Our Inception.
Sri Ramakrishna Credit Co-operative Society Ltd. was established in Mangalore on 07.05.1994. The establishment and growth of Sri Ramakrishna Credit Co-operative Society Ltd. has been a saga of farsighted vision, dedication, sacrifice, motivation, leadership and hard work on the party is Sri K.B Jayapal Shetty its founder President, who was the president from 1994 to 2015.
Present Chairman Mr. K. Jairaj B. Rai, taken charge on 01.04.2015. Mr. K. Jairaj B. Rai, started his career in Banking in 1971 and has over 45 years experience in Banking. He joined Sri Ramakrishna Credit Co-operative Society Ltd., in the year 2001. He was General Manager of SRCCS for 2001-2007, Advisor 2009-2010 and Director of Sri Ramakrishna Credit Co-operative Society. He ably assisted Mr. K.B. Jayapal Shetty during the period 2001-2015, he was instrumental for the steady growth and stability of SRCCS with his vision, dedication the Society will certainly grow from strength to strength.
Present Chairman Mr. K. Jairaj B. Rai, taken charge on 01.04.2015. Mr. K. Jairaj B. Rai, started his career in Banking in 1971 and has over 45 years experience in Banking. He joined Sri Ramakrishna Credit Co-operative Society Ltd., in the year 2001. He was General Manager of SRCCS for 2001-2007, Advisor 2009-2010 and Director of Sri Ramakrishna Credit Co-operative Society. He ably assisted Mr. K.B. Jayapal Shetty during the period 2001-2015, he was instrumental for the steady growth and stability of SRCCS with his vision, dedication the Society will certainly grow from strength to strength.
Our Growth
Since inception, the Society has made swift strides in all fields. There has been significant increase in membership from 944 in 1994-95 to 85,636 as on 31st March 2023. The Share Capital has increased from Rs.15 lakhs to Rs. 826 lakhs in the same period. The deposit resource of the Society has touched Rs.453 crores. The loans and advances of the Society as on 31st March 2023 is Rs.382 crores.
The impressive performance on the business front is reflected in the substantial jump in the profit earned, which improved from Rs.13,000/- in 1994-95 to Rs.9.86 Crores in 2022-23. The gross Non-Performing Assets of the institution as on 31.03.2022 was only Rs.31 Lakhs, which is 0.08% of the Gross advance, with Net NPA at 0%. The Society has made sufficient provisions for Non-performing assets. The society is giving excellent dividend to its members and in 2021-22, paid 25% Dividend. The Co-operative audit of the society is completed for year 2021-22 and the society has continued its “A” Class category since many years.
Considering the societies all-round development, the State Government has honoured the Society as ‘The best Credit Co-operative Society’ in the year 2007-08, 2010-11, 2015-16, 2019-20 and 2021-22. SCDCC Bank, Mangalore has recognised the society for its excellence and awarded as "THE BEST CREDIT CO-OPERATIVE SOCIETY" in the year 2008-09, 2009-10, 2011-12 ,2012-13, 2014-15, 2016-17, 2017-18, 2018-19, 2019-20, 2020-21 and 2021-22. In the 68th Co-operative Week celebration held at Mangalore on 15.11.2020 our Society has been adjudged as "Best Credit Co-operative Society" for the year 2020-21. Chairman Sri K. Jairaj B. Rai along with General Manager Sri Ganesh G.K. received the award from Hon. Minister of Co-operative, Govt. of Karnataka Sri S. T. Somashekhar.
The impressive performance on the business front is reflected in the substantial jump in the profit earned, which improved from Rs.13,000/- in 1994-95 to Rs.9.86 Crores in 2022-23. The gross Non-Performing Assets of the institution as on 31.03.2022 was only Rs.31 Lakhs, which is 0.08% of the Gross advance, with Net NPA at 0%. The Society has made sufficient provisions for Non-performing assets. The society is giving excellent dividend to its members and in 2021-22, paid 25% Dividend. The Co-operative audit of the society is completed for year 2021-22 and the society has continued its “A” Class category since many years.
Considering the societies all-round development, the State Government has honoured the Society as ‘The best Credit Co-operative Society’ in the year 2007-08, 2010-11, 2015-16, 2019-20 and 2021-22. SCDCC Bank, Mangalore has recognised the society for its excellence and awarded as "THE BEST CREDIT CO-OPERATIVE SOCIETY" in the year 2008-09, 2009-10, 2011-12 ,2012-13, 2014-15, 2016-17, 2017-18, 2018-19, 2019-20, 2020-21 and 2021-22. In the 68th Co-operative Week celebration held at Mangalore on 15.11.2020 our Society has been adjudged as "Best Credit Co-operative Society" for the year 2020-21. Chairman Sri K. Jairaj B. Rai along with General Manager Sri Ganesh G.K. received the award from Hon. Minister of Co-operative, Govt. of Karnataka Sri S. T. Somashekhar.
| Particulars | 31.03.2022 | 31.03.2023 | ||
| Share Capital | 7.96 | 8.26 | 0.3 | 4% |
| Deposit | 374 | 453 | 79 | 21% |
| Advance | 316 | 382 | 66 | 21% |
| Total Business | 690 | 835 | 145 | 21% |
| Net NPA | 0% | 0% | Nil | Nil |
| Profit | 9.04 | 9.83 | 0.79 | 9% |
When compared to March 2022 In March 2023
1) Share Capital has increased by Rs.30 Lakhs, 4% increase.
2) Deposits increased by Rs.79 Cr., 21% increase.
3) Advances increased by Rs.66 Cr., 21% increase.
4) Total business increased by Rs.145 Cr., 21% increase
5) Net NPA stood at 0%.
6) Profit increased by Rs. 79 Lakhs
Society has shown all-round progress in all its performance parameters.
By showing impressive growth in its performance parameters, Society's total business crossed Rs.835 Cr for 31st March 2023.
Our Management
The Society is having 16 well qualified, experienced directors who are giving valuable guidance for smooth functioning of day to day affairs of the Society. Mr. K. Jairaj B. Rai is the Chairman of the Society and Mrs. Laxmi Jayapala Shetty is the Vice-Chairperson, other directors of the society are Smt. A. Rathnakanthi Shetty, Sri K. Seetharama Rai Savanoor, Dr. K. Subhashchandra Shetty, Sri P. Shivarama Adyanthaya, CA H. R Shetty, Sri Vittala P. Shetty, Sri M. Ramaya Shetty, Sri Arun Kumar Shetty, Mr. P.B. Diwakar Rai, Sri Ravindranath G. Hegde, Sri K. Dayakar Alva, Sri Bellipady Prasad Koushal Shetty, Dr. Sudhakar Shetty, Sri A. Chikkappa Naik and Mr. Ganesh G.K. is the General Manager. For smooth functioning of branches and better administration at the branch level, 9 Branch advisory committee members, supported by 1 In-charge Director at each branch is formed. Similarly, different Sub-Committees of Board of directors like loan committee, staff sub-committee, General Administrative Committee, and overdue/ NPA recovery committees are formed at Head Office. The Board of directors are meeting once in every month to discuss the business affairs of the society and arriving at policy making decisions for smooth functioning of the society.