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Section 32A: Autonomy in all financial and internal administrative matters.

The Jammu and Kashmir Co-Operative Societies Act, 1989Union territory Act of Jammu and Kashmir · Act 10 of 1989

[32A. Autonomy in all financial and internal administrative matters.––Subject to the provisions of this Act, rules or bye-laws made thereunder or [any other law for the time being in force and subject to overall supervision and control of the Government], a Co-operative Credit Structure Society shall have autonomy in all financial and internal administrative matters including the following areas :––

(a) interest rates on deposits and loans; provided that in case of the State Co-operative Bank and a Central Co-operative Bank, the interest rates shall be in conformity with the guidelines issued by the Reserve Bank ;

(b) borrowing and investments ;

(c) loan policies and individual loan decisions ;

(d) personnel policy, staffing, recruitment, posting and compensation to staff ;

(e) internal control systems, appointment of auditors and compensation for the audit].

Where this provision sits

ActThe Jammu and Kashmir Co-Operative Societies Act, 1989
Section32A
Marginal noteAutonomy in all financial and internal administrative matters.
JurisdictionUnion territory of Jammu and Kashmir
StatusIn force as published by the source

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