Section 44AV in The Bihar Co-operative Societies Act, 1935
44AV. Autonomy in all financial and internal administrative matters.
- A co-operative society under Short Term Co-operative Credit Structure shall, have autonomy in all financial and internal administrative matters including the following areas:-(a)Interest rates on deposits and loans in conformity with Reserve Bank guidelines,(b)Borrowing and investments,(c)Loan policies and individual loan decisions,(d)Personnel policy, staffing, recruitment, posting and compensation to staff, and(e)Appointment of auditors and compensation for the audit and internal control system.
