Mangaluru : South Canara District Central Cooperative (SCDCC) Bank president M.N. Rajendra Kumar inaugurated the Silver Jubilee building of Sri Lakshmananda Multipurpose Cooperative Society at Morgans Gate in the city on Sunday.

Speaking after the inauguration, Mr. Kumar said the society has created history in Mangaluru and wished it expanded the activities across the State. Nitte (Deemed to be University) Pro Chancellor Shantharama Shetty inaugurated the safe locker while Mayor Jayanand Anchan lit the lamp to formally inaugurate the public programme.

Bank founding president and former Minister Krishna J. Palemar said every member of the society wanted to have the own building and the occasion came when it was celebrating the Silver Jubilee of its formation.

Speaking on the occasion, Dr. Shantharam Shetty said the Society has served the Rama Kshatriya community exceptionally well. Its achievements of transacting over ₹400 crore business in the last financial year, extending loans to people from weaker sections of society including autorickshaw drivers, street vendors etc., was worth emulating, he said. As his individual contribution, Dr. Shetty gave a cheque of ₹5 lakh to the Society.

Mangaluru City South MLA D. Vedavyasa Kamath, former MLA J.R. Lobo, Karnataka Bank Managing Director and CEO M.S. Mahabaleshwara, Area Councillor P. Bhanumathi and others were present.