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  • NCUI: Setia gets his promotion at last!

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    The jinxed DPC finally cleared the decks for the promotion of Ved Prakash Setia and others last Friday as a new DPC was constituted and it recommended promotion for six officials of the apex cooperative body. “Yes; it has done its job and even the President has put his signature”, informed CE Satyanarayan to Indian Cooperative. It was done in a transparent manner as a reconstituted Departme...
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  • GUCBF organizes discussion on UCBs

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    Gujarat Urban Co-operative Banks Federation and a distinguished monthly journal Governance Today recently held a discussion in Ahmedabad on the Urban Co-operative Banking sector. The discussions were focused on identifying the challenges and future prospects of the cooperative banking sector in the country. The high level discussion was presided by Jyotindra Mehta, President, NAFCUB and Chairma...
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  • Need to streamline co-op banks: RBI Guv

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    RBI governor Raghuram Rajan has called for streamlining of cooperative banks and providing basic facilities to micro, small and medium entrepreneurial groups in the country. The RBI governor was recently in Bhopal where he lauded Madhya Pradesh for recording maximum economic growth rate in the country. The apex bank governor said expansion in payment bank and mobile banking would bring about im...
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  • Saraswat Bank ties up with Future Generali

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    Future Generali India Life Insurance and Saraswat Bank, signed an agreement under which the latter will sell life insurance and other insurance products of the former in India, reports Hindu Business line. Saraswat Bank will offer FGILI’s customised solutions to customers through its network of over 250 branches across the country as well as through their digital platforms. Officials of bo...
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  • Sugar co-ops: Angry farmers; callous govt

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    Sugarcane farmers in Ganjam district in Odisha are in extreme anger as the state-run Aska Cooperative Sugar Industries is yet to clear dues to the tune of Rs 20 crore, reports TOI. Local farmers' leaders have threatened agitation if dues are not paid soon. Meanwhile, sources close to sugar industries are quoted claiming the dues would be cleared once 57,000 quintal of sugar worth around Rs 2...
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  • Rupee Bank: Pandit heads reconstituted Board

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    CA Sudhir Pandit, one of the Directors of Janata Sahkari Bank of Pune and an erstwhile member of the Board headed by Mukund Abhaynakar has taken over as the new Chairman of the reconstituted Board of ailing Rupee Bank. The other members of the board include Arvind Khaladkar, Vijay Bhave and Sadanand Joshi. Mukund Abhayankar had resigned earlier when the majority of Board members opposed the RBI...
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Cooperative Coffee Shop

  • 97th CAA : Is NDA delaying it deliberately!

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    Amidst charges of the NDA govt not being serious about the 97th CAA presently lost in the maze of cases in the Supreme Court, the apex body of cooperatives NCUI has decided to plunge headlong into the matter. The apex body is meeting lawyers, ministry officials and others for quick resolution to the legal tangle. Indian Cooperative talked to several cooperators who accuse the NDA government of ...
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  • Maha CHS : Tsunami of Election Disputes imminent

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    By I C Naik Post 97th Constitutional Amendment, the MCS Act 1960 confers power of fixing the strength of the Committee of cooperative societies by specifying the number in their registered Bye-Laws, within a ceiling of 21 and including 2 seats to represent women members and 3 seats to represent members of certain casts balance being general category [Sections 73AAA/73B and 73C]...
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  • Casual vacancies in MC of housing co-ops

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    By I C Naik Courtesy Shraddha B-and-C-CHS (Mumbai) (a querist CHS society 14th March 2016), I received an old Internal circular reference   J.C. SCEA/dept-10/Section 73 AAA (5)/vacancy/2015/7952. Dated 19/9/2015 translated by its member in English which was issued originally in Marathi language. This Circular clarifies the provisions (i) casual vacancies and (ii) vacancies...
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  • Issue of Special&Super Majority Resolutions

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    Section 72 of the MCS Act 1960 declares “Subject to the provisions in this Act and the rules, the final authority of every society shall vest in the general body of members in general meeting, summoned in such a manner as may be specified in the by-laws.”  This statutory declaration brings out critical requirement of members casting their votes on matters put up for their decision in general ...
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