ABOUT US
The Bhabha Atomic Research Centre Employees’ Co-Operative Credit Society is an ISO 9001:2015 Certified.
OBJECTIVE
To encourage co-operation amongst the members
To enable its members to obtain loans on reasonable terms
To enable members to save of their income in a safe and convenient way
To lend money from funds to be created by means specified hereinafter with interest to the members of the Society
To create a welfare fund for the staff as well as for the members of the Society
To grant loans to purchase utility articles under Special Loan scheme of the Society
To do such other things incidental or conducive to the attainment of all or any of the above objects
Funds shall be raised by all or any of the following ways:
Issue of Shares
Entrance Frees
Deposits form members
Monthly Subscription
Loans
Share capital contribution and other forms of state aid, subject to the provisions of the Maharashtra Co-operative Societies Act 1960 and the Rules there under
MEMBERSHIP
No person shall be a member unless he/she complies with the following provisions of Section 22 of the MCS Act,1960
- He / she should be a permanent employee in Bhabha Atomic Research Centre, Department of Atomic Energy and its constituents units including aided institutes
- He / she should comply with the conditions prescribed in the “Act”, “Rules” and “Bye-laws”
- He / she should give authority letter to Employer / Management for deduction of salary as per Section 49 of MCS Act, 1960.
- He / she is competent individual to contract under Indian contract Act, 1872
- He / she should pay entrance fee of ₹ 100/- and also purchase one Share of the Society.
- The Managing Committee gives approval to his/her written application for membership.
BUSINESS PROCEDURES
A member shall be eligible for four type of loans as follows:
- Ordinary Loan
- Special loan
- Emergency Loan
- Advance against Deposits