Belief: Good ideas must be implemented, good intentions must be institutionalized.
Action: Shri Mukesh Modi has been at the forefront of the co-operative movement in Northern India. Right from leading the growth and formation of many co-operative institutions in North India to overseeing their growth trajectory and strengthening their operations with next in class technology, Mr. Modi has been a true institution builder.
Flagship role in co-operatives: Mr. Mukesh Modi, as Chairman has led the benchmark setting growth trajectory of Adarsh Bank and consolidated the bank’s position as a leader amongst co-operative banks in Northern India on critical financial and operational parameters.
Mr. Modi’s association with Adarsh Bank started 17 years ago as Chairman of the Bank and in 2000 he took upon the executive leadership of the bank with the position of Managing Director. Since then the Bank has achieved a growth rate of 107.9% which in itself is a benchmark of excellence amongst co-operative banks.
With his initiation in Finance gained with a Masters in Commerce specializing in Financial Management, Mr. Mukesh Modi has always been a visionary and institution builder. He has founded the Adarsh Credit Co-operative Society Limited and the Urban Co-operative Banks Federation. He has seeded and catalyzed the growth of the co-operative movement in Rajasthan through his facilitative role in the formation of co-operative societies all over the state.
Mr. Modi recognizes the fact that the rural economy of India has to take over the role of the economic growth engine of the nation if India’s economic growth has to be sustained with an inclusive character. With this broad vision of rural entrepreneurship as the Indian economy’s growth engine, Mr. Modi has provided a balance of strategic vision and operational excellence to Madhav and various other institutions he leads. His extreme focus on the quality of asset growth to match the growth in retail liabilities of Madhav has resulted in the achievement of benchmark standards of governance and financial excellence in the co-operative banking domain.
He has continuously stressed the centrality of Governance quality to the growth and sustenance of the Co-operative Movement. This has resulted in the aggressively conservative management of NPAs resulting in Benchmark performance. (See Financials) The bank has also achieved growth in reach, expanding its retail reach throughout Rajasthan and beyond. Amongst many firsts under his leadership, the Bank got the status of the first autonomous bank in Rajasthan state.
Prominent amongst the Leadership achievements of Mr. Mukesh Modi has been the development of the human resources of the bank, mentoring their development into an effective organization in a period when there is increasing competition for banking talent from the private sector. He is inspiring future leaders under his leadership, mentoring them with his experience.
His vision of rural entrepreneurship transcends industries. He has executed this comprehensive vision of value creating rural development and continues to do what he does best- institution building.
Belief: The co-operative institutions can remain sustainable and demand growth resources only if they operate at the same level of productivity and competitiveness as the private corporate sector.
Action: Shri Mukesh Modi has spun off corporate initiatives from strategic gaps and opportunities in the co-operative domain. While some of these corporate entities aim to create value in the corporate domain, some initiatives are aimed at tapping the knowledge pool available in the corporate sector for the benefit of the co-operative movement in India.
Corporate Leadership: Mr. Modi has understood and addressed the challenge of harnessing the knowledge pool available in the corporate domain for the growth of the co-operative movement. While the co-operative sector predominantly operates in the infrastructure starved rural India, it has to compete with the private sector for markets, capital and human resources. Mr. Mukesh Modi has addressed this in a unique manner by spinning off special purpose corporate entities which work on the cutting edge of technology and management ideas, standardizing these into value products which can be applied to both the corporate and co-operative sectors.
Belief: The trusteeship principle of governance and ownership will be the key to sustenance of the capitalist system. Capitalism lays disproportionately high resources at the disposal of the owners and managers of capital with the faith that they will use their better judgment to allocate those resources for general good and not treat the resources in entirety as their personal reward.
Action: Shri Mukesh Modi has, besides aiding the co-operative sector, undertaken various philanthropic initiatives to empower and aid the needy on the margins of society.
Philanthropic Initiatives:In his personal capacity and through the various institutions that he leads, Shri Mukesh Modi has led many Philanthropic initiatives.
- Chairman: Rajasthan Urban Co-operative Banks Federation.
- Chairman: Adarsh Co-operative Bank Limited
- Ex-Member- Reserve Bank of India Task Force
- National Vice-President: National Federation of Credit Cooperative Societies
- Regional President: Sahakar Bharti, Rajashtan State
- Ex-State General Secretary: International Human Rights Association
- Member Trustee: Adeshwar Gosewa Samiti, Sirohi
- Turstee: Shrimati Sushila Devi Prakashraj Modi Charitable Trust
- Founder: Rajasthan Urban Co-operative Banks Federation.
- Founder: Adarsh Credit Cooperative Society.