PROGRESS OF AGRICUI^TURAI, CO-OPERATION 



Central Societies. — On 30 June 1915 there were one provincial 

 bank, twenty-nine central banks, fifteen agricultural unions and one Cen- 

 tral Provinces Union of Co-operative Banks. The working capital of 

 the pro\dncial bank had increased from Rs. 12, 22, 450 to Rs. 13,44,315 

 and the deposits from Rs. 5,35,933 to Rs. 9,(86,796. The working capi- 

 tal of the central banks had risen from Rs. 25,86,613 to Rs. 28,37,460, of 

 which latter sum the share capital formed 21 per cent., deposits by members 

 13 per cent., local deposits by non- members 27 per cent., and loans from 

 the provincial bank 37 per cent. The interest charged by the central 

 banks on loans was generally 9 per cent, while they paid 6 per cent, on de- 

 posits. The provincial bank lent money to societies at 7 per cent, and 

 paid 5 per cent, interest on deposits. The Central Provinces Union of Co- 

 operative Banks had continued to give valuable help to the Registrar in 

 securing unity of aim and effort. Its total income for the year was 

 Rs. 50,411. Failures of crops led to numerous renewals of loans. 



Agricultural Societies. — The number of agricultural credit societies 

 based on unlimited liability rose from 2,083 to 2,154— 127 being newly re- 

 gistered in 1914-1915. 2,013 societies had been affihated to central banks 

 on 30 June 1915. Two cattle-breeding societies were working satisfac- 

 torily, one at Nawagaon and one at Khandwa. 



Audit and Inspection. — The societies were inspected and their books 

 audited by the Registrar, his assistant, the chief auditor and his staff. 

 Considerable work of this sort was done by the Union. 



§ 5. Ajmer-Merwara. 



The following statement shows the comparative progress of co-operation 

 in Ajmer-Merwara in 1913-1914 and 1914-1915. 



Central Societies. — There were five central banking unions in 1914- 

 1915 as in 1913-1914. Ax the end of the former year 344 societies had 

 been affiliated to the banking unions and were financed by them, the 

 rate of interest charged being 10 per cent. The net profit of the banks 



