Section 51 in The Meghalaya Co-operative Societies Rules
51. Provision for fluid resources or liquid covers.
- Any co-operative society accepting loans and deposits as provided in the foregoing rules shall keep the maximum fluid resources against loans and deposits held by it according to the following scale-(i)25 per cent of (he amount held in fixed deposits and loans due for repayment within the ensuing six months (less the amounts for which written notice of renewal has been received);(ii)33 per cent of the amount held in savings deposits ;(iii)60 per cent of the amount held in current deposits ; and(iv)the entire amount of undrawn cash credit granted.Explanation. - "Fluid resources" means any assets which can be converted into ready cash at once and which are maintained in one or more of the following forms :(a)cash in hand, or in banks or with bankers approved by the Registrar;(b)Government securities including post office case certificates ;(c)deposits in Post Office Saving Banks ;(d)other investment of a liquid nature in outside concerns approved by the Registrar; and(e)the undrawn portion of assured cash credit with-(i)any joint-stock bank or private banker approved by the Registrar; or(ii)the Apex Bank or any other Co-operative Bank approved by the Registrar.
