Co-operative societies in India have a long history and play a pivotal role in the socio-economic development of the country. These societies operate on principles of cooperation, mutual assistance, and self-help, bringing together individuals with common economic goals to work collectively for mutual benefit. The concept of co-operative societies is rooted in the idea that collective effort can lead to greater economic and social gains for the members.

The significance of co-operative societies was further solidified through the 97th Constitutional Amendment Act of 2011, which granted them constitutional status and protection. This amendment introduced Part IXB (Articles 243ZH – 243ZT)to the Indian Constitution, specifically dealing with co-operative societies

The governance and regulatory framework of co-operative societies in India is designed to ensure their democratic functioning, transparency, accountability, and efficiency. This framework is governed by both state-specific legislation and central legislation, primarily the Co-operative Societies Acts enacted by state governments and the Multi-State Co-operative Societies Act, 2002, for those operating across multiple states.

State Co-operative Societies Acts

Each state in India has its own Co-operative Societies Act, which governs the functioning of co-operative societies within its jurisdiction. These Acts provide detailed guidelines on the registration, governance, management, and dissolution of co-operative societies. Key aspects typically covered include:

1.Registration: Procedures for registering co-operative societies.

2.Management: Composition, election, and powers of the board of directors.