Udupi: Badagabettu Credit Co-operative Society, Udupi, has been conferred the Best Co-operative Mitra Award at the Annual General Meeting of Udupi Co-operative Town Bank Ltd.
The award was received by Society President Mr. Jayakar Shetty Indrali and General Manager Mr. Rajesh V. Sherigar on behalf of the Society.
Udupi: Badagabettu Credit Co-operative Society has received the Sadhana Award 2024-25 for the 19th consecutive year, recognizing its all-round growth in the undivided Dakshina Kannada district. The award was presented at the Annual General Meeting of the SCDCC Bank Ltd held on August 30.
DK District Central Co-operative Bank President Dr. M.N. Rajendra Kumar felicitated Society President Jayakar Shetty Indrali and General Manager Rajesh V. Sherigar with the award.
Society Vice-President George Samuel, Director Umanath L., and Assistant General Manager Praveen Kumar were also present on the occasion.
At the 72nd All India Cooperative Week State-Level Program, Badagabettu Cooperative Society has achieved a remarkable milestone by receiving the prestigious “Sahakara Manikya” Award.
As part of this honor, the society has been awarded a cash prize of ₹10,000 and a gold medal weighing 5 grams.
This award has been conferred in recognition of the society’s service in the cooperative sector, efficient management, and outstanding achievements. With this honor, Badagabettu Cooperative Society becomes the first credit cooperative society in Udupi district to receive the Sahakara Manikya Award.
The award was received by the society’s President Shri Jayakar Shetty Indrali and the Chief Executive Officer Shri Rajesh V. Sherigar in the presence of distinguished guests.
On this occasion, dignitaries present on stage included:
The Badagabettu Credit Co-operative Society Ltd., Udupi, held its Annual General Meeting (AGM) for the year 2024-25 on Sunday at Smt. Ammanni Ramanna Shetty Hall, Udupi, under the chairmanship of Mr. Jayakar Shetty Indrali, President of the Society.
Presenting the Annual Report and Accounts, General Manager Mr. Rajesh V. Sherigar announced that the Society closed the financial year with:
The Society posted a net profit of ₹15.47 crore for the year and declared a 15% dividend for its members.
As part of its community service initiatives, the Society honored 13 civic workers serving near its head office and felicitated Ms. Deeksha V. of Arooru, Brahmavar, who entered the Golden Book of World Records by performing continuous Bharatanatyam for 216 hours.
Recognized for its excellence, the Society recently received the “Sadhana Award” at the Annual General Meeting of the SCDCC Bank Ltd, Mangaluru, for its all-round progress in 2024-25. This marks the 19th consecutive year that the Society has won a district-level award, adding to its record of 2 national awards and 9 state awards.
Highlighting its digital initiatives, the Society introduced the “Chetana Mobile App”, offering secure mobile banking services. In addition, daily deposit collections are now enabled through the Pigmy Mobile App. Officials noted that the Society continues to invest in modernization while allocating nearly ₹25 lakh annually for education, healthcare, cultural, and social activities.
The Society also provides a wide range of services, including safe deposit lockers, e-stamping, PAN card facilities, Aadhaar & e-KYC services, Western Union money transfer, health cards, insurance services, missed-call banking, and free SMS alerts.
The meeting was attended by Vice President Mr. George Samuel, Directors Mr. Sanjeev Kanchan, Mr. L. Umanath, Mr. Purushotham P. Shetty, Mr. Haji Sayed Abdul Razak, Mr. Vinay Kumar T.A., Mr. Padmanabha K. Nayak, Mr. Sadashiva Nayak, Mr. Sadhu Salyan, and Ms. Jaya Shetty. The felicitation program was compered by Mr. Naveen K., Manager of the Malpe Branch, and the vote of thanks was delivered by Assistant General Manager Mr. Praveen Kumar.
Badagabettu Credit Co-operative Society Ltd. celebrated International Yoga Day at the Ajjarkad Town (Mini) Hall with great enthusiasm.
The event was inaugurated by the Society’s President, Sri Jayakar Shetty Indrali. Ms. Suneetha Nayak from Art of Living, Manipal, conducted a yoga training session, emphasizing the benefits of regular yoga practice. Ms. Bharati P. Hegde, a staff member of the Society, presented a yoga demonstration.
