Terms of Use

Sri Krishna Mutually Aided Co-operative Thrift And Credit Society Limited

1. Acceptance of Terms

By accessing, using, or becoming a member of Sri Krishna Mutually Aided Co-operative Thrift And Credit Society Limited (“Society”), you agree to comply with these Terms of Use, the Society’s by-laws, rules, and resolutions.

2. Membership Eligibility

Membership is open to individuals who:

• Are 18 years of age or above
• Are farmers, rural residents, small business persons, or artisans
• Reside within the operational area of the Society
• Fulfil eligibility criteria as per Society by-laws
• Are approved by the Managing Committee

3. Membership Obligations

Members are required to:

• Purchase the minimum number of shares prescribed by the Society
• Maintain compulsory thrift (savings) contributions
• Abide by the Society’s by-laws, rules, and resolutions
• Participate responsibly in Society activities

4. Thrift (Savings) Program

• Periodic thrift contributions are mandatory for members
• Withdrawal of thrift is subject to Society rules and conditions
• Thrift funds are utilized for member welfare and credit support

5. Loans and Credit Facilities

• Loans are provided exclusively to registered members
• Loan sanction depends on eligibility, thrift history, and repayment capacity
• Interest rates and terms are fixed by the Managing Committee
• Default or delay in repayment may attract penalties or legal action

6. Use of Society Funds

Funds of the Society shall be used for:

• Agricultural and allied credit activities
• Supply of seeds, fertilizers, and agricultural inputs
• Member welfare and development programs
• Administrative, operational, and statutory expenses

7. Member Conduct

Members shall not:

• Misuse Society funds or assets
• Submit false or misleading information
• Act against cooperative principles or Society interests

Any violation may result in suspension, penalties, or termination of membership.

8. Termination of Membership

Membership may be terminated due to:

• Voluntary resignation
• Continuous default in obligations
• Violation of by-laws or resolutions
• Death of the member

Settlement of accounts shall be carried out as per Society rules and applicable laws.

9. Limitation of Liability

The Society shall not be liable for:

• Crop losses or agricultural risks
• Market price fluctuations
• Losses arising from natural calamities or external economic conditions

10. Governing Law and Dispute Resolution

These Terms of Use are governed by the Telangana Mutually Aided Co-operative Societies Act, 1995, and applicable Indian laws.

Disputes shall be resolved through internal cooperative mechanisms, arbitration, or before the Cooperative Registrar or courts having jurisdiction in Telangana.

11. Amendments

The Society reserves the right to amend these Terms of Use through resolutions approved by the General Body. Updated terms shall be applicable from the date of publication or notification.