.

4. Economic operations

In a credit co-operative society, there is an elimination of the middlemen which is why the operations carried out by the society are economical. At minimum cost, the middlemen’s services are provided by the members of the society. Also, the recurring and non recurring expenses are also very less.

5. The main motive of service

Members are provided with the best financial services at very reasonable cost.The society also caters financial help to its members at minimal rates. They help their members to set up their production units. For example, Credit Co-operative Societies help farmer members for their agricultural products.

6. Democratic management

Credit co-operative society is exclusively managed by elected members among themselves. All of them have equal rights in all manners and they can also take part actively in the formation or amendments of the society’s policies. This way, all the members are equally important to the credit co-operative society.

Adarsh Credit Co-Operative Society is one of the most recognizable and most trusted credit co-operative societies in India. Our society caters to all these benefits along with extra perks of having secure financial products and great return on investments.

So join Adarsh Credit Co-Operative Society today and become its member.

Enhancing female education in the country

Adarsh Credit Co-Operative Society’s initiative towards enhancing female education in the country

As the world is quickly moving towards digitization, it is necessary to upgrade the level of education and awareness in people , especially when it comes to rural regions of the country, digitization becomes very challenging for them. The dream of making India digital can be achieved only with the collaborative efforts.

We, at Adarsh Credit Co-Operative Society Ltd., understand this very well and we always try to spread the awareness among people regarding cashless transactions. With an aim to enhance the standard of rural education, we have taken a step forward. For the betterment of society, we have thought to have a school, especially for girls.

Even after maliciously dragged into the forged rumours and scandals, we managed to do our best for the betterment of the society. We, at Adarsh Credit Co-Operative Society Ltd., are very happy to announce that we have already taken a step forward towards fulfilling our dream of building Vidhyawadi – a school to educate girls. Our dream is gradually taking shape as its construction work has already begun. Our country is a developing country where female education is a sensitive and yet a significant topic and hence, we have taken this initiative in our hands.

We, at Adarsh Credit Co-Operative Society are looking forward to take more such initiatives in upcoming years and execute them in the favour of society’s welfare.

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.