India’s first student-focused non-academic business incubator, Edventure park has incubated 157 student start-ups, out of which 30 have already been launched in the market and more than 10 have raised funding from institutional investors.
Founder and CEO Meraj Faheem told The Siasat Daily that the incubator has an army of campus leads who identify talented entrepreneurs with innovative ideas and provide them with the environment, support, and encouragement that they need.
“We have a four-month-long pre-incubation program where we work with idea-stage start-ups,” he added.
The students come up with ideas, the incubator assesses the ideas and after an application process, there’s a three-round interview process. This is followed by the selection of upto 25 start-up ideas that then go through a four-month-long pre-incubation program.
“On the basis of their progress, Edventure park selects 10 out of the 25 start-up ideas who are then taken to the incubation program, and then the acceleration program,” Meraj Faheem remarked.
source: http://www.siasat.com / The Siasat Daily / Home> News> Hyderabad / by Usama Hazari / June22nd, 2022
In a ceremony held at Taj Exotica, The Palm, Dubai, NRI entrepreneur Nasir Syed was honored with Business Icon award by NKN Media, celebrating the success stories of Indian business leaders in the UAE.
The event, boasting 16 icons from diverse industries, was graced by the presence of Dr. Shashi Tharoor, former Minister of State for External Affairs and acclaimed author, who handed over the award to Nasir Syed.
Nasir Syed, a prominent figure hailing from Moodbidri and the son of Syed Mohidin from Dakshina Kannada, has established himself as a renowned entrepreneur and international superbike rider in the UAE. He is the founder and CMD of Creative House Scaffolding.
The prestigious event was organized in collaboration with India Today Group, one of India’s leading media houses. The ceremony was broadcasted on India’s prominent news channels, Aaj Tak and India Today TV. The award aimed to celebrate visionary leaders and recognize their significant impact on the UAE’s business landscape and community.
Renowned actors and influencers, including Vivek Oberoi and Salman Yusuff Khan, shared exclusive video messages with their dedicated fan base, expressing their anticipation for the event.
In addition to these messages, India’s leading news anchor, Rajdeep Sardesai, graced the occasion with his presence.
The ceremony served as a platform to showcase the inspiring journeys and remarkable accomplishments of these business icons. Engaging 30-minute episodes highlighting their stories will be broadcasted, allowing viewers to gain insights into the experiences and achievements of these influential personalities.
source: http://www.english.varthabharati.in / Vartha Bharati / Home> Business / by Vartha Bharati / September 30th, 2023
CM, DyCM and other prominent leaders grace the inaugral ceremony of the ‘Bearys Souharda Bhavan’.
Bengaluru:
Chief Minister Siddaramaiah announced on Saturday that the state government has earmarked Rs 3,150 crores for the development of minority communities, with Rs 10,000 crores to be gradually reserved for this purpose in upcoming budgets. He made this announcement during his address at the inaugural ceremony of ‘Beary Souharda Bhavan’ here at HBR Layout.
The Chief Minister, accompanied by Deputy Chief Minister D.K. Shivakumar and other prominent leaders, inaugurated the Souharda Bhavan and the B.A. Mohideen Memorial Auditorium.
In his speech, Siddaramaiah emphasized the equal distribution of the state’s wealth among all its citizens, stating that “equal justice will be served, and no one can be treated unfairly.” He expressed pride in laying the foundation stone for Beary Souharda Bhavan and inaugurating it, highlighting its inclusivity by being open to people of all backgrounds.
Highlighting the important role played by harmony to achieve peace and progress in a country, he asserted that attaining peace and progress in a country or society is not possible without having harmony and equality among diverse cultures.
Stressing on creating harmony in the society, he stated, “Those who sow mistrust and hatred towards each other will be the primary reason for the downfall of this country. BA Mohideen was an exemplary personality with true secular values, who believed in friendship.”
He further assured strict action against those who disturb the peace in the society, emphasizing that individuals from all castes and religions are entitled to exercise their constitutional rights.
Beary community’s contribution to peace and development immense: D.K Shivakumar
Speaking at the ceremony, Deputy Chief Minister D.K Shivakumar commended the Beary Community as having contributed a lot to the development of peace, harmony and educational institutions in the state. He also thanked the Beary community for its support to the Congress party in the recent Vidhana Sabha Polls.
Acknowledging the community’s positive impact on Kannada language, he added that, “the Beary speaking community has made memorable contributions to Kannada literature, culture and language is immense. While girls wear jewelry to look beautiful, the beary speaking community has made Kannada beautiful” he said.
