Updates from the 20th AGM of ACCS
In the 20th Annual General Meeting of Adarsh Credit Co-Operative Society, we had announced a 16% dividend for our members. The members present in the Annual General Meeting approved the announced dividend, which eventually marked the beginning of dividend payment process. We are indeed proud to see this announcement making headlines across the regional media.
During this AGM, Our Managing director Rahul Modi stated that in this financial year, the share capital of the society and the reserve fund has increased by 40.48 per cent and the total amount of reserve and share capital has increased to 2705.65 crores.
Apart from this, the capital adequacy criterion of the society has been 35.60%, which reflects the ideal financial status and capital security of the ideal. The committee has earned a profit of Rs 481.28 crores in the FY ending March 31, 2018, which is a major achievement in itself. The number of members of the Society has also witnessed a good rise and the total number of members has boosted to over 20 lakhs.
He said that the web version of the Adarsh Money Mobile app has been launched and has been quite well received. This app will enable member subscribers to avail financial services through web version. The process of nomination of members is also being digitally executed, which will lead to digitization and it is a step towards paperless functioning. Currently, 100% of the society’s transactions are being done through our Money Mobile app.
We have also initiated the facility of digital signature, which makes it possible to open online accounts. The e-FDR will soon be issued to member subscribers and they would also be able to apply for member loan through Adarsh Money Mobile app.
Furthermore, the members will also be provided the product and facilities of other institutions on the cross-cell platform. All these key accomplishments of the organization have been appreciated not only in the country but also on the global forums, Adarsh Credit has been felicitated with myriad awards and accolades.
The extensive press coverage goes on to reiterate the fact that the Adarsh Growth Story shall inspire our generation in the years to come.
You can read the full coverage here:
Ashoka News: https://bit.ly/2rHAxQL
Dainik Navjyoti: https://bit.ly/2wH1I2T
Dainik Bhaskar : https://bit.ly/2wGLNBx