Section 155 in The U.P. Co-operative Societies Rules, 1968
155.
A co-operative credit and thrift society of salary or wage-earners may be permitted in writing by the Registrar to contribute to the Reserve Fund not less than ten per cent of its net profits, if the society -(i)is prepared to reduce its rate of interest on lending to the extent acceptable or suggested by the Registrar, and(ii)has obtained agreements from the borrowing members for recovery of its dues from their salary as provided under Section 40.
