Kundapura: At a time when many commercial banks in the undivided Dakshina Kannada district have merged and lost their individual identity, co-operative institutions have emerged as the leading force in providing essential services to the people, said Dr. M.N. Rajendra Kumar, President of Dakshina Kannada District Central Co-operative Bank and Karnataka State Co-operative Apex Federation.
He was speaking after inaugurating the fully air-conditioned 12th branch of Badagabettu Credit Co-operative Society, Udupi, located at Shri Nandikeshwara Towers near Parijatha Hotel on the main road in Kundapura.
He stated that the co-operative sector holds a special place in Dakshina Kannada and Udupi districts and has been growing alongside the economic progress of the people.
Efforts of Jayakar Shetty and Team Appreciated
Dr. Rajendra Kumar said that while starting an institution may be easy, successfully running it profitably is a major challenge. The growth of a co-operative institution greatly depends on the people-friendly approach of its staff. He praised Badagabettu Society, which has over a century of history, for its remarkable growth and public trust over the past 35 years under the leadership of President Jayakar Shetty Indrali and his team.
A Model for Co-operative Growth
MP Kota Srinivas Poojary said that Badagabettu Society stands as an excellent example of how a co-operative institution can be developed and managed successfully. He appreciated the efforts of Jayakar Shetty in strengthening the institution and taking it to greater heights.
Focus on People-Centric Services
MLA A. Kiran Kumar Kodgi stated that co-operative institutions today are growing parallel to commercial banks and are becoming increasingly accessible to rural and middle-class communities.
Former MP K. Jayaprakash Hegde observed that while co-operative institutions earlier had limited operational scope, they have now expanded widely. He suggested that co-operative societies should introduce more attractive public-oriented services, including unsecured educational loans. He also stated that a reduction in loan interest rates through government-level discussions would greatly benefit farmers and youth.
Society Registers ₹18.13 Crore Profit
Presiding over the function, President of Badagabettu Credit Co-operative Society Jayakar Shetty Indrali said that the 107-year-old institution has overcome many challenges and has been functioning profitably for the past three decades while maintaining the trust of its customers.
He informed that the society currently has 23,000 members, with deposits worth ₹662 crore, outstanding loans of ₹528 crore, reserves of ₹113.24 crore, investments of ₹284.07 crore, and working capital of ₹795 crore. During the financial year 2025-26, the society recorded an annual turnover of ₹4062.29 crore and earned a profit of ₹18.13 crore. He credited the success to the guidance of the Board of Directors and the support of the staff.
On the occasion, Dr. M.N. Rajendra Kumar was felicitated. Passbooks and deposit certificates were distributed to the first customers of the new branch. Engineer Muralidhara Shetty was honoured, while building owners G. Suresh and G. Uday were also recognized.
Udupi MLA Yashpal Suvarna, SCDCC Bank Director Mahesh Hegde Molahalli, District Co-operative Deputy Registrar Lavanya K.R., Assistant Registrar of Kundapura Subdivision Sudheer Kumar J., Society Vice President George Samuel, General Manager Rajesh V. Sherigar, and other directors were present.
District Co-operative Union Director Sridhar P.S. compered the programme, while Branch Manager Samarth Shetty delivered the vote of thanks.