Grand centenary celebrations of The Graduates Co-operative Bank at J.K. Grounds

Mysore/Mysuru:  Cooperation Minister K.N. Rajanna announced that steps will be taken to strengthen the cooperative credit system in rural areas in order to boost the rural economy.

He made these remarks during the Centenary celebrations of The Graduates Co-operative Bank in the city, held at MMC&RI Platinum Jubilee Hall in J.K. Grounds this morning. The programme was on when we went to the press.

Underlining the importance of establishing VSSN (Vyavasaya Seva Sahakara Sangha) Banks in all Gram Panchayats by the end of the year, Rajanna stated that the Government is fully committed to bolstering cooperative banks. He commended   the remarkable growth of the Graduates Co-operative Bank, which was founded by Subbarao in 1923.

Over the years, the bank has witnessed tremendous progress, attracting an increasing number of graduates as members. Originally established to empower graduates, the bank has adapted its operations and embraced technology-driven services to meet the changing needs of the times.

Rajanna praised the bank for its successful century-long service to customers, acknowledging the challenges posed by competition and advancements in the banking sector.

Regarding MLC A.H. Vishwanath’s suggestion to introduce reservation in the cooperative sector similar to local bodies, Rajanna acknowledged the difficulty of implementing it due to the predominantly private nature of cooperative institutions. However, he assured that the suggestion would be carefully considered in due course.

District Minister Dr. H.C. Mahadevappa, MLA T.S. Srivatsa, MLCs Marithibbegowda, Dr. D. Thimmaiah and A.H. Vishwanath, along with Mayor Shivakumar, Bank President N. Srinivas, former MUDA Chairman H.V. Rajeev and other dignitaries were present.