Co-Operative Credit in Gwalior State: A Scheme for Developing Co-Operative Movement in Gwalior for Improvement of Agriculture and Advancement of Commerce and Manufactures in the State

tHE interests of the State are inextricably bound-up with the prosperity of the cultivator and the problem of the organisation and supply of sufficient capital is of Considerable importance in connection with the improvement of agriculture and the development of industries in the State. [...] One of the principal reasons why the needs of the agriculturist section of the population have not yet received due recognition is perhaps the extreme insignificance of most of the individual units of agricultural production. [...] 8. When the reserve fund of a rural coperative society has reached a figure that will enable its members to carry oif the business of the society without borrowing money from the State or the public the Inspector-General of Co-operative Societies would have disCretion to refund to the 'members the amount contributed by them in the way of share capital. [...] The' better the status of a member the larger would be the loan that he would require and the greater the number of shares that he would try to have The panehayat may profitably look to a man's general business and dealings with the society in fixing the maximum number of shares that he should hold. [...] Langley claims that the %mount of indebtedness already cleared off by means of the co.operative societies in the Punjab is about one crore of rupees; the total indebtedness of the people within the influence of the 3 261village cooperative societies in the Punjab is computed at about two crores apart from mortgages.