|| SHANIWAR AAMWAD || 16-07-2022

 Last week discussed the initiative of the government and the possible benefits, will drive from this initiative.

 The series of reforms in the cooperative sector is going to change the rural economy, particularly the agriculture sector.

The requirement of the rural market is changing fast with products and services with at-par features comparable to urban areas.

The scheduled banks are focusing on this segment now and penetrating the market very fast.

The relationship with the customer is getting strong.

Traditionally, PAC with deep roots in the rural market with a long time relationship and insight into customer behavior.

The primary society caters to different types of loans along with offering assistance in the government schemes that have a major impact on its customers.

Once this society will come on a single platform the duplication of benefits and beneficiaries will be established with total transparency. The duplicacy will be avoided along with fraud getting avoided.

The tie with big financial institutions will add not only product category it will also add better price realization for their services withholding customers for a long time.

The products they are selling have limited features as they are not able to match it with big banks either PSU or private.

The aspiration and requirement will match this along with high retention.

The RBI allowed importers to settle their import bills in Rupees. It is just the first step in making the Rupees as currency for international trade.

The decision which is taken after the Russia Ukraine war, as a sanction against Russia created this situation. Presently currencies that are used in international trades are the dollar, pound, yen, euro, and renminbi.

We used the current situation for our own benefit and started importing using the Rupees.

Major trade will be energy and diamonds which we need going forward it will be used for all other goods and services in all geography.

Both initiatives will make us self-dependent.


Location: India

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