Question

What defines Youth Cooperative Societies under Sec 2(v)?

• A. Societies promoting old age welfare
• B. Societies promoting entrepreneurship, new technology, startups with welfare of youth within one district
• C. Agricultural credit societies
• D. Only primary credit societies

Answer 1

Answer:

B. Societies promoting entrepreneurship, new technology, startups with welfare of youth within one district

KCS ACT 1969

New Sec- 2(dc) Consortium

• Mean a formal association of cooperative societies formed based on a common objective for establishing a new entity for raising funds for providing financial assistance for public purpose with the approval of state government

Sec 2 (ib) Federal Cooperative Society

• Means a society having more than one district as its area operation and having the state Government, individual and other cooperative societies as its members but

• Number of individual members in the society shall not exceed 25% of the total membership in the society. (old sec 28( ib) - now in sec 2 (ib).

• Provided that number of individual members shall not be applicable to societies which are in existence before the commencement of the KCS Amend ACT 2023

Sec 2 (oaa) PACS

• Sec 2 (oaa)- Means a cooperative society, a service cooperative society, a service cooperative bank, a farmers service cooperative banks or a rural bank having its area of operation confined to a village panchayath, municipality and the primary object or principal business of which is to provide financial accommodation to its members for agriculture purposes or allied agricultural activities the rate of interest on such loans and advances and the area of operation shall be fixed by Registrar.

Sec 2(ob) Primary Credit Society

• Primary Credit Society- Means a cooperative society other than PACS(old other than Apex and Central Society) the primary object or principal business of which is to accept deposit from its members for the purpose of lending to its members or investments and byelaw of which do not permit admission of any other cooperative society as its members.

Sec 2 (od) Primary Co-operative Society

• Means a society having jurisdiction over any specified area in one revenue district or more than one district in the state and having individuals, other societies (old- over a revenue district as a whole or over any specified area within such revenue district) state govt, and local self govt as its members

Sec 2(p) Registrar

• It means the registrar of cooperative society as appointed under sec 3(1) and include any other officer (old-any persons) of the state government on whom all or any of the powers of the registrar under this act are conferred

Sec 2 (ra)- KSCARDB

• Means an Apex Society having only primary cooperative Agricultural Rural development bank as its members and functioning in accordance with the provisions contained in the KSCARDB ACT 1984

• Change Name SCARDB to KSCARDB

New Sec 2 (qba)- Social Cooperative Society

• Means primary cooperative societies formed for the welfare of social classes like differently abled persons, aged persons, transgenders, depressed persons or mentally challenged persons.

New Sec 2 (v) -Youth Cooperative Cooperative Society

• Means cooperative societies which are registered to promote entrepreneurship, new technology, innovation and starts up with the objective to generate employment and income and the welfare of youth and having its area of operation within one district.