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In a Lok Sabha written reply, the Law Ministry detailed depositor/member-protection measures introduced via the Multi-State Cooperative Societies (MSCS) (Amendment) Act & Rules, 2023, including a Cooperative Ombudsman and mandatory Information Officers
The amendment strengthened audit norms (concurrent audit, uniform accounting standards, Parliament-tabled audit reports for Apex societies) and governance safeguards, including conflict-of-interest restrictions on directors
Complaints alleging fraud, cheating or criminal breach of trust are referred to State Police, the Economic Offences Wing or the CBI; recovery of dues is handled by a Liquidator under the MSCS Act, 2002
Governs registration, inquiry, inspection, winding up, liquidation and offences of multi-State cooperative societies, under the Central Registrar of Cooperative Societies
Introduced the Cooperative Ombudsman, Cooperative Election Authority, concurrent audit, governance and conflict-of-interest safeguards, and a Cooperative Rehabilitation, Reconstruction and Development Fund; enacted 3 August 2023
Inserted 'cooperative societies' into Article 19(1)(c) as a fundamental right, added Article 43-B as a Directive Principle, and introduced Part IXB; the Supreme Court struck down most of Part IXB for lack of state ratification but upheld it for multi-State cooperative societies
Provides a separate administrative, legal and policy framework for India's cooperative movement, under the vision 'Sahkar se Samriddhi'
Statutory authority regulating multi-State cooperative societies under the MSCS Act, 2002; empowered by the 2023 amendment to inquire into fraudulent or unlawful functioning
A grievance-redressal authority appointed by the Central Government under the MSCS (Amendment) Act, 2023, to address complaints from members and depositors of multi-State cooperative societies, working alongside a mandatory Information Officer appointed by each society to improve transparency.
Simple Analogy: Functions like a banking ombudsman, but for members of multi-State cooperative societies instead of bank customers.
GS Paper 2 > Polity > Cooperative Federalism and Statutory Bodies
Who is the current CEO of NITI Aayog (as of the exam date)?
Answer: B.V.R. Subrahmanyam
As of 2023, who is the CEO of NITI Aayog?
Answer: B.V.R. Subrahmanyam
Occasional — cooperative-sector reforms recur as the Ministry of Cooperation expands its remit
A cooperative society whose objects and area of operation extend to more than one state, registered and regulated under the MSCS Act, 2002