34 



INFORMATION REI.ATING TO CO-OPERATION AND ASSOCIATION 



Activity of Agricultural Co-operative Societies in Travancorc. 



■2. THE \L\DRAS PROVINCIAl, CO-OPERATIVE BANK LIMITED. — M. R. Ry. M. Shi\a 

 Rao Avl. of Puttur, S. Canarn, in The Madras Bulletin of Co-oheration. Vol. VIII.. No. i, 

 September 191 6. 



The Imperial Committee on Co-operation, whose report we resumed 

 on another occasion (i), suggested " the creation in every province of a 

 provincial or apex bank ", which should deal eventually with central banks 

 only and be directed by a board of management, but in which the ultimate 

 control should be vested in the federated societies. The committee was of 

 opinion that the Madras Central Urban Bank, Limited, could be convert- 

 ed, provided certain essential changes were carried out, into a Provin- 

 cial Bank, such as the committee contemplated. This proposal was not 

 however favourably received b}' the co-operators of the presidency, on 

 whom therefore it has become incumbent to form a Provincial Bank. It 

 is proposed to associate for this purpose all the co-operative societies in 

 the presidency in a central union, and the draft by-laws for the scheme 

 have been approved by the Registrar of Madras Co-operative Societies and 

 the Commissioner of Revenue vSettlement. 



The capital necessary to the undertaking is estimated at 200,000 ru- 

 rupees, to form which each of the 2,000 societies in the presidency must 

 take on an average a single share of Too rupees. It is proposed to spread 

 the payments on account of shares over ten years, to treat half the amount 



(i) Sue Intirnatinnal Review of iiiricuUiiral Econom-'cs. January and March 1916. 