Board members, Branch Advisory Committee members, Branch Managers, staff, and daily deposit collectors actively participated in the yoga session.
The Society’s General Manager, Mr. Rajesh V. Sherigar, delivered the welcome address. Mr. Naveen K., Branch Manager of the Malpe Branch, compered the event, and Assistant General Manager, Mr. Praveen Kumar, proposed the vote of thanks.
A program titled “Hasiru Nannuru – Bailuru” was organized on the occasion of World Environment Day at the Bailuru Temple Hall, in collaboration with Bailuru Environment Enthusiasts, Badagabettu Credit Co-operative Society Ltd., Udupi, Udupi District Co-operative Union Ltd, Department of Co-operation, Udupi District, Karnataka State Co-operative Federation, Bengaluru, Kala Kiran Club, Bailuru, Department of Animal Husbandry and Veterinary Services, Udupi, Shri Mahishamardini Temple, Bailuru
Shri Jayakar Shetty Indrali, President of the Badagabettu Co-operative Society, inaugurated the program and spoke in detail about how to keep the environment clean and how each individual can contribute to a better environment. He also appealed to parents to educate their children about environmental awareness from an early stage at home.
The chief guest and resource person, Shri Srinivas Rao, Retired Deputy Secretary of Udupi Zilla Panchayat, explained how cleanliness programs can be organized at the household level and emphasized the responsibilities of citizens in protecting the environment.
Another guest, Tonse Satish Rao, Director of SVC Bank, was present on the dais and delivered a message.
Other dignitaries present on the stage included: Shri Narayana Das Udupa, Secretary of Shri Mahishamardini Temple, Bailuru, Shri Kalathur Ramesh Shetty, Moktesar (temple administrator), Shri Rajesh Sherigar, General Manager of Badagabettu Co-operative Society, Mrs. Anusha Kotian, CEO of Udupi District Co-operative Union.
Over 250 students participated in the drawing competition, and prizes were distributed to the winners on stage.
Shri Praveen Kumar, Assistant General Manager of Badagabettu Society, welcomed the guests and hosted the program. Shri Durgaprasad proposed the vote of thanks.
The program was held at the Bharat Scouts and Guides Dr. V.S. Acharya District Training Centre, Pragati Nagar, Manipal.
Sri B. Jayakar Shetty Indrali, President of Badagabettu Credit Co-operative Society Ltd., Udupi, President of Udupi District Cooperative Union, and Director of the Karnataka State Cooperative Federation, presided over the function.
Chief Guests included:Dr. Kiran Acharya, Head, Department of Orthopedics, KMC Manipal, Janardhan Kodavoor, Scout Commissioner, Bharat Scouts and Guides, Udupi District, Sri Arun Kumar Shetty, President, Udupi Industrial Co-operative Society Ltd., Sri Narayana Ballal, President, Kodavoor Agricultural Service Cooperative Society Ltd., Sri Y. Sudhir Kumar, President, Padubidri Vyavasayika Society Ltd., Padubidri, Sri Ashok Shetty Mairmadi, President, Udupi T.A.P.C.M.S. Ltd., Sri Yatheesh Kumar, President, Alevoor Gram Panchayat, Sri Mohan Upadhyaya, President, Canara Credit Co-operative Society Ltd., Sri Suresh Shetty, President, Guru Nithyananda Credit Co-operative Society Ltd., Udupi, Sri Harish Kini, Director, Udupi District Cooperative Union Ltd., Board Members of Badagabettu Credit Co-operative Society, and Sri Rajesh V. Sherigar, General Manager, Badagabettu Credit Co-operative Society Ltd.
Also present at the event was Mrs. Anusha Kotian, Chief Executive Officer of Udupi District Cooperative Union Ltd., Udupi.
Trainer Rajendra Bhat K. encouraged students to treat their talent as capital and build self-confidence. He shared the inspirational stories of: Saalumarada Thimmakka, who planted and nurtured over 1,300 trees, Harekala Hajabba, who built a school by selling oranges, Palak Muchhal, who helped fund heart surgeries for 1,300 children through her musical talent.
Society President B. Jayakar Shetty Indrali delivered the welcome and introductory remarks. The event was anchored by Naveen K., Manager of the Malpe branch, and the vote of thanks was delivered by Rajesh V. Sherigar, General Manager of the Society.
