Why in news
- Ministry of Cooperation restored the CRCS-Sahara Refund Portal to resume processing pending claims of cooperative depositors.
Key terms
Multi-State Cooperative Society
A cooperative society operating in more than one State, governed by Central statutory regulations.
What is the Central Registrar of Cooperative Societies?
- Statutory body under the Multi-State Cooperative Societies Act, 2002, responsible for registering and regulating multi-State cooperatives.
- Operates under the administrative control of the Ministry of Cooperation.
Refund Framework and Execution
- Portal established following the Supreme Court order dated March 29, 2023, in W.P. No. 191/2022 to disburse genuine depositor dues.
- Direct Benefit Transfer (DBT) model remits verified funds directly into depositors' Aadhaar-seeded bank accounts.
- Restoration resolves operational, administrative, and IT infrastructure bottlenecks that previously halted verification.
Why it matters
- Protects small depositors' capital and restores institutional trust in multi-state cooperative financial structures.
Prelims facts
- Multi-State Cooperative Societies are registered by the Central Registrar, not State registrars.
Mains discussion
- Role of regulatory intervention in protecting small savers in the cooperative banking sector.
Source: PIB
Same topic · past papers
UPSC has asked this before
These previous-year questions sit on the same topic. Open one to practise the earlier ask.
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2024 · Q128 · UPPGS
Match List-I with List-II and choose the correct answer using the codes given below the lists: List-I List-II A. Cooperative Federalism 1. K.C. Wheare B. Bargaining Federalism 2. Ivor Jennings C. Quasi Federalism 3. Morris-Jones D. Federalism with 4. Granville Austin Centralising Tendency Codes: A B C D -
2019 · Q86 · UPPGS
Given below are two statements, one is labelled as Assertion (A) : and the ether as Reason (R). Assertion (A): Sugarcane and sugar production in U.P. is more than Maharashtra but productivity is less. Reason (R): Most of the sugar factories in Maharashtra are in cooperative sector.