COOPERATIVE SECTