Section 44M in Jharkhand Co-operative Societies Act, 2008
44M. Autonomy in all financial & internal administrative matters.
- A Co-operative Society under short term Co-operative credit structure shall have autonomy is all financial and internal administrative matters including the following areas:-(a)interest rate on deposit and loans in conformity with Reserve Bank guidelines(b)Borrowings & investment.(c)Loan policies individual loan decisions(d)Personal policy, staff recruitment posting and compensation to staff and(e)Appointment of Auditors and internal control system and payment of audit fee.
