MISCEIvIyANEOUS INFORMATION RELATING TO CO OPERATION 

 AND ASvSOCIATlON IN VARIOUvS COUNTRIES. 



BRITISH INDIA. 



THE MADURA-RAININAD CENTRAI, CO-OPERATIVE BANK, I^EMITED. — The Madras 

 Bulletin of Co-operation, Vol. IX, No. c, Royapettah (Madras), August 1917. 



This central co-operative bank of Madras has made certain rules as to 

 its issue of loans. 



Classification of Societies. — The societies affiliated to the banks are 

 divided into three classes. Class I consists of those which are in the opinion 

 of the bank's board well managed ; class II of those which are able to manage 

 their own affairs but are not well managed in the board's opinion ; and 

 class III of all the others. At the beginning of each business year a list 

 of societies assigned to classes I and II. will be vSubmitted to the board for 

 approval by the secretary. 



Classification of Loans. — Loans are divided into the three categories 

 of " cash credit loans ", " short term cash credit loans ", and " short-term 

 and long-term loans ". The secretary is authorized to advance sums in 

 cash credit and on short-term cash credit accounts on the application to the 

 bank of the societies privileged to draw upon it. Short-term and long-term 

 loans may be made only with the board's sanction, and the previous re- 

 commendation of the Assistant Registrar must in .some cases be obtained 

 for them. 



Cash Credit Loans. — These loans will be granted only to societies be- 

 longing to class I. Their maximum limit will be fixed proportionately to a so- 

 ciety's normal needs in a year, as these are disclosed by the annual returns. 

 The loans may not be made for more than a year but are renewable. 



Societies applying for cash credit loans must submit on or before cer- 

 tain fixed dates : i) a statement in abstract of their monthly receipts and 

 disbursements ; 2) a statement as to the property of their members if they 

 have unlimited and as to their share capital if they have limited liability ; 

 3) their annual balance-sheet and profit and loss statement ; 4) a statement 

 as to their overdue loans and interest for the half year ; 5) a statement as 

 to deposits and other borrowings for the half year. 



The qualified societies may draw from the Central Bank any sura the^^ 

 need according to the prescribed form, provided the total indebtedness to 

 the bank do not at any time exceed the maximum limit of cash credit. In- 

 terest shall be calculated at the usual rate of 714 per cent, on daily balances, 



