Frequent Asked Questions

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Members money is safe

Absolutely. Because- Government of India has framed the laws/rules to ensure the security and safety of deposits. Ujala Credit Co-Operative Society strictly abides by the rules and regulations framed by Central Government. The Multi- State Co-Operative Societies Act, 2002, has provisions as under-Rule 66 - Restriction on loans – (1) A multi- State co- operative society, other than a co- operative bank, shall not make a loan to a member on the security of his share or on the security of a non-member.

Rule 67 - Restriction on borrowing - (1) A multi- State co-operative society may receive deposits, raise loans and receive grants from external sources to such extent and under such conditions as may be specified in the bye-laws.

Provided that the total amount of deposits and loans received during any financial year shall not exceed 10 times of the sum of subscribed share capital and accumulated Reserves. Provided further that while calculating the total sum of subscribed share capital and accumulated Reserves, the accumulated losses shall be deducted. We are happy that Ujala Credit Co-Operative Society is following the rules of government of India.

Professionally Managed

Ujala Credit Cooperative Society is 100% professionally managed by experts in the field of Cooperative, Banking and Finance with vast experience. All our branches are online and work on Core Banking System (CBS) software. Entire operational process and accounting is done on the lines of a professional bank with total transperancy ensuring the safety of member depositors.

Secured and Micro Loans

The deposits received by Ujala Credit Cooperative Society from the members are used ONLY to provide loans to its members in Secured and Micro Credit form. This is managed by professionals to ensure quality of credit so as the members money is safe. We believe that we are custodians of member's deposits and it is our responsibility to ensure same day maturity payments...Always.