Om Birla Highlights the Importance of Cooperation in Solving Common Problems; 9% Dividend and 16% Incentive Announced for 8,256 Members
Kota: The Annual General Meeting and felicitation ceremony of Shri Hitkari Vidyalaya Cooperative Education Committee Ltd., Kota, was held on Sunday at Maheshwari Bhawan on Jhalawar Road. Lok Sabha Speaker Om Birla attended the programme as the chief guest, while Rajasthan Red Cross State Chairman and Kota Nagrik Cooperative Bank Chairman Rajesh Krishna Birla presided over the event.
During the ceremony, 69 senior members aged above 70 years were honoured with garlands, shawls and certificates of appreciation. The annual report and income-expenditure statement were passed by a voice vote.
Addressing the gathering, Om Birla appreciated the committee's contribution to the field of cooperation and education. He said the institution was established by its founder president, Shambhu Dayal Saxena, with the aim of connecting the working class with the light of education. What began as a small initiative has now grown into a strong institution that has brought positive changes to many lives.
He said the basic objective of cooperation is to solve problems collectively. Collective efforts strengthen organisations and contribute to nation-building. He encouraged members to make cooperation a part of their lives and stand together during difficult times.
Members' Trust Helps Committee Achieve Rs 700 Crore Turnover
Rajesh Krishna Birla said the committee has always stood by its members by providing loans and other facilities whenever required. Its primary objective is to protect members from financial exploitation by moneylenders and provide them with financial support.
He explained that the committee provides loans against gold jewellery at affordable interest rates. The gold loan process takes approximately five minutes, and the interest rate was stated to be 80 paise per hundred.
Recalling the institution's journey, he said that before March 1991, the committee was under an administrator. He took charge in 1991 and served as its president for six years, after which Suraj Birla assumed the responsibility.
The committee, which had around 2,000 members in 1991, now has 8,256 members. Rajesh Krishna Birla credited the institution's growth to the trust and cooperation of its members. He also said the committee has become a major source of financial support for the working class.
According to the financial details shared at the meeting, the committee has fixed deposits of Rs 149.81 crore belonging to members and has provided loans worth Rs 58.74 crore. Its various funds amount to Rs 9.41 crore, while members' share capital stands at Rs 3.36 crore. The committee has investments of Rs 140 crore in different banks, working capital of Rs 249 crore and a turnover of Rs 700 crore. It earned a profit of more than Rs 44.54 lakh during the previous financial year.
Members to Receive 25% in Dividend and Incentives
Kota South MLA Sandeep Sharma said the committee distributes a 9% dividend and a 16% incentive to its members, taking the total benefit to 25%. He described this as a significant initiative in the cooperative sector.
Ladpura MLA Kalpana Devi highlighted the importance of girls' education and said educated girls play an important role in the progress of both families and society. She also appreciated the committee's contribution to education through the operation of a B.Ed. college.
Consumer Wholesale Bhandar Chairman Harikrishna Birla praised the committee's functioning and said it was progressing continuously under the leadership of Rajesh Krishna Birla and Suraj Birla.
Mayor Anusuiya Goswami and Deputy Mayor Vivek Rajvanshi said it was commendable for cooperative institutions to remain financially strong while working for public welfare. They noted that the institution, established before Independence, has been providing financial assistance to people for many years.
BJP District President Rakesh Jain said the committee had earned a respectable position in society by providing loans at low interest rates to people in need. He also stressed the need to increase women's participation in the cooperative sector.
Institution Rated 'A' Category for 28 Consecutive Years
Committee President Suraj Birla presented the annual report, including details of income and expenditure, confirmation of the proceedings of the previous general meeting, financial approvals and the audit report. The members approved the report by a voice vote.
He said the committee is a self-governing institution in Rajasthan that operates a women's B.Ed. college in the cooperative sector. The institution has consistently been classified in the 'A' category for the past 28 years.
The committee provides loans to members against gold jewellery, National Savings Certificates (NSCs), Kisan Vikas Patras, LIC policies and residential property. Loans for house construction are available at an interest rate of 10%. Deposits for a one-year period earn 7% interest, while senior citizens receive an additional 0.50%, taking the total interest rate to 7.5%.
Dignitaries Present
The programme was attended by MLA Sandeep Sharma, MLA Kalpana Devi, Harikrishna Birla, Mayor Anusuiya Goswami, Deputy Mayor Vivek Rajvanshi, BJP District President Rakesh Jain, Additional Registrar Beena Bairwa, Cooperative Department Officer Ritu Sapra, Dr Meenu Birla, Vimal Jain Nanta and Kota Mahila Nagrik Cooperative Bank Chairperson Manju Birla, among others.
Committee Vice-President Usha Nyati, Treasurer Dayakrishna Birla, directors Gokul Das Mohta, Nisha Maheshwari, Sanjay Birla, Rachna Dandotia and Rahul Birla, General Manager Sandeep Saxena, Branch Manager Hemendra Jain, Principal Madhu Bhardwaj, Cooperative Bank Vice-President Hemraj Singh Hada, Mahesh Chand Ajmera, Rajendra Sharda, Suresh Kabra, Prem Bhatia and Red Cross State Secretary Jagdish Jindal were also present, along with office-bearers and members of various cooperative institutions.
The programme was conducted by committee secretary Chandramohan Sharma.
