Stages of development of cooperative activity in India

- June 10, 2020

Stages of development of cooperative activity in India

After the drought, the British government introduced the first daikin agriculture relief in the late 18th century to provide loans to farmers for agriculture. In 1984, the Agriculture Loan Act was passed to provide agricultural credit to farmers.
The report of Sir Frederick Nicholson was taken up by the Government of India at the beginning of the 19th century.lord karjan Sir Edward Law Committee was formed then advocated for enactment or implementation of co-operative law for the whole country and the process was started.
In the year 1904, the law of Co-operative Societies was passed covering the whole of India which is also considered as the law of co-operative societies.The Non-Credit Co-operative Societies Act was enacted in 1912. The purpose of the society was to promote the economic upliftment of its members in accordance with the principles of co-operation.
After the formation of the Provincial Co-operative Institute in Mumbai in 1918 for co-operative education training and promotion, the Land Development Bank, a long-term lender, was started in 1920 in Jalandhar, Punjab. It was known as Land Mortgage Bank but since then the law has been changed frequently and State Agriculture and Rural Development Banks have been set up in different states i.e. banking department has been started in the 1920 to 30 in decades.
In the province of Mumbai, i.e. at the state level, the first co-operative law was enacted in 1925, i.e. the Bombay Co-operative Act was enacted in 1925. In addition to the provisions, mentioning the criminal act and the provisions for the consolidation of congregations were also covered.
The RBI Bank of India, later known as the Reserve Bank of India, was established on April 1, 1935 under the provisions of 1934, which governs monetary policy throughout India.
In 1945, a committee was appointed under the chairmanship of Shri R. G. Saraiya who made two main recommendations in which the first rural credit co-operative societies should be various working co-operative societies instead of one working co-operative society.In the next 10 years, co-operative activities should cover 50% of the country's villages and 30% of the country's total population.

We know that after India gained independence in 1947, i.e. after India became independent, in season 1954, accepting the recommendation of the Rural Credit Servay Committee, priority was given to the collection of co-operative credit sales conversion and accompanying co-operative training.
In the context of the National Development Council of 1958, great emphasis was laid on the formation of service co-operative societies in the field of agricultural credit in which a co-operative society in a village should be developed by accepting it in principle and the co-operative society in each village as well as the gram panchayat should take responsibility