The Head Office of Samriddhi Mahila Sahakari Bank- a leading urban cooperative bank of Udaipur in Rajasthan was inaugurated by Gulabchandji Kataria, Minister for Home in the state.
The patron of Sahakar Bharati Satish Marathe delivered the Key note address on the occasion.
Addressing the function, the Minister said the bank would finance the financially challenged women and help them stand on their own feet. He also lauded the role played by the UCB in the past.
Writing about the UCB on his Face Book wall Marathe said Samriddhi Mahila Sahakari Bank is one of the foremost techno savvy UCBs in the country and the only UCB to launch IMPs (Mobile Payment) in Rajasthan.
Marathe said unless the UCBs harness technology and particularly make available emerging payment gateways such as IMPs (Mobile Payment ), it would not be able to compete with other banks in the future.
Marathe has been raising the point on social media and been worked up about the future of urban cooperative banks and credit cooperative societies.
Small Finance Banks ( SFBs) and Payment Banks (PBs) together are going to open about 3600 branches soon. Collectively, SFBs and PBs would bring in Rs 7400 crore as capital. Entry of these new categories of banks could pose a big threat to the existing Urban Co-op Banks, Marathe felt.
Those present on the occasion included Vice Chairperson, Dr Kiranji Jain, Chairperson, Mukeshji Modi and others.