The CEO of the largest credit co-operative in the country Buldana Urban has made an earnest request to the Prime Minister Natrendra Modi to help arrest the plummeting confidence of people in the fifty thousand credit co-operatives active in the country.
In the wake of demonetization an impression is being created that all the credit cooperatives are thieves and this has led to erosion of faith among the members in these cooperative institutions, says Sukesh Zamwar, CEO of Maharashtra headquartered Buldana Urban which employs approximately 5500 workforce and boasts a business mix of 1.3 billion USD.
“There are indeed some which have resorted to malpractices but painting all with the same brush is not correct”, Zamwar added.
Elaborating on the role being played by credit cooperatives in the country Buladana CEO says there are 8 to 10 crore people linked to credit co-ops one way or the other. There are about one crore people who are employed in the sector spread across the country, Zamwar summarized.
Zamwar appeals to the Prime Minister to let people know that all 
This will restore people’s faith and save jobs of about one crore peole threatened in the wake of demonetization, Zamwar makes an impassioned appeal in a letter written to the Prime Minister.
“There were indeed cases of malpractices and foul-play by some of us post the announcement of demonetization; such incidents have also affected those honest cooperators who were in the business with a sense of service to poor and downtrodden”, Zamwar says.
“I appeal to the Prime Minister on behalf of one crore workers and fifty thousand credit co-ops-some state based and other multi-states to help save us from the disinformation campaign putting the cooperative sector’s very survival at risk ,” said Zamwar.