LDE (other) • 2024 • Paper-II
Among the affiliated Cooperative Societies of Secondary and Federal Cooperatives, who can attend the Annual General Assembly?
A)
Existing Managing Director
B)
Existing Manager
C)
Existing Management Committee
D)
Existing Staff Committee
Option C is correct: Existing Management Committee.
LDE (other) • 2024 • Paper-II
No Cooperative Society shall, by accepting deposits or loans or in any other way, incur liabilities exceeding twenty times, as provided in of the Act.
A)
Section 72(3)
B)
Section 73(1)
C)
Section 74(1)
D)
Section 71 (2)
Option A is correct: Section 72(3).
LDE (other) • 2024 • Paper-II
notice of the General Body Meeting specifying the date, place and hour with agendas to be sent to every member of the Cooperative Society.
A)
Ninety clear day’s
B)
Thirty clear day’s
C)
Forty five clear day’s
D)
Twenty clear day’s
Option B is correct: Thirty clear day’s.
LDE (other) • 2024 • Paper-II
No resolution shall be brought forward in any regarding expulsion of a member, removal of elected member of the Board or Management Committee etc. unless due notice thereof is given in accordance with the provisions of the Act, Rules and the Bye-Laws of the Cooperative Society.
A)
Management Committee Meeting
B)
General Meeting
C)
Executive Meeting
D)
Disciplinary Meeting
Option B is correct: General Meeting.
LDE (other) • 2024 • Paper-II
Cooperative Societies may accept savings bank deposit both from members and non-members, subject to the rules for deposits framed by the Cooperative Society approved by the-
A)
Registrar
B)
NABARD
C)
Reserve Bank of India
D)
Manager
Option C is correct: Reserve Bank of India.
LDE (other) • 2024 • Paper-II
The Apex Bank or a Central Cooperative Bank for the purpose of financing its affiliated Cooperative Societies may incur liabilities by floating debentures, accepting deposits or in any other way to the extent of times the value of paid-up share capital.
A)
Ninety
B)
Thirty
C)
Twenty
D)
Forty
Option C is correct: Twenty.
LDE (other) • 2024 • Paper-II
On the direction of the Board or Management Committee and with all the necessary procedure being completed for calling a Special General Meeting, who shall call such Meeting?
A)
Chairman
B)
Manager
C)
Chief Executive
D)
Cooperative Audit Officer
Option C is correct: Chief Executive.
LDE (other) • 2024 • Paper-II
No Cooperative Society shall undertake current deposit account business without the sanction of the
A)
Secretary to the Government of Mizoram
B)
Cooperative Audit Officer
C)
Registrar
D)
District Cooperative Officer
In the regulatory framework of Cooperative Societies (governed by the State Cooperative Societies Act and Rules), the Registrar of Cooperative Societies is the primary administrative and regulatory authority. Current deposit accounts are considered 'demand liabilities' and carry a higher risk of liquidity strain compared to fixed or savings deposits. To ensure the financial stability of the society and protect the interests of the members, any society wishing to engage in current deposit business must obtain prior sanction/approval from the Registrar. The Secretary to the Government provides policy direction, the Audit Officer verifies accounts post-facto, and the District Cooperative Officer typically acts as a supervisory agent of the Registrar, but the statutory power to sanction such business activities rests with the Registrar.
LDE (other) • 2024 • Paper-II
It shall be the duty and responsibility of existing Board of Directors or Management Committee of every Cooperative to call the within ninety days after the Closure of the financial year.
A)
Annual Meeting
B)
Office Bearers Meeting
C)
Annual Employees Meeting
D)
Executive Meeting
Option A is correct: Annual Meeting.
LDE (other) • 2024 • Paper-II
Cooperative Societies may accept fixed deposits from?
A)
Members and non-members
B)
Employees of Mizoram Urban Cooperative Bank Ltd.
C)
Employees of Mizoram Cooperative Apex Bank Ltd.
D)
Management Committee members only
In the context of Cooperative Finance and the operational guidelines for Cooperative Societies (including those governed by the Mizoram Cooperative Societies Act), the primary objective of accepting deposits is to mobilize resources for lending and investment. While cooperatives are member-based organizations, most Cooperative Societies—especially those functioning as Credit Societies or Urban Cooperative Banks—are permitted to accept fixed deposits from both their own members and non-members (the general public) to ensure a steady flow of liquidity and capital. Options b and c are too restrictive as they limit deposits to specific employees of particular banks, and option d is incorrect because restricting deposits only to the Management Committee would severely limit the society's financial capacity and violate the principle of broad financial mobilization.
