When the Bai Ratanbai J. Chenoy Parsi High School in Secunderabad celebrated its annual day on December 18, 2016, Khushroo F. Toorkey, chairman of The People’s Co-operative Credit Society Limited (PCCSL) presented them with a cheque for Rs 70,865 toward scholarships for six deserving students and another cheque for Rs 5,000 toward the welfare of teachers. Ashish Chenoy, secretary of the School, thanked the PCCSL for giving scholarships year after year to deserving students and for teachers’ welfare, states a write-up received from Kerfegar B. Antia, vice chairman and director of PCCSL who gave away prizes to winners of various competitions held at the School.
Kerfegar Antia (center) with prize winners; (insets): Khushroo Toorkey (left) and Ashish Chenoy
Each year, PCCSL earmarks one percent of its profits for its "Common good fund” to be given to various deserving organizations. Tracing the history of the Society, Antia informs that the People’s Mutually Aided Co-operative Credit Society Limited was established on January 29, 2001 by retired officials of the Bank of India so that senior citizens could receive decent returns on their investments as interest rates of banks had gone down drastically. This was the genesis of PCCSL, whose membership, as of March 31, 2016, stood at 2,629. Senior citizens form 70% of its members, among whom are a number of Zoroastrians from the twin cities of Secunderabad and Hyderabad, Antia notes.