QS Study

Definition of Multi-Purpose Cooperative Society

Whenever a cooperative society is established to attain multi-purpose objectives is called multi-purpose cooperative society. It is an organization which is owned and operated by a group of individuals for their mutual benefit. This cooperative attempts to gain various objectives whereas others cooperative objectives are limited. Whenever any cooperative society establishes to attain various goals such as production, purchasing, selling, credits sanction and so on this cooperative is called multi-purpose cooperative society. As the name indicates its responsibility for a different purpose for which it has been set up. It can work for arranging credit, improved seeds, agricultural implements, fertilizers, sanitation, health etc. The functions depend upon the interest and the object of the members. If the members are anxious to do more things, the multi-purpose co-operative societies can take to other function also.

The main advantage is different types of activities are accomplished under this cooperative society. That’s why all kinds of demands are fulfilled in the same place. Its activities are so scattered. Coordination and orderly control is the main problem of this organization.