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Co-op to extend banking hour

Our Bureau

MANGALORE: Sri Lakshmananda Multipurpose Co-operative Society Ltd here is planning to introduce extended hour banking to its customers, according to the President of the society, Mr J. Krishna Palemar.

Addressing newspersons on Thursday, he said the society was planning to introduce this service at its third branch in Kavoor. The Karnataka Bank Chairman, Mr K. Ananthakrishna, will inaugurate the Kavoor branch on September 28, he said.

The society, with 2,000 members, has Rs 18 lakh share capital and Rs 3 crore working capital, Mr Palemar said. During 2002-03, the society advanced Rs 2.8 crore and earned Rs 7.5 lakh profit. It has decided to distribute 18 per cent dividend to its members, he added.

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