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?

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

Can we Raise fund in a multi-state co-operative society?

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Particulars Multi-state
Credit society
Nidhi Company
(Mutual benefit Society )
NBFC-ND NBFC-MFI
Governing Laws MSCS Act. 2002 Companies Act. 2013 RBI Act. 1934 RBI Act. 1934
Recommended for Non-Commercial Banking and NPO Member based
Mutual benefitsociety
Commercial Banking Business Poor and lower income group.
Initial Capital For General credit Rs. 2 Lakh and for Urban bank Rs. 4 Crore Rs. 10 Lakh Minimum Rs. 2 Crore Minimum Rs. 5 Crore.
Loan Limit No. No. No. Maximum Rs. 50,000
Members Min 50 from at least 2 state. In total 100 7 at the time of registration and after registration min 200. 7 7
Directors 7 3 3 3
Operations In a District or state PAN India PAN India PAN India
Credibility 6/10 8/10 10/10 10/10
Registration time Maximum 120 working days Maximum 40 working days Maximum 120 Working days Maximum 180 Working days
Registering Authority State Government and Central Govt. Registrar of Companies ROC & RBI ROC & RBI
Popular Low Medium High High
Deposits Yes. freely from public with certain limitation Yes. From only its members No. No.
Loan To Everyone To Members only To Everyone For lower income group 
Funding From Members and Public From Members only From Members and FDI From Members and Governments
Government aid Low No No. High
RBI License No. No. Yes. Yes.
RBI Act Yes. In case of urban Bank RBI Can Pass order as when required. Yes. Yes.

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