Special Correspondent

  • Nagaraj Shetty will inaugurate the celebrations
  • Board has plans to convert the society into a bank
  • MANGALORE: The South Kanara Cooperative Workers' Society is celebrating its Platinum Jubilee (75 years).

    Announcing a series of programmes to commemorate the event, honorary president of the society M.N. Rajendra Kumar, who is also the chairman of the State Apex Bank), said the celebrations would begin on Tuesday (May 1) being Workers' Day.

    Share capital

    Mr. Kumar said that the society had a share capital of Rs. 19.15 lakh and Rs. 266.68 lakh as deposits.

    The society had 1,266 members and for 2006-07, the society earned a profit of Rs. 6.49 lakh, he said. The society had disbursed Rs. 259.92 lakh as loans to its members, he said.


    To celebrate the Platinum Jubilee in a meaningful manner, the Managing Board had planned to collect Rs. 10 crore as deposit and convert the society into a town cooperative bank.

    The Managing Board had plans to open branches in all taluks of Udupi and Dakshina Kannada districts, Mr. Kumar said.


    Other Platinum Jubilee programmes, included building its own premises in Mangalore, launching a membership campaign in Udupi and Dakshina Kannada and extend scholarships to children of the members and employees, Mr. Kumar said.

    To mark the inauguration of the celebrations, MLA Abhayachandra Jain would release a souvenir, Mr. Kumar said.

    District in-charge Minister B. Nagaraj Shetty would inaugurate the celebrations, he added.