Register of Shares and debentures Minutes books of general body meeting and committee meetings Property Register Maintenance of register of audit objections and their rectifications Special Features of Co-Operative Audit The checking of posting, arithmetical accuracy, vouching, verification of assets and liabilities and scrutiny of balance sheet are same as Auditor do in any other case. We will now discuss a few important aspects related to the Audit of Co-operative societies.
Urban Co-Operative Banks of India! Co-operative credit societies established in urban areas are referred to as urban co-operative banks. In most states, however, no clear-cut definition of an urban co-operative bank is statutorily followed.
Urban co-operative banks are confined to the municipal area of a town. They are of types: Urban co-operative banks usually meet the needs of specific types or groups of members pertaining to a certain trade, profession, community or even locality. UCBs are unique in terms of their clientele mix and channels of credit delivery.
On account of their local feel and familiarity, UCBs are important for achieving greater financial inclusion. In recent times, however, UCBs have shown several weaknesses, particularly related to their financial health.
Recognising their important role in the financial system, it has been the Endeavour of the Reserve Bank to promote their healthy growth.
However, the heterogeneous nature of the sector has called for a differentiated regime of regulation. In recent years, therefore, the Reserve Bank has provided regulatory support to small and weak UCBs, while at the same time strengthening their supervision. Prudential norms were also fine-tuned to the evolving circumstances and newer business opportunities were opened for UCBs to enhance their fee-based and other non-interest income.
Several important measures relating to improvement in credit delivery, customer service, financial inclusion and financial markets, taken for the commercial banks were extended to UCBs with suitable adaptations.
To strengthen the urban co-operative banking sector, the Reserve Bank took several policy initiatives during the year relating to prudential norms, credit delivery, improvement in customer service and enhancement of business opportunities, and financial inclusion.
Urban co-operative banks are regulated and supervised by State Registrars of Co-operative Societies RCS in case of single-state co-operative banks.
The RCS exercises powers under the respective Co-operative Societies Act of the States with regard to incorporation, registration, management, amalgamation, reconstruction or liquidation.
The draft vision document identified this duality of command as the main cause of difficulties in implementing regulatory measures with the required speed and urgency, and as an impediment to effective supervision. In order to develop greater coordination between the agencies responsible for regulation and supervision of UCBs it was proposed in the Vision Document to have a working arrangement in the form of a Memorandum of Understanding MoU between the Reserve Bank and the respective State Governments.
TAFCUBs also make recommendations on the future set up of unlicensed banks in the State, based on the assessment of their financial position and strength. MoU have already been signed with eight States, viz. In each of these States, a task force has also been constituted.
These states together account for Based on the recommendations of the TAFCUB, supervisory actions that have been taken include exiting banks through mergers with other UCBs cancellations of license of unviable UCBs and rejections of license applications of unlicensed co-operative societies.The Urban co-operative bank comes under primary co-operative societies at the base level of the three tired pyramidal structure.
2. OBJECTIVES OF THE STUDY The study is designed to fulfill the following objectives: which includes meaning, definition, concept, significance.
With reference to above relevant information the main objective is to study the induction of IT tools in urban cooperative bank in light of software engineering concept. Scope of the Study The Urban Co-operative bank sector is mostly related to all classes of .
The state co-operative bank is a federation of central co-operative bank and acts as a watchdog of the co-operative banking structure in the state.
Its funds are obtained from share capital, deposits, loans and overdrafts from the Reserve Bank of India. Co-operative Movement in Bangladesh Introduction: Co-operative movement is a series of planned activities with a common goal.
The term usually refers more specifically to the formation of non-profit economic enterprises for the benefit of those using their services. COOPERATIVE BANKS Introduction Co-operative bank, in a nutshell, provides financial assistance to the people with small means to protect them from the debt trap of the moneylenders.
It is a part of vast and powerful structure of co-operative institutions which are engaged in tasks of production, processing, marketing, distribution, servicing. AUDIT – MEANING AND SCOPE The audit under sub-section (1) of section 81 of Maharashtra Co- operative Societies Act, shall include an examination of overdue debts, if any, the physical verification and valuation of assets and.