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Chairman's Speech

Radheshyam Chandak

Founder, Chairman
Buldana Urban Co-Op. Credit Society Ltd.

Worship of Trust...
A Warm Welcome to all!
I have great pleasure in extending a very warm welcome to all of you. As I complete this journey of 30 years in a quite organized manner it gives me immense pleasure and satisfaction by all means. The past has yielded a better tomorrow. Together, we had sown the seeds for a better tomorrow and indeed, we are witnessing the harvest in its full bloom. The weaker sections of the society for whom we have been striving since inception are benefitted in various ways. It is with contentment I say that the toiling has not gone in vain. The obstacles were many, at times, our dream appeared to be fading yet, over the years it has sustained each hardship and is seen standing erect, protecting all from the withering adversities.

I am utterly satisfied with the progress made at our end while I am fully aware that this is a result of harmony where hearts have combined with hands. Throughout the journey of patient endurance I was never left alone even for a single moment. Through thick and thin, my friends, supports, colleagues, staff and the thousand members have stood with their feet firmly rooted by my side and are now basking in the glory of the 30th year.

It's my pleasure to present this 30th Annual Report. Apart from the outstanding team work, faith has played an important role in our accomplishments. The word 'faith' has always had a prominent place in my heart. Since day one we have emphasised on treating our customers as we would treat our family member. Buldana Urban has believed in ‘For every family, for every member in the family’. Thus, with each newly joined member our organization grew in all direction spreading assurance while giving excellent customer services. BUCCS strives continuously to enhance the level of customer satisfaction.

With a whopping increase of 25% the Society now has a deposit of Rs. 4514 crores. The loan disbursement accounts for Rs. 3524 crores out of which Rs. 925 crores is against gold pledged with the Society. Apart from deposits and loan disbursement, the Society takes pride in serving customers with SMS banking, RTGS, NEFT, net banking etc.
Started from a meager capital of Rs. 12,000/- and a member base of 72 members BUCCS has crossed a turnover of INR 10,000 crores. The 390 branches serve customers relentlessly. The 310 warehouses provide huge store to the farmers’ produce. Customer satisfaction has been at the core of our working. Our efficient staff and the Board of Directors have put in valuable contribution. BUCCS is a chain where the smallest link is equally important. Empowering the community through socio-economic development of the underprivileged and weaker sections is a continuous process for us and will remain so. In its continued efforts to make a difference to the society at large, we have intensified efforts in this direction. Quality service and fair deal is motto behind every thought and the step we took. We are putting in efforts to boost the rural economy as much as possible. This is reflected in our day to day functioning. We have worked and developed a module to help the weaker section of society by providing hassle free loans among the various sectors including farmers, small scale industrial units, SHGs apart from ware-house security loan and gold loan.

The first ever credit society was founded in Germany. Thereafter cooperative movement was spread by and large. What made BUCCS different from other credit societies is the innovative way of working along with its social banking and proper implementation of cooperation, the path shown by our leaders from Cooperative Sector in the beginning of twentieth century. We believe that cooperation is the key to reduce the vast economic difference separating the world.

Competition is now a key word in every sector, be it or economic or experimental. Cooperative is the only sector where people are compiled to cooperate while moving towards progress. BUCCS has realised and embraced it. Women empowerment is made possible by providing loan facilities to SHGs while creating a platform for online sale of their products. Apart from financial help, BUCCS has been rendering services for protection of cows, hearse and ambulance service and Bhakt Niwas at Mahur and Tirupati. Being aware of the importance of education for rural section we are implementing various modules in our schools and hostels. While working for rural development we are also providing pure drinking water. Employment generation for the rural youth is one of our major work areas. Organization grows with the valuable support of members. We have indeed been lucky to have it. To serve them better, we have added various services and have been continuously coming up with newer projects for the members. Travel and tourism is one of such projects. Botha Jungle Safari and Rameshwaram-Kanyakumari tour were two new destinations in Jan-Feb 2016 year where thousand tourists were entertained.

To improve the condition of our country one has to start from the core. Keeping this in mind, we are trying to implement various ways to keep our villages and town clean. Sustainable farming is also receiving our keen attention. This will help our villagers and customers to earn well. Their economic progress will speed up our economic progress in the long run. Today, BUCCS has 319 warehouses spread over 2487492 square feet with a huge storage of 3731238 quintals. The Society owns 159 of the warehouses. All the farmers-members are hugely benefitted by these storehouses. They are also entitled to loan against the produce stored.

Though finance is the base of our operation BUCCS has long since realised that education and technology is the backbone of the progress of any society. We are also putting efforts in both these fields for betterment of society at large.

I am proud to declare 15% dividend to the members for consecutive 29th year.

Prominent figures and esteemed members of the society have visited BUCCS throughout the year. A few to name are; the Hon. Mr. Nitinji Gadkari, Minister of Road Transport and Highways; Central Govt.; BJP State President Mr. Raosaheb Danve, Hon. Ministers from Maharashtra State, Mr. Vinodji Tawde, Mr.Girish Bapat, Mr. Babanrao Lonikar, Mr.Ranjeet Patil, Commissioner of Cooperative Dept. Mr. Chandrakant Dalvi and Chairman of Tirumala Tirupati Devasthan Mr. Chadalwada Krishnamurthi.

Thanks to all the dignitaries for their kind presence. I also thank to all concern departments from Central & State Govt. who have helped us.

I am thankful to YES Bank, Bank of India, Union Bank and Indian Overseas Bank for their continuous support.
The honorable members, depositors, directors, local advisory members of BUCCS, my staff and representatives are always guiding force behind me and the organization. Their involvement and endearment has kept the movement alive.

Thanks to all of our internal auditors, valuers and lawyers for helping us to have fair and transparent transactions.
Thanks to M/s Rajandekar & Associates, Nagpur and Abhay Gundecha & Co. Pune, the Statutory Auditors of our organization, for their contribution in fair deal. Wishing Prosperity to Rural India!

Yours,
Radheshyam Chandak
Founder Chairman