ZEEVIKAOperation Of Bank Account
Operation Of Bank Account
The accounts of the society with the Bank shall be operated jointly by the Chairman and the Chief Executive Officer (CEO) of the society .
Public Deposit And Advance
Public Deposit And Advance
The society shall take deposits from all kind of share holders and issue Credit to share holders within the area of operation.
Distribution Of Net Profit
Distribution Of Net Profit
The Secretary will distribute earned by it in any years in the following way :
| Reserve Fund | : | 25 % |
| Co-operative Development Fund | : | 1 % |
| Bad & Doubtful Fund | : | 12 % |
| Training & Education Fund | : | 5 % |
| Social Development fund | : | 10 % |
| Bonus to staff & Employees | : | 5 % |
| Donation | : | 2 % |
| Total | : | 100 % |
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Reserve Fund
Reserve Fund
The reserve fund will be kept separate where admission fee, fines, forfeited amount etc, are also to be deposited. This fund may also be utilized for the development of the Society.
Bad Debt Fund
Bad Debt Fund
Bad debt fund will be utilized to fulfill the loss occurred due to bad debt.