Compassionate Policy: Buldhana Urban Co-Op Society Returns Mortgaged Gold To Widow In MP Town

Sanawad (Madhya Pradesh): In a touching display of compassion and community support, the Buldhana Urban Co-operative Society, one of the country's leading cooperative societies, returned a mortgaged gold necklace to Sulochana Somaiya after the untimely death of her husband, Amarchand Somaiya.

Amarchand had pledged the necklace for Rs 20,000 at the Buldhana Urban branch in the Sanawad sector. Tragically, within 15 days of the transaction, he died in a motorcycle accident.

In line with Buldhana Urban's policy, the gold necklace was returned to Sulochana without any monetary demands. The act was facilitated by the local director Shyam Maheshwari, Shailendra Chokhra, and branch manager Preetesh Sen.

Buldhana Urban's policy states that if an account holder takes a fixed deposit investment (FDI) or a gold loan and subsequently dies accidentally, the deceased's heir is entitled to receive the deposit amount and, in the case of a gold loan, the mortgaged gold without any financial obligation.

This policy has provided significant relief to numerous account holders. Recently, the Barwah branch of Buldhana Urban returned gold worth Rs 19.50 lakh to the heirs of Jagdish Soni Pipaliya, a testament to the organization's commitment to supporting its members in times of distress.

The compassionate approach of Buldhana Urban Co-operative Society continues to benefit hundreds of account holders, fostering a sense of security and trust within the community.