Patna: The Bihar government has begun the process of establishing the Bihar State Marketing Cooperative Federation to promote cooperative-based trade across the state. The Cooperative Department has invited applications from eligible cooperative societies seeking membership, with the deadline set for August 20.
According to the department, societies joining before the federation’s registration will be recognised as founding members, giving them an opportunity to participate in the formation of the organisation’s first governing body.
Membership Fee Fixed at Rs 21,000
The Cooperative Department has fixed the membership fee at Rs 1,000, while the cost of one mandatory share is Rs 20,000.
As a result, every cooperative society seeking membership will have to pay a total of Rs 21,000, with the purchase of at least one share being compulsory.
Founding Members to Get Additional Role
According to the department, cooperative societies that become members before the federation is officially registered will receive the status of founding members.
These members will also be eligible to participate in the formation of the federation’s first 17-member Board of Directors.
Rs 500 Crore Authorised Capital
The proposed federation will have an authorised capital of Rs 500 crore.
Its Board of Directors will comprise 17 members, including:
- One Chairman
- Thirteen elected directors
- Three ex-officio or nominated directors
The Chairman will be elected through a democratic process, and the post has been kept unreserved.
Representation and Reservation
The department said the Board will include representation from divisional marketing unions, trade cooperative societies and central cooperative societies.
Experts in cooperative administration and marketing will also be included.
Reservation for elected directors will be implemented in accordance with Section 14(2) of the Bihar Cooperative Societies Act, 1935, with reserved categories determined on a rotational basis before each election.
How to Apply
The Cooperative Department has invited eligible cooperative societies to submit membership applications by August 20.
For queries related to the federation’s formation or membership, the department has released a helpline number for applicants.
