Privacy & Digital Content Policy

1. INTRODUCTION

Membership policy for Akshat Credit Co Operative Society Limited that incorporates the restriction and regulation on membership based on membership norms of the Society as per Central Registrar Norms in multi-state credit cooperative society in the eligible states for membership.

2. ELIGIBILITY

• Any person who is 18 years or older and is a resident of the following 2 states in India where the Society is having Operational Licence which are Rajasthan & Gujrat and or any state where Society have license to operate may become a Ordinary Member in case of depositing or a Nominal Member for Loan guarantee of Akshat Credit Co Operative Society Limited .
• An individual can be a member of only one multi-state credit cooperative society.
• Individuals who are engaged in illegal activities or have criminal records are not eligible for membership.
• Members of the immediate family of an eligible individual, including spouses, children, parents, and siblings, are also eligible for membership.

3. APPLICATION

• Interested individuals must complete a membership application form, which can be obtained from the Society's office, from the Society's website or my application KYC process.
• The completed process must indicate whether the applicant wishes to become a Member or a Nominal Member.
• The process must be accompanied by the appropriate membership fee: Rs. 10/- for Membership.
• The application must be approved by the Board of Directors before membership is granted. The Board of Directors may reject an application without providing a reason based on merit of the applicant.

4. MEMBERSHIP FEE

• A one-time membership fee of Rs. 10/- must be paid at the time of application for Membership.
• A one-time membership fee of Rs. 10/- must be paid at the time of application for Nominal Membership.

5. SHARES

• Members must purchase a minimum number of shares, as determined by the Board of Directors. In the case of Akshat Credit Co Operative Society Limited it is 1 shares of 10/- each to obtain membership. For loan customers the share amount will be as per the bye law specifications.
• Nominal Members are not required to purchase shares.
• The purchase of shares represents ownership in the Co-operative and gives members a voting right in the proceedings of the Society.
• The price of shares is determined by the Board of Directors and may be amended from time to time after approval from the regulatory authority- Central Registrar of Co-Operative Societies through amendment in the bye law of the Society.
• Members may purchase additional shares at any time.

6. DUES

• Members must pay annual dues to maintain their membership in good standing.
• The amount of annual dues will be determined by the Board of Directors and may be amended from time to time.
• Members who do not pay their annual dues within 90 days of the due date may have their membership terminated after the Board has decided so.

7. TERMINATION

• Members must pay annual dues to maintain their membership in good standing.
• The amount of annual dues will be determined by the Board of Directors and may be amended from time to time.
• Members who do not pay their annual dues within 90 days of the due date may have their membership terminated after the Board has decided so.

8. REINSTATEMENT

• A terminated member may apply for reinstatement within one year of termination.
• Reinstatement will be at the discretion of the Board of Directors and may be subject to the payment of back dues, a reinstatement fee, and other conditions as determined by the Board.

9. RESPONSIBILITY OF MEMBERS

• Members are responsible for keeping their contact information up-to-date with the Society which include their available phone number and e mail id.
• Members must promptly notify the Society of any changes to their contact information, including their address, phone number, and email address.
• Members are responsible for keeping their account with the Society in good standing.

10. RESPONSIBILITY OF NOMINAL MEMBERS

• Nominal Members are responsible for keeping their contact information up-to date with the Society.
• Nominal Members must promptly notify the Society of any changes to their contact information, including their address, phone number, and email address.
• Nominal Members are responsible for ensuring that their account with the Society is in good standing.

11. CHANGES TO POLICY

• The Board of Directors may make changes to this policy from time to time.
• and Nominal Members will be notified of any changes to this policy.
• Members and Nominal Members are responsible for keeping themselves informed of changes to this policy.