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Govt amends Multi State Cooperative Societies Act to bring in transparency

Credit cooperatives constitute the bulk of the MSCS (610), followed by agriculture-oriented MSCS (244)

Transparency
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It also provides for electronic submission and issuance of documents, thus providing for a comprehensive digital ecosystem

Sanjeeb Mukherjee New Delhi
More than a year after a cooperatives ministry was formed with Home Minister Amit Shah as its head, the Cabinet on Wednesday approved extensive amendments to the Multi State Cooperative Societies Act (MSCS). The Act was last amended in 2002.

The amendments make the functioning of the board of such cooperatives transparent — registration becomes simpler and seats can be reserved for women, scheduled caste and scheduled tribe candidates in coop boards. Also, a Cooperative Election Authority can be formed to conduct free, fair and timely elections to coops.

India, at present, has nearly 800,000 cooperative societies of which around

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First Published: Oct 12 2022 | 8:16 PM IST

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