The Federation of Multi-State Credit Societies has sought the intervention of Union Minister of State for Cooperation Murlidhar Mohol to resolve key regulatory and operational issues affecting the sector, particularly delays in granting permissions for new branches and the approval of a Self-Regulatory Organization (SRO).
A delegation led by Suresh Wable, Founding President of the Federation, submitted a memorandum to Mohol, urging the Ministry of Cooperation to expedite decisions on several long-pending issues faced by multi-state credit societies across the country.
The memorandum sought faster approvals for opening new branches, early recognition of an SRO for the sector, and removal of other regulatory bottlenecks that, according to the Federation, are hindering the growth and smooth functioning of multi-state credit societies.
The Federation also highlighted delays in the appointment of Sale Officers under Section 97 of the Multi-State Cooperative Societies Act, 2002, stating that prolonged pendency of applications has delayed recovery proceedings, weakened financial discipline, and adversely affected the liquidity of societies.
It urged the Ministry to ensure transparent and time-bound disposal of applications for the appointment of Sale Officers as well as approvals for new branches, stating that timely branch permissions would promote financial inclusion, business expansion, and employment generation.
The delegation included MLCs Pravin Darekar and Sanjay Bhende, Kakasaheb Koyate, Federation Directors Kadubhau Kale, Shivajirao Kapale, Jitendra Jain, Ravindra Kanade, and Sukumar Patil, besides senior legal experts S.S. Gadge, M.L. Chougule, and Shivajirao Dole.
The Federation expressed hope that the Ministry would act on its recommendations to strengthen the multi-state cooperative credit sector and improve the ease of doing business for cooperative institutions.
