ESTABLISHMENT:

The Mulukanoor Cooperative Rural Bank And Marketing Society Ltd was established in the backdrop of India's independence in 1947 and the subsequent abolition of the Nizam's rule over the dominion of Hyderabad. At the time of its establishment, 85% of India's population was under the poverty line while also living in rural areas and 80% of this population was dependent on Agriculture. In fact, the First Five year plan was focused on agriculture and the Government of the India and the states had identified the Cooperative movement as an engine for growth and progress. In this process, The cooperative was started by 375 farmers from 14 Villages with a share capital of 2300/- under the leadership and participation of Late Sri A.K.Vishwanatha Reddy Gaaru. Back then, these villages were characterized by lack of permanent irrigational facilities, poor water sources, a prevailing drought condition and topography covered with hillocks.