Permanent Book and Registers of co operative Society

 Permanent Book and Registers of 

co operative society 

1. Admission register

2. Audit Certificate 

3. Day Book

4. General Ledger

5. Loan Register

6. Liability Register

7. Minute Book

8. Nomination Register

9. Reserve Fund Register

10. Register of members eligible to vote 

11. Registered byelaw

12. Registration Certificate

Important Acts in KCS Act

The Indian Contract Act                   -  1872 

The Indian Trust Act                         -  1882 

The Charitable Endorsement Act  -  1890 

Banking Regulation Act                   -  1949

Employee Provident Fund Act       -  1952

Kerala Money Lenders Act             -  1958

Payment of Bonus Act                     -  1965 

Payment of Gratuity Act                 -  1972

Consumer Protection Act               -  1986

All India Rural Credit Survey Committee ( AIRCSC )

• All India Rural Credit Survey Committee      ( AIRCSC ) appointed by Reserve Bank of India 

• AIRCSC appointed in the year 1951

• AIRCSC  submitted the report in 1954

• AIRCSC report known as the Magna Carta of  indian co operative movement 

• AIRCSC is known as Integrated scheme of rural credit 

• Members of AIRCSC were AD Gorwala, DR Gadgil, B Venkittappaih and NSR Sasthri

• Chairman of AIRCSC was A D Gorwala

• Member secretary of AIRCSC was NSR Sasthri 

• " Co operation failed but it must succeed " is coined by All India Rural Credit Survey Committee 

• The main recommendations of AIRCSC were; 

                 1 . Sbi formation 

                 2 . Crop loan system 

                 3 . Linking of credit with

                      marketing 

                4 . State partnership fund 

                5 . National warehousing board

                6 . Large sized co operatives 

                7 . Audit is necessary to co operative

                     societies 

                8 . AIRCSC recommended to create 

                     3 funds under Govt of India, 

                     they are; 

           a . National Co operative Development

                Fund 

           b . National Warehousing fund 

           c .  National Agriculture and credit 

                 fund

               9 . AIRCSC recommended to create 

                 two fund  under RBI

           a. National Agriculture Credit Fund 

               for long term operation 

          b. National Agriculture Credit 

               Stabilization Fund

      

• National Co operative Development Fund now administrated by NCDC 

• National Agriculture Credit Fund for      long term operation was created in 1958 

• National Agriculture and Credit Fund for long term operation is maintained by NABARD 

• National Agriculture and Credit Fund for long term operation is maintained for long term loan to co operatives and also for purchasing debentures of State CARD Bank 

• At present National Agriculture Credit  Fund known as National Rural Credit Stabilization Fund

• National Rural Credit Stabilization Fund is maintained by NABARD for giving short term loan and medium term loan to co operatives.