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Cryptocurrency: United Multistate Credit Co-op in news


Cryptocurrency: United Multistate Credit Co-op in news
The name of United Multistate Credit Co-operative Society has cropped up in media reports as in association with cryptocurrency bank Cashaa, it proposes to launch cryptocurrency in India.
It bears recalling that the RBI has not taken kindly to the idea of cryptocurrency bank Cashaa launching banking operations in India. Sources say the firm intends to operate without the RBI’s permission because a multistate credit co-operative society is “registered and works under the Registrar of Societies.
The Cashaa bank says it has launched Unicas, the world’s first crypto-friendly financial institution with physical branches in India in association with the United Multistate Credit Co-operative Society. ....

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Tumkur Merchant Credit Co-op becomes the first to use AI


It was a pleasant shock for the co-operative sector in the country when the news of Karnataka based Multi-State Cooperative Society-Tumkur Merchants Credit Cooperative Limited (TMCC) leapfrogging to AI-era, bypassing digital era, grabbed the headlines.
TMCC, one of the fastest-growing financial institutions in the country with over Rs.1,000 Crore in assets, aims to offer Artificial Intelligent powered banking experiences to all its customers through the partnership with Interface, a global Intelligent Virtual Assistant (IVA) provider for Financial Institutions.
In this first-of-a-kind initiative among cooperative societies in India, TMCC aims to leapfrog customer service from only occurring at physical branches to an AI-first customer service approach, essentially bypassing traditional digital experiences offered by financial institutions. ....

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