Gondia (Maharashtra)-based Sahayog Multistate Credit Cooperative Society is gearing up to expand its operations into Uttarakhand and Madhya Pradesh in the coming months.
“All the necessary formalities with the concerned authorities for opening branches in Indore, Madhya Pradesh, and Dehradun, Uttarakhand, are almost completed. We are set to open the branches within a couple of months. The locations have been identified, and furniture work is underway,” said Sandeep Singh Bhatia, CFO of the society, speaking to this correspondent.
He further added, “Previously, our area of operation was limited to Maharashtra and Karnataka, but we recently received approval from the Central Registrar of Cooperative Societies to expand into Madhya Pradesh and Uttarakhand,” he said.
The society currently operates 120 branches, with the majority located in Maharashtra and a few in Karnataka. Its total business stands at around Rs 1,400 crore, with a net profit of Rs 8.50 crore, Bhatia informed.