Meanwhile, he also recalled the contribution made by the community towards the temples of the Dakshina Kannada district, and also acknowledged that it was Bappa Beary who constructed the Shri Durgaparameshwari Temple in Mulki.
Shivakumar also stressed on generating employment in hometown and asserted that instead of heading to foreign countries or the gulf one should stress on creating jobs in the hometown, the exit of talent will prove harmful for the development of the state.
Encouraging people of Mangaluru, he cited the coastal city as the investors’ paradise and that the people should generate employment locally and remove the stigma of the city being called as the laboratory of communal riots.
Speaking about the requests made by the beary community for the grants, Shivakumar assured of all possible assistance within the framework of the law.
“Increase Muslim representation in the state cabinet”
Speaking at the inaugural ceremony, Syed Muhammad Beary, President of the Bearys Group and Beary Souharda Bhavan Building committee, urged an increase in Muslim representation in the state cabinet. Simultaneously, he also suggested giving ministerial positions to three people of the community including speaker U.T Khader.
In response to Syed Beary’s remarks, D.K Shivakumar noted during his address that, “You requested that UT Khader, who holds the position of a speaker, be considered for a ministerial role. He currently occupies a higher position above ours. SM Krishna and Jagdish Shettar were also speakers.”
Syed Beary also mentioned that the state government initially allocated a 30,000 sq ft plot of land. However, for some reasons, only 12,000 sq ft of land was allotted, and they have fully utilized it for the construction of this building.
Beary expressed hope that the government would allocate the remaining 18,000 sq ft of land for the construction of another building on the same model and hostel facilities for men.
B.A. Mohideen’s dream inspired the construction of this building, which has been named ‘Beary Souharda Bhavan’ in accordance with his suggestion. Syed Beary expressed, “This Bhavan will serve the community well, in line with the aspirations of B.A. Mohideen, who sparked an educational revolution amongst the Beary Muslims.”
The ceremony was attended by Speaker U.T. Khader, Energy Minister K.J. George, Health and Family Welfare Minister Dinesh Gundu Rao, Chief Minister’s Political Secretary Naseer Ahmed, Legislative Council Ruling Party Chief Whip Salim Ahmed, Umar Teekay, G.A. Bawa along with many other distinguished guests.
President of Bearys Welfare Association, Bengaluru and Member of Legislative Council B.M. Farooq presided over the event.
source: http://www.english.varthabharati.in / Vartha Bharati / Home> Karnataka / by Vartha Bharati / September 30th, 2023
Haji Abdul Razak Kote Hejmady, owner of Metalco Group of Companies was conferred with ‘Best Entrepreneur of Bahrain’ award.
Former President of India Ramnath Kovind presented the award to Haji Abdul Razak.
Abdul Razak, who is the president of Dakshina Kannada Muslim Welfare Association in involved in social and religious works since many years.
Abdul Razak has been residing in Bahrain from the past 47 years. He hails from the Kote family of Hejmady in Udupi district.
He has been the voice of Muslim Community of this Island for three decades and with his vision he established Dakshina Kannada Muslim Welfare Association, which continuously works for the betterment of the community.
Abdul Razak has been a tireless advocate for the Tulu and Kannada communities. His contribution towards various programmes to promote Tulu and Kannada languages and culture has been phenomenal.
source: http://www.daijiworld.com / DaijiWorld.com / Home> Top Stories / by Daijiworld Media Network – Bahrain (MS) / September 23rd, 2023
The promising startup VTEC, operating under the wings of Jamia Millia Islamia, has reached a significant milestone by securing ₹4 Crore in seed funding from an angel investor.
New Delhi:
In a momentous achievement for Jamia Millia Islamia (JMI) one of its talented MBA students and an ambitious entrepreneur, Mohammad Uwais, has successfully secured 4 crore in seed funding for his Startup VTEC.
This remarkable accomplishment has garnered attention and admiration not only within the university but also in the wider entrepreneurial community. The startup, initially bootstrapped, has now taken a significant step forward with this infusion of capital.
The promising startup VTEC, operating under the wings of Jamia Millia Islamia, has reached a significant milestone by securing ₹4 Crore in seed funding from an angel investor. This accomplishment marks a pivotal moment in the journey of the innovative venture, setting the stage for its rapid expansion and continued success.
