Constitutional Framework of Cooperatives in India

Cooperatives serve as a third alternative alongside free-market and state-owned organizations, providing a sustainable economic model and promoting equitable growth.

The lack of technology adoption has significantly contributed to the decline in the market share of cooperatives.

NABARD encouraged and supported the process of bringing Rural Cooperative Banks onto the Core Banking Solutions platform.

<p>The CGI aims to assess and improve governance standards in rural cooperative banks.</p> Signup and view all the answers

<p>BHIM UPI, AePS, and BBPS are three technologies adopted by Rural Cooperative Banks.</p> Signup and view all the answers

<p>Members' education is vital for raising awareness about cooperative principles, management, rights, and duties.</p> Signup and view all the answers

<p>The primary objective was to assess and identify 'Must-Have' and 'Good-to-Have' modules for CBS in Rural Cooperative Banks.</p> Signup and view all the answers

<p>Computerization is expected to digitize grassroots operations, improving transparency and efficiency.</p> Signup and view all the answers

<p>The educational system should incorporate modules on cooperatives in curricula to develop a trained future cadre.</p> Signup and view all the answers

<p>The upgrade was implemented across 16 states and 3 Union Territories.</p> Signup and view all the answers

<p>Entry 32 designates 'cooperative societies' as a state subject, allowing each state to legislate laws governing them.</p> Signup and view all the answers

<p>AePS stands for Aadhar Enabled Payment System, facilitating banking transactions through Aadhar authentication.</p> Signup and view all the answers

<p>Cooperatives face challenges such as declining market share and a lack of technological adoption.</p> Signup and view all the answers

<p>The all-inclusive cooperative model emphasizes sustainability, equitable growth, and participation in rural economies.</p> Signup and view all the answers

<p>The Multi-State Cooperative Societies Act, 2002 governs cooperative societies operating in more than one state or Union Territory, under the central government’s purview.</p> Signup and view all the answers

<p>CKYCR stands for Central ‘Know Your Customer’ Records Registry, crucial for better customer identification and compliance.</p> Signup and view all the answers

<p>The 97th Amendment grants citizens the fundamental right to form cooperative societies.</p> Signup and view all the answers

<p>The Positive Pay System enhances security by verifying cheque details before processing, reducing fraud.</p> Signup and view all the answers

<p>'Amrit Kaal' signifies a period of prosperity and development, where cooperatives can thrive as the backbone of the new Indian economy.</p> Signup and view all the answers

<p>The CBS upgrade involved State Cooperative Banks (StCBs) and District Central Cooperative Banks (DCCBs).</p> Signup and view all the answers

<p>Policy planners can enhance the cooperative sector by focusing on technology adoption, governance standards, and member education.</p> Signup and view all the answers

<p>They direct the state to promote the voluntary formation, autonomous functioning, and democratic control of cooperative societies.</p> Signup and view all the answers

<p>PFMS streamlines financial management and ensures transparency in fund flows for Rural Cooperative Banks.</p> Signup and view all the answers

<p>Cooperative banks are cooperative societies registered under state Cooperative Societies Acts or the Multi-State Cooperative Societies Act, 2002.</p> Signup and view all the answers

<p>Implementing the recommended CBS modules can lead to improved efficiency, better customer service, and increased financial inclusion.</p> Signup and view all the answers

<p>Cooperative societies are granted autonomy in their functioning and management, allowing them to operate independently within the law.</p> Signup and view all the answers

<p>It mandates the promotion of cooperative societies, including their democratic control and professional management.</p> Signup and view all the answers

<p>'Democratic control' ensures that all members have a voice in decision-making processes, promoting equality and participation.</p> Signup and view all the answers

<p>40%</p> Signup and view all the answers

<p>At least 20%</p> Signup and view all the answers

<p>To free dairy farmers from exploitation by intermediaries.</p> Signup and view all the answers

<p>It led to greater coordination and oversight of credit activities of cooperatives by the RBI.</p> Signup and view all the answers

<p>Regional Cooperative Banks</p> Signup and view all the answers

<p>The Agricultural Refinance Corporation, later renamed the Agriculture Refinance and Development Corporation.</p> Signup and view all the answers

<p>11%</p> Signup and view all the answers

<p>To promote production, processing, marketing, storage, export, and import of agricultural produce based on cooperative principles.</p> Signup and view all the answers

<p>It signifies a period of prosperity and growth.</p> Signup and view all the answers

<p>The Anand model of integrated cooperative structure of dairy farmers.</p> Signup and view all the answers

<p>Indian Farmers Fertiliser Cooperative Limited</p> Signup and view all the answers

<p>Primary Agricultural Credit Society</p> Signup and view all the answers

<p>It provides data on cooperatives in India.</p> Signup and view all the answers

<p>Equitable growth in agriculture</p> Signup and view all the answers

<p>Farmers’ Service Society</p> Signup and view all the answers