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What is a co-operative society ?

  • A co-operative society is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.
  • A co-operative society is another means for forming a legal entity to conduct business besides forming a company. It pools together human resources in the spirit of self and mutual help with the object of providing services and support to members.
  • The Co-operative Principles under which a co-operative society operates and carries out its business are :-
    1. Voluntary and open membership.
    2. Democratic control, one member one vote.
    3. Autonomy and independence.
    4. Promoting economic activities.
    5. Promoting education and information technology.
    6. Co-operation among co-operatives.
    7. Concern for the social and ecological environment.