Hyderabad: The Cyberabad police credit society AGM took place on Wednesday at the Commissionerate auditorium under the chairmanship of Cyberabad Police Commissioner Dr M. Ramesh, who also heads the society.
The meeting marked the third general body session of the Cyberabad Police Cooperative Credit Society Limited. Secretary and SB ADCP S. Ravikumar delivered the welcome address and traced the society’s growth. He said the society began in 1951 in Hyderabad Rural district with Rs 10 and later expanded steadily to reach a turnover of Rs 100 crore.
Vice-president and Administrative DCP T. Annapurna detailed the society’s performance for the previous financial year. She said the society extended loans worth Rs 43,09,25,000 to 681 members at 8.5 per cent interest. In addition, the society provided Rs 1 lakh each to the families of six deceased members to meet funeral expenses.
She said the society awarded scholarships worth Rs 9.65 lakh to 105 children of 93 members. It also waived loans totalling Rs 9,87,864 linked to four deceased members. Therefore, she said these steps reflected a continued focus on member welfare.
Cyberabad police credit society AGM reviews loans, welfare and dividend
Addressing the gathering, Dr M. Ramesh said the department prioritised the welfare of police personnel and their families. He praised the society’s functioning and noted that it maintained strong transparency standards. Moreover, he said its decisions on savings and financial security continued to benefit members.
Regarding income tax notices, he said the society would consult financial experts. Subsequently, he added that the department would take steps to resolve the issue through due process.
Treasurer G. Mallesh announced a dividend of 13 per cent for the financial year and placed the resolutions before members. Meanwhile, T. Ramadevi from the Cooperative Department attended the meeting and expressed satisfaction with the society’s performance.
Senior officers, including DCP Quthbullapur N. Koti Reddy, DCP Kukatpally Rithiraj, DCP Crimes Muthyam Reddy, SOT DCP Shobhan Kumar, Women and Child Safety Wing DCP Srujana Karanam, CAR Headquarters DCP Sanjeev and Traffic DCP-1 Ranjan Ratan Kumar, attended the session.
The Cyberabad police credit society AGM ended with members approving resolutions and reviewing financial and welfare measures.