In a significant move to promote the spirit of “Cooperation among Cooperatives,” the Office of the Registrar Cooperative Societies (RCS), Government of NCT of Delhi, has issued a circular directing all cooperative societies, including group housing societies, to open bank accounts and conduct their banking transactions, as far as possible, exclusively with Cooperative Banks or Urban Cooperative Banks operating in Delhi.
The directive, issued with the approval of the Registrar Cooperative Societies, is in line with the vision of the Government of India and the Minister of Social Welfare, SC/ST Corporation & Election.
The move is intended to strengthen the cooperative movement, enhance self-reliance among cooperatives, and ensure that the benefits of banking transactions flow within the cooperative ecosystem.
The circular emphasizes that this initiative will help channel financial activity through cooperative banks, thereby supporting their growth and sustainability.
All cooperative societies under the jurisdiction of the Registrar Cooperative Societies, GNCT of Delhi, have been asked to comply with this directive to the extent possible.
The step is seen as part of the broader campaign to empower cooperatives and align with the nationwide ‘Cooperation among Cooperatives’ initiative.
