The term Co-operative societies, though not formally defined, refers to primary cooperative banks located in urban and semi-urban areas. These banks were traditionally centered around communities, localities workplace groups. They essentially lent to small borrowers and businesses. Today, their scope of operations has widened considerably. The Government of Goa has introduced scheme to computerize the work of these cooperative societies a very good initiative towards digitization. The key features of this scheme are:
The aim is to help urban cooperative and primary agricultural cooperative credit societies in Goa to computerize their books of accounts. .
- The Societies having three or less branches/extension counters can avail financial support in the form of loan and subsidy up to maximum Rs. 1.00 lakh being 50% loan and 50% subsidy per society
- The societies having more than three branches /extension counters can avail financial support in the form of loan and subsidy up to maximum Rs. 2.00 lakh being 50% loan and 50% subsidy.
For Societies who have earlier availed the benefit of this scheme and having more than three branches/counters can apply for the maximum financial support of Rs. 1 lakh, 50% being the loan and 50% subsidy per society subject to these conditions-
- The society shall furnish the full details of business activities, Government sponsored scheme proposed to be implemented along with working results projected for three years along with application.
- The three quotation from reputed firms for purchase of computer and its accessories along with a comparative statement.
- The minimum working capital of the society shall be Rs.1.00 lakh.
- The audited Statement of Accounts for the last three years.
- The beneficiary society shall be placed in audit class “A”, “B” and “C” during last three years.
- The society shall be sufficient repaying capacity to repay the loan amount.
- The society shall submit the proposal through the concerned Assistant Registrar.
This scheme will help the societies to meet their working capital requirements to computerize the accounts so that the present volume of manual work can be reduced to great extent.
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