Cooperatives

Q.  Which of the following is/are true regarding Cooperative Societies?

1) In case of cooperative banks, other than multi-state cooperative banks board shall be superseded or kept under suspension for a period exceeding six months.
2) The state legislature may provide for access to every member of a co-operative society to the information, accounts, etc. of the co-operative society.
- Published on 13 Jul 16

a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2

ANSWER: Only 2
 
  • In case of cooperative banks, other than multi-state cooperative banks, this period cannot exceed one year.
  • The state legislature may make provisions to ensure the participation of members in the management of the cooperative society.
  • Further, it may provide for co-operative education and training for its members.

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