Cooperative organizations will have to pay a fee when registering with the authority. The fee has been set based on the organization's total assets or total capital and liabilities.
We use Google Cloud Translation Services. Google requires we provide the following disclaimer relating to use of this service:
This service may contain translations powered by Google. Google disclaims all warranties related to the translations, expressed or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose, and noninfringement.
Cooperatives engaged in savings and loan transactions must now be registered with the National Cooperative Regulatory Authority.
The Authority, established to regulate cooperatives, has called for registration. Cooperatives will have to register with the Authority online. For this, the Authority has issued ‘Registration and Documentation Standards 082 for Cooperatives Mainly Engaged in Savings and Loans’ (First Amendment). As per the standards, the Authority is making public the online portal for registering cooperatives on Wednesday. The period given for registration for cooperatives will start counting only after the system is made public. Because the standards recently issued by the Authority state that the period will start counting only after the electronic registration system is launched.
While registering with the Authority, cooperatives will have to pay a fee. The fee has been fixed based on the total assets or total capital and liabilities of the organization. According to which, cooperatives with total assets up to 20 million will have to pay 1,000, more than 20 million up to 100 million 3, more than 100 million up to 250 million 5,000, more than 250 million up to 500 million 7,000, more than 500 million up to 1 billion 10,000 and cooperatives with total assets over 1 billion 15,000 will have to pay an operating license fee.