A special one-day training workshop was recently organized by the Badagabettu Credit Co-operative Society for its staff members at the Hotel Diana conference hall in Udupi. The training was conducted by Mr. Sreesha K.M. from Mastermind Enterprises, a renowned training organization based in Mangalore.
The event was inaugurated by the Society’s President, Mr. Jayakar Shetty Indrali, who emphasized that “Customers are our God.” He stated that such training sessions are essential to adapt to modern changes, manage stress effectively, and provide cheerful and high-quality service to customers while enhancing skills.
During the program, staff members from various branches who achieved the targets set for the financial year 2024–25 were recognized and honored. The event was graced by the Society’s Vice President Mr. George Samuel, Directors Mr. Purushotham P. Shetty and Mr. Sadashiva Naik, and Mr. V.K. Hebbar from Mastermind Enterprises.
The General Manager, Mr. Rajesh V. Sherigar, welcomed the gathering, while Assistant General Manager, Mr. Praveen Kumar, hosted the program. Mr. Naveen K., Branch Manager of Malpe branch, delivered the vote of thanks.
Udupi’s Prestigious Badagabettu Credit Co-operative Society Records ₹2,935 Crore Annual Transactions in 2024–25, Earns ₹19.37 Crore Profit
Jayakar Shetty Indrali, President of the esteemed cooperative institution of the state—Badagabettu Credit Co-operative Society, Udupi—announced at a press conference that the society recorded an annual transaction of ₹2,935 crore in the financial year 2024–25, earning a profit of ₹19.37 crore.
The society, which has been rendering meaningful service in the cooperative sector for 107 years, had a share capital of ₹4.83 crore from 21,519 members at the end of the 2024–25 fiscal year.
By the end of the reporting year, the society had collected ₹573 crore in deposits, marking a 12.45% increase over the previous year. Loans were disbursed to members for house construction, vehicle purchases, land acquisition and development, commercial complex and residential apartment construction, self-employment, education, marriage, gold mortgage, and home repairs, based on appropriate documentation. The outstanding loan amount stood at ₹477 crore, reflecting an 18.62% increase from the previous year.
The society possesses reserves of ₹95.18 crore, investments of ₹229.73 crore, and working capital of ₹673.20 crore. Operating across 11 branches, 8 of these are located on the society’s own premises. A 12th branch is set to open soon in the heart of Kundapura, where the society has already purchased its own office space.
The society has received numerous accolades, including 2 national awards, 9 state-level awards, and 18 undivided Dakshina Kannada district-level awards, establishing itself as a successful credit society. Not merely profit-driven, it also undertakes social welfare programs, spending around ₹20 lakhs annually on education, health, and community initiatives.
As a step toward digitization, the society developed the “Chetana Mobile App”, enabling customers to transfer funds via IMPS/NEFT/RTGS, transfer funds to RD and loan accounts, and access information about new schemes. The app, available on Google Play Store and Apple App Store, has received a positive response from users. Customers are encouraged to visit their nearest branch for more information
In line with modernization, daily deposit collections are now also done through a mobile app (Pigmy Mobile App). All branches offer services like safe locker facilities, e-stamping, PAN card services, money transfer, Lombard and Manipal health cards, health and general insurance, “zero balance” student accounts, missed call service, and free SMS alerts. For more updates, customers can visit www.badagabettusociety.com.
For the upcoming financial year, the society has set a goal of achieving ₹800 crore in deposits and ₹700 crore in outstanding loans, totaling ₹1,500 crore in business. It is also planning to construct a “Sahakara Soudha” at an estimated cost of ₹10 crore on a 1-acre property purchased in the heart of Udupi.
Branch advisory committees have been established at every branch, and each committee will work on implementing new schemes under the guidance of their members
Present at the press conference were Vice President George Samuel, Board Members Sanjeeva Kanchan, Purushotham P. Shetty, Umanath L., Vinay Kumar T.A., Padmanabha Nayak, Syed Abdul Razak, Sadashiva Nayak, Manohar S. Shetty, Sadhu Salyan, Jaya Shetty, Gayatri S. Bhat, General Manager Rajesh V. Sherigar, and Assistant General Manager Praveen Kumar.
