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Buldana Urban Cooperative Credit Society

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Buldana Urban Cooperative Credit Society
Company typeCredit Union
IndustryBanking
Financial services
Founded15 August 1986
HeadquartersBuldana, Maharashtra, India
Area served
India
Key people
Sukesh Zamwar
(Managing Director[1])
Productsconsumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, savings, Securities, asset management, wealth management, credit cards, general insurance
RevenueIncrease ₹64,845,595,458 (US$780 million)(2013)
Increase ₹516,186,822 (US$6.2 million) (2013)
OwnerMembers of Buldana Urban
Number of employees
5000 (2013)
Websitebuldanaurban.in

Buldana Urban Cooperative Credit Society was formed on 15 August 1986. Chairman (Mr.) Radheshyamji Chandak started it with capital of 210 USD and 72 members. In a span of 27 years and mainly in last decade under managing director Dr Sukesh Zamwar,[2] the Credit Society has grown to size of 1.1 billion dollar business with more than half a million (700,000) membership. The area of operation is mainly in central and western India in four states of India. Now the society has 333 branches and 5000 employee and 300 warehouses. Total built up area for Warehouse is 5,000,000 sq feet and capacity of 435,000 metric tons. It maintains a presence in most of the metro cities of India and also in rural areas.

Working area of buldana Urban.

Awards and achievements

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Activities

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The co-operative society business activities mainly are in warehouse loan business, gold loan business, industrial finance, infrastructure finance business, housing loan and vehicle loans, individual loan business, and education loans. Lending is not to be the sole business of any credit union; it must do something for members.

The Credit Society's principles, or breakout innovations are:

  1. Four Pillar System – all the money in the world goes to banks.
  2. Social banking – people's money should be utilized for well being of people.

Technology use

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To handle business for its 700,000 customers scattered in four states and 5,000 employees, its branches are connected by a core banking network, a data center and core banking software. It provides facilities for debit card, internet banking and mobile valet to customers, as well as real time money transfer and online warehousing. In India, the banking sector is still lagging behind the developed world, so to reach unbanked people in Buldana Urban, it has started a mobile banking van.

The society has a tie up with Yes Bank for a doorstep service, called Nano Teller, through which the society's employee provide customers to deposit or withdraw up to ₹10,000 from their savings account. In 2012, the service was started in Pune.[8]

Buldana Urban Industries

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Buldana and its subsidiaries run many industries

  1. Pharmaceutical company manufacturing anticancer drugs
  2. Mineral water plant
  3. Cleaning and grading units at warehouses with day packing facility
  4. Sugar factory
  5. Milling of pulses
  6. Soybean Seed plant
  7. Village development programs
  8. Buldana Urban Credit Care[9]
  9. Safety And Security Company[10]
  10. Buldana Urban Charitable Trust[11]

References

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  • Raut, Arvind K. (2014). "A Study of Human Resource Planning, Recruitment & Selection Procedure of Buldana Urban Co-operative Credit Society Ltd". In Dr. Dilip B. Patil, Dr. Dinesh D. Bhakkad (ed.). Redefining Management Practices and Marketing in Modern Age. Atharva Publications. p. 43. ISBN 978-9382795858.
  • Arya, Shishir (11 March 2013). "This urban credit cooperative society strikes gold in farm loans!". The Times of India. Timesofindia.indiatimes.com. Retrieved 16 June 2014.
  • "Annual Report 2013" (PDF). Buldana Urban Co-operative Credit Society. Retrieved 16 June 2014.[permanent dead link]
  • "Annual Report 2012" (PDF). Buldana Urban Co-operative Credit Society. Retrieved 16 June 2014.[permanent dead link]
  • "Buldana Urban Co-operative Credit Society". Tuugo.in. 21 December 2012. Retrieved 16 June 2014.
  1. ^ "Buldhana Society to open branch in Karimnagar today". The Hindu. The Hindu Group. 25 November 2013. Retrieved 8 September 2014.
  2. ^ "Buldana Urban". Archived from the original on 19 January 2015. Retrieved 2015-01-19.
  3. ^ "Buldana Urban Co-opp. Credit Society, Buldana". Retrieved 17 January 2015.
  4. ^ "ICA: International Co-operative Alliance – Welcome to the official website of the International Co-operative Alliance". Retrieved 17 January 2015.
  5. ^ Vsdongre Dongre (14 November 2014). "Dr Sukesh Zamwar". Retrieved 17 January 2015.
  6. ^ Vsdongre Dongre (3 November 2014). "Dr Sukesh Zamwar". Retrieved 17 January 2015.
  7. ^ "Winner List". Retrieved 17 January 2015.
  8. ^ Wadke, rahul (7 February 2012). "YES Bank ties up with Buldana society for doorstep service". The Hindu. Retrieved 19 June 2014.
  9. ^ Corporate dir
  10. ^ Corporate dir
  11. ^ Zaubacorp
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