Janarthanan Narayanan

Respected Sir,

Please clarify whether there is any difference in Multi state credit Cooperative Society and Multi state Cooperative Credit Society. We want to have the Operational guide lines for Multi state cooperative credit Society. Please provide the same.

I C Naik

No difference what so ever. Multi State Cooperative Credit Society Limited is a correct way of naming a Credit Society having operations in more than one State.

Hemlata Khot

What if a person dies without completing the bank formalities? Is it necessary to parade all heirs before branch manager of the Cooperative Bank and sign forms even on the presentation of property rights by the elder son to transfer fund in his account.

I C Naik

Property and interest is passed on to registered nominee on member’s death.The Bank should not insist on production of proof of a legal owner.

Ownership rights as per law are to be acquired through Court if Nominee is suspected to be not a legal heir; Cooperative Bank is also governed by the Cooperative Societies Act of the State.

Ravi Sabharwal

I want to know that what is the sale of fertilizer (NPK) through cooperatives in Punjab.

I C Naik

You may resort to RTI to have this factual information. The Secretary Agriculture Ministry Punjab State may be the PIO for this purpose.