Intro:
Wondering how co-operative societies can stand strong against NBFCs? Let’s break it down.
Content:
Co-operative societies can compete effectively with NBFCs by focusing on community trust, personalized service, and lower operational costs. Unlike large NBFCs, co-operatives work closely with their members, understanding local needs and offering tailor-made financial solutions.
While NBFCs may have a wider reach and faster digital processes, co-operative societies have the advantage of personal relationships and member-driven growth. Their profits are shared among members, ensuring benefits stay within the community.
By adopting simple digital tools, improving transparency, and maintaining competitive interest rates, co-operative societies can combine their local trust with modern efficiency — becoming a strong alternative to NBFCs.