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Polity & Governance
Mahesh

16/10/22 07:43 AM IST

Cabinet okays amendments in Multi-State Cooperative Societies Act

In News 
  • The Union Cabinet recently approved amendments to the Multi-State Cooperative Societies Act to bring transparency in the sector and reform the electoral process.
Key Amendments 
  • The Bill will incorporate the provisions of the 97th Constitutional Amendment.
  • The amendments have been brought to improve governance, reform the electoral process, strengthen monitoring mechanisms and enhance transparency and accountability.
  • The Bill also seeks to improve the composition of board and ensure financial discipline, besides enabling the raising of funds in the multi-state cooperative societies.
  • Enabling the raising of funds in the multi-state cooperative societies.
  • Setting up of:
    • Cooperative Election Authority
    • Cooperative Information Officer
    • Cooperative Ombudsman
The amendments have been introduced to
  • Improve governance
  • Reform the electoral process
  • Strengthen monitoring mechanisms
  • Enhance transparency and accountability.
Source- PIB 

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