Co-operative organization
Co-operative organization is a voluntary association of persons formed on the basis of equality for the protection and promotion of their common economic interests. It is an attempt by weaker sections of society to accomplish benefits thought collective actions and mutual help. It is based on the principle of each for all and all for each. It is registered under the cooperative societies act. Membership of a cooperative society is voluntary nobody is compelled to join or leave the society. Anybody having a common interest can join or leave the society anytime. One member one vote is the principle of cooperation. Every member has one vote irrespective of the number of shares held. Thus, a cooperative society is run on a democratic. Capital of a cooperative society is raised by issue of shares to the members. In addition, a cooperative society can borrow from its members and from other sources.