Regulatory changes for cooperative societies in progress

Regulatory changes for cooperative societies in progress

New Delhi, 1 Dec. (KNN) Union Cooperation Minister Amit Shah, in his written response to Lok Sabha on Tuesday, said that a proposal to amend the 2002 Multi-State Cooperative Societies Act is being processed, which create an effective regulatory mechanism.

He said he will also focus on protecting depositors and shareholders by holding management accountable to members of corporations, and keeping lawmakers abreast of economic policies.

Last week in November, during the inauguration of a milk powder factory and other projects of the Gujarat Cooperative Milk Marketing Federation (GCMMF), Union Minister Shah said that the cooperative model is the optimal model for the development of India.

He called the Amul model the most effective model for empowering women and recommended that NGOs aim to run women’s cooperative societies to empower rural women.

The Ministry of Cooperatives was formed 4 months ago on July 6, 2021, appointing Union Minister Amit Shah as prime minister.

Virginia S. Braud