RCHFS felicitates kin of Covid warriors; MoS Karad attends

Maharashtra based Shree Ravalnath Cooperative Housing Finance Society (RCHFS) organized an event to honour the kin of Corona Warriors who sacrificed their lives saving the patients.

An emotional moment for many participants, multi-state co-op RCHFS organized this event at NCUI headquarters in Delhi on Wednesday, in which Union Minister of State for finance Bhagwat Karad, among others participated.

About 13 kin of Covid-19 Warriors were felicitated with a cash prize of Rs 10k on the occasion. During the proceeding of felicitation to the family members of Covid warriors, a few of them got emotional.

Addressing the participants, MoS Karad recalled those days when the nation was grappling with the outbreak of Covid-19 and said many doctors and members of the medical fraternity lost their lives in the service of society. There was a shortage of beds, PPE kits, masks, ventilators but we overcame the Covid crisis, he stated.

Lauding RCHFS for playing its part as a responsible member of the society, Karad said the multi state co-op society (RCHFS) is doing praiseworthy work in the interest of poor strata of the community and giving finance to them at a reasonable rate of interest.

Hinting at the robust co-op movement in the country, Karad said the cooperative movement of the country works with full dedication to help the downtrodden people across the country and no one can overlook their contributions.

In his remark, RCHFS Founder Chairman M L Chougule informed the participants about the society. “The deposits and loan of the society as on 28 Feb 2022 was Rs 330 crore and Rs 243 crore respectively. The total business is more than 650 crore and it has earned a profit of Rs 1.40 crore in last financial year i.e. 2020-21. The society has a network of 9 branches across the state of Maharashtra and Karnataka.

On the occasion, Chougule also placed several demands from the dais in front of the Minister. He requested that RCHFS should be allowed to operate under the Pradhan Mantri Awas Yojana. Chougule also demanded that his co-op should be allowed to expand to Goa and Delhi. “We have applied and are awaiting a response from the Central Registrar”, said the Chairman asking the MoS to look into the matter and help.

Though the society is small, it is equipped with all the modern banking facilities including Mobile Banking, Micro ATM, RTGS, NEFT and others. Established in 1996 with Rs 10k share capital and 18 members, the society’s share capital & funds are Rs 23 crore and more than 9100 members are associated with the society, informed the Chairman.

Besides, the society is active in social services. During the first wave of Covid-19, society distributed masks and sanitizers to the staff members of Gadhinglaj Sub-District Hospital, among others.

Union Minister of State for Cooperation B L Verma had also sent his consent for the event  but due to his last minute engagement, he could not attend it. National Human Rights Commission Member Dnyaneshwar Mulay and some NCUI officials including Ashish Diwedi and Sandhya Kapoor were present.