About NMD Society
Know who we are, what we stand for, and how we've been serving our
Thrift & Credit Society Ltd.
Who We Are
Building Financial Futures, One Member at a Time
New Maa Ditya Co-Operative (Urban) Thrift & Credit Society Ltd., popularly known as NMD Society, is a registered Co-operative Thrift & Credit Society established with the noble purpose of uplifting the social and economic conditions of ordinary people.
The Society is registered as an Urban Co-operative under the relevant Co-operative Societies Act, governed and supervised by the Registrar of Cooperative Societies. NMD Society strictly abides by the applicable Co-operative Society Act, Rules, and Bye-laws, conducting its operations exclusively among its members.
The primary objective of the Society is to promote the habit of saving among members and provide them with affordable credit. The Society’s financial products include Fixed Deposits, Recurring Deposits, Saving Accounts, Monthly Income Schemes, and a range of loan products.
NMD Society uses member funds exclusively for loans to members and for investments as permitted under the Co-operative Society Act, Rules, and Bye-laws — ensuring complete transparency and member trust.
The guiding, registering, and supervising authority of the Society is the Registrar of Co-operative Societies (RCS), ensuring full regulatory compliance and member protection at all times.
From its humble beginnings, NMD Society has grown into a trusted financial institution, serving families, working individuals, women, and small entrepreneurs who seek a safe, high-yielding alternative to conventional banking.
Our Purpose
Vision & Mission
Our Vision
To become a leading and trusted co-operative financial institution that consistently serves the masses with innovative, member-centric schemes and plans. We envision a future where every member experiences the true benefit of co-operative banking — secure savings, affordable credit, and shared prosperity.
We are committed to technological advancement, so that banking with NMD Society becomes a uniquely satisfying and effortless experience for one and all. As the co-operative movement expands, NMD Society is all set to realise its goals of bringing innovative schemes to serve customers better and make their financial journey highly rewarding.
Our Mission
To establish and become a pioneer in the co-operative movement by maintaining the highest quality standards, offering customer-centric and service-driven financial products that cater to the aspirations and needs of every member — today and in the future.
We believe that financial empowerment is a right, not a privilege. Our mission is to make savings rewarding, credit accessible, and financial growth possible for every family — regardless of their income level or background.
आज की बचत कल का भविष्य
“Today’s Savings, Tomorrow’s Future”
Leadership
Board of Management
The dedicated team of elected members driving the success, integrity, and growth of NMD Society.
Amit Kr. Jha
President
Sweta
Vice President
Rajeev Kr. Jha
General Secretary
Lal Babu Jha
Joint Secretary
Sanjay Jha
Treasurer
Rinku Jha
M.C. Member
Padmesh Jha
M.C. Member
What We Promise to Every Member
Safety of Your Savings
Every rupee deposited with NMD Society is accounted for, managed carefully, and invested as per co-operative guidelines — ensuring complete safety.
Full Transparency
We maintain open books and regular audits. Members can always request information about Society finances. Transparency is non-negotiable for us.
Competitive Returns
We consistently offer deposit interest rates better than traditional banks, ensuring your savings grow faster with NMD Society.
Inclusive Financial Access
NMD Society is open to all — homemakers, daily wage earners, small business owners, salaried professionals — everyone deserves financial security.
Salient Features of NMD Society
We are more than just a savings institution — we are a community of members growing together with shared values and benefits.
Registered Co-Operative Society
Legally registered under the Co-operative Societies Act, fully supervised by the Registrar of Co-operative Societies for member safety.
Interest Rates Higher than Banks
Our deposit schemes offer interest rates significantly higher than conventional banks, maximising your returns on every rupee saved.
Member-First Philosophy
Every policy, product, and decision at NMD Society is driven by the best interests of our members. Members are our stakeholders and priority.
Fully Computerised Operations
We maintain complete digitised records and fully computerised accounts to ensure accuracy, accountability, and transparency in all transactions.
Safe & Transparent
All operations are conducted with full transparency under cooperative bye-laws. Your money is always accounted for and protected.
No TDS on Deposit Interest
Interest earned on deposits with NMD Society is not subject to TDS deduction, ensuring you receive the full benefit of your returns.
Quick Loan Processing
Our loan procedures are simple and efficient. Members receive timely credit support without excessive documentation or long waiting periods.
Community Empowerment
NMD Society actively empowers women, families, and small entrepreneurs by giving them a safe financial platform to save and grow.
Governed by Bye-Laws
All norms, rules, and operational procedures of the Society are clearly defined under the Bye-laws of NMD Society, ensuring structured governance.
Our Future Plans
NMD Society is not just growing — we are transforming. Here is what we are working towards for our members and communities.
Expand Branch Network
Open new branches across the region to bring NMD Society's services closer to more members and communities.
Multi-State Presence
Convert into a Multi-State Credit Co-operative Society and extend our reach to Uttar Pradesh, Bihar, Rajasthan, Madhya Pradesh, and Haryana.
Mobile App for Members
Launch a dedicated mobile application so members can manage their accounts, deposits, and loan details conveniently from their smartphones.
ATM Facility for Members
Introduce ATM access for members so they can withdraw savings and manage funds easily — anytime, anywhere.
New Innovative Schemes
Launch new savings and credit products tailored specifically to women, farmers, youth, and small business owners.
Financial Literacy Initiatives
Conduct financial literacy workshops and member education programs to help communities make smarter financial decisions.
