PKPS Records Net Profit OF 5.10 Lakh Recommends 50 Lakhs Loan Facility For Former
PKPS Records Net Profit of ₹5.10 Lakh; Recommends ₹50 Lakh Additional Loan Facility for Farmers
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Devadurga, Sept. 25: The 48th Annual General Meeting of the Primary Agricultural Credit Cooperative Society (Regular), Devadurga, was held at the society’s office on Wednesday. During the meeting, it was informed that the society had earned a net profit of ₹5,10,940.31 during the financial year 2025–26.
At the beginning of the meeting, with the consent of the members, Shivappa Balliddav was unanimously elected as the chairman of the meeting. Society Chief Executive Officer (CEO) Somashekar Madagiri welcomed the members and directors.
The CEO presented the annual report for 2025–26, income and expenditure details, business statement, profit and loss account, and balance sheet before the members. The society conducts various activities across Devadurga town and 24 surrounding villages. It recorded a net profit of ₹5,10,940.31 as of March 31, 2026.
Members including Shivraj Kodi, Shantamallayya Chandangirimath, former president Bhimareddy P. Patil, G. Basavaraj Nayak, former vice-president Hanumanti Somakar, director Tayanna Chittagar, directors Jairuddin Pasha Patwari, Malipatil Venkatesh Nayak, Somakar Shivakumar Akkaraki and Sidramareddy participated in the discussion.
Demand for Additional Loan Facility for Farmers
Members held a detailed discussion regarding the society’s profit and loss position and the loan facilities being provided to farmers. Considering the financial difficulties faced by farmers due to drought conditions, members urged the management to provide additional loan facilities.
Responding to the members, CEO Somashekar Madagiri said that a recommendation had already been made to the RDCC Bank to arrange an additional loan amount of ₹50 lakh for the benefit of farmers.
Members said that the cooperative society should stand by farmers during the present financial crisis and take necessary steps to provide easy access to loans required for agricultural activities.
Society president Abkari Rangappa Nayak, Tayappa Gosal, Basanagouda Police Patil, Sheikh Mahaboob, Mounesh Poojari, Sabbar Nannure and other society members and leaders were present at the meeting.
Decision on Loan Recovery Relief
The issue of recovery of outstanding loans from farmers was also discussed at the meeting. Considering the drought situation prevailing in the taluk, the members urged that farmers should not be subjected to forced recovery of loans.
The general body discussed and considered a resolution seeking relief in loan recovery, keeping in mind the financial difficulties faced by farmers.
Members reiterated that the cooperative society should support farmers during the drought and facilitate easy access to loans required for agricultural activities.
NEED 24 NEWS
Devadurga, Sept. 25: The 48th Annual General Meeting of the Primary Agricultural Credit Cooperative Society (Regular), Devadurga, was held at the society’s office on Wednesday. During the meeting, it was informed that the society had earned a net profit of ₹5,10,940.31 during the financial year 2025–26.
At the beginning of the meeting, with the consent of the members, Shivappa Balliddav was unanimously elected as the chairman of the meeting. Society Chief Executive Officer (CEO) Somashekar Madagiri welcomed the members and directors.
The CEO presented the annual report for 2025–26, income and expenditure details, business statement, profit and loss account, and balance sheet before the members. The society conducts various activities across Devadurga town and 24 surrounding villages. It recorded a net profit of ₹5,10,940.31 as of March 31, 2026.
Members including Shivraj Kodi, Shantamallayya Chandangirimath, former president Bhimareddy P. Patil, G. Basavaraj Nayak, former vice-president Hanumanti Somakar, director Tayanna Chittagar, directors Jairuddin Pasha Patwari, Malipatil Venkatesh Nayak, Somakar Shivakumar Akkaraki and Sidramareddy participated in the discussion.
Demand for Additional Loan Facility for Farmers
Members held a detailed discussion regarding the society’s profit and loss position and the loan facilities being provided to farmers. Considering the financial difficulties faced by farmers due to drought conditions, members urged the management to provide additional loan facilities.
Responding to the members, CEO Somashekar Madagiri said that a recommendation had already been made to the RDCC Bank to arrange an additional loan amount of ₹50 lakh for the benefit of farmers.
Members said that the cooperative society should stand by farmers during the present financial crisis and take necessary steps to provide easy access to loans required for agricultural activities.
Society president Abkari Rangappa Nayak, Tayappa Gosal, Basanagouda Police Patil, Sheikh Mahaboob, Mounesh Poojari, Sabbar Nannure and other society members and leaders were present at the meeting.
Decision on Loan Recovery Relief
The issue of recovery of outstanding loans from farmers was also discussed at the meeting. Considering the drought situation prevailing in the taluk, the members urged that farmers should not be subjected to forced recovery of loans.
The general body discussed and considered a resolution seeking relief in loan recovery, keeping in mind the financial difficulties faced by farmers.
Members reiterated that the cooperative society should support farmers during the drought and facilitate easy access to loans required for agricultural activities.