Multi-State cooperatives are societies that have operations in more than
one state. Such MSCSs are registered under the Multi-State Co-operative
Societies Act 2002, and their regulation lies with the Central Registrar.
What is the Aims and Objectives of the Cooperative Society ?
The primary motto of any Cooperative Society is to refine the economic
condition of its members. Thereby, it accentuates on better business and
better living by carrying out operations that serve to the common economic
interest and benefits to the members. Following are the objectives of
cooperation:
To develop cooperation, self-respect, and self-reliance amongst the members.- To buy and produce quality goods, tools, equipments, and raw materials to the end customers.
- To associate with Government and other organizations of similar business.
- To undertake those activities that caters to the welfare and well-being of the members and society.
- To promote unity amidst the members and remove any sort of internal competition.
- To practice transparent and fair business dealings.
What is mission of the multi state society ?
The mission of the multi state society is to facilitate the voluntary formation
and democratic functioning of cooperatives as peoples institutions based on
self help and mutual aid and enable them to promote their economic and
social betterment and to provide functional autonomy.
Vision
The primary vision of Multistate Credit Cooperative Society limited is to
provide quality, Honest, Trusted and committed financial services to its
members, in the process become the high tech leading cooperative in India.
To serve the members by fostering a strong economy and providing financial
stability with talented and innovative brains working tirelessly behind it.
Offering equal opportunity to all groups of people to live and improved life by
financial enablement and empowerment.
To become the leading bank, playing an important role in the co-operative
movement and providing relevant and innovative financial services to our
members / customers for the optimum benefit of all our shareholders.
To become strong, viable cooperative organization which is sustainable and
responsive to the socio-economic needs of its members with financial
independence, providing competitive products and services, guided by
responsible, honest and entrepreneurial cooperative values.
To take the cooperative movement to the rural, urban and downtrodden
people and bring in a financial stability and be a part of the development
vision of India.
What are the benefits of a multi state cooperative society?
The advantage of registering under the MSCS Act is similar to the benefits
acquired by registering a company. A registered multi-state cooperative
society has the privileges of limited liability, separate legal identity, and
the ability of members to transfer their membership.
What is the purpose of Multi Purpose Cooperative?
The multipurpose co-operative society has large number of functions to
discharge. As the name indicates its responsibility for different purpose for
which it has been set up. It can work for arranging credit, improved seeds,
agricultural implements, fertilizers, sanitation, health etc. for its
members.
Who controls multi state cooperative society?
The Central Registrar
Multi-State cooperatives are societies that have operations in more than one
state. Such MSCSs are registered under the Multi-State Co-operative
Societies Act 2002, and their regulation lies with the Central Registrar.
What is the main motto of cooperative society?
Maximization of profit is the main motto of co-operative society.
Who is the regulator of multi State cooperative society?
State Cooperative Banks (StCBs)/District Central Cooperative Banks
(DCCBs) are registered under the provisions of State Cooperative Societies
Act of the State concerned and are regulated by the Reserve Bank.
Who are 6 main officers of cooperative?
- Members of the Board of the Directors;
- Members of the different committee created by the general assembly;
- General Manager or the Chief Executive Officer;
- Secretary;
- Treasurer; and
- Members holding other positions as may be provided for the by-laws of
the cooperative
Which state has highest multi state cooperative societies?
Maharashtra
Maharashtra has the highest number of such cooperative societies at 567,
followed by Uttar Pradesh (147) and New Delhi (133). The MSCS Act was
passed to govern such cooperatives.
What is difference between cooperative society and multi
state cooperative society?
Multi State Cooperative Societies Act, 2002 was enacted to consolidate and
amend the laws relation to Cooperative societies with objects not confined to
one state. MSCS is a Cooperative Society with objects to serve the
interest of the members in more than one State.
Which form is required for formation of multi state
cooperative society?
The list has to be submitted in the format annexed with the MSCS Act
2002 along with the copies of ID prooofs of the members duly attested by
Chief promoter.
What are the features of multipurpose co operatives?
The multipurpose co-operative society has large number of functions to
discharge. As the name indicates its responsibility for different purpose for
which it has been set up. It can work for arranging credit, improved seeds,
agricultural implements, fertilizers, sanitation, health etc. for its
members.
What are the five features of cooperative society?
Features of Cooperative Society
- Separate legal entity. As registration of a Cooperative Society is compulsory,
it has a separate legal entity that is distinct from its members.
- Democratic
- Limited Liability
- Free Entry and Exit
- Social Welfare
- Easy to form
What are the 3 advantages of cooperatives?
Advantages of a co-operative include that:
- there are equal voting rights for members.
- this structure encourages member contribution and shared responsibility.
- liability for members is limited.
- there is no limit on the number of members
How do you organize a Multi Purpose cooperative?
Sequence of Events Outline
- Invite leading potential member-users to meet and discuss issues.
- Identify the economic need a cooperative might fill.
- Conduct an exploratory meeting with potential member-users.
- Survey prospective members to determine the potential use of a cooperative.
What is Multi state cooperative society Act 2002?
An Act to consolidate and amend the law relating to co-operative societies,
with objects not confined to one State and serving the interests of members
in more than one State, to facilitate the voluntary formation and democratic
functioning of co-operative s as peoples institutions based on self-help and
mutual aid.
What is the main objective of cooperative society ?
- They aim to provide goods and services.
- They aim to eliminate the unnecessary profits of middlemen in trade and
commerce .
- They seek to prevent the exploitation of the weaker members of society.
- They aim to protect the rights of people both as producers and
consumers.
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