Mundgod 5 Sept: Mundgod Tibetan Co-operative Service Bank Ltd honored two staff who has completed 20 years service in their society during the 45th Annual General Body meeting held on 5th Sept 2012. Speaking on the occasion Chief Guest Mr. Tashi Wangdu, FTCI CEO said “Tibetan Cooperatives have huge responsibility to safeguard their shareholder’s money. Tibetan cooperatives have undergone several ups and downs in its history. However, Tibetan cooperatives have never failed at any instance in giving back the deposited money of their members when they came for withdrawal. In recent years, many Tibetans faced huge problems in getting back their deposit when some private entrepreneurs in Bylakuppe settlement had gone bankrupt”.
Following the presentation of annual report by Chairman, the Vice-Chairman of the society read out responses to questions raised during the last AGM and implementation of resolutions passed in previous AGM. Later the society CEO sought sanction for current year budget followed by lively questions and answers. During the occasion, cooperative also honored farmers who cultivated maximum number of acres.
For the benefits of 375 shareholders, Mundgod cooperative has succeeded in getting an agriculture loan of Rs. 14 Million from Karnataka Government at subsidized 0% interest rate and constructed 38 new shops that have been rented out to shareholders for their livelihood. They have also got Ration Card made by Indian Government to all Tibetans in Mundgod.