URBAN CO-OPERATIVE BANKS & CREDIT SOCIETIES (Non-Agriculture)
1) What are the norms for the registration of Non-Agricultural Credit Co-operative societies. ?
a. The persons who are interested to form Non-Agricultural Credit Co-operative societies should conduct a meeting. In that meeting the name of the society, area of operation and its objects and a minimum of 10 promoters should be choosen. Among them one person should be a chief promoter.
As per area of operation the following fees should be paid.
2) Which are the circulars to be followed while registering a Non-Agricultural Credit Co-operative Society ?
The following circulars to be followed:-
3) Which are the documents to be submitted for amendment of Bylaws of Urban Banks and Non-Agricultural Credit Co-operative Societies?
i. Notice of the Annual/Special General body meeting.
4) How the Cadre strength, Pay scales & allowances of Employees of Urban Co-operative Banks & Non Agricultural Credit Co-operative societies are approved?
Subject to the budget allotment sanctioned by the general body, the managing committee of the urban co-operative banks & Non agriculture credit co-operative Societies shall from time to time determine the strength of the establishment there of with reference to the financial position of the Co-operative Society, as per rule 17(1) of Karnataka co-operative societies Rules 1960.
5) What are the documents to be submitted for such approval?
a. Board Resolution.
6) How the employees of Urban Co-operative Banks & Non Agricultural Credit Co-operative societies are recruited?
Recruitment of employees of Urban Co-operative Banks & Non Agricultural Credit Co-operative societies are made in accordance with the provisions of Karnataka Co-operative Society Rules 1960 & directions issued by the government under section 30 (b)(1) of KCS Act vide No.CMW 15 CLM 2005 dated 3-2-2005 its amendments.
7) What is the procedure for opening branch of Non Agricultural Credit Co-operative societies?
The Non Agricultural Credit Co-operative societies have to submit the proposal to Registrar of Co-operative Societies along with the following documents.
8) How the one time settlement scheme is implemented in Urban Banks and Non-Agricultural Credit Co-operative Society?
One time settle is introduced as per RBI circular in order to reduce the quantum of Non Productive Assets, (NPA) concession is given in rate of interest of defaulted loans if the loans are settled in one installment. This benefit is sanctioned to the Non-Agricultural Credit Co-operative Societies also. Based on the cost of funds of the institution the proposals are verified and the permission is given to the Urban Banks and Non-Agricultural Credit Co-operative Societies.
9) What are the benefits given to Weavers/Fishermen in Urban Banks and Non-Agricultural Credit Co-operative Societies?
Urban Banks and Non-Agricultural Credit Co-operative Societies sanction loans for weaving/fishing purpose at 3% for the weavers/fisheries. For this loan government is providing subsidy at the rate of 9.5%. The claim bills submitted by the Urban Banks and Non-Agricultural Credit Co-operative Societies are scrutinized by district Deputy Registrars of Co-operative Societies & Deputy Directors of Co-operative audit are verified in this office and submitted to the government /Textile Development Commissioner for sanction.