Respected Members,

I am delighted to present the Financial reports and Progress of our institution for the year 2023-24. With the Central Government creating a separate Ministry of Cooperation and updating laws for multi-state cooperative societies in 2023, we are proud to continue our journey in a Lawful and progressive direction.

This year, our institution achieved deposits of Rs166 crore, showing the trust our members have in us, even in a competitive banking environment. We also disbursed loans worth Rs 119.79 crore. For overdue loans, we are using legal procedures along with the efforts of our staff. I kindly request defaulters to clear their dues at the earliest.

We remain committed to social service. This year, we organized a Community mass Marriage (Samajik Vivah Sohala) event to support families and benefitted 25 couples. So far, we have successfully helped 618 couples through this initiative. We are also running activities like Tree plantation drives, Blood donation camps, and Cataract surgery camps for senior citizens.

Through Bhairavnath Industries Group, we started an English-medium school for students in our area and are focused on providing quality education. The school has maintained a 100% success rate in exams.

To support business and income growth, we have opened Electricity bill payment centers at Wathar Station, Koregaon, and Rahimatpur, and encourage members to use these services. We are also working on facilities like Insurance premium centers, Gold purchase schemes, Agricultural processing services, and ATMs.

Our institution continues to grow with your support. For the financial year 2022-23, we have declared a 12% dividend for members. I thank all members, account holders, depositors, directors, staff, and well-wishers for their constant support in our progress and community initiatives. I hope for your continued trust and cooperation.

Yours sincerely,

Shri Balkrishna Shrirang Moholkar (Kasar)