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Mulukanoor Co-operative Society

 

The Mulukanoor Co-operative Society (full name: Mulukanoor Co-operative Rural Bank and Marketing Society Ltd) was founded in 1956 to improve the living conditions of its members, small local farmers in one of the 14 villages surrounding Mulkanoor.

 

The society has a broad set of tasks. It runs a small local bank that provides saving and lending services. It helps to improve the yield and quality of farming products through soil testing, pest attack, introduction of new agricultural practices, initiatives in animal husbandry and crop seminars. The society also collectively buys agricultural tools and machines which are too expensive for individual farmers to buy. The society buys up the production of the farmers and markets it through its own channels. It runs shops to ensure its members have access to life’s necessities at fair prices. Finally, the society organizes welfare services such as various insurances and financial assistance and merit scholarships for children of members. While the co-operative is there to ensure the prosperity of its members, the organization stresses that the members should not look upon it as a welfare organization.

 

To become a member, one must be a farmer who has his own land and live in one of the 14 villages. Presently, there are over 6,000 members. Together, they form the General Body which has ultimate authority in the society. They elect the 15-person Board of Directors who run the society on a day-to-day basis.

 

Every member is encouraged to save his money in the co-operative bank, so the co-operative has a wide and strong financial base. The society has a share capital of 22 million rupees (about 430,000 US dollars).

 

 
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Properties

Type of initiative Company, Bank, Other (specify): co-operative with broad tasks, including banking services, retail and agriculture
Field of work Agriculture, Trade, Financial services
Date of commencement 1956
Founder(s) Sri A.K. Vishwanatha Reddy Gaaru
Legal form Limited company
Continent Asia
Country India
City Mulkanoor
One or several keywords that describe your initiative co-operative, co-operative bank, fair pricing
Publications
More information
 

Contact person(s)

M. Laxma Reddy, General Manager

 

Contact information

Name Mulukanoor Coop Rural Bank and Marketing Society
Address Bheemadevarapally Mandal,
Zip/postal code Karimnagar Distr
Place Mulkanoor Village
State/province Andhra Pradesh
Country India
Phone +91 8727 248222
E-mail
Website http://mcrbms.com/

 

 

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