The Tribune reports the Punjab government has directed the Registrar, Cooperative Societies, to get an audit of all finances and assets of 19,000 cooperative societies in the state.
There are allegations that some of these societies are extending loans to non-members without seeking the approval of the Registrar
There are also reports that members are not repaying their term loans on time
It is said that at least 50 per cent of societies run into losses due to these reasons.
Please someone check on with credit societies of Maharashtra . . Sanghli Vaibhav cooperative credit society Vashi branch and Vasant Raje credit society Vashi branch both have cheated us