Daijiworld Media Network – Udupi (TP)
Udupi, Apr 19: The Badagabettu Credit Cooperative Society, one of the state’s prestigious cooperative institutions, has recorded an annual turnover of Rs 4,062.29 crore and a net profit of Rs 18.13 crore for the financial year 2025 - 26, said Jayakar Shetty Indrali, president of Badagabettu Credit Cooperative Society.
Highlighting the society’s consistent growth over its 108 years of service in the cooperative sector, Jayakar Shetty informed that the total membership stood at 22,869 by the end of the financial year. The society mobilised deposits worth Rs 658.80 crore, registering a growth of 14.93% compared to the previous year, during the press conference held at Hotel Ocean Pearl, Kadiyali on April 19.
The society continues to extend loans to its members for a wide range of purposes including house construction, vehicle purchase, land acquisition and development, commercial and residential projects, self-employment, education, marriages, gold loans, and other domestic needs, subject to proper documentation.
As of March 2026, the total outstanding loans stood at Rs 533.96 crore, marking an 11.94% increase over the previous year. The society’s financial strength is further reflected in its reserves of Rs 117.60 crore and investments of Rs 268.30 crore, taking the total working capital to Rs 791.46 crore.
Currently operating through 11 branches, of which 8 function in owned buildings, the society is set to expand further. A new office for its 12th branch has been acquired in the heart of Kundapur, with construction nearing completion. The branch is expected to commence operations soon with all modern facilities.
The institution has earned wide recognition for its performance, having secured 2 national awards, 9 state-level awards, and 19 awards at the undivided Dakshina Kannada district level. Notably, it was conferred the prestigious “Sahakara Manikya” award at the 72nd All India Cooperative Week state-level programme, along with a cash prize and a 5-gram gold medal. This makes it the first credit cooperative society in Udupi district to receive this honour.
Emphasising its commitment to social responsibility, the society allocates around Rs 25 lac annually for education, healthcare, and other social initiatives.
In line with digital advancements, the society has launched the “Chetana Mobile App,” enabling customers to transfer funds, manage loan accounts, and access information on new schemes. The app, available on both Google Play Store and Apple App Store, has received a positive response from users.
All branches are equipped with modern banking facilities including safe lockers, e-stamping, PAN card services, money transfer, health cards, insurance services, mobile-based daily deposit collection, zero-balance Vidyanidhi accounts, missed call services, and free SMS alerts.
Looking ahead, the society has set a target of Rs 750 crore in deposits and Rs 650 crore in loan disbursement for the coming year, aiming for a total business volume of Rs 1,400 crore.
Additionally, plans are under way to construct a “Sahakara Soudha” building at an estimated cost of Rs 10 crore on a one-acre site already acquired in the heart of Udupi.
Branch-level advisory committees have also been constituted to oversee the implementation of new schemes and ensure effective governance.
Board members Purushottama P Shetty, Umanath L, Padmanabha Nayak, Haji Syed Abdul Razak, Sadashiva Nayak, Sadhu Salian, Jaya Shetty, Gayatri S Bhat, General Manager Rajesh V Sherigar, accountant Ashwin Kumar and assistant general manager Praveen Kumar were present at the press meet.