The Karnataka Souharda Cooperative (Amendment) Bill, 2025, initially rejected in the Legislative Council, was cleared on Friday, averting further embarrassment for the Congress government.
The BJP and JD(S) had opposed provisions mandating a 20% statutory liquidity ratio for cooperative societies and designating them as statutory liquid assets.
After being re-approved by the Legislative Assembly on Thursday, the Bill was reintroduced in the Council by Law and Parliamentary Affairs Minister H.K. Patil. Council Chairman Basavaraj Horatti announced its acceptance, marking a turnaround after Wednesday’s setback.
