Karnataka based Multi State Cooperative Society Tumkur Merchants Credit Cooperative (TMCC) has contributed a cheque of Rs 21.26 lakh towards the Cooperative Education Fund maintained by NCUI on the occasion of the apex body’s Annual General Meeting in New Delhi.
The Society Chairman Jayakumar handed over the cheque to NCUI President Chandra Pal Singh Yadav.
In the last fiscal, the society had contributed a sum of Rs Rs 17.58 lakh towards the Co-op Education Fund. Since the past ten years the society has regularly been contributing towards the co-op education fund.
Readers would know, as per the Cooperative Act a multi-state cooperative society shall out of its net profits in any year credit 1 per cent to the cooperative education fund maintained by the National Cooperative Union of India. IFFCO has been the highest contributor to the Fund so far.
The multi-state Tumkur Merchants Credit Cooperative (TMCC) has crossed a business mix of more than Rs 15k cr.
The society maintains the NPA at zero level and it has announced 15 percent dividend for its shareholders.
The society registered as Souharda Credit Cooperative on 23rd March 2006, commenced its operations on 30 April 2006. One of the novel services offered by TMCC is Cash Pickup and Cash Withdrawal at the doorsteps of its customers.