Norms for setting up multipurpose village service cooperative societies relaxed: Minister

Jaipur, Mar 5 (PTI) Minister of State for Cooperatives Gautam Kumar Dak on Wednesday said that the norms for setting up multipurpose village service cooperative societies in Rajasthan have been relaxed.

Dak said in a statement that for setting up a new multipurpose village service cooperative society in the state, the minimum number of members will now be 150 instead of 300 and the minimum share amount will be Rs 1.50 lakh instead of Rs 3 lakh.

He said that according to the new norms, now the minimum security deposit from members in general areas will be Rs 75,000 instead of Rs 1 lakh and in scheduled tribe areas the security deposit will be Rs 50,000 instead of Rs 75,000. The remaining conditions for the formation of the society will remain the same.

According to the statement, in view of the role of village service cooperative societies in providing support to the farmers, the state government has announced the formation of village service cooperative societies in the remaining more than 2,500 gram panchayat headquarters in the next 2 years in the budget year 2025-26. Along with this, it has also been announced that relaxation will be given as per the requirement in the criteria for their formation.

In compliance with the budget announcement, the cooperative department has set new parameters. He said that the formation of a large number of village service cooperative societies in the state will strengthen the cooperative network in the state. PTI AG MR

Source: PTI