<p> Speaking to the mediapersons during the Society’s 15th annual general body meeting, he said the society has advances of Rs 13.44 crore and has recovered Rs 13.21 crore. <br />The total loans and advances at the year end stood at Rs 19.89 crore. <br /><br />The Society has earned a net profit of Rs 40.26 lakh during the current financial year as against the Rs 54.70 lakh for the previous year. </p>.<p>Slashing of interest <br /><br />The reduction in the profit was due to slashing the interest rates on loans and advances. The Board of Directors recommended a dividend of 12 per cent to its members for the year 2008-09 on the audited net profits of 40.26 lakh, he informed.<br /><br />The Society will start a Pre University College with PCMB and PCMS streams from the next academic year. <br /><br />This is the first Co-operative Society under the Co-operative Act to enter the educational scenario in the entire State, he said.<br /><br />Vice-President Suresh Shetty, Directors Shankar B, Vijendra Nayak, Nagesh Bangera, Ratna G, Dayanand Sherigar and others were present on the occasion.</p>
<p> Speaking to the mediapersons during the Society’s 15th annual general body meeting, he said the society has advances of Rs 13.44 crore and has recovered Rs 13.21 crore. <br />The total loans and advances at the year end stood at Rs 19.89 crore. <br /><br />The Society has earned a net profit of Rs 40.26 lakh during the current financial year as against the Rs 54.70 lakh for the previous year. </p>.<p>Slashing of interest <br /><br />The reduction in the profit was due to slashing the interest rates on loans and advances. The Board of Directors recommended a dividend of 12 per cent to its members for the year 2008-09 on the audited net profits of 40.26 lakh, he informed.<br /><br />The Society will start a Pre University College with PCMB and PCMS streams from the next academic year. <br /><br />This is the first Co-operative Society under the Co-operative Act to enter the educational scenario in the entire State, he said.<br /><br />Vice-President Suresh Shetty, Directors Shankar B, Vijendra Nayak, Nagesh Bangera, Ratna G, Dayanand Sherigar and others were present on the occasion.</p>
