The seed of agents’ collective was sown in 1997 when the LSAs have asked for loan facility for their needs while they were serving to provide loans to rural producers and members of SHGs. BASIX had set up a norm that it would not provide loans to its own employees or agents as a matter of principle. And in turn encouraged its employees to form a society. As a result, BASIX Employees and Agents Mutually Aided Cooperative Society Limited (BEAMACS), a Society planned to set up by the first set of board members in the meeting held on May 27, 2000.

Subsequently, on February 8, 2001, BASIX Employees and Agents Mutually Aided Cooperative Society Limited (BEAMACS) was registered as Mutually Aided Cooperative Society under Section 5 of Andhra Pradesh Mutually Aided Cooperative Societies Act, 1995 with a motive of encouraging all employees and agents of BASIX Social Enterprise Group (BASIX SEG) to become its members and avail its services in cooperative mode.

Since then, the Society grown with steady pace on increasing the number of members, offering savings facility and provide loan products to its members and conduct welfare activities from time to time.