CM inaugurates renovated 106-year-old Krishnarajendra Cooperative Bank building
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Mysuru: Chief Minister Siddaramaiah inaugurated renovated Sri Krishnarajendra Cooperative Bank Ltd building at Agrahara Circle in the city on Saturday.
Suttur Mutt seer Sri Shivarathri Deshikendra Swamiji, Krishnaraja MLA T S Srivatsa, Chamarajanagar MP Sunil Bose, Chairman of Karnataka State Guarantee Authority H M Revanna, Bank President D Basavaraju (Basappa), Directors N Basappa, H V Bhaskar, M N Naveen Kumar, M D Parthasarathy, Prathidhwani Prasad, Nagajyoti B and others were present.
History
The Bank which was established 106 years ago in 1919 by Shettappa Siddappa, a prominent merchant, was functioning in the first floor of the building. After renovation, the bank has been shifted to ground floor, with total computerised system, for the ease of member customers, majority of whom are senior citizens.
Bank President D Basavaraju (Basappa) said, the bank was started with initial capital of 25 paisa, which has touched a whopping Rs 14 crore per annum. The Bank has achieved ‘A’ grade and has annual turnover of Rs 95 crore from 9028 members. The working capital is Rs 78.25 crore, deposits Rs 65 crore, lending Rs 45.61 crore. In the present fiscal the bank has gained Rs 32 lakh profit.
– Team Mysoorunews
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