Brief History of Laxmi Sahakari Bank Niyamit, Guledgudd.

It is a matter of great pleasure and privilege for me to present a historical background of our bank to its enlightened reader. This was resolved by local philanthropists to extend a yeoman service to all people of, in and around the town. This Institution is said to have established under a leadership of late Shri Veerupaxappa Bhavi and brought under legal frame of registration on 5th February 1913. During first six decades of its inception, it was with an aim of rescuing the local poor from the clutches of private money lenders, it extended a financial need to sustain their productive business. After 1961 in order to cater the needs of handloom weavers, it was renamed as Industrial Co operative Bank. Although an effective functioning of the Bank a needy recourse was not collected by the then leaders, so it was unanimously resolved to change the banner of institution.