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Industrial Co-operatives

Discuss Industrial Co-operatives within the Management Of Co-operatives ( MOC ) forums, part of the Resolve Your Query - Get Help and discuss Projects category; Industrial Co-operatives They are co-operatives formed by workers, controlled by workers and managed by workers. Importance of industrial co-operatives: 1. ...

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Industrial Co-operatives
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Sunanda K. Chavan
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Industrial Co-operatives - September 28th, 2010

Industrial Co-operatives

They are co-operatives formed by workers, controlled by workers and managed by workers.

Importance of industrial co-operatives:


1. Provides self reliance and prevents exploitation of the members.


2. Provides employment to the members.


3. Grant advance to members against their raw materials.


4. Uplifts the weaker section of society.


5. Trains workers and improves their skills.


6. Purchase or lease machinery required by members.


Example:
Co-Optex in Tamil Nadu has a network of 2.8 lakh handlooms, 268 showrooms and a turnover of Rs. 260 crore.


Benefits offered by the Government to Industrial Co-Operatives:



In the industrial co-operative societies of weaker sections of the societies, the Government has several schemes.



1. The Government sanctions share capital in the ratio 1:3, to enable the societies to borrow funds from the financial institutions.


2. Financial Assistance for Tools and Equipment.

The Government sanctions loans upto RS. 23,000/- to the members of such societies as 50% loan and 50% subsidy, for the purchase of tools and adopting improved methods of production.




3. Loans and subsidies for the construction of Godowns, workshops/ worksheds



The government gives upto Rs. 75,000/- (75% loan and 25% subsidy) to the societies for construction of worksheds or Godowns.



4. Interest Subsidy for Working capital:


The government gives an interest subsidy upto 3.5% to 4.5% on the amount borrowed by the co-operative. This scheme helps to reduce the burden of interest on the co-operative society which is to be paid to financial agencies.
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Ramu Kamurthi
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Re: Industrial Co-operatives - January 4th, 2011

18. The Meghalaya Co-operative Apex Bank Ltd. project
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Bhautik Kawa
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Re: Industrial Co-operatives - February 25th, 2016

Quote:
Originally Posted by sunandaC View Post
Industrial Co-operatives

They are co-operatives formed by workers, controlled by workers and managed by workers.

Importance of industrial co-operatives:


1. Provides self reliance and prevents exploitation of the members.


2. Provides employment to the members.


3. Grant advance to members against their raw materials.


4. Uplifts the weaker section of society.


5. Trains workers and improves their skills.


6. Purchase or lease machinery required by members.


Example:
Co-Optex in Tamil Nadu has a network of 2.8 lakh handlooms, 268 showrooms and a turnover of Rs. 260 crore.


Benefits offered by the Government to Industrial Co-Operatives:



In the industrial co-operative societies of weaker sections of the societies, the Government has several schemes.



1. The Government sanctions share capital in the ratio 1:3, to enable the societies to borrow funds from the financial institutions.


2. Financial Assistance for Tools and Equipment.

The Government sanctions loans upto RS. 23,000/- to the members of such societies as 50% loan and 50% subsidy, for the purchase of tools and adopting improved methods of production.




3. Loans and subsidies for the construction of Godowns, workshops/ worksheds



The government gives upto Rs. 75,000/- (75% loan and 25% subsidy) to the societies for construction of worksheds or Godowns.



4. Interest Subsidy for Working capital:


The government gives an interest subsidy upto 3.5% to 4.5% on the amount borrowed by the co-operative. This scheme helps to reduce the burden of interest on the co-operative society which is to be paid to financial agencies.
Hi Dear,

Please check attachment, here i am sharing Cooperatives Active in Industry and Services, Download and used in your project
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