Regulatory Authority Calls All Savings and Credit Cooperatives to Register Within 60 Days

The National Cooperative Regulation Authority, established to supervise and regulate savings and credit cooperatives, has called on all such cooperatives across the country to compulsorily register with the authority within 60 days. The registration process has begun today and must be completed online through the authority’s digital system.

To implement this requirement, the authority has issued the “Registration and Record-Keeping Standards for Savings and Credit Cooperatives – 2082 (First Amendment)”, which mandates that all cooperatives primarily engaged in savings and credit activities must register via an online portal. The authority will officially launch the digital registration system on Wednesday, and the 60-day registration period will start only after the portal is made public.

Cooperatives are required to pay a registration fee, which has been fixed based on their total assets or total capital and liabilities. The fee structure is as follows:

• Cooperatives with total assets up to Rs. 2 crore: Rs. 1,000

• Rs. 2 crore to 10 crore: Rs. 3,000

• Rs. 10 crore to 25 crore: Rs. 5,000

• Rs. 25 crore to 50 crore: Rs. 7,000

• Rs. 50 crore to 1 billion: Rs. 10,000

• Above Rs. 1 billion: Rs. 15,000

The authority stated that the mandatory registration system aims to strengthen transparency, accountability, and financial discipline in the cooperative sector. It has also warned that cooperatives failing to register within the given timeframe will face necessary legal action.