Kerala Co-operative Development and Welfare Fund Board
Functioning of the board
The major functions are as follows
- To rehabilitate weaker co-operative societies
- To create Risk fund
The Kerala Co-operative Development and welfare fund Board is established for implementing Co-operative welfare and development scheme as per section 57A of the Kerala Co-operative Societies Act 1969. Kerala Co-operative development and Welfare fund Board is constituted to administer the fund and implement the scheme as per GO (P) No.108/2000/Co-op dated 3-6-2000. The major mission of the board is to rehabilitate the weaker co-operative societies and also to implement development activities for the total up liftment of co-operative societies in the state. To achieve the above motto Kerala Co-operative development and Welfare fund has been established. The fund shall vest in and be administered by the board.
All Co-operative societies under the control of the registrar of co-operative societies shall become the members of Co-operative welfare and development scheme. The fund towards the scheme shall consist of initial contribution from the member societies and financial assistance from the government. The rate of contribution from the member societies are as follows:-
1. Initial contribution from the member societies at the rate of Rs. 2 per Rs. 1000 of the working capital subject to maximum of Rs.2 lakhs in respect of Apex and Central Societies and Rs.1 per Rs 1000 of the working capital subject to a maximum of Rs.1 lakh and a minimum of Rs.1000 irrespective of working capital in respect of all other societies at the time of admission. Only half of the above mentioned rates are applicable to the societies working on net loss as per tentative balance sheet.
2. Membership fee to be collected at the time of admission from various categories of societies as follows:
|(i) Apex and Central societies||:||Rs.10,000/-|
|(ii) Class I Societies||:||Rs.5000/-|
|(iii) Class II Societies||:||Rs.4000/-|
|(iv) Class III Societies||:||Rs.3000/-|
|(v) Class IV Societies||:||Rs.2000/-|
|(vi) All other societies irrespective of their category and working class||:||Rs.1000/-|
3. Annual renewal contribution at the rate of 10% of the initial contribution for apex and central societies and at the rate of 5%of the initial contribution, subject to a minimum of Rs.100 for all other member societies.
The board has been implemented a new scheme “Risk fund” during the 2008-2009 financial year. As per this scheme, if the loanee of Co-operative institutions is expired with in/after the loan repayment period, principal amount up to 1.50 lakh and the interest of the same will be paid by the board to the loan account of the loanee. The fund shall consist of 0.25% of loan amount deducted from loanee subject to a maximum of Rs.375 and a minimum of Rs.50. No financial assistance from govt. during the report year towards the risk fund.
The Board shall consist the following members
1. Minister in charge of co-operation (Chairman Ex-officio).
2. President, Kerala State Co-operative Bank.
3. Chairman, State Co- operative Union.
4. President of any two of the District Co-operative Banks to be nominated by Government.
5. Two representatives of the committee of the Primary Agricultural Credit
Societies to be nominated by Government
6. A representative of the committee of non-agricultural credit societies to be
nominated by Government.
7. Three eminent co-operators to be nominated by Government.
8. A representative of the committee from any other SC/ST Welfare Co-operatives,
or Vanitha Welfare co-operatives or any other weaker section co-operatives under
the control of Registrar of Co-operative Societies.
9. Secretary (Co-operation) to Government of Kerala.
10. Registrar of Co-operative Societies, and
11. Secretary/Treasurer of the Board.”
The board shall constitute by the Govt. from time to time and the Minister for Co-operation shall be the chairman and a vice chairman shall be nominated by the Government from among the members of the board other than the Chairman. The term of the board shall be for a period of five years having perpetual succession.
List of Board members till date