Sindhudurg District Vaishya Samaj Co Operative Society Ltd. Is established on 19th Oct 1991 and Vaishya samaj actually got the financial support to start own business. It was very hard to establish such a Co Operative Society in small village like Phondaghat at that time. But Hon. Digambar Govind (Dada) Korgaonkar (Chairman), Hon. Shankar Shridhar (Dada) Kushe(Secretary) , Hon. Ganpat Modiand all other theirs colleagues took risk and established Sindhudurg District Vaishya Samaj Co Operative Society.Initial days were tough to survive this society because lack of cooperation and response from the people. But was continued by keeping thought of future. And now that small plant at corner of “Shree Dev RadhaKrishna” temple is converted into large tree having eight branches.
The count of members have been reached from 405 to 3499. Share capital has been reached from Rs.2,26,500 to Rs.62,32,900, Total Deposit from Rs.5,52,607 to Rs.22,32,34,332.85 and Total Loan amount from Rs.5,98,000 to Rs.16,43,58,255. Currently our working capital is reached up to Rs.2,51,46,55,540 from Rs. 17.50k.Our Total Profit is Rs.72,23,511.24 and our Total Investment is Rs.6,12,27,577.It is not so easy to contribute such an achievement within a short period.