BHUBANESWAR: The Registrar of Cooperative Societies (RCS) has directed all societies to display the names of their board of directors in a prominent location of the office premises and to complete their annual general body meetings (AGMs) for this financial year by March 31, 2026.
The RCS instructed that the cooperatives must hold AGMs every year with a minimum participants of 200 members as mandated by the statute.
Minister of Cooperation Pradeep Bal Samanta has also directed that profit earning cooperative societies with net profit above Rs 1 crore should be asked to distribute dividends to their members as per statutory provisions in the OCS Act and their respective bye-laws.
The RCS has asked field officers to ensure close monitoring and timely compliance. The primary agriculture cooperative societies (PACS) and large area multipurpose cooperative societies (LAMPS) mostly make profits from paddy procurement for the Odisha State Civil Supplies Corporation (OSCSC) under the decentralised procurement.