ISSUES WITH COOPERATIVES

abhishreshthaa

New member
Technology plays a pivotal role in providing efficient customer service, creation of management information systems required at all levels of management hierarchy and assist in decision making. In the present competitive environment, to withstand competition and also to cater to wider and expanding service areas of its customers the use of technology definitely gives an edge over others.


Realizing this, The Kapol Co-operative Bank Limited had fully computerised its operations way back in 1992, and more and more banks are falling in line. Various Co-operative Banks continue to upgrade the branches with latest technology and offer customer friendly facilities at all the branches which includes services like tele-banking, internet-banking, dmat services, ATMs (both in Branches and Off-line), etc.



The underlining contributory factors for the stupendous growth of Co-operative Banks namely are increasing standard in customer service, customer centric / oriented services and facilities, speedy grievance redressal system backed by quicker decisions and closer ties with the customer & Management at helm.


Better fund management and efficiency ensured by Management including Directors mostly hailing from all walks of life with personal supervision and working selflessly with a sure commitment to serve the common man.


The result of the spectacular growth of the Co-operative Banks helped this sector surpass many private sector banks in the recent past. The advent of new players in private sector has not adversely affected the growth of Co-operative Sector Banks due to its co-operative and social objectives with which they function, Infact this resulted in making these co-operative banks more aggressive and dynamic in their functioning.



At the same time co-operative banks are competing with Nationalised Banks having multiple problems of managing huge manpower, nationwide operations and Private Sector Banks becoming more high value customer centric backed by latest technology, common man started "banking" on co-operative banks who have not lagged behind in technology upgradation either assisted by convenience banking.



Some of the major co-operative services are as follows:

1) The Co-operative Banks have devised special interest rate for Senior Citizens. Additional interest is being offered on Term Deposits from Senior Citizens. They can also avail loan against Fixed Deposits at concessional rate of interest on Term Deposits. Loans are sanctioned immediately and upto 100% of deposits in case of emergency.


2) Educational Loans to students.

3) Housing loans at competitive rates.


4) Offers depository services as depository participant of NSDL.


Besides these co-operative Banks have various other schemes to suit the needs of small traders, businessmen, economically weaker sector, as well as working capital needs of the corporates.
 

bhautik.kawa

New member
Technology plays a pivotal role in providing efficient customer service, creation of management information systems required at all levels of management hierarchy and assist in decision making. In the present competitive environment, to withstand competition and also to cater to wider and expanding service areas of its customers the use of technology definitely gives an edge over others.


Realizing this, The Kapol Co-operative Bank Limited had fully computerised its operations way back in 1992, and more and more banks are falling in line. Various Co-operative Banks continue to upgrade the branches with latest technology and offer customer friendly facilities at all the branches which includes services like tele-banking, internet-banking, dmat services, ATMs (both in Branches and Off-line), etc.



The underlining contributory factors for the stupendous growth of Co-operative Banks namely are increasing standard in customer service, customer centric / oriented services and facilities, speedy grievance redressal system backed by quicker decisions and closer ties with the customer & Management at helm.


Better fund management and efficiency ensured by Management including Directors mostly hailing from all walks of life with personal supervision and working selflessly with a sure commitment to serve the common man.


The result of the spectacular growth of the Co-operative Banks helped this sector surpass many private sector banks in the recent past. The advent of new players in private sector has not adversely affected the growth of Co-operative Sector Banks due to its co-operative and social objectives with which they function, Infact this resulted in making these co-operative banks more aggressive and dynamic in their functioning.



At the same time co-operative banks are competing with Nationalised Banks having multiple problems of managing huge manpower, nationwide operations and Private Sector Banks becoming more high value customer centric backed by latest technology, common man started "banking" on co-operative banks who have not lagged behind in technology upgradation either assisted by convenience banking.



Some of the major co-operative services are as follows:

1) The Co-operative Banks have devised special interest rate for Senior Citizens. Additional interest is being offered on Term Deposits from Senior Citizens. They can also avail loan against Fixed Deposits at concessional rate of interest on Term Deposits. Loans are sanctioned immediately and upto 100% of deposits in case of emergency.


2) Educational Loans to students.

3) Housing loans at competitive rates.


4) Offers depository services as depository participant of NSDL.


Besides these co-operative Banks have various other schemes to suit the needs of small traders, businessmen, economically weaker sector, as well as working capital needs of the corporates.

Hi abhi,

here i am sharing Cooperatives Issues and trends in developing countries, please check attachment below.

Thank you!
 

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