Palakkunnu Sri Bhagavathi Temple is one of the famous temple in North Malabar. It is managed by a registered and elected body.Palakkunnu Sri Bhagavathi Kshethra Vidyabhyasa Samithi started functiong in the year 1968 under the temple with the intention of aparting modern education to the general public. Sri H Gopalan Master and Adv.T Bharathan were its founder President and General Secretary. The aim of Vidyabyasa Samithi is overall development of the people under its jurisdiction emphasizing more in education,art and cultural activities. To fulfill the aim Vidyabyasa Samithi Started educational institution,
Conducting cultural activities, giving financial and material assistances to poor and eligible students of backward communities,assisting eligible students who desire higher education by means of scholarships, loans and fee concession.