The Federation of Multi-State Cooperative Credit Societies Limited organized a one-day workshop on Friday in Kolhapur to deliberate on key issues, regulatory challenges, and governance aspects concerning multi-state cooperative credit institutions.
Mrs. Monika Khanna, Joint Registrar, Central Registrar of Cooperative Societies (CRCS), Ministry of Cooperation, Government of India, attended the programme as the chief guest.
In her address, she apprised the participants of the prudential norms applicable to multi-state cooperative credit societies and emphasized the need for strict regulatory compliance to protect public funds and maintain financial discipline.
She stated that several operational and regulatory challenges faced by multi-state cooperative societies are currently under active consideration of the Central Ministry of Cooperation. To ensure faster resolution of these issues and improved coordination with cooperative institutions, she informed that the Ministry is planning to commence the functioning of its Pune office at the earliest.
During the interactive session, delegates raised serious concerns regarding some multi-state cooperative societies opening branches without requisite approvals and engaging in practices that could potentially endanger public money.
Participants also highlighted issues related to societies registered under the Souharda Cooperative Act that were later upgraded to multi-state cooperative status, despite pending disputes or unresolved cases under their earlier registration. The delegates sought clarity on the handling of such legacy issues after conversion to multi-state status.
Additionally, concerns were raised regarding election-related expenses in multi-state cooperative societies, including the requirement to bear costs even in cases where elections were held unanimously, prompting requests for a review of the existing provisions.
Dr. Mahesh Kadam, Divisional Joint Registrar of Cooperative Societies, Kolhapur Division, and Mr. Ravindra Patil, Joint Registrar of Cooperative Societies, Belagavi Division, Karnataka, attended the workshop as special invitees. Dr. Sanjay Hosamath, Vice President of the Karnataka State Cooperative Credit Societies Federation Limited, Bengaluru, also addressed the gathering.
Speaking on the occasion, Dr. Mahesh Kadam emphasized that multi-state cooperative institutions are autonomous bodies and must strengthen their internal governance systems, compliance culture, and operational discipline. He noted that while regulatory oversight is necessary, unwarranted interference in the day-to-day functioning of efficiently managed societies should be avoided.
Ravindra Patil highlighted the significant role of cooperative institutions in providing financial assistance to the common people, particularly at the grassroots level, and their contribution to inclusive and sustainable economic development.
The programme was presided over by Suresh Wable, Founder President and Vice Chairman of the Federation of Multi-State Cooperative Credit Societies Limited. In his presidential address, he stressed the importance of continuous coordination between regulatory authorities and cooperative institutions to promote transparency, good governance, and long-term stability in the sector.
Addressing the participants, Dr. Sanjay Hosamath remarked that the cooperative movement is not merely about running a business but about serving people, especially the last person in society who needs access to financial services. He described the cooperative sector as an “ocean of opportunities,” stating that there is vast potential for service-oriented growth and innovation within the sector.
The workshop witnessed the participation of representatives from 49 multi-state cooperative societies from Maharashtra and Karnataka, with more than 150 delegates in attendance. Senior cooperative leaders and experts shared insights on regulatory compliance, governance reforms, and emerging opportunities in the multi-state cooperative credit sector.