438 PROVISION OF BOllROWlNG FACILITIES. 



(ii) to secure uniformity of practice and unity in effort and in 

 aim amongst all co-operative bodies in the Central Provinces and 

 Berar ; 



(iii) to work for the common good of all co-operators and 

 especially to see that co-operative business is conducted on sound, safe 

 and progressive lines. 



The Central Banks each elect one delegate who is duly empowered 

 to act and vote on their behalf at the meetings of the Union Congress 



f-> O 



which is made up of these elected delegates. The Congress elects its 

 own Governor, who may be the Registrar or any other duly qualified 

 person. At present the Registrar is Governor, and, as such, he 

 nominates from the Congress members his own advisory council of 

 four. The Governor's term of office is terminable only by his death, 

 resignation, or the vote of a two-thirds majority of the Union 

 Congress. The Manager of the Provincial Bank is Secretary of the 

 Congress, ex-ojjido. Every Central Bank must submit an annual 

 budget to the Governor showing : 



(i) the name and the number of paid servants to be maintained, 

 by the Bank and its societies during the ensuing year ; 



(ii) the salaries to be paid to such servants (a) by the Bank, 

 and (b) by societies ; 



(iii) the approximate sums to be expended on stationery, 

 printing, etc., for the Bank and its societies ; 



(iv) the means by which it is proposed to raise the funds to meet 

 these expenses. 



Our Central Banks, of course, meet their expenses and pay their 

 Managers, Inspectors, Accountants, etc., from the income they 

 derive from interest not, it must by noted, from the interest on 

 reserve funds which is left to accumulate in reserve. But the borrowing 

 societies carry the whole of the difference between the rates of interest 

 paid by societies and their individual members, as well as all profits 

 on deposits and on accumulated reserves, to their reserve funds, which 

 we fully recognize must be strengthened with the least possible delay 

 by all the means at our disposal. To this policy we intend to hold 

 fast ; at any rate until reserves bear a far greater proportion to 

 liabilities than they do at present. Meanwhile, until we can prudently 

 devote the income from invested reserve funds to meeting annual 

 expenses, we ask and expect the members of our co-operative societies 

 to assist us in the efforts we are making for them. And Central 



