One of Belgaum’s leading multi-state credit cooperative societies, Dr. Prabhakar Kore Multi-State Credit Cooperative Society, is set to expand its footprint into Western Maharashtra. The society is targeting a business mix of over Rs 3,500 crore by the end of the current financial year.
The cooperative operates from a sprawling head office in Ankali village, Chikodi taluka, in Belgaum district of Karnataka. Under the visionary leadership of Dr. Prabhakar Kore, a veteran cooperator, and the dynamic stewardship of Amit Kore and Preeti Dodwad, the society has emerged as a key player in the region’s rural financial ecosystem.
An Indian Cooperative correspondent visited the society’s head office last week to understand its operations and its contribution to rural financial inclusion. Speaking to the Indian Cooperative, the society’s Managing Director D.S. Karoshi said, “We are primarily focused on rural areas and are catering to the financial needs of farmers. Currently, our business mix stands at around Rs 2,500 crore, and we are aiming to surpass Rs 3,500 crore by the end of this financial year.”
Karoshi added, “We were granted multi-state status in 2023. At present, we have a network of 55 branches across Karnataka. We’ve applied to open branches in Western Maharashtra, and our application has been pending with the Central Registrar of Cooperative Societies for the past two years.”
Explaining the society’s prudent lending approach, he said, “We do not disburse any unsecured loans. All our loans are fully secured. We believe secured loans are more easily recoverable, and we carry out proper due diligence before sanctioning loans. As a result, our NPA level remains well-controlled.”
The society is also embracing digital initiatives. “We are in the process of launching a mobile application, and the software is currently under development. We expect it to go live in a couple of months,” Karoshi informed.
As per the financials, the society recorded a business mix of Rs 2,500 crore and a net profit of Rs 25.30 crore as of 31st March 2025. In terms of assets, it owns eight buildings valued at Rs 25 crore and plans to establish dedicated premises for all its branches in the near future.
Beyond traditional credit services, the society offers a range of value-added facilities to its members, including safe deposit lockers, mobile recharges, PAN card issuance, passport assistance, e-stamping, land record (RTC) services, and bus, train, and flight ticket bookings. It also supports RTGS and NEFT transactions.
With strong leadership, a focus on secured lending, and a commitment to rural empowerment, Dr. Prabhakar Kore Multi-State Credit Cooperative Society continues to set benchmarks in cooperative banking.
