How it all began...
It is a story of two individuals who have just one goal – to do good to the society.
One is Sri. Sridhar Neelkant Rao and the other is Sri. Sanjeev K.Mahajan.
Sridhar is an engineer by qualification and has had a chequered career in the construction sector, while Sanjeev was in a safe job with Defence Accounts. Both quit their respective jobs as their calling was something different.
They joined hands with 13 other like-minded professionals (directors) and on
December 10, 2010 registered Gnanashale Souharda Co-operative Ltd., under the Souharda Co-operative Act, 1997. Gnanashale started in a 10’ X 10’ room in the basement of the present building on Sanjaynagar Main Road, on a monthly rent of
Rs. 5,000. It began with 1,000 shareholders and a share capital of Rs. 10 lakhs. From there, the Co-operative Society has not looked back, thanks to the selfless efforts of the founders and other directors.
December 10, 2010 registered Gnanashale Souharda Co-operative Ltd., under the Souharda Co-operative Act, 1997. Gnanashale started in a 10’ X 10’ room in the basement of the present building on Sanjaynagar Main Road, on a monthly rent of
Rs. 5,000. It began with 1,000 shareholders and a share capital of Rs. 10 lakhs. From there, the Co-operative Society has not looked back, thanks to the selfless efforts of the founders and other directors.
Sridhar Neelkant Rao
Shashi N
Encouraging growth
Gnanashale has grown phenomenally in these nine years with a present turnover of
Rs. 115 crores. Today, Gnanashale has eleven branches in Karnataka and continues to expand. After demonetization, our transactions are now 95% digitalized.
Rs. 115 crores. Today, Gnanashale has eleven branches in Karnataka and continues to expand. After demonetization, our transactions are now 95% digitalized.
Dividend growth
From 2% dividend in the first year, it now gives 16% dividend.
The goal is to touch the 25% dividend ceiling.
The goal is to touch the 25% dividend ceiling.
Milestones
* Our assets are Shareholder assets
*20% of our deposits goes to our investments as FDs in banks
Reserves
One of the highpoints of Gnanashale is its ‘RESERVES’. It has religiously maintained
20% of its deposits as ‘Reserves’ which is a healthy indicator of the performance of the Co-operative Society.
20% of its deposits as ‘Reserves’ which is a healthy indicator of the performance of the Co-operative Society.