Not only big cooperatives but also small ones are helping the needy in the present crisis situation.
One of the Mumbai based credit cooperatives namely Dharavi Sahakari Patpedhi Maryadit will not collect the interest as well as principal amount from its borrowers for two months.
In a chat with Indian Cooperative correspondent, the bank chairman Adv. Pradip Kadam said, “Mostly slum dwellers and poor people of the community who have taken loans for starting a business or for education.
As we know, all businesses are closed and there is no earning. So, we have decided not to collect the outstanding dues from the borrowers, he added.
He further said, around 2500 mahila groups have taken loans from the society and over Rs 8 crore is the outstanding dues which is to be recovered from the borrowers. We have instructed collection agents not to collect dues from the borrowers for two months. This will be a big relief to them”, he hoped.
Besides, the society is also active in providing the essentials items including food grains, rice, Lentils and other things to the needy people.
Established in 1986 with a business mix of Rs 36k with 250 members, the credit coop today proudly claims to have a turnover of about Rs 35 crore.