Varappetty cooperative bank sets an example in entrepreneurship
The Hindu
It exports coconut oil, processed tapioca and banana chips to three countries
The spirit of enterprise has helped the 97-year-old Varappetty Service Cooperative Bank turn even the pandemic into an opportunity through a variety of initiatives that are often still alien to traditional service cooperative banks in the State.
The fame of the bank has now spread across the seas as consignments of coconut oil, processed tapioca and dehydrated banana chips were flagged off from the bank premises on Saturday by Cooperation Minister V.N. Vasavan, to be exported to New Zealand, Australia and the US.
The cooperative bank, which boasts of a membership of nearly 9,500, had ventured into providing coconut oil with a view to supplying a quality product in the face of widespread allegations of adulteration, says M.G. Ramakrishnan, president of the bank, who initially mooted the idea of having a oil extraction unit to ensure the availability of quality coconut oil.
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