India is celebrating centenary celebration of Cooperative Law. The first Cooperative Law of India The Cooperative Credit Societies Act, 1904 was passed on 25th March 1904. Agricultural Credit Cooperative Society, of Kanaginahal village of Gadag District in Karnataka was the first cooperative Society formed under First Cooperative law of India.Read More...
The earliest co-operatives were set-up among the weavers, in other words workers in cottage industries, who were the first and the hardest hit by the development of the mercantile economy and the industrial revolution.
The members comprise of two categories:
The Cooperatives registered under Karnataka Cooperative Societies Act, 1959 can themselves convert to KSS Act if they do not have Government share capital, loan, subsidy and any type of assistance.
Self Help Cooperatives - Micro Credit to MicroBanking
Many NGO's who themselves engaged in promoting self help Groups are exploring KSS Act to institutionalize the SHG's. A new kind of cooperatives Self Help Cooperatives have been established in many places. Self help groups organized under SASHAKTI project of Karnataka State Women’s' Development s and funded by World Bank have been institutionalized under Karnataka Souharda Sahakari Act. 52 self help cooperatives registered in 7 districts.
The basic guidelines for the formation of Co-operatives under Karnataka Souharda Sahakri Act, 1997 are as follows:
- Coop Movement
- Souharda Act
- Souharda Court