Pune: Progress Of Every Segment Of Society Is Crucial For India's Development, Says Maharashtra Governor CP Radhakrishnan

For India to become a developed nation by 2047, the progress of every segment of society is essential, stated Maharashtra Governor CP Radhakrishnan during the inauguration of a special department established to provide financing to micro and small entrepreneurs at the ‘Sahakar Sabhagruha' of Cosmos Bank.

In his speech, Radhakrishnan further emphasised that despite the diversity in languages, castes and creeds in India, the country is united by its religion, culture and heritage, which is its true greatness. He stressed the need to provide healthcare, housing and food to the most marginalised individuals in society, and urged everyone to work towards achieving this goal. To accelerate progress, it is crucial to offer loans to small entrepreneurs. Banks should foster and financially support these enterprises through personalised services, a robust work culture and trust. Small borrowers are generally very prompt in repaying their loans, resulting in a low NPA (Non-Performing Assets) percentage in the microfinance sector. He praised Cosmos Bank for its commendable initiative and noted that the bank has a great tradition, with contributions from every staff member, constant hard work and dedicated customer service being its legacy.

On this occasion, Cosmos Bank’s Chairman, CA Milind Kale, stated that considering the financial needs of small entrepreneurs, Cosmos Bank has introduced loans ranging from ₹20,000 to ₹5 lakh. These loans are offered at a reasonable rate of interest. The Indian economy will become more dynamic with the growth of small entrepreneurs. The bank continually trains its employees and upgrades its technology to meet the ever-evolving challenges. Kale also added that the bank is committed to the interests of its employees, members, depositors, and account holders alike.

Swami Govind Dev Giri Maharaj, speaking at the event, reflected on India’s past prosperity, noting that the country's ancestors knew how to create wealth and manage expenses. Cosmos Bank has been doing the same for over 100 years, boosting the confidence of the common man. He said that the nation is developing alongside the progress of the ordinary people, and predicted that India is on the cusp of a golden era.

While welcoming the dignitaries, the bank’s Managing Director, Apekshita Thipsay, explained the purpose behind the establishment of the new department. The bank’s Vice Chairman, CA Yashwant Kasar, also shared his thoughts during the event. All the bank’s directors, executives, and staff were present.