Sri Durgaparameshwari Credit Co-operative Society Ltd

In 2000, like-minded members of the Rajapur Saraswat community in Udupi taluk came together with the aim of establishing a co-operative society in our area so that our people could receive financial support, social development, and simple, accessible banking services. On consulting the Co-operative Department, we were informed that registration would be possible with 300 members and ₹3 lakh in share capital.

  • 2004: Branch opened at Bantakal

  • 2008: Branch opened at Hiriyadka

  • 2010: Head Office and Parkala branch moved into our own building

  • 2012: Manipal branch opened in our own building

  • 2015: Branch opened at Brahmavara

  • 2018: Bantakal branch moved to its own premises

  • 2020: Udupi branch opened, steadily extending services to cover the entire Udupi district

Acting swiftly, within just one month we brought together 365 members and ₹3,67,000 in share capital. The Society was registered on 25-05-2001 under the name “Sri Durgaparameshwari Credit Co-operative Society, Parkala.” After the first meeting, among the leading figures of the community’s organizations, the founder directors elected Shri M. Balakrishna Nayak (Bannanje) as the Founding President.

On 27-06-2001, the Society was inaugurated by Shri K. K. Pai at a 150 sq. ft. shop room in Parkala, Manipal. We began operations with ₹5 lakh in deposits on the very first day, and by the second year the institution had turned profitable

Leadership:

2006–2011: Shri Shivaraya Nayak, Parkala — President

2011–2021 (two terms): Shri B. Ramakrishna Nayak, Parkala — President

2021–present: Shri Ashok Kamath, Kodange — President, leading the institution forward