The startup, VTEC, has thus far been a self-funded endeavour, demonstrating the dedication and perseverance of its entrepreneurial team. However, the recent infusion of ₹4 Crore in seed capital represents a major turning point. In exchange for this funding, the investor will acquire a 10% equity stake in VTEC, valuing the company at ₹40 Crores. This investment, which represents the pre-seed round for the company, will fuel VTEC’s ambitious growth plans.
VTEC is a multifaceted consulting firm that operates across various sub-domains, including political consulting, business consulting, finance consulting, and healthcare consulting. With a dedicated and dynamic team at its helm, VTEC has gained recognition for its expertise, innovative solutions, and commitment to delivering value to its clients.
This substantial injection of capital will allow VTEC to accelerate its expansion efforts, enhance its service offerings, and bolster its market presence. The funding will be utilized to develop cutting-edge solutions, expand the company’s client base, and invest in talent acquisition and development.
JMI takes immense pride in its association with VTEC and acknowledges the entrepreneurial spirit displayed by its students. The university’s commitment to fostering innovation and supporting its students’ entrepreneurial endeavours is evident through this collaboration.
The successful seed funding round reflects the confidence that investors have in VTEC’s potential to make a meaningful impact in the consulting industry. The company’s dedication to excellence, coupled with its commitment to serving diverse sectors, positions it as a valuable player in the consulting landscape.
As VTEC embarks on this exciting new phase of growth, the university extends its best wishes and unwavering support to the young entrepreneurs behind this venture. This accomplishment serves as a testament to the entrepreneurial ecosystem at JMI and underscores the institution’s commitment to nurturing talent and fostering innovation.
source: http://www.ummid.com / Ummid.com / Home> Business & Economy / by ummid.com news network / September 19th, 2023
It seems, on Thursday all roads led to a Swedish Furniture Store in Hyderabad — IKEA. The company’s name is an acronym — Ingvar Kamprad the name of its Founder, Elmtaryd name of his Farm and Agunnaryd the name of his Hometown in Sweden.
So the world famous furniture store IKEA opened its first store at HITEC City in Hyderabad and it lured so many people that traffic in the area came to a halt. Was it just curiosity that drove people there or a real desire to buy? Because Indians love heavy teak furniture that lasts forever and IKEA doesn’t really sell that kind of furniture.
IKEA produces light wood furniture and for the most part it’s a ‘Do It Yourself’ (DIY) project. Which means, when you go to an IKEA store and buy furniture, you will not get a fully assembled product. Instead, you take home all the required components and a detailed manual so you can assemble the furniture yourself.
When I mentioned IKEA’s DIY style of business to a friend he said, “What is this DIY? It’s like going to a restaurant, ordering a dish, and the waiter brings all the ingredients; you have to cook it yourself?” IKEA well understands this reluctance among Indians and has partnered with a company called Urban Clap which will send over a carpenter to assemble the furniture for a fee of Rs. 900.
Apart from contemporary furniture and lifestyle products, companies like IKEA bring something to a nation’s industrial landscape — they make our local companies globally competitive.
A month ago, I visited MAS Furniture, a Mysuru-based furniture manufacturing company headed by Shabbir Vagh. When I met Shabbir he was busy planting trees at the factory premises. When I enquired about it he replied saying, “We’re now manufacturing for IKEA and they have a requirement which states that every factory must have a certain amount of green cover.”
It seems to be qualified as an IKEA supplier one has to follow IKEA’s IWAY policy. IWAY is short for the IKEA-Way of doing things. One such IWAY is that vendors that partner with IKEA must have a healthy male to female ratio in the factory.
Shabbir says that ratio is 1:1 and now he has hired a whole lot of women to make for a 1:1 workforce. IKEA also wanted pay parity that is based on merit and experience rather than gender.
Strict standards have been laid out for workers’ safety, which means all workers on the shop floor have to wear gloves, bright vests and goggles. Apart from this, the vendor has to maintain clean accounting standards.
As for the raw materials, Shabbir shows me a beautiful vegetable crate made from pine wood which he supplies to IKEA and tells me the varnish on the wood has undergone innumerable tests to the point that the wood is safe enough even for a child to chew on.
He also informs me that every piece of wood used by IKEA is certified by the Forest Stewardship Council, an international body governing the sustainable and responsible use of forest resources.
So how has all of this helped Shabbir’s family furniture business? Thanks to following the IKEA way of manufacturing, the company has attracted new global partnerships. MAS Furniture now supplies furniture to the Trump Tower being built in Pune and is making furniture for the world famous French product designer Philippe Starck.
