Podcast
Questions and Answers
What is the maximum share capital that an individual member can hold in a society with limited liability?
What is the maximum share capital that an individual member can hold in a society with limited liability?
- Rs 5,000
- 25% of total capital
- One-fifth of total capital (correct)
- Unlimited
Under what condition can a registered society lend money to another registered society?
Under what condition can a registered society lend money to another registered society?
- Without any restrictions
- With approval from the majority of members
- With the permission of the Registrar (correct)
- Only if it is a cooperative society
What should be the last word in the name of a society registered with limited liability?
What should be the last word in the name of a society registered with limited liability?
- Company
- Limited (correct)
- Society
- Association
What type of liability does a society composed mostly of agriculturists have if it is not a registered society?
What type of liability does a society composed mostly of agriculturists have if it is not a registered society?
What is the role of the Registrar in the dissolution of a society?
What is the role of the Registrar in the dissolution of a society?
Which of the following is NOT a right of a registered cooperative society?
Which of the following is NOT a right of a registered cooperative society?
When does the order of dissolution of a society become effective if no appeal is filed?
When does the order of dissolution of a society become effective if no appeal is filed?
What restriction applies to a member of a limited liability society regarding the interest in shares?
What restriction applies to a member of a limited liability society regarding the interest in shares?
What is the main objective of a co-operative society?
What is the main objective of a co-operative society?
How many members are required to form a co-operative society?
How many members are required to form a co-operative society?
What was the total purchase/production and sales value in 2003-04?
What was the total purchase/production and sales value in 2003-04?
What is the nature of the Co-operative Societies Act, 1912?
What is the nature of the Co-operative Societies Act, 1912?
Under what condition can a society that aims to lend funds to members not require all members to reside in the same area?
Under what condition can a society that aims to lend funds to members not require all members to reside in the same area?
Which two states accounted for almost 50% of credit societies in 2008?
Which two states accounted for almost 50% of credit societies in 2008?
What does Table 44.1 specifically present?
What does Table 44.1 specifically present?
What type of society is required to have unlimited liability?
What type of society is required to have unlimited liability?
What can an unlimited society do with profits, according to the Act?
What can an unlimited society do with profits, according to the Act?
How many tables are referenced in the content?
How many tables are referenced in the content?
What type of banks does Table 44.6 focus on?
What type of banks does Table 44.6 focus on?
What should be common among members to form a co-operative society focused on lending funds?
What should be common among members to form a co-operative society focused on lending funds?
What is a key principle that co-operative societies operate on?
What is a key principle that co-operative societies operate on?
Which table presents information about Primary Non-Agricultural Credit Societies?
Which table presents information about Primary Non-Agricultural Credit Societies?
What was the purchase/production value in 2000-01?
What was the purchase/production value in 2000-01?
Which table contains data on Grain Banks?
Which table contains data on Grain Banks?
What was the total working capital of Primary Non-Agricultural Credit Societies in 2003-04?
What was the total working capital of Primary Non-Agricultural Credit Societies in 2003-04?
How much did the loans issued by Primary Non-Agricultural Credit Societies increase from 2000-01 to 2003-04?
How much did the loans issued by Primary Non-Agricultural Credit Societies increase from 2000-01 to 2003-04?
What happened to the membership of Primary Non-Agricultural Credit Societies from 2000-01 to 2003-04?
What happened to the membership of Primary Non-Agricultural Credit Societies from 2000-01 to 2003-04?
What was the total working capital of Grain Banks in 2003-04?
What was the total working capital of Grain Banks in 2003-04?
What is the extent of liability for members of a co-operative society?
What is the extent of liability for members of a co-operative society?
How did the number of Primary Non-Agricultural Co-operative Banks change from 2000-01 to 2003-04?
How did the number of Primary Non-Agricultural Co-operative Banks change from 2000-01 to 2003-04?
What was the change in total working capital of State Co-operative Agricultural & Rural Development Banks from 2000-01 to 2003-04?
What was the change in total working capital of State Co-operative Agricultural & Rural Development Banks from 2000-01 to 2003-04?
How does a co-operative society help to eliminate middlemen's profit?
How does a co-operative society help to eliminate middlemen's profit?
What trend was observed in the membership of State Co-operative Agricultural & Rural Development Banks from 2000-01 to 2003-04?
What trend was observed in the membership of State Co-operative Agricultural & Rural Development Banks from 2000-01 to 2003-04?
Which statement is true about the stability of co-operative societies?
Which statement is true about the stability of co-operative societies?
What type of assistance is provided by both Central and State governments to co-operative societies?
What type of assistance is provided by both Central and State governments to co-operative societies?
What was the total working capital of Primary Co-operative Agricultural & Rural Development Banks in 2003-04?
What was the total working capital of Primary Co-operative Agricultural & Rural Development Banks in 2003-04?
What trend was observed in the membership of credit societies from 2000-01 to 2003-04?
What trend was observed in the membership of credit societies from 2000-01 to 2003-04?
What was the trend for the total working capital of State Co-operative Banks between 2000-01 and 2003-04?
What was the trend for the total working capital of State Co-operative Banks between 2000-01 and 2003-04?
What specific change was noted regarding Primary Agricultural Credit Societies from 2000-01 to 2003-04?
What specific change was noted regarding Primary Agricultural Credit Societies from 2000-01 to 2003-04?
Which of the following is NOT a characteristic of co-operative societies?
Which of the following is NOT a characteristic of co-operative societies?
Study Notes
Working Capital and Loans Data
- Total working capital of societies rose from ₹419.13 billion (2000-01) to ₹561.11 billion (2003-04).
- Loans issued increased from ₹230.82 billion in 2000-01 to ₹322.89 billion in 2003-04.
- Working capital for Primary Non-Agricultural Credit Societies grew from ₹193.49 billion to ₹327.68 billion in the same period.
- Loans for Primary Non-Agricultural Credit Societies spiked from ₹120.69 billion to ₹201.96 billion between 2000-01 and 2003-04.
Membership Trends in Credit Societies
- Number of Primary Non-Agricultural Credit Societies fell from 0.45 lakh to 0.40 lakh in the same period, but membership increased from 184.86 lakh to 193.88 lakh.
- Membership for Primary Non-Agricultural Co-operative Banks declined from 190.02 lakh to 146.99 lakh.
- Number of Primary Co-operative Agricultural & Rural Development Banks decreased from 754 to 729 while membership grew modestly from 72.69 lakh to 73.34 lakh.
Financial Health of Societies
- Total working capital of Grain Banks increased from ₹296.81 lakh to ₹390.13 lakh despite a decrease in loans from ₹73.52 lakh to ₹59.10 lakh.
- Working capital of State Co-operative Agricultural & Rural Development Banks improved from ₹172.81 billion to ₹221.70 billion, even as loans dropped from ₹25.79 billion to ₹19.12 billion.
Co-operative Societies Overview
- Co-operative societies facilitate mutual economic interests with aims to serve poorer sections through self and mutual help.
- Formation requires at least ten members over 18 with common economic objectives.
- Co-operative Societies Act, 1912 provides the legal framework, though many states have their own regulations.
Legal and Operational Characteristics
- Co-operative societies can have limited or unlimited liability based on objectives and member composition.
- Registered societies can operate with limited liability, providing members legal protection from personal liability for business debts.
- Loans can only be issued to members, restricting external financial engagements without special permissions.
Market Impact and Stability
- Co-operatives eliminate the profit of middlemen through direct control over their supplies.
- Central and State governments provide support in forms of loans, capital contributions, and tax exemptions.
- Co-operative societies maintain stability and longevity regardless of changes in membership.
Recent Developments (2000-04)
- Total credit societies decreased from 1.43 lakh to 1.21 lakh, with membership falling from 15.29 crore to 13.95 crore.
- Non-credit societies dropped from 4.08 lakh to 2.67 lakh, and membership decreased from 6.61 crore to 5.14 crore.
- State Co-operative Banks saw an increase in working capital from ₹494.10 billion to ₹608.72 billion despite a decline in loans from ₹304.16 billion to ₹289.62 billion.
- Central Co-operative Banks' working capital rose significantly from ₹911.78 billion to ₹1169.31 billion alongside an increase in loans from ₹609.21 billion to ₹624.01 billion.
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Description
This quiz covers the financial changes in Primary Non-Agricultural Credit Societies between 2000 and 2004. It addresses aspects such as working capital, loans issued, and membership statistics. Test your understanding of these economic trends and statistical data.