Maharashtra Initiates Overhaul in Cooperative Society Regulations
Maharashtra's Chief Minister, Devendra Fadnavis, announced initiatives to reform the Cooperative Societies Act. A committee will suggest changes, and cooperative banks may manage government accounts. Fadnavis emphasized enhancing cooperative housing societies, with potential NCDC backing, drawing praise from the World Bank for the state's cooperative model.
- Country:
- India
Maharashtra's Chief Minister, Devendra Fadnavis, revealed plans on Monday for a committee to propose amendments to the Cooperative Societies Act. Additionally, efforts are underway to reinforce cooperative institutions' effectiveness.
Fadnavis highlighted the state's intention to evaluate prospects for well-performing cooperative banks to handle government accounts.
Addressing a public gathering, he detailed efforts to update the Cooperative Societies Act and announced support measures for self-redevelopment projects in housing, involving potential NCDC funding at reduced rates.
(With inputs from agencies.)
Advertisement
Google News