Cashing in on brand name

Staff Reporter

Mulkanoor Cooperative Rural Bank plans to expand its operations

The bank to market Mulkanoor brand fine quality rice to neighbouring StatesIts seed-processing unit has been producing 9,000 tonnes of paddy seed annually The bank has the distinction of not having any defaulters

KARIMNAGAR: The Mulkanoor Cooperative Rural Bank and Marketing Society Limited, which is celebrating its golden jubilee, is planning to market Mulkanoor brand fine quality rice to neighbouring Bangalore, Mysore, Chennai and Hyderabad cities soon.

The bank has been producing fine quality rice at its modern Satake (Japanese technology) rice mill since one and half years and distributing it within Karimnagar and neighbouring Warangal districts. With good demand for the product, the bank has decided to export it to other towns also.

Bank president A. Praveen Reddy told The Hindu that they would market the rice to other parts of the State and neighbouring States in a phased manner.

He said that the seed-processing unit was producing some 9,000 tones of paddy seed every year and distributing to farmers of the district and also to 10 other districts, including Kurnool, Anantapur etc.

Attributing the success of the bank in the cooperative movement to efforts of all members, he said that the bank gained distinction for 100 per cent repayment of loans.

Welfare measures

He said that they would procure farmers' produce from the doorstep of villagers. He said that they had godowns in all the 14 villages of Bheemederavapalli mandal to store some 32,000 tones of the produce. He said that the members would get 15 per cent dividend on their share capital and 9 per cent interest on their thrift deposit.

He also said that they had introduced several welfare measures for the benefit of members, including group insurance scheme in coordination with the LIC of India. Besides, they were also providing scholarships to children of the members.

He said that they would appeal to Chief Minister Y.S. Rajasekhara Reddy to provide irrigation sources to these upland villages. of the mandal by expediting the Devadula and SRSP flood flow canal projects during his visit to Mulkanoor village on March 19.