While “cooperative” is a social phenomenon, “banking” is a commercial and business proposition. Keeping in view these two conflicting dimensions of cooperative banking, there is an argument in favour of evaluating cooperatives on non-financial parameters alongside the financial parameters. Can there be a system of social audit which world assess the performance in terms of social, environmental and community goals of the organisation?
Rest assured that the BSP is committed to continue to pursue reforms to allow digital innovations to flourish as long as prudent standards are in place, and to ensure a level playing field for all stakeholders concerned – be it the businesses, consumers, or the general public.