The document discusses cooperative societies, which are voluntary associations formed to protect members' common economic interests. A cooperative society operates for the benefit of its members, not for profit. It defines a cooperative society as people joining together equally and voluntarily to promote their economic interests through mutual assistance instead of competition. The basic philosophy is service over profit, mutual help over competition, self-help over dependence, and moral solidarity over unethical practices.

2. Cooperative Society
Cooperative is a voluntary association of
persons who joint together to safeguard their
own interests. It is a business activity without
having any profit motive, but for benefiting
themselves through cooperative.
According to Y.K. Bhushan, “A cooperative
society is essentially an association of
persons who join together on a voluntary
basis for the furtherance of their common
economic interests.”

3. According to Henry Calvert, “Cooperative
form of organization wherein the persons
voluntarily association together as human
being on the basis of equality for the
promotion of economic interest of
themselves.”

4. The Basic Philosophy of Cooperative Society
1. Service in place of profit
2. Mutual help in place of competition
3. Self help in place of dependence
4. Moral solidarity in place of unethical business
practice

5. Features of Cooperative Society
1. Open membership
2. Voluntary association
3. State control
4. Sources of finance
5. Democratic management
6. Service motive
7. Distribution of surplus
8. Self-help through mutual cooperation
9. Nature of formation
10. Number of members
11. Legal entity

6. Principles of Cooperative Society
1. Unity
2. Equality
3. Cooperation
4. Honesty
5. Trust and confidence
6. Service
7. Democracy
8. Proximity
9. Friendship
10. Economy
11. Discipline
12. Impartiality

7. Objectives of Cooperative Society
1. Social welfare
2. Financial stability
3. Creating unity
4. Developing efficiency
5. Supply of goods at fair price
6. Creating self dependency
7. Solution of capital problem
8. Poverty alleviation

8. Economic Importance of Cooperative Society
 Creation of unity and self-realization
 Creating employment opportunity
 Establishment of large scale business
 Teaching morality
 Improvement of skill
 Creating habit of saving
 Creation loan facility
 Solution to unemployment problem
 Poverty alleviation

9. Types of Cooperative Society
A cooperative society is a union of individuals who generally
join together to safeguard their own interests. The
cooperative society can be classified from the different points
of view which are the following:
Consumer’s cooperative societies: Consumer’s cooperative
societies are established by the consumers of a certain
locality for the purpose of economic and increasing social
standard of their own members. These cooperatives are
formed to ensure a steady supply of essential commodities of
standard quality to the members at fair price.

10. Types of Cooperative Society
Producer’s cooperative societies: These cooperatives are
formed for the benefit of small producers, who have
difficulty in collecting various factors of production
and face market problems.
Marketing cooperative societies: The societies are
formed to enable their members to secure fair prices
for their goods. In other words, these cooperatives are
associations of producers for selling their products at
fair price.

11. Types of Cooperative Society
Housing cooperative societies: These cooperative
societies are organized to provide residential
accommodation to their members, either on an
ownership basis or at fair rents.
Farming cooperative societies: These cooperative
societies are voluntary associations of small farmers,
who join hands with the objectives of achieving the
economic of large scale farming and maximizing
agricultural output. Scientific agriculture involves
provision of improved seeds, fertilizers, improved
methods of cultivation, irrigation etc. which can be
ensured through farming cooperative societies.

12. Formation of Cooperative Society
Taking initiative : Two or more than two persons may involve for
taking initiative to establish cooperative society.
Application for registration : After taking initiative initiator
prepare some documents for submitting application to the
ministry.
Collecting registration certificate : If the promoters submit their
all legal and supportive documents to the office of the registrar
then the cooperative society will get the permission.
Commencement : After getting the permission, the cooperative
society can star their business.

13. Thank You