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Uralungal, village cooperative turns into world s 2nd largest cooperative
By IANS |
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Thiruvananthapuram, April 16 : The Uralungal Cooperative Society was formed by the eminent social reformer Saint Vagbhatananda in a remote rural hamlet called Uralungal in Vadakara of Kozhikode district of Kerala in 1925.
In 1924, one of the then local newspapers published an article on a notification of Malabar District Board under British rule inviting people to form cooperatives in the Malabar region. This led 14 young people to form the Uralungal Workers Cooperative Society, which gives equality among them.
The growth of the cooperative from a 37 paise British Indian currency to Rs 5,000 crore Indian rupees in a period of 96 years was achieved by its ethical practices of labour welfare and vigilant measures of Capital accountability .