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Co-operative credit societies and elections |
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- There is a different role that is present for co-operative credit societies which is concentrated on the availability of finance when required and also for helping members deal in the various aspects of money.
- Now several of these societies have begun to adopt the core banking facility and this is the reason why many of them even function like banks. While this may be a good sign for the user because they get good facilities there is another aspect involved.
- There is also an increasing worry that these societies could be used for transferring money especially during election time because it is very difficult to exactly control the usage and due to this the area ha also come under the scanner of the regulator. Individuals who use these societies need to ensure that they maintain proper records so that any questions can be answered when required.
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