I Am Manu K Sankar from Kerala , an MBA Holder – having 12 years experience in HR and marketing. Currently doing my own business.
Am thinking about to start a cooperative bank in my village area. I thought it will be helpful to my villagers also to meet their time;y requirement for money. Most of our villagers are farmers or govt. employees. I required guidance for the below points.
1, Is it possible to register a bank as cooperative society with sahakar bharathi .
2, If so whether I should take any sanction / registration , audit activity with state govt. to conduct banking activity.
3, What are benefits to register this cooperative society with Sahakar Bharathi.
4, What is the process to register the same with Sahakar Bharathi.
5, Is any annual audit is there from sahakar Bharathi, if so what is the procedure done by us.
Expecting your favorable reply in this regard.
I C Naik
Two important points
Feasibility of the Bank has to be convinced by preparing the detailed projections and present it to the Dy Registrar of your Ward. If he is satisfied that your Coop Soc can be viable as a Bank then register it as a Society. After Registration Banking Licence to be obtained from Rererve Bank. That could be far more unnerving. But best of luck.
