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Gonikoppal. Sep. 10: Banana Primary Agricultural Cooperative Society is doing well with a profit of 62 lakhs, and has decided to give 23% dividend to the current members of the association. The management board gave incentive prizes to the talented children of the members of the association. The association is also progressing in profit year after year. The cooperation of all the members is the main reason for this. The association's president, Chimmanamada S. Krishna Ganapathy, appealed to the members to contribute to the progress of the association by conducting daily business transactions in the association.
Speaking after presiding over the 63rd annual general meeting of the Banana Agricultural Cooperative Society organized in the Kodava community of Banana, S. Ganapathy said that the association has 1736 members from rural areas and has distributed good quality fertilizers to the members. The basic objective of the association is to protect the interests of the members of the association.
For the benefit of the members, a marriage loan has been sanctioned by the association and its benefits can be availed by the members. This will benefit the members of the family getting married. The president informed the meeting that a decision has been taken to repay the current loan within a year. At this time, some members of the association praised the management board for its good work. They also suggested that more time be allotted for the repayment of the loan.
It will be difficult to repay the loan within a year. Therefore, at least 3 years should be given. The meeting was presented with the issue. Agreeing to the members' words, the president said that a period of 3 years would be given to repay the marriage loan and that the details of the members who take the loan would be kept confidential and that there should be no fear in this.
The president proposed in the meeting to increase the membership of the members from one thousand to two thousand. Since the share capital of the members has been only one thousand for several years, the general assembly gave permission to increase it to 2 thousand. The members requested that necessary steps be taken to pay the dividend received by the members as soon as possible after the general assembly. In response to this, the President promised to deposit the dividend in the accounts of the members as soon as possible. The President informed that the branch that has already been started in Ponnappasante is working well.
The distribution of fertilizers to the members of the association and the financial activities of the association are being made available at the local level. It is commendable that the members of the association are getting full cooperation in this work. The dividend is being paid as the General Assembly has approved the payment of 23% dividend to the members in the current year as the association is progressing in profit. If the members of the association do more business, it will help in getting more profit. This will facilitate the association to make further progress.
In order to encourage the children of the members of the association, students who have scored the highest marks in SSLC and PUC are being recognized and given prizes from the current year. We are working in a way that is convenient for the farmers. Transparency is being maintained in the association. Due to this, the association has currently earned a profit of 61,89,751.75 lakhs. The management board is working hard to do more beneficial work for the farmers. The members of the association requested for cooperation.
There are 1763 members in the reporting year and the KCC loan is 100% recovered. The share capital is 209.53 lakhs, which is an increase of Rs. 25.82 lakhs in the reporting year. After obtaining the necessary documents from the members, we have distributed agricultural loans up to 5 lakhs at zero interest rate to the members. Interim loans up to 15 lakhs have been distributed at an interest rate of 3% and the remaining loans at a normal interest rate, he said.
He said that the members of the association should participate in the general meeting by doing minimum business in the association and protect their rights. K.A. Seethamma, the chief executive officer of the association, answered many questions asked by the members of the association.
In the meeting, the vice president of the association, Machangad R. Gayathri, director Adengad K. Chandrashekar, Podamada Jyoti Nachappa, Kandera M. Teja, Machangada M. Muthanna, Kallichanda B. Chitra, Addengada R. Geetha, T.K. Chandra. K.R. Gajanana, H.H. Ganesh, Lalitha, H.M. Basavaraju, DCC Bank Manager and other prominent persons were present on the stage.
Aramanamada Bose Mandanna, Adengada Nala, Puchchimada Subhash, Katimada Shareen Muthanna, Malchira Nanaiah, Dr. Subramani, Shivananjappa, Podamada Sukesh etc. gave advice on the development and future activities of the association. Chekkera Surya Ayyappa, Kadyamada Udaya, Aramanamada Suguna Ganapathi, Suresh Subbaiah and other prominent persons were present. Machangad R. Gayatri, Vice President of the Sangha, proposed the vote of thanks. A large number of Sangha members participated in the general meeting.
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