This is proof that when global companies with good practices partner with local manufacturers, they improve their standards making them globally competitive. When our industrialists can learn, adapt and become globally competitive, why can’t our politicians and bureaucrats? Well, it turns out politicians and bureaucrats of Telangana already have.
It was reported that IKEA was first to open in either Mumbai or Bengaluru but suddenly chose Hyderabad. The reason being that the Principal Secretary of Telangana, after reading about IKEA’s plans for India, contacted them and deputed a few proactive bureaucrats to help them get all the approvals and allotted land in HITEC City. The speed at which things moved ensured that IKEA opened its first India Store and the country’s largest retail space in Hyderabad while providing employment to 950 people in the store alone!
In contrast, a mobile phone brand based in Bengaluru approached the Karnataka government for industrial land to setup a mobile research and development lab in 2015. They even met the previous Chief Minister but nothing came of it. Later, Telangana heard about this project, called the owners, held talks and soon offered them 1.6 acres in Gachibowli to set up their Lab. Today the construction is on track and is expected to be completed by 2019 and will employ over 300 people.
The manufacturing philosophies of companies like IKEA are very relevant for a growing economy like ours. Karnataka needs such companies and for that our leaders have to be proactive. The last time we had such a Chief Minister was S.M. Krishna, who ushered in the IT boom. Now we have a coalition government and there is an atmosphere of industrial gloom.
e-mail: vikram@starofmysore.com
source: http://www.staromysore.com / Star of Mysore / Home> Columns in Black & White / by Vikram Muthanna / August 11th, 2018
In India there is a presumption that good, juicy dates are procured only in the Gulf Cooperation Council (GCC) countries. Little do we know that similar quality dates can be grown in India too.
Though the Kutch region in Gujarat, Punjab and Rajasthan are two major date-growing states, with Gujarat alone home to 2 million date palm trees, Tamil Nadu in south India is fast catching up.
Despite India being the one of the largest importers of dates in the world – around 3.5 million metric tons every year – there is good market for homegrown dates both locally and abroad.
Farm-cum-nursery
Meet Nizamuddin S., who cultivates 32 varieties of the luscious fruit as well as date palms. His farm-cum-nursery at Ariyakulam in Dharmapuri district in western part of Tamil Nadu literally bears fruits of hard labor and innovation.
The dangling cluster of dates on date palms at his farm are feast for the eyes. Owner of Saliah Dates, Nizamuddin got the idea of cultivating dates while working in Saudi Arabia.
Finest Saudi dates
Responding to emails from Al Arabiya English, Nizamuddin said: “Saudi Arabia has the finest dates in the world. One fine day I thought why such dates cannot be grown in India? It seemed possible and I bought 100 plants for testing and the idea blossomed”.
There has been no looking back since then as his nursery-cum-farm now has more than 32 varieties of date palms. One of them is the Barhee dates, which costs Rs. 300 per kilogram. Barhee is the best variety and yields more than 200kg per plant.”
Tamil Nadu is an important state for dates in southern India. Here climate, soil and irrigation facilities in some coastal regions like Tirunelveli, Tuticorin and Ramanathpuram districts favor date palm cultivation.
Tissue culture technology
Over decades of cultivation practices followed in different regions, regenerating dates either by seeds or offshoots and trying different imported cultivars, have led to the present date fruits of great variations in size, shape, color, weight, taste and astringency.
Moreover, controlling date palm diseases using methods, which do not pollute soil, plant and products, has not been easy.
The obvious solution was to produce date palms by adopting tissue culture technology, which enables farmers to select only the best trees as every plant produced from the cut stem is genetically identical to the parent tree.
Transforming technology
Nizamuddin is aware that tissue culture can do wonders to the plantation. So he started to import tissue culture plants from abroad where such technologies have been developed.
“Twenty years ago first we tried seedlings. But there was an issue in the sense that we could not differentiate between a male and female plant. Only the female date palm can bear date fruits. But with tissue culture the plant is 100 percent female and we can get yield by 2 1/2 years”, says Nizamuddin.
“We import such plants from Abu Dhabi and sell all over India. We are soon planning to introduce new varieties. Ajwa dates are our first priority. Depending on how successful the yield is we will go for further new varieties. On the anvil are making different types of food products with dates like date syrup, chocolates, etc.”
source: http://www.english.alarabiya.net / AlArabiya News / Home> Features / by Aftab Husain Kola / June 21st, 2018
India, the world’s sixth-largest coffee grower, on an average produces about 3.2 lakh tons of coffee every year of which 75 percent are exported to countries like Italy, Germany, Russia, Belgium and Turkey. Today, India is home to 16 distinct varieties of coffee.
