New Amendments Target Fraud in Multi-State Cooperative Societies
The Multi-State Cooperative Societies (MSCS) Amendment Act and Rules 2023 aim to enhance governance and transparency in these societies. Key changes include the introduction of Concurrent Audits, Cooperative Election Authorities, and Ombudsmen to mitigate fraud and financial irregularities. Stringent norms for director participation and audit procedures are among the extensive reforms highlighted in a report to the Rajya Sabha by Amit Shah.
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