Multi-State Cooperative Societies (Amendment) Bill, 2022 gets Cabinet approval.

October 13, 2022

The Union Cabinet has approved the Multi-State Cooperative Societies (Amendment) Bill, 2022. It seeks to amend the Multi-State Cooperative Societies Act,
It will improve governance, enhance transparency and accountability in the Multi State Cooperative Societies.
Election authority will be set up to ensure fair, free and timely elections. The proposed amendments covering major areas of operation and management will go a long way in strengthening the co-operative movement in the country.
India has more than 1500 multi-State co-operative societies serving as an important tool to promote economic and social betterment of their members.
In order to make the governance of these multi-State Cooperative societies more democratic, transparent and accountable, provisions for setting up of the Cooperative Election Authority, Cooperative Information Officer and Cooperative Ombudsman have been proposed in the amendment.
Provisions relating to representation of women and Scheduled Caste and Scheduled Tribe members in the board of co-operative societies have been included to facilitate inclusiveness.
Co-opted directors with experience in the field of banking, management, cooperative management and finance will be appointed to promote professional management.
The amendment has also been proposed to enhance ease of doing business by reducing the period of registration with a provision for the applicants to seek additional time of two months for rectification of mistakes.
It also provides for electronic submission and issuance of documents.