The journey of coffee to India has a vivid Arab connection. A devout pilgrim hailing from Chickmagalur, a picturesque hill station in India’s Karnataka state, Hazarat Shah Janab Magatabi, fondly known as Baba Budan, on his return journey, around 1600 AD via Yemen brought with him seven Coffee Arabica seeds by strapping them to his chest under his tunic.
Legend has it that Arabs were extremely protective about their coffee industry and taking the seeds outside was not allowed. The saint had known that they were magical seeds for making refreshing beverage as he had tasted the kahwa (Arabic for coffee) in Mocha, a port city of Yemen that overlooks the Red Sea.
Besides being a trading hub for coffee, Mocha was the source of the popular Mocha coffee beans. After reaching his native place, Baba Budan sowed the seeds in his hermitage garden near a hill cave at Chandragiri and the rest is history.
The coffee plants gradually spread as backyard plantings, and later on to the hills. The hills are now called Baba Budan Hills after the him. Today Chickmagalur, the birthplace of coffee in India, is filled with coffee plantations throughout its length and breadth.
Besides Chickmagalur, the charming region of Coorg is also one of the major grower of coffee. Coffee cultivation grew and thrived in India during the British rule and beyond.
The Dutch began to harvest coffee in the Malabar region, but a major transition happened when the British led a relentless drive to set up Arabica coffee plantations across the hilly regions in South India, where the climatic conditions were more favorable for the crop.
Grown under a canopy of thick natural shade in ecologically sensitive regions of the Western and Eastern Ghats spread over Karnataka, Kerala and Tamil Nadu, Indian coffee quickly spread to non-traditional areas like Andhra Pradesh and Odisha on the Eastern Coast; Assam, Manipur, Meghalaya, Mizoram, Tripura, Nagaland and Arunachal Pradesh in the North East. Despite many states growing coffee, Karnataka and Kerala, accounting for nearly 90 percent of total production.
In India, based on region of production, 13 regional coffees are classified: Anamalais, Bababudangiris, Biligiris, Araku Valley, Brahmaputra, Shevaroys, and Pulneys (for Arabica) and Wayanaad and Travancore (for Robusta). Coorg, Chikmagalur, Nilgiris and Manjarabad are famous for both Arabica and Robusta.
Apart from these 13, there are three Specialty Coffees classified based on their international popularity. They are Monsooned Malabar, Mysore Nuggets and Robusta Kaapi Royale.
During a recent visit to Baba Budan hills, this correspondent spoke to stall owners and few tourists who still are thankful to Arabia for the wonderful coffee.
One stall owner who sells cool drinks and snacks on the hills overlooking the shrine summed up, “It is because of Baba Budan that India got coffee so early and the credit for discovering coffee goes to Arabs who invented and discovered hundreds of stuff including the coffee.”
Little wonder then a small cup of coffee has so much history behind it.
source: http://www.english.alarabiya.net / AlArabiya News / Home> Features / by Aftab Husain Kola / October 07th, 2018
More than 1,000 unused rockets of India’s freedom fighter Tipu Sultan’s era found toward the end of July this year, will now be showcased at a newly created rocket gallery at the museum at Shivappa Nayaka Palace in Shivamogga city in the state of Karnataka.
The gallery, named as Bidanur Rocket Gallery after the famous Bidanur Fort at Nagar in Hosanagar taluk of Shivamogga district, will open to receive visitors in October.
Visitors will be able to feast on the rockets used by Tipu Sultan, the illustrious son of Karnataka, who was known as “Tiger of Mysore” for his daring acts against the British who ruled India then.
Bidanur served as an important administrative centre of Mysore State (renamed as Karnataka) and Tipu Sultan had even established a mint and an armory here.
Speaking to Al Arabiya English, R. Shejeshwara, Assistant Director of the Department of Archaeology, Museums and Heritage, said that the findings were discovered during a field excavation at a farmer’s well in Nagara village in Hosnagar Taluk, Shivamogga district, conducted by Department of Archeology, Museums and Heritage.
He said, “the shape of a cylinder and having a fuse at one end reveal that these rockets were used during the eighteenth century AD during Tipu’s time. Each unused rocket is of 7 to 10 inches in length and 1 to 3 meter in diameter and are rusted because of continuous exposure to soil moisture”.
