CURRENT AFFAIRS
CURRENT AFFAIRS
Description
The Union Minister of Cooperation recently informed the Lok Sabha about National Cooperative Exports Limited.
About The National Cooperative Exports Limited
The Ministry of Cooperation established it under the Multi-State Cooperative Societies (MSCS) Act of 2002.
It will create a complete ecosystem for the promotion of exports, mostly of agricultural commodities to help our farmers, in which India has a comparative edge.
All cooperative societies engaged in exports, from the elementary to the apex level, are entitled to join.
The NCEL Is Made Up Of Two Types Of Members
Ordinary Members include
Ordinary members of the NCEL may be any of the following -
Any multi-state co-operative society or any co-operative society registered or deemed to be registered under any co-operative society law in force in any State or UT at the time; The National Co-operative Development Corporation (NCDC) established under the National Co-operative Development Corporation Act, 1962;
With relation to the nature and activities of the Society, such class or groups of persons or associations of persons as the Central Registrar may permit.
No one shall be eligible to become a regular member of the NCEL.
Nominal or associate member
- In the sake of promoting its operations, the society may admit any person, including cooperative banks, as a nominal or associate member.
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