An anti-thesis to farmers’ woes

Nearing 60, Gattududdenapalli co-op society has emerged a model

It is a common country-wide phenomenon where banks, both nationalised and private, are known for their delaying tactics while sanctioning loans. But here is a cooperative bank in Gattududenapalli village in Manakondur mandal where any loan, including marriage loans, are sanctioned to farmers within a few minutes.

Established on March 31, 1959, Gattududenapalli Cooperative Credit Society with 275 members and a paid up share capital of ₹17,000 has now grown into a total membership of 1,926, including 1,864 borrowing members and a paid up share capital of ₹ 97.85 lakh covering Gattududenapalli, Polampalli and Mallapur villages.

Inspired by the Mulkanoor cooperative movement launched in Bheemadevarapalli, villagers A.V. Ramana Rao, D. Venkatram Reddy, A. Rajeshwar Rao, K. Malla Reddy and A. Lingaiah founded the cooperative society. Now, it has grown into a large-sized cooperative credit society and is making strides in the cooperative movement in Telangana.

It has also emerged as the first cooperative society in the State to computerise all its transactions resulting in efficiency and reliability. Its annual turnover has crossed ₹40 crore and deposits worth ₹10.77 crore, and all types of loans to the tune of ₹ 20 crore.

The society is extending financial assistance for agricultural operations, purchase of agricultural equipment such as tractors, two-wheelers apart from educational loans and gold loans too. “Our farmer should not make debts outside the village. That is our motto,” says chairman Bodige Kondaiah.

He added that the society has entered the services sector of selling its brand of Gattududenapalli BPT rice in the region by setting up its own rice mills. Every year, the society is selling 10,000 quintals of BPT rice and also supplies PDS rice after milling, to the government. The society has 18 godowns with 7,600 MT capacity for farmers to store their food grains. Besides, it procures farmers’ produce by setting up procurement centre and also sells fertilizers and pesticides.

It is also famous for its Gattududenapalli branded paddy seed of all varieties with annual sales of 40,000 quintals of seed. The petrol filling station established by the society makes a profit of ₹40 lakh per annum in the village. This society bank also has locker facilities with 50 lockers. Very soon, a kalyana mandapam operated by the society will come up in the village.