ZEEVIKA

The main objective of the Society is to work for the socio- economic and cultural advancement of its members; and the members of such other Societies and Self Help Groups/ Joint Liability Groups (SHGs/JLGs) which are associated with it. For the said purpose it will undertake any one or more of the following activities:

• To arrange and provide instruments and other raw materials for agricultural farming, fishery and for small business concern of any nature suitable for the member concerned.
• To organize marketing of the produce of its members, related to agriculture, fishery etc., may it be by itself or through any other co-operative societies or any other genuine agencies.
• To acquire or purchase (or obtain on rent) different instruments related to Women Weaving, agriculture, fishery etc. and provide it to members on rent basis or without any consideration for their economic development.
• To invite experts of different economic fields and organize talks, seminars, workshops etc. for enhancing the knowledge of its members
• To receive all kinds of deposit from members for safe and profitable custody.
• To inspire and teach the members for the act of savings and investment.
• To lend money to its members at reasonable interest for undertaking such activities as mention above.
• Membership is open to all eligible individuals/Organizations residing or staying within the area of operation.
• The Society shall not engage in any banking related activities without saving license from the RBI under banking regulation Act.1949.

The fund of the society will be constituted as follows-

• 1. Share.
• 2. Deposits.
• 3. Donation.
• 4. Borrowings.
• 5. Fine, forfeited shares etc.

The total paid up share capital of the society will be Rs.10,00,000/- and the value of each share will be Rs. 1000/-

The maximum borrowing power of the Society by way of deposits as and loans from members and non members shall not exceed 25 times the sum of the paid up share capital and accumulated reserve fund during the financial year.

The savings of the society will be invested as follows-

• 1. The Society shall open Bank Account (S/B or Currant) in any Cooperative Bank and Nationalized Bank which is Schedule by RRB and account will be operated jointly by the Chairman and Chief executive Officer (CEO) of the society.
• 2. In purchasing of Govt. approved Debentures or share certificates.
• 3. Deposit in other Banks or Organizations as directed by the Registrar.