About us

About Sarvodaya Credit Co-Operative Society Ltd.

Sarvodaya was governed under Rajasthan Cooperative Society Act 2001 in the present.

Sarvodaya Credit Cooperative Society is a financial organization managing financial transactions amongst its members under the act of Cooperatives Societies. The society is registered under Government of Rajasthan- Act 2001 having registration No. 1471V. The society meticulously adhere all the rules of Government of Rajasthan-States Cooperative Society Act2001.

The Government of Rajasthan has formed rules to ensure the security of the deposits with Credit Cooperative Societies and it is mandatory by law for all registered societies to operate within those regulatory acts. According to these rules, any cooperative society is to have minimum 10% investment in share market and their own funds. Sarvodaya Credit Cooperative Society follows all existing parameters of fund sufficiency those formed by Government of India. The accounts of society are subject to audit by audit department and audit reports are then submitted to Registrar Office for their governance.

INTRODUCTION

HISTORY OF CREDIT CO-OPERATIVE SOCIETIES
At the time of India's independence, famine and poverty were major issues. The priority work of the Indian Government at that time was to Eradicate Poverty. Inter-and intra-state discrepancies in terms of economics and overall well-being also remained large. For this, many of the economic welfare schemes were introduced. The division of resources, as well as wealth, is uneven in India. This disparity creates different poverty ratios for different states.

The Government has initiated, sustained and refined many programs since independence to help the poor to attain economic self sufficiency. Economic development through cooperative societies was one of the most important and successful scheme. This was the time when the CREDIT COOPERATIVE SOCIETIES CAME INTO EXISTENCE. The cooperative societies were created and registered by the government at village level.

 SOCIETY
Group of 50 members used to collect a sum of money equally and kept it on a predetermined rate of interest with the group. One of the members of the group used to use that money at the time of emergency and return it with predefined interest within the stipulated time period. The interest so received used to be distributed equally amongst the members of the group. Like this, the group used to earn profit and the members were having economic growth. This is the definition of the society/group.

COOPERATIVE
The principal of cooperative is "ONE FOR ALL AND ALL FOR ONE".The working of  group with this sprit is the base of economic development of the society. Interest of a person to have only loan from the society is one sided feeling but he has to gain profits and share the responsibilities of the groups as well. The member of the society assists the society and society extends the assistance to members in turn. The Cooperative Department of Indian Government creates cooperative societies with an aim so as to make true the dream of cooperative and the members can progress economically.

The Government has initiated, sustained and refined many programs since independence to help the poor to attain economic self sufficiency. Economic development through cooperative societies was one of the most important and successful scheme. This was the time when the CREDIT COOPERATIVE SOCIETIES CAME INTO EXISTENCE. The cooperative societies were created and registered by the government at village level.

 CREDIT
The meaning of 'credit' in cooperative society is that there can be money transactions only. Other than this, the societies have no rights of investments. Under the rules of Cooperative Department of Indian Government, societies can receive the funds from members under different deposit schemes. This fund so received can only be invested amongst the members of the society as loan. Therefore, the credit cooperative society can perform activities in banking field only and no other field for them to perform.

3. FOUNDATION OF Sarvodaya CREDIT COOPERATIVE SICIETY AND THE JOURNEY OF ITS PROGRESS
Sarvodaya Credit Cooperative Society was established on 25 July 2011 in Sikar District of Rajasthan State under Rajasthan Cooperative Society Act 2001 with the approval of Deputy Registrar of Cooperative Societies Sikar. The accounts of Sarvodaya Credit Cooperative Society were audited by Audit Department of Rajasthan Government . Keeping in view the standard of our services and progress of our balance sheet.

4. WHAT IS SARVODYA CREDIT COOPERATIVE SOCIETY?
Sarvodaya Credit Cooperative Society is a financial organization managing financial transactions amongst its members under the act of Cooperatives Societies. The society is registered under Government of Rajasthan, States Cooperative Societies Act 2001 having registration No.  1471V  The society meticulously adhere all the rules of Government of Rajasthan, States Cooperative Society Act.

5. HOW DOES SARVODYA CREDIT COOPERATIVE SOCIETY UTILISE THE DEPOSITS?
Sarvodaya Credit Cooperative Society uses the funds received under different deposit schemes mainly in financial transactions amongst it's the members. 

6. WHAT IS THE SECURITY OF THE DEPOSITS?
The Government of Rajasthan has formed rules to ensure the security of the deposits with Credit Cooperative Societies and it is mandatory by law for all registered societies to operate within those regulatory acts. According to these rules, any cooperative society is to have minimum 10% investment in share market and their own funds. Sarvodaya Credit Cooperative Society follows all existing parameters of fund sufficiency those formed by Government of Rajasthan. The accounts of society are subject to audit by audit department and audit reports are then submitted to Registrar Office for their governance.

Member ship(About Us)
Since The Sarvodaya  credit co-operative society ltd. is registered under registrar of cooperative society of Rajasthan, to do any sort of activity like opening an account or getting in a loan from The Sarvodaya  credit co-operative society ltd., first of all one has to became the member of The  Sarvodaya   credit co-operative society ltd.

ELIGIBILITY TO BECOME A MEMBER 
Any persons who is 18 years of age and is capable of entering in a valid contract, member of Hindu undivided family business, a company registered under companies act, Any Other Co-OperatiAny persons who is 18 years of age and is capable of entering in a valid contract, member of Hindu undivided family business, a company registered under companies act, Any Other Co-Operative Organization can become the member of The Sarvodaya credit co-operative society ltd. 

JOIN THE SOCIETY
Just fill up a simple form and deposit a sum of Rs. 100/- and contact our office/authorizer of Sarvodaya credit co-operative society ltd. Once this formality takes a place you are a valid member of The Sarvodaya credit co-operative society ltd. and can operate your account very well.