Shri A.K.Vishwanath Reddy is the founder of Mulukanoor thrift society was instrumental with development of villages around Bheemadevarapalli village. The formation of village societies to have savings made has given them self realization for funds. They started Mulukanoor cooperative Bank for savings. Many schemes were introduced viz. member insurance, selling the crop at market prices without involvement of brokers, giving members credit on the seeds and fertilizers, giving crop loans for members etc., which are very useful for members. The programs started by these societies have given faith that women folk can also have thrift society and they can also contribute with their amount of savings for their family.
Although Shri A.K. Vishwanath Reddy has died much before starting of Mulukanoor Women's Cooperative Dairy, his principles and ideals have always been inspiration for the founding members and others.