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Udupi : The profit is necessary for survival and growth of the co-operative societies, said Vittal Sherigar Deputy Director, cooperative Societies Auditing Department, Udupi.

He was addressing after the inauguration of workshop on losses in Sauhardha Cooperatives training programme held at Veerabhadra Kala Bhavan, Kinnimulky near here on Saturday, 4^th February, 2017. He said the co-operative is strong enough to serve the rural clientele and profit is the major indicator of efficiency and competitiveness of the operations of the organization. Therefire, profit is not a dirty word and every business organization including cooperative must ensure decent profit to serve the members and public better.

He said that with the liberalization of Indian economy and financial sector reforms, there is lot of competition in the cooperative industry. The business of cooperative has more and more become complex and profits are hard to come. Profits in Co-operative are not an accident but the result of a careful planning and strategy. The viability of Co-operatives cannot be ensured without profit and so viability is gaining importance. In the liberalized environment, it is realized that unless and institution is viable and stands on its own feet, it won’t to serve the market for a long. Adopting appropriate development plans and strategies, the Co-operative could become sustainable.

Earlier Shivkumar Biradhara Divisional Officer, Karnataka State Sauhardha Federal Co-operatives Ltd., Bangaluru spoke keynote address about the need to train on losses cooperative societies and welcomed the gatherings.

The programme began with the invocation. Vittal Sherigar and guests on the dais inaugurated the programme with lighting the lamp.

Smt. M. J. Chandra Prathima Joint Official of Co-operatives, Kundapura, B. V. Ravindranath Auditor, Sagar, Shivmuga, Bhaskar Kamath Director, Karnataka State Sauhardha Federal Cooperative Society Ltd. Bangaluru were present on the dais.

Rajesh K. M. Sauhardha Development officer, KSSFCSL proposed vote of thanks.