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REG. NO. MSCS/CR/680/2012
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Q5. What is Reserve Fund?
Answer: In addition to the sum prescribed under the Co-operative Societies Act and Bye-laws, all admission fees, entrance fees, nominal membership fees, amount of forfeited shares and dividends and donations shall be carried to the Reserve Fund.
Q6. What is Share Certificate?
Answer: Every ordinary member shall be entitled to receive a share certificate gratis stating the number of shares and their distinctive numbers. The share certificates shall be signed by the Chief Executive Officer and any Director authorized by the Board and bears the seal of the society.
Q7. Who can invest?
Answer: Any person, co-operative societies etc who are the ordinary or nominal members of Rainbow Multi State Credit Co-operative Society Ltd. can invest in different scheme.
Q8. What is Total Investment?
Answer: Total Investment means 25% of total deposit amount is invested with a bank or in property for security of members deposit.
Q9. Total Investment is mandatory for Co-operative Societies or not?
Answer: Not mandatory
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Rainbow Multi State Credit Co-Operative Society Ltd.
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Rainbow Multi State Credit Co-operative Society Ltd. is not a Company. This is a Co-operative Society Registered under MSCS Act, 2002. Facilities of this society are not open for general public. We are providing all facilities to the members who are registered under this society. The person, who wants to become an Associate member of this society with his own interest, should apply for membership in prescribed format of the society with Rs.100/- as Associate Membership fee. Society has the right to accept or reject the membership application without giving any reason thereof.