The Office of the Central Registrar of Cooperative Societies (CRCS) has initiated a major verification drive to ascertain whether Multi-State Cooperative Societies (MSCSs) have actually deposited their mandatory contributions to the Cooperative Education Fund (CEF).
The move follows discrepancies detected between the contributions reported by societies in their Annual Returns and the payment records available with the Ministry of Cooperation.
In three separate communications issued on Thursday, the CRCS directed the Chief Executive Officers and Managing Directors of the concerned societies to verify their Cooperative Education Fund contributions for the financial years 2022-23, 2023-24 and 2024-25. The exercise covers a total of 790 Multi-State Cooperative Societies, including 191 societies for 2022-23, 151 societies for 2023-24 and 448 societies for 2024-25.
According to the communications, these societies had declared in their Annual Returns that they had deposited the prescribed contribution to the Cooperative Education Fund based on the profits earned during the relevant financial year. However, scrutiny of records maintained by the Office of the Central Registrar, along with available bank statements, did not reflect receipt of the claimed contributions in several cases, prompting the verification exercise.
To establish compliance, the CRCS has directed all concerned societies to upload documentary proof of payment within seven days through the Cooperative Education Fund contribution window available on the CRCS online portal. The documents to be submitted include bank transaction details, UTR number, challan or receipt, along with a certified copy of the relevant bank statement clearly indicating the transfer of funds.
The Ministry has further clarified that if any society has not yet deposited its statutory contribution, it must immediately remit the prescribed amount to the Cooperative Education Fund and upload the payment details and supporting documents within the stipulated time.
The communications also contain a clear warning that failure to submit proof of payment or deposit the outstanding contribution within the prescribed period will attract appropriate action under the provisions of the Multi-State Cooperative Societies Act, 2002 (as amended), and the rules framed thereunder. The CRCS has stated that responsibility for any resulting consequences will rest entirely with the defaulting society.
The verification drive, spanning three financial years and covering 790 multi-state cooperative banks and credit societies, reflects the Ministry of Cooperation’s continued emphasis on strengthening statutory compliance, improving transparency, ensuring financial accountability and maintaining accurate regulatory records across the multi-state cooperative sector.
