CO-OPERATIVE SOCIETIES IN INDIA ARE THE STRONGEST: GILBERT BAPTIST

Mumbai, Sept. 28: The Eighteenth Annual general meeting of Malaika Multi-State Co-operative Credit society was held on Friday at St. Joseph church auditorium in Seethal, Meera Road East. This program was held under the presidency of Gilbert P. Baptist- the chairman and CEO of Malaika groups. The chief priest of St. Joseph church was present as the chief guest and initiated the program invoking the blessings. The director of Malaika groups- Marcelena G. Baptist, members of the association, Sushanth S. Sabath- the treasurer, the member- Manohar R. Shetty, the representatives- Felix D’Souza Malwani, Cyprian Albukark, Mose Cardoza were present on the dais.

Malaika appliances and Malaika financial organization are the two faces of same coin engaged in serving people of the society. It is also engaged in providing various contribution for the development of the society. It has always been working successfully for the betterment of the people. Fr. Melwyn D. Cunha expressed his views on the occasion and wished for the better future of the society.

In spite of global economic competition, co-operative societies are functioning at their own level by providing financial assistance to the people. Likewise, Malaika Society has also maintained its steady growth. In the past year, this society had a deposit of Rupees 19.58 crore, advance- Rs. 20.09 crore, Share capital- Rs. 1.25, and profit of Rs. 48.33 Lakhs. The Chairman of the Society- Gilbert Baptist said that, “the profit has been distributed to customers and shareholders” and he also announced 14% dividend for the shareholders.
The members of the society- Loyal Baptist, Serophina Lopes and others were present on the occasion. The special invitees- Benedicta B. Rebello- the Director of Model bank, other dignitaries and the representatives of Malaika groups were present on the occasion and they were honored by Gilbert Baptist.

At the beginning of the program, Fr. Melvin D’ Cunha offered holy mass and blessed the gathering. Homage was offered to the society members and well wishers departed in the past year. Noel Mascarenhas welcomed the gathering, compered the program and proposed vote of thanks. The program came to an end with National anthem.