To beat the adverse market conditions, Karnataka based SUCO Souharda Sahakari Bank has launched the ‘Start-up to Self-Employment’ scheme to develop start-up business which was affected during the Covid-19 Pandemic. The scheme was inaugurated by Karnataka Deputy Chief Minister Sri Ashwatha Narayana.
Talking to Indian Cooperative correspondent bank Chairman Mohit Maski said, “Under the Start-up to Self-Employment scheme, we have tied-up with three organizations and given a chance for people to start their own business. These are Bat Fly- Battery Refurbishing, Samvita- Primary Health Care Diagnosis Kit and NEERAW- Naturally Sourced Health Drink”.
“The Bat Fly scheme allowed the people to start the business of lead batteries which is the most commonly used medium of energy storage. For this, our bank has tied up with Bangalore based Banashree System Private Limited and offering an opportunity for entrepreneurs to open battery refurbishing points’ ‘, Maski added who has been recently elected as the Chairman of the bank recently.
Giving details on other schemes, he said the Samvita scheme is a unique POCD, developed for carrying out on-spot routine health-checks close to where people live. SamVita enables health-checks, early detection on possible health issues-risk, and timely advice to care experts for further course of consultation. Any practising doctor who does only consultation can use the SAMVITA kit to perform routine health checkups like pulse, ECG, Blood test, CBC etc For this we have tied up with Wenzins Technologies Pvt Ltd, Bangalore with an objective to make healthcare more affordable for everyone”, he underlined.
Lastly, under the NEERAW scheme we are giving opportunities to entrepreneurs to open franchises of Nee Raw in their towns. Neera is the liquid tapped from the inflorescence of the Coconut tree. One glass of Neera is equal to six glasses of tender coconut water. For this the bank has tied up with FPO namely Malenadu Nuts and Spices Producer Company (MNS), Maski said.
The average costing to start the business is about Rs 4 lakh and the bank is giving loans at the rate of 13.5 ROI to the entrepreneurs. The repayment duration is three year. “Our objective is to help the people who lost their business due to Covid-19. Under the ‘Startup to Self Employment’ scheme any person looking to start their own business can avail credit facility and start earning their livelihood”, he concluded.
The bank is also planning to launch such schemes for its own customers in near future.
Suco Souharda Sahakari Bank Ltd., is a leading Co-operative Bank in Karnataka. Also known as the SUCO Bank, the Bank has many firsts in the co-operative sector.
The banks are facing challenges due to adverse market conditions, especially Cooperative Banks which are having limited offers to entertain their customers. In a bid to come out from this problem Urban Co-op banks are coming with new schemes to attract the customers.
