Pics: Nithin Pereira
Daijiworld Media Network – Udupi (NP)
Udupi, Sep 13: The annual general body meeting of the Badagubettu Credit Cooperative Society, Udupi, for the financial year 2025-26 was held at Ajjarkad Town Hall here on September 13.
Presenting the annual report and financial statements, general manager Rajesh V Sherigar said that “The society had 22,869 members, with a share capital of Rs 4.89 crore and deposits of Rs 658.80 crore at the end of the financial year. The society had an outstanding loan portfolio of Rs 533.96 crore and recorded an annual business turnover of around Rs 4,089 crore. The society achieved a net profit of Rs 15.09 crore during the year with the cooperation of its members, following which a 15% dividend was declared”.
Rajesh V Sherigar further said that “The society had received two national-level awards and nine state-level awards. For its overall performance and development during 2025-26, the society received the ‘Sadhana Award’ at the annual general meeting of the Dakshina Kannada District Central Cooperative Bank. This marked the society’s 20th consecutive district-level award. The society also received the ‘Sahakara Manikya’ award at the state-level programme of the 72nd All India Cooperative Week, along with a cash prize and a five-gram gold medal. It is the first credit cooperative society from Udupi district to receive the award”.
Former minister Pramod Madhwaraj said, “If there is a model and ideal example of how a cooperative society should be run, it is the Badagubettu Cooperative Society. Here, the management remains stable, and we hardly know when elections are held. The reason for this is that the staff and members know that the society has a proper administration. When a company makes profits, many people try to get into it, but when a company suffers losses, many people leave. However, I have never seen such a systematic cooperative society as Badagubettu. This is the reason the society has gained the confidence of the people and continues to make profits.”
Udupi MLA Yashpal Suvarna said, “Badagubettu has gained the confidence of the people, which is the reason it has established 12 offices and has been making profits every year. Today, people are facing difficulties with nationalised banks, particularly due to language-related issues. This is one of the reasons people are placing their trust in cooperative societies. I congratulate Jayakar Shetty Indrali and his team for leading the society and helping it grow. I am not saying this as a minister, but as a customer of this bank. I wish the society and its team all the best.”
Jayakar Shetty Indrali, Badagubettu Credit Cooperative Society expressed his gratitude to the members and spoke about the society’s expenditure, new initiatives and other financial matters. He highlighted the profits and dividends of the society and sought ideas and suggestions from the members. He also spoke about the society’s digital initiatives and the assistance it has provided to the community. He expressed gratitude to all those who have placed their trust in the society.
Five achievers from different fields were felicitated during the meeting. They included international-level child fashion achiever Sachita Rao; Spoorthi D Shetty, the first young woman from Udupi to represent the district at the national platform of the Miss Universe India competition; Vidushi Sangeetha Balachandra, who entered the Golden Book of World Records after presenting more than 200 Dasara Padagalu continuously for 25 hours; Suguna Pai T, who has become self-reliant by preparing and selling food products; and Annie Lisa Ammanna, who has achieved at the district, state, university and South India levels in powerlifting and bench press.
Govindas K Suvarna, who retired after serving as a daily deposit collector at the society’s Malpe branch for around 11 years, was also given a farewell. Astro Mohan, senior photojournalist was honored at the event.
As part of its digitalisation initiatives, the society has developed the ‘Chetana Mobile App’ with necessary security measures to provide safe mobile banking services to its members. Members were urged to make use of the facility. Daily deposit collection is also being carried out through the Piggy mobile app.
The society is not limited to banking activities and gives priority to social welfare initiatives, spending around Rs 30 lac annually on education, healthcare, cultural and social programmes. Facilities including QR code services, free missed-call banking, free SMS services, safe lockers, e-stamping, PAN card services, Western Union money transfer, Lombard Health Card, Manipal Health Card and various insurance facilities are also being provided to members.
Former minister Pramod Madhwaraj; Yashpal Suvarana, Udupi MLA; Manohar Shetty, chairman Sai Radha Group. Board members Sanjeeva Kanchan, L Umanath, Purushothama P Shetty, Haji Syed Abdul Razak, Vinay Kumar T A, Padmanabha K Nayak, Sadashiva Nayak, Manohar S Shetty, Sadhu Salyan, Jaya Shetty and Gayathri S Bhat were present.
Assistant general manager Praveen Kumar proposed the vote of thanks, Malpe branch manager Naveen K compered the programme.