Interest-free business loans to 1,970 people
Bidar Cooperative Disburses Interest-Free Business Loans to 1,970 People
Bidar: The Karunya Sauharda Cooperative Society in Bidar has provided interest-free business loans to 1,970 individuals in the 2025-26 financial year, stated the society's Managing Committee President, Mujtaba Khan. Speaking at the 9th Annual General Meeting held at Moghal Garden Function Hall, he reported that the society disbursed a total loan amount of Rs. 4.13 crore, with overall transactions amounting to Rs. 97.26 crore and profits of Rs. 18.8 lakh.
The society offers various loans including interest-free business loans, emergency loans, and educational loans to those in need. Mujtaba Khan emphasized that interest-free loans have been a lifeline for small traders, helping them avoid heavy interest payments. Beneficiaries like Muhammad Abdul Nayim and Ravi Kanere expressed that the loans have facilitated prosperity in their businesses. The meeting was chaired by President Rafeeq Ahmad Gadagi, with microfinance expert Abdul Jabbar Siddiqui advising on the society's development. Several officials and directors, including Muhammad Iqbal and Muhammad Asifuddin, attended the event, which began with a Quran recitation by Rahmat Ulla Khan.
The society offers various loans including interest-free business loans, emergency loans, and educational loans to those in need. Mujtaba Khan emphasized that interest-free loans have been a lifeline for small traders, helping them avoid heavy interest payments. Beneficiaries like Muhammad Abdul Nayim and Ravi Kanere expressed that the loans have facilitated prosperity in their businesses. The meeting was chaired by President Rafeeq Ahmad Gadagi, with microfinance expert Abdul Jabbar Siddiqui advising on the society's development. Several officials and directors, including Muhammad Iqbal and Muhammad Asifuddin, attended the event, which began with a Quran recitation by Rahmat Ulla Khan.