also inform the general public about the nature and benefits of cooperatives. vi. Cooperation among Cooperatives Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional and international structures. vii.
Concern for Community While focusing on member needs, cooperatives work for the sustainable development of communities through policies and programs accepted by the members. The flag is a common symbol of the seven color rainbow of the International Co- operation Movement. In , the International Cooperative Alliance (ICA) organized the International Co-operative logo and a flag on the first co-operative day of July in the city of Eszhen, Germany. commerce - - .
. PM . Features of Cooperatives The following are some of the important principles of co-operative societies. i.
Voluntary Membership Any person can become the member of the society and can leave it any time. ii. Equal Rights Each member of the society has an equal right to vote and ownership. Each shareholder has one vote.
iii. Democracy The principle of democracy is adopted while making the decisions. The decision of the majority is honored. iv.
Honesty It is the basic principle of this society. Its members should be honest. Selfish people can not run the business of cooperative society. v.
Mutual Confidence The foundation of Cooperative society is laid on mutual confidence. Members of the society should trust each other and work like a team. vi. Welfare Main Objective Its main objective is to provide goods and services to its members at lower price.
vii. Cash Payment Credit team is prohibited and goods are supplied to its members on cash payment. viii. Economy The member of the society should act upon the principle of economy.
They should not misuse capital of the society and always keep in view best interest of the society. ix. Distribution of Profit The profit can be distributed among the members according the cooperative act. One fourth ( / ) of the profit can be kept in reserve.
Then ( %) of the profit can be used for providing facilities to the members. x. Self