Baalele Agricultural Credit Cooperative Society Records ₹64 Lakh Profit

Gonikoppalu, Sept. 17: Chimmanmada S. Krishna Ganapathi, President of the Baalele Primary Agricultural Credit Cooperative Society, announced that the society is performing well, having achieved a profit of ₹64 lakh. Addressing the society's general body meeting held at the Baalele Kodava Samaja hall, he urged members to support the society's growth by conducting their financial transactions within the society itself. The Board of Management has awarded incentive prizes to the talented children of the society's members. The society has been consistently increasing its profits year after year, a success largely attributed to the cooperation of all its members. He requested members to contribute to the society's progress by carrying out their daily financial dealings through the society.

The society has 1,771 members from rural areas. Member share capital stands at ₹242.80 lakh, with an increase of ₹33.27 lakh recorded during the reporting year. The Board of Management aims to steer the society toward achieving a profit of ₹1 crore in the coming year. He stated that, in accordance with government orders, the society has distributed interest-free agricultural loans of up to ₹5 lakh to eligible members. Last year, 2,253 tonnes of high-quality chemical fertilizers were distributed to members; great care was taken to ensure that no substandard fertilizer entered the society's warehouse. The primary objective of the society is to safeguard the interests of its members. In accordance with Central Government directives, the Balele PACS (Primary Agricultural Credit Society) in Ponnampet Taluk has been selected under the scheme to establish an FPO (Farmer Producer Organization). The Farmer Producer Centre operating at Ponnappasanthe has received a grant of ₹6.40 lakh from the Central Government. The society has initiated measures to extend various benefits and facilities to both farmers and consumers in the region through this FPO.

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