As part of steps to strengthen the cooperative sector, a campaign has been launched in Rajasthan to clear the backlog and carry out audit of the accounts of village service cooperative societies to enable them to obtain loans from banks. The exercise will be completed by January 31.
Cooperatives Registrar Muktanand Agrawal said here on Thursday that the instances of loans being disbursed to cooperative societies without the completion of audit had come to light in the past with the apprehensions about financial irregularities. The campaign will ensure transparency in the process of release of loans.
The managing directors of central cooperative banks have been asked to check the completion of accounts. Mr. Agrawal said action under the Rajasthan Cooperative Societies Act, 2001, would be initiated against the village cooperative societies not getting their audit done for a long time.
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