Minister for Cooperation Harshvardhan Patil tabled Tuesday a joint select committee report on the 97th amendment to Cooperative Societies Act. The report says the government cannot overlook financial compensation to cooperatives playing a significant role in disbursing loans to farmers during natural calamities such as drought and flood.
The report also allows members of a family on cooperative boards. The argument against this was cooperative societies these days have become family businesses.
With these suggestions,reforms promised by Chief Minister Prithviraj Chavan to bring more accountability and transparency through stringent norms appear to have been diluted making audits easier for cooperatives.