9870310368 9958944009

Credit Co-operative society

Package Inclusions
  • Noc by Client 
  • 100% Accurate buy-laws.
  • On Call free advisory.
  • Application drafting 
  • End to end follow-ups
  • Register Credit Co-operative Society Now
Request a call back

 

 

 

What is a Multi-State Co-operative Society?

Multi-state co-operative societies are required to be registered under Multi State Cooperative Societies ACT, 2002. With objects of the society must be for serving the interests of members in more than one State. Multi-sate co-operative societies are formed by the group of individuals to promote their economic and social betterment and to provide functional autonomy.

What are the Types of a Multi-State Co-operative Society?

  • Credit co-operative society.
  • Housing co-operative society.
  • Agriculture co-operative society.
  • Marketing co-operative society.

How to Register a Multi State Credit Co-operative Society?

  • Model Bye-Laws (four copies).
  • Intensive inquiry letters for NOC.
  • List of Promoter members.
  • Min 7 board members and maximum 21 board members.
  • Minimum 50 members from each state at least two states.
  • Copy of pre-registration meetings resolution (about board, Capital, members, operations, i.e.).
  • Proposed name of your multi-state cooperative society.
  • Head office address to be registered.
  • A certificate from the Bank stating the credit balance in favor of the proposed multi-state credit co-operative society.
  • A detailed plan that how credit co-operative society will be beneficial for the social and economic betterment of its members and community as a whole.

Can We Raise Fund in a Multi-State Credit Co-operative Society?

  • A Multi-sate co-operative society can accept deposits not more than the ten times of the paid up share capital and net reserves in a financial year.
  • A multi-State co-operative society can issue non-convertible debentures to the extent of twenty-five per cent of its paid-up share capital.
  • A raise fund thru allotment of equity shares.
Compare your Options
All Features
Multi-state Credit society
NBFC-ND
Nidhi Company
Governing Laws
MSCS Act. 2002
RBI Act. 1934
Companies Act. 2013
Recommended for
Non-Commercial Banking and NPO.
Commercial Banking Business
Member based Mutual benefit society
Initial Capital
For General credit Rs. 2 Lakh and for Urban bank Rs. 4 Crore.
Minimum Rs. 2 Crore
Rs. 10 Lakh
Loan Limit
 
 
 
Members
Min 50 from at least 2 state. In total 100
7/2
7 at the time of registration and after registration min 200.
Directors
7
3/2
3
Operations
In a District or state
PAN India
PAN India
Credibility
6/10
10/10
8/10
Registration time
Maximum 120 Working days
Maximum 90 Working days
Maximum 20 Working days
Registering Authority
State Government and Central Govt.
ROC & RBI
Registrar of Companies
Popular
Low
High
Medium
Deposits
Yes. freely from public with certain limitation
 
 
Loan
To Everyone
To Everyone
To Members only
Funding
From Members and Public
From Members and FDI
From Members only
Government aid
Low
 
 
RBI License
 
 
 
RBI Act
Yes. In case of urban Bank
 
RBI Can Pass order as when required.

 

 

 

Share With
Why Enterslice?
Asia Winner
Top 100 Most Innovative Companies in Asia - Red Herring
Top 25 Consultants
Forbes 30 Under 30 in American business and industry figures Lists.
100%
Success Rate. Your Order Comes with Money Back Guarantee
300+
Services delivered by 300+ Qualified CA and CS
Latest Post
Requirements For Forming a State Co-Operative Society
A state Co-operative Society is defined as an association of persons who united voluntarily to meet their common economic needs and aspirations as specifie...
Read more
Co-operative Bank License in India
Co-operative banks are small-sized entities structured in the co-operative sector which function together in urban & non-urban centers. In India, co-op...
Read more
Co-Operative Banks Extension of Area of Operation RBI Approval
Co-operative banks are small-sized units which are organized in the co-operative sector of urban and non-urban centers. They have become a vital part of th...
Read more
As seen in
Testimonials
5.0

" Enterslice use technology better than others. That saves time and money; Team enterslice is more efficient than traditional competitors, and that helps to pass on the cost advantage to its clients. The company is building a high-level transparency in legal services by optimum use of technology and process automation in consulting. I highly recommend this company. "

Nilanjan Bandyopadhyay
Nilanjan Bandyopadhyay
5.0

" Excellent advisory role by Enterslice Team. They are a trusted partners to us. Narendra and his team helped us with our pre NBFC applications and Post NBFC advisory services. "

Amit Goel
Amit Goel
5.0

" Amazing services provided by your organization. They have completed our NBFC registration order within stipulated time period of 90 days. They provide constant guidance and support in the process. Their support in building fintech software is amazing. "

Manisha Mantri
Manisha Mantri
Trusted by
Finstar Financial
Herbal Life Nutrition
First Cry
Acme Solar
Opera Software
Razorpay
Taj Hotels
wechat WeChat ID - Abhi821982
Go to Top Hey I'm Suman. Let's Talk!