Brand Name: Urban Gramin Society
Year of Establishment: 2020
Founder & CEO: Ajith Palat
Products: Financial services including deposits and various types of loans
Area of Operation: Thrissur, Palakkad, Malappuram, and Kozhikode
Urban Gramin Society (UGS) has grown into a vital support system for the people of Palakkad, especially during the challenges of the Covid pandemic. Founded in 2020 by Ajith Palat, a young entrepreneur with deep experience in financial services, UGS was created with a simple yet powerful vision — to bring innovative banking solutions, once limited to cities, to the heart of rural India.
What began as a local initiative has now expanded beyond Kerala into other states, making financial access more inclusive and community-driven. UGS offers a range of investment and loan products designed to meet the diverse needs of its customers, ensuring that everyone — from small entrepreneurs to everyday savers — finds the right financial support.
Today, under the leadership of chief executive officer Ajith Palat, the organisation is broadening its horizons beyond financial services, with strategic diversification into hospitality, agro-food, and cooperative sectors. Each step reflects UGS’s mission to create opportunities, strengthen rural economies, and deliver growth rooted in trust and innovation.
The goals of the organisation are reflected in its very name. Urban Gramin Society was founded with a vision to bring urban comforts and opportunities to rural communities — bridging the gap between modernity and tradition. The organisation seeks to empower rural populations through innovation, professionalism, and the modern practices that drive progress in cities.
Headquartered in Mannarkkad, Palakkad district, Urban Gramin Society is making its mark by offering some of the most advanced financial services tailored to rural needs. This approach has earned the trust of the community, enabling the organisation to grow rapidly despite being relatively young.
“Our mission is to work for the progress of every section of society,” says CEO Ajith Palat, reflecting the organisation’s commitment to inclusive growth and sustainable development.
The logo of Urban Gramin Society represents progress, connectivity, and inclusion — the very principles on which the organisation was built. It symbolises the uniting of diverse communities under one vision of shared growth and prosperity. As a platform that connects the urban and rural worlds, the logo stands as a visual expression of harmony, collaboration, and forward movement.
Born during the Covid era, Urban Gramin Society began its journey at a time when communities needed financial support and stability the most. Taking that bold step during an uncertain period became the organisation’s first and most defining milestone.
Founder and CEO Ajith Palat brought to the venture his extensive experience in the banking sector and a strong professional network, both of which helped UGS establish a firm foundation and expand its reach. From the outset, the company’s primary goal has been to prioritise customer service, ensuring that every initiative is built around trust, accessibility, and community welfare.
Nearly 85% of Urban Gramin Society’s workforce comprises women — a powerful example of inclusion and empowerment. By bringing together people from all walks of life, the organisation is creating meaningful career opportunities and fostering financial independence for women across the region.
Around 80% of the company’s loan portfolio consists of gold loans, offering strong collateral assurance and minimising risk for investors. This reliability has helped Urban Gramin Society earn a reputation as a safe and trustworthy investment institution, where customers and investors can place their confidence without hesitation.
Urban Gramin Society serves as a vital bridge connecting rural communities with urban economic systems. By blending the accessibility of rural finance with the efficiency of urban banking practices, the organisation ensures that growth and opportunity reach every corner of society.
Expansion and diversification form the core of Urban Gramin Society’s future vision. In 2024, the organisation stepped into the hospitality sector through the launch of UGS Group of Hotels & Restaurants, which includes Chef Palat and Palat Residence — two ventures that showcase the brand’s growing versatility and entrepreneurial spirit.
UGS has also ventured into the cooperative sector with the establishment of Pyramid Agro Multistate Cooperative Society Limited, aimed at building a strong and inclusive cooperative network. Currently active across Kerala, Karnataka, and Maharashtra, the company plans to expand its footprint to more regions within these states in the coming years.
Looking ahead, the group is preparing to launch a dairy division under the name Palat Dairy, marking its entry into the agro-food sector. Through these initiatives, Urban Gramin Society seeks not only business growth but also sustainable development and community empowerment, staying true to its mission of bridging opportunities between rural and urban India.
UGS offers a wide range of financial services designed to meet the varied needs of its customers. Along with investment options such as savings accounts, recurring deposits, and fixed deposits, the organisation also provides a comprehensive set of loan schemes — including gold loans, personal loans, business loans, property mortgage loans, loans against fixed deposits, and group loans.
What sets UGS apart is its ability to cater to individuals, businesses, and communities alike, ensuring that everyone — from small entrepreneurs to families — has access to financial solutions tailored to their goals and circumstances.
