Regulations of loans to be granted by credit co-operative societies by Maharashtra Government. (Business Opportunities - Home Business)
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Item ID 2530849 in Category: Business Opportunities - Home Business
Regulations of loans to be granted by credit co-operative societies by Maharashtra Government. | |
Co-operative credit societies are credit institutions characterized by member ownership and control. It registered with the primary goal of societal progress, they emphasize providing accessible credit at fair interest rates. The purpose of the co-operative credit society is to deposit procurements from its members. Designed to provide financial assistance to their members. It helps to minimize additional expenses associated with intermediaries in business. Benefits from loans with favourable interest rates. Registration in these societies brings numerous advantages and financial security. Credit co-operative societies are open to anyone to join without any membership. These societies are aided by the state and the national government and are found in both rural and urban areas. The rules of co-operative societies are: Regulation of loans to be granted by societies: In case of the grant of loans against security of moveable or immovable property, the lending society shall maintain such margin as the Registrar may, with the approval of the Apex Bank, by general or special order, direct from time to time with reference to different commodities, securities, or classes of societies. (1) In the case of cash credit, the amount of the loan shall not exceed such a multiple of the owned funds of the borrowing society as may be laid down by the registrar with the approval of the concerned financing agency from time to time. (2) It shall be lawful for a society to grant loans without taking security of moveable or immovable property if the purpose for which the loan is given is considered production-worthy or creditworthy and it is reasonably expected that the loans will be repaid by the loanee. The Registrar may, with the approval of the Apex Bank, issue directions to societies to ensure that creditworthy purposes indicated above receive finance from the societies without any difficulties on the one hand and without being detrimental to the financial interests of the societies on the other. (3) The Registrar may recognize a central bank as the central financing agency, which shall be primarily responsible for financing credit requirements for all creditworthy purposes through the concerned societies in its jurisdiction. On such recognition, such bank shall be responsible for making all possible efforts to mobilize local resources to make loans available to the societies in its area. Such loans may be granted for creditworthy purposes, giving due importance to the requirements of various states of the producers and cooperative societies with reference to the linking up of credit with cooperative processing or cooperative marketing. Also, ShreeCom Infotech competency lies in offering Co-Op Credit Society Software, Pat Sanstha Software, Pat pedhi software, Retail banking software, Employees Co-Op Credit Society Software, Salary Earners Society Software, Multi State Co-Op Credit Society Software, Banking Software, Core Banking Software. SHREECOM info tech is developed such type of software which is useful for co-operative Credit Society, employee’s co-operative, pat Sanstha, and banks to make all government compliance. | |
| Target State: All States Target City : All Cities Last Update : Feb 07, 2024 5:57 AM Number of Views: 38 | Item Owner : Shreecom infotech Contact Email: (None) Contact Phone: (None) |
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2024-05-01 (0.389 sec)