Shejeshwara further said that like the earlier rockets found in 2002, those recovered recently also are iron-cased with black powder, a mixture of sulfur, charcoal and potassium nitrate filled inside. The 15-member crew of archaeologists, excavators and laborers took three days to unearth the armory and the ammunition.
Shejeshwara said that after the fourth Anglo-Mysore War, it is likely that Tipu’s army, stationed in Nagara, could have dumped the rockets in the well to prevent them from getting into the hands of the East India Company.
The media spotlight on the recent findings speaks volumes about how this powerful 18th century ruler of Mysore is remembered. Mysore under Tipu stood as a bulwark against the British.
Tipu conceptualized, designed and manufactured cylindrical iron tubes that ensured for great compression of the filled gunpowder and consequently, greater range (nearly 2 km). The brave freedom fighter then fastened them to swords or bamboo poles to provide stability, that would, in turn, lead to better accuracy.
Fitted with sharpnels that traveled a considerable distance, these air-borne weapons would target the enemy with edges of the sharpnels facing them.
These were the first iron-cased rockets used in the military thus paving the way for rockets use around the world.
The first rocket, which was fired by Tipu Sultan in 1792 against the British forces, is displayed at the British Museum. Though the British lost the war, they have exhibited the rocket.
After being the victims of these innovative locally-crafted rockets, the British eventually adopted the technology. Tipu Sultan wrote a military manual called Fathul Mujahideen in which he explains that 200 rocket men were assigned to each Mysorean cushoon (brigade).
Little wonder then the credit for developing the first-ever iron-clad rockets goes to Tipu Sultan and they were successfully deployed for military use.
In the Battle of Pollilur (the Second Anglo-Mysore War in 1780), Tipu’s rockets set afire the East India Company’s ammunition dumps. It was the British Army’s one of the worst ever defeats in India.
It may be recalled that a set of 24 rare and rediscovered preparatory paintings depicting the Battle of Pollilur was sold to a bidder for £769,250 at the Sotheby’s biannual Arts of the Islamic World Sale in 2010. The Britishers described these rockets filled with gunpowder on swords as “flying plagues”.
Tipu took advantage of them and established four taramandalpets (star-cluster bazaars, a name that refers to the pattern of mid-air explosions of these rockets that then pounded shrapnel on the enemy) at Srirangapatna, Bidanur, Chitradurga, and Bangalore to conduct research on Mysore rocket technology.
The armory in Kalasipalyam in Bangalore was among the four that were constructed by Tipu Sultan to store ammunition. The 18th century armory that housed the famed rockets of Tipu Sultan is hardly known.
After the death of Tipu in 1799, the British Army discovered as many as 600 launchers, 700 serviceable rockets and 9,000 empty rockets at Tipu’s fort.
One of the major beneficiary was the Royal Artillery Museum in Woolwich in the UK. The powerful ruler was killed in the fourth Anglo-Mysore war in 1799 after a slew of victories in battle against the British.
http://www.english.alarabiya.net / AlArabiya News / Home> Life > Travel & Tourism / by Aftab Alam Kola / August 09th, 2018
The 108th Annual General Body Meeting (AGM) of theMuslim Co-operative Bank Limited was held on Sunday in the 2nd floor of the Main Branch Building on New Sayyaji Rao Road in city.
Bank President Dr. Abdul Ravoof, who is also an Orthopaedic Surgeon, presented the Directors’ Report and Audited financial statements for the year 2022-2023.
He also spoke in detail about the overall development of the Bank and requested the loanees to repay their monthly instalments on time to reduce the percentage of NPA, which is very important for the expansion activities and overall development of the Bank, which is serving the community since 108 years.
Dr. Abdul Ravoof informed the share holders that the Bank has earned Rs. 1.66 crore profit during the year 2022-2023. The Board of Management proposed 15 percent as dividend for the year 2022-2023 which was raised to 20 percent on the demand from share holders.
The meeting began with the recitation of verses from the Holy book of Quran by young Moulana and Hafiz Umez Saheb.
On the occasion, children of the Members of the Bank who excelled in II PUC and SSLC examination held in the year 2022-2023 and senior share holders of the Bank were felicitated.
Bank Director Abdur Rahman Shariff welcomed.
Manager of Main Branch Md Khaleel-ulla Shariff presented the proceedings of the previous AGM.
Bank Director Md Akram proposed a vote of thanks.
Directors Rahmath Ulla Sharifff and Abdur Rahman Shariff were also present.
source: http://www.starofmysore.com / Star of Mysore / Home> News / September 06th, 2023