Soubhagya Mahila Souharda Sahakari Bank Niyamith is the dream come true of late smt. L.H.Doodihalli the founder who put all the interest and efforts to make this happen and made it come true but left us all on 16/4/1997. Smt.L.H.Doodihalli dream was into reality with the greatest interest of the founders, the encouragement of the board of directors, shareholders, the cooperation of the depositors and full support of the customers.

With the view of the large shareholdings credit facility for the medium and small businessmen and women in priority sectors, The Reserve Bank of India issued license to the bank on 28^th November 1998. Thus it came under the Karnataka Souharda Cooperative Societies Act and Reserve Bank of India laws.

Bank History

As we have successfully completed 27 years of operations. Here is a brief of all the small steps we walked to achieve this milestone.

The bank was inaugurated by shri Siddeshwara Swamiji on 2/10/1998 at APMC Road Gadag 582101.

Late in those days collecting funds was the biggest challenge. The founder managed to gather support from public by collecting just Rs. 100 from each member. The organisation started with 15 directors and members and Mrs. Veena Anand Potnis as the chairman.

Working History

As Per Reserve Bank of India, to meet the requirements of the bank’s customers, salary loan, cash credit loan, overdraft loan, loan on NSC, vehicle loan, loan on immovable property security, loan for construction, gold loan etc. has been provided to encourage thousands of families by providing lower rate of interest on these loans to not burden the customers. The best of our bank is more interest is given to the depositors of the bank in comparison to other banks which makes us stand unique in this sector.

Current Status

 Today bank holds 4386 members. As on 31/03/2024 the working capital of the bank was 33 crores 86 lakhs, the net profit being 56.67 lakhs. Very interesting rate of interest have been set for the banks customers as below 11% on vehicle, 10% on gold, 13% for construction advantage of this was taken by the customers.

The bank services are not only limited for banking sector but also expanded our role in other sectors of society by donating to social concerns to mass programs, educational institutions to sports sectors and religious organizations. In case of accidental death of a bank member the successor of the member shall be provided with Pradhan Mantri Jeevan Jyoti Bhima Yojana and Pradhan Mantri Suraksha Yojana of Rs.2 lakhs as per the terms agreed upon with the Life Insurance company and oriental insurance respectively.

In this new era of globalization and digitalization all the operations of the bank are made online with good intention of serving customers in short notices as guided by the directors.

In the year 1997 all the bank staff were trained as we became the first Souharda cooperative bank to be computerized in Gadag. E-stamping system has been implemented in the main branch and convenience is been provided to the people of that area. For greater customer convenience core banking, NEFT/RTGS service and SMS alert service is implemented, including the Head office, Mulagund Road Branch, we are also working towards providing internet banking and ATM facility very soon.

The present chairman smt. Veena Potnis who is always dedicated working towards the progress of the bank, She is been supported by vice president smt. Sushma R. Hulkoti and board of directors smt. Janaki S Mallapur, smt. Nanda B. Hulkoti, smt. Vidya R. Habib, smt. Shashikala Baradwad, smt. Meenakshi benkannavar, smt. Meenaxi G. Malladad, smt. Reshma K. Nagarkatti, smt. Reshma P. Besarigidad, smt. Vijaya D. Deshpande, smt. Rama P. Adavi, smt. Kallavva H Kaller, smt. Neelamma C. Bolannavar are always appreciated.