The Cash crunch happened due to the demonetization of SBNs adversely effected the functions of a cooperative Society. We are holding reserve cash at DCCB. Due to the RBI restriction, we could not able to withdraw sufficient money from DCCB to cater our customer's needs. DCCB is treating us as a current account holder and we could able to withdraw maximum of Rs.50000/- per week. We were almost on the verge of shutdown . Customers are concerned about the security of their deposit and they were panic. Some how due the technical support in the IT dept of the PACS, we could able to manage the transactions through NEFT/RTGS with the account at Other Banks.

All the local retail market were collapsed due to the shortage of short notes. Some of the retailers were lost his goods due to non business days.

In this scenario, Thenhipalam Cooperative Rural Bank , a hiteck cooperative society introduced a new concept called COOPaise and we are transfering the money from savings bank of the customer to marchant account with in seconds with the help of an Android app. This app is called "My Bank" can be downloaded from google playstore and customer can register through app.

Currently we have almost 1200+ merchants in and around the area of operation. We are providing QR code to all these vendors and we are sticking the QR code in front of the shops and educating the vendors as well as customers with the help of Green Earth farmers club , which is registered under NABARD. Green Earth is the business correspondent of the PACS. 120+ rural BPL youths are working under farmers club as BC. All these brigade armies are making the awareness to the public about the need of digital banking

Currently QR code is available almost all Kirana Shops,Medical shops,vegetable shops etc and also available at Autorikshas/Taxies.Through the scanning of the code or by selecting Merchant id, customer can make the payment. The main highlight of the the app is that even customer is not in the station to scan the QR code , a representative can buy the materials from the shops. In this scenario, customer can make the payment by selecting merchant id. Both customer and the merchant will get a confirmation sms from PACS.

Coopaisa is an innovative no-cash no-card payment solution that allows public to pay for their daily needs, whether it is groceries or travel by auto-rickshaws, using their mobile phones. This solution will be chiefly beneficial in rural areas, where the majority of the population would have an account in the local cooperative bank. The app is provided to both vendors and customers. The customer has to scan the QR code kept at the vendors’ premises and type in the amount owed to the vendor to instantaneously transfer the amount from his account to the vendors account. If the customer is uncertain, the vendor can assist in the payment solution without compromising the security. Both parties will receive SMS confirmation indicating successful transaction. Coopaisa is 100% secure, instant and available 24*7.

One more major area is , customer need not required smart phone. Through an OTP confirmation , the transaction could able to complete.

Providing Loan Facilities

Term Loans, Overdrafts, Cash Credit, Guarantees and many more such products are included in the credit basket.

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  • Location
  • Head office is located
  • at Kohinoor close near
  • to Calicut University
  • Contact
  • 0494 2402839
  • 9072191948/49
  • Thenhipalam Co-op Rural Bank LTD Kohinoor . All Rights Reserved
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