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Get to know Adarsh Credit Co-Operative Society Ltd.

Founded in 1999, Adarsh Credit Co-Operative Society Ltd. was a multi-state credit cooperative society headquartered in Ahmedabad, India. It aimed to promote thrift and financial cooperation among its members by accepting deposits and providing loans. The society grew rapidly, amassing over 2 million members and a network of more than 800 branches across India. However, in 2018, a massive fraud was uncovered, revealing that the society's promoters had siphoned off thousands of crores of depositors' money through fictitious loans to shell companies. This led to a government-ordered liquidation and multiple investigations by federal agencies.

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Adarsh Credit Co-Operative Society Ltd.

India

Founded in

1999 (27 Years)

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A Grade License

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Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

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From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

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