Daijiworld Media Network – Udupi (TP)
Udupi, Sep 16: The annual general body of Badagubettu Credit Cooperative Society, Udupi for the year 2023-24 was held at Ajjarkad Town Hall on September 15.
Rajesh V Sherigar, the general manager of the Society, presented the annual report and financial statements. According to the report, at the end of the fiscal year, the society had a total of 18,309 members, with a share capital of Rs 4.77 crore and deposits of Rs 509.55 crore. The Society had an outstanding loan balance of Rs 402.12 crore. During the year 2023-24, the Society conducted a business turnover of approximately Rs 2.500 crore and reported a net profit of Rs 15.23 crore. A dividend of 15 percent was announced for the members.
Jayakar Shetty Indrali, the president of the Badagabettu Credit Cooperative Society, highlighted the advancements in digitalization, particularly the Chethana mobile application. He emphasized that the application was developed with robust security measures to provide safe mobile banking facilities and urged members to take advantage of this free service.
Jayakar Shetty Indrali further emphasized the Society's commitment to social welfare by engaging in various socio-economic programs. He mentioned that the Society annually invests around Rs 25 lac in educational, health, cultural, and social activities aimed at building a better society.
The Society also provides non-banking services such as safe lockers, e-stamping, PAN card issuance, NEFT, RTGS, Western Union money transfers, Lombard Health Card, Manipal Health Card, various insurance facilities, miscall services, pigmy collection through mobile app, and free SMS.
As part of its social initiative, the Society honored and recognized 24 municipal workers from the city.
Naveen K, branch manager, Malpe, mastered the ceremony. Praveen Kumar, assistant general manager, delivered the vote of thanks.
The AGM also saw the participation of vice-president George Samuel, Board members Sanjeev Kanchan, L Umanath, Purushottam P Shetty, Haji Syyed Abdul Razak, Vinay Kumar T A, Padmanabh K Nayak, Sadashiv Nayak, Manohar S Shetty, Sadhu Salian, Jaya Shetty, and Gayathri S Bhatt.