Question

The rule of KCS Act that deals with Reserve Fund ?

• A. Rule 34(2)
• B. Rule 47(3)
• C. Rule 53(1)
• D. Rule 60(5)

Answer 1

Answer:

C. Rule 53(1)

Statutory Reserve

• Reserve Fund - Sec 56(1) A / Rule 53(1)

• Cooperative Education Fund - Sec 56(1) B / Rule 53 (2)

• Cooperative Member relief fund - Sec 56 (1)c / Rule 53 A

Non Statutory Reserve

• Sec 56 (2) A - Dividend 

• See 56 (2) B - Bonus 

• Sec 56 (2) C - Agricultural Credit Stabilisation Fund 

• Sec 56 (2) D - Common Good Fund