Before starting off on Co-operative society in India, at first one should know what is a Co-operative Society i.e. the definition of it, how it came into existence.
A Co-operative society in India can be described as the association of persons coming together voluntarily for a specific purpose of the same territory. Therefore, voluntarily some like-minded persons form a society to fulfil their economic, social and cultural needs. It is an autonomous body and self-help organisation controlled by their members who actively participate in setting their principles and making decisions solely for the interest of the members of the society. To form a co-operative society there must be the consent of at least 10 members with equal voting rights or power.
The sole purpose of introducing the concept of co-operative society in India was to establish economic and social regeneration and welfare among the weaker and poorer section of the community across India including women empowerment. At times, there was a very adverse situation when rich were becoming richer and poor were becoming poorer. To eradicate exploitation of the weaker sections of the society especially farmers by the then hungry businessmen, The Government of India came up with The Indian Co-operative societies Act, 1912. After independence, different State Govt. adopted the original act and further reconstructed various acts and rules in conformity with the original Co-operative societies act according to the needs of their people.
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Before starting off on Co-operative society in India, at first one should know what is a Co-operative Society i.e. the definition of it, how it came into existence.
A Co-operative society in India can be described as the association of persons coming together voluntarily for a specific purpose of the same territory. Therefore, voluntarily some like-minded persons form a society to fulfil their economic, social and cultural needs. It is an autonomous body and self-help organisation controlled by their members who actively participate in setting their principles and making decisions solely for the interest of the members of the society. To form a co-operative society there must be the consent of at least 10 members with equal voting rights or power.
The sole purpose of introducing the concept of co-operative society in India was to establish economic and social regeneration and welfare among the weaker and poorer section of the community across India including women empowerment. At times, there was a very adverse situation when rich were becoming richer and poor were becoming poorer. To eradicate exploitation of the weaker sections of the society especially farmers by the then hungry businessmen, The Government of India came up with The Indian Co-operative societies Act, 1912. After independence, different State Govt. adopted the original act and further reconstructed various acts and rules in conformity with the original Co-operative societies act according to the needs of their people.
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