News Karnataka
Tuesday, February 27 2024

Sri Laxmanananda Co-Operative Society celebrates Silver Jubilee

Sri Laxmanananda CoOperative Society celebrates Silver Jubilee
Photo Credit : By Author

Mangaluru: Sri Laxmanananda Multipurpose Co-operative Society Ltd, which not only provides financial support through loans but also supports thousands who manage small businesses to earn their livelihood, is gearing up to celebrate its grand Silver Jubilee.

Sri Laxmanananda Multipurpose Co-operative Society Ltd was inaugurated on 07 Dec 1997 under the guidance and inspiration of J Krishna Palemar, former Minister, of Karnataka, to offer financial support to the needy.

The society was started in 1997 with a capital of Rs 3 lakh, 9 directors and 800 shareholders. Now the number of shareholders is more than 5500, the share capital is 2.8 crores and the annual business turnover is more than Rs 400 crores, through which it helps common people who need financial support in addition to providing other beneficial services to help people uplift the quality of their professional life. In the year 2022, the society has earned profits of more than Rs 1 Crore and offered a dividend of 20 per cent to shareholders, thus retaining the recognition as A Grade society, from the year of its existence.

Sri Laxmanananda CoOperative Society celebrates Silver Jubilee The Society supports street vendors, vegetable vendors, and auto drivers who need financial aid in the form of capital, to make them self-reliant. So far the society has offered support through loans to more than 2500 auto rickshaw drivers. In addition to loans, the Society offers guidance and follow-up to motivate them to professionally.

Free eye check-up camps, blood donation camps, support for the education of children of members and financial aid to other needy institutions are some of the social service projects through which society is served.

Today Sri Laxmanananda Multipurpose Co-operative Society Ltd is headquartered at Morgan’s Gate and has five branch offices at Morgan’s Gate, Hampankatta, Kavur, Katiplla-Kaikamba and Ullala. In commemoration of the legacy of 25 years of meaningful cooperative service, the Society has provided improved facilities in their newly built building at Jeppu, Morgans Gate near Rama Kshatriya Temple, at a cost of Rs 8 Crores.

Silver jubilee celebrations will be held on 02 April 2023, under the guidance of J Krishna Palemar, President of Co-operative Society and former Minister, Karnataka.

Nalin Kumar Kateel, MP, DK, D Vedavyasa Kamath, MLA, Mangaluru South, Jayananda Anchan, Mayor, MCC, Dr Shantaram Shetty, Pro-Chancellor, Nitte University, M N Rajendra Kumar, Chairman, SCDCC Bank, JR Lobo, former MLA, Mangalore South Assembly Constituency, H N Ramesh, Deputy Registrar of Co-operative Societies and Bhanumathi P. S., Corporator will be the chief guests of the program.

Management Board:

President: J Krishna Palemar Vice President: K Dinesh Rao

Directors: Ramachandra K S, G K Rao, P Babu, Dr. G. Ravindra, K. S. Ranjan, Smt. Varija K, Dr. H Prabhaka, Dr. Manjula A Rao, K Ravindra, K Jairaj and Chief Operating Officer Shivprasad P A.

Special offer of Silver Jubilee: Samriddhi Cash Certificate- 9 per cent interest for others and 9.5 per cent interest for senior citizens.

Service facilities provided by Sri Laxmanananda Multi-Purpose Co-operative Society Ltd:

  • Deposit Schemes
  • Savings Accounts
  • Loans (Interest and Offers)
  • Gold loan
  • Gold loan for 1 year
  • 6 months Express Jewel Loan
  • 3 months Super Express Jewel Loan
  • Business Loan -14 per cent
  • Housing mortgage loan- 14 per cent
  • Vehicle loans for new Auto rickshaws-11 per cent
  • Minimum Documentation with Faster Approval for Car Loan
  • Locker facility
  • Yashasvini Scheme
  • Vehicle Insurance
  • E-Stamp
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