Karnataka-based Shri Beereshwar Cooperative Credit Society, the largest multi-state credit cooperative society in Southern India, has achieved a remarkable milestone with a business mix nearing Rs 7,000 crore.
The society was established by Annasaheb Jolle, an ex-MP and a prominent cooperative leader, along with co-founder Shashikala A. Jolle, MLA.
Speaking to Indian Cooperative, the society’s CEO, Bahaddur A. Gurav, shared, “As of October 31, 2024, our deposits stand at Rs 3,890 crore, and advances amount to Rs 3,018 crore, taking our total business mix to nearly Rs 7,000 crore.”
Operating across Karnataka, Maharashtra, and Goa, the society has built an extensive network of 219 branches, serving 3.91 lakh shareholders with reserves of approximately Rs 196 crore.
In the fiscal year 2023-24, the society reported a commendable net profit of Rs 40.55 crore. It has also launched various initiatives in agriculture, education, retail, and youth and women empowerment, firmly establishing itself as a diversified and impactful institution.
“Our society goes beyond traditional banking services. We act as a corporate agent for mutual funds, insurance, PAN card issuance, DEMAT accounts, and transportation bookings. Additionally, we provide health insurance, e-stamps, and mini ATM services,” Gurav elaborated.
In 2023, the Central Registrar approved 98 new branches, and within a year, 57 branches were successfully established across Karnataka, Maharashtra, and Goa. Shri Beereshwar Cooperative has also embraced technological advancements, integrating a core banking system across branches and establishing two data centers to enhance operational efficiency and drive digital transformation.
The society’s Loan-Pro application ensures transparent and swift loan approvals. For farmers, it facilitates mortgage registration via the FRUITS App, integrated with Kaveri and Bhoomi platforms, enabling hassle-free loans with minimal charges.
Employee welfare remains a priority, with benefits including Provident Fund, Gratuity, insurance schemes, bonuses, HRA, ESI, maternity assistance, and pension plans.
The society’s commitment to excellence has earned it ISO 9001-2015 certification and accolades like the Best Audit Initiative Award (2023) and the Best IT Head Award (2024) from Banking Frontier and NAFCUB.
On January 22, 2024, the society inaugurated its state-of-the-art administrative office at Shree Beereshwar Institute, alongside the Shree Ram Murthy Pratishtapana in Ayodhya.
The new Shri Beereshwar Bhavan boasts seating for over 1,500 guests, a guest house, suites for wedding parties, ample parking, a modern dining hall, an advanced kitchen, and an LED-supported sound system.
Additionally, the society is constructing 2 BHK residential housing for 69 staff members and their families, further strengthening its commitment to community and employee welfare.
