Section 115D(2) in Andhra Pradesh Co-Operative Societies Act, 1964
(2)The Co-operative Credit Society shall have autonomy in all financial and internal administrative matters, subject to the guidelines of Reserve Bank of India/ National Bank for Agriculture and Rural Development in the following areas:-(i)Interest rates on deposits and loans,(ii)Borrowing and investments,(iii)Loan policies and individual loan decisions(iv)Personnel policy, staffing, recruitment, posting, and compensation to staff, and(v)Internal control systems, appointment of Auditors and compensation for the audit.
