Karnataka’s Vijayapura based Siddhasiri Souharda Cooperative Society has achieved a major milestone by securing approval from the Central Registrar of Cooperative Societies (CRCS) to become a Multi-State Multi-Purpose Cooperative Society.
Led by senior state leader Basanagouda Patil Yatnal, the society is now set to expand its operations into Maharashtra.
With this approval, Siddhasiri Cooperative Society is poised to widen its service network beyond Karnataka and strengthen its presence in neighbouring states.
According to available details, the society has a deposit base of over Rs 4,500 crore, operates 211 branches across Karnataka, and has recorded a profit of Rs 26 crore.
It is noteworthy that for many years, the institution functioned under the Souharda Act as Siddhasiri Souharda Cooperative Society. It has now been formally recognised as a Multi-State Multi-Purpose Cooperative Society, further solidifying its expansion plans and operational capabilities.
Efforts to contact the Chairman and Managing Director of the society to obtain their reaction, and to understand the reason behind becoming a multi-state society, have so far been unsuccessful.
