Shri Sant Nagababa Multistate Co-op wipes out losses; earns profits

Maharashtra-based Shri Sant Nagababa Multi-State Cooperative Credit Society, once grappling with financial challenges, has staged a remarkable comeback, emerging as one of the fastest-growing cooperative societies in the region.

The society, headquartered in the Ahmednagar (officially Ahilyanagar) district, successfully wiped out all its losses and reported a net profit of Rs 1.84 crore in the financial year 2023-24, marking a significant milestone in its journey.

This turnaround story is spearheaded by Kadubhau Kale, a well-known figure in Maharashtra’s credit cooperative circles, despite his modest academic background. Kale, who did not complete his formal education beyond the ninth grade, has shown exceptional leadership and vision in steering the society toward financial stability.

Reflecting on the society’s challenges, Kale shared, “We faced numerous ups and downs, particularly during the Covid-19 pandemic. The situation worsened, but we were fortunate to receive a lifeline from the Buldana Urban Multi-State Cooperative Society, which provided us with a loan when we needed it most. We are deeply grateful for their support.”

With diligent efforts and a strategic approach, the society has not only repaid its debts but has also built a robust business portfolio. As of now, the society’s business mix exceeds Rs 2,000 crore, with non-performing assets (NPA) levels under control.

The organization has employed over 450 people, including freshers without prior experience and physically challenged individuals. It has also provided jobs to the children of sugarcane farmers, reflecting its dedication to inclusivity and community upliftment.

Shri Sant Nagababa Multi-State Cooperative Credit Society stands out for its strong social commitment. “Our society is of the poor, by the poor, and for the poor,” Kale emphasized.

The society also offers unique services to its stakeholders. For instance, it provides free tiffin services to shareholders who travel long distances to hospitals in Ahmednagar for medical treatment. Furthermore, Kale’s environmental initiatives have inspired 5,500 shareholders to plant trees in their backyards, contributing to a greener future.

Looking ahead, Kale has ambitious plans for the society. One of his dreams is to establish a hospital that offers affordable medical care to underprivileged people. “Healthcare should not be a privilege but a right,” he said, expressing his determination to make this vision a reality.

Additionally, the society plans to actively contribute to the National Campaign on Poshan Abhiyan (Nutrition Mission) and Tree Plantation, further strengthening its role in national development.

Another unique feature of the society is its initiative to rescue cows from slaughterhouses. After taking legal action, the rescued cows are brought to Shri Sant Nagebaba Goshala. The Nagebaba Parivar has made arrangements for food and water for these cows, with approximately 200 currently housed at the Goshala.”

With its resilient leadership, innovative initiatives, and unwavering commitment to social causes, the Shri Sant Nagababa Multi-State Cooperative Credit Society is not just recovering but also setting an inspiring example for other cooperatives in the country.