According to the International Labour Organisation, Cooperative is defined as an "autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically controlled enterprise."
Cooperative societies are not restricted to agriculture alone. In banking and finance, cooperative institutions are spread across rural and urban areas as credit societies.
Reforms in Cooperative Societies
Several reforms have been undertaken in cooperative sector like-
A. Creation of a new Ministry of Co-operation
B. Amendment tothe Multi-State Cooperative Societies (MSCS) Act, 2002
C. Cooperative Banks have been brought under RBI Purview
A. New Ministry of Co-operation
On 6th ....
