Nellore: Kovur MLA Vemireddy Prasanthi has said that Indukurpet Cooperative Agriculture Credit Society (ICACS) has been playing a crucial role in improving the living standards of farmers for the last five decades.

She participated in the Golden Jubilee Celebrations of ICACS organised in Indukurpet on Saturday.

Addressing the gathering, the MLA recalled that late Maram Reddy Balakrishna Reddy and Gunapati Subbaramireddy have established this bank with 645 members with Rs 45,000 share capital in 1956 by bringing awareness among farmers in Indukurupet mandal in those days. She said now ICACS has Rs 32.32 crores turnover per year and gained Rs 70 lakh profit by lending Rs 27.65 crore loans to farmers in 2024-25.

Describing ICACS as 'Akshaya Patra' to farmers of Indukurupet mandal, she said that it has been giving loans to farmers with simple rate of interest for their needs during natural calamities.

ICACS president G Amaranth Reddy, officials K Tirupal Reddy, B Ravikumar, TDP leaders and others were present.