Daijiworld Media Network — Udupi (HB)
Pics: Umesh Marpalli
Udupi, Jul 7: The first branch of Micro Souharda Credit Co-operative Society, Udupi, was inaugurated by Rajya Sabha member Oscar Fernandes on Monday July 6, near Court Road, Udupi.
Addressing the gathering, Fernandes said, “A new trend begins with the launch of this credit co-operative society in the city. It is a good opportunity to build a financial relationship with society. I assure that the bank will provide good services to their clients, especially needy people. Nearly 35 percent of all Indian women save for their future.”
Sri Laxmivaratheertha Swami, Shiroor Math, blessed the Society co-ordinators, and said, “Nowadays credit co-operatives are increasing day by day. This is an indication of good development in Udupi city.”
Fr Roque D’souza, Udyavar Church, blessed the new branch.
K Rajaram Shetty, president, K Narayan Shetty, director, Ignatious Vincent D’souza vice president, Bailur Ramesh Rao, D Shridhara Shenav, managing director, Bharat Canning Company Ltd Kaup, A Anand Shetty, retired DGM (Vijay Bank), Hangalur, Kundapur, and others were present on the occasion.
The Society provides services such as daily deposit, fixed deposit, loans on jewellery, motor vehicle loans, security credits, loan against land, loan on national savings certificates, 0.5 percent of interest on deposit and so on. There is a special interest rate of 8 percent offered on senior citizens’ deposits for more than six months up to one year. Deposits for more than a year will yield 10 percent interest.
K Rajaram Shetty welcomed the gathering while Devraj Moorthy compered the programme.