Context (PIB): Policy reforms emphasize the role of cooperatives in India’s socio-economic growth. What are Cooperatives? Cooperatives are voluntary, democratic, and autonomous organisations controlled by their members. Multi-state co-operative societies (MSCS) operate in more than one state in various sectors such as agriculture, textile, poultry, and marketing. States regulate state cooperative societies ’ incorporation, regulation, and winding up. Parliament can legislate on matters ... The Central Registrar of Cooperative Societies is appointed as per article 243ZH (f) of the Constitution read with subsection (1) of section (4) of Multi-State Co - operative Societies Act 2002 and is the statutory body responsible for registration and other processes of the Multi State Cooperative Societies (MSCS). The cooperative movement in India plays a crucial role in the agricultural sector, banking and housing. The history of cooperatives in India is more than a hundred years old. Cooperatives developed very rapidly after Indian independence. According to an estimate, more than half a million cooperative societies are active in the country. Many cooperative societies , particularly in rural areas, increase political participation and are used as a stepping stone by aspiring politicians. There are different types of business organisations, one such form is of cooperative society . Cooperative societies are formed with the aim of helping their members. This type of business organisation is formed mainly by weaker sections of the society in order to prevent any type of exploitation from the economically stronger sections of the society . Cooperative societies need to be registered under the Cooperative Societies Act, 1912 in order to function as a legal entity. Members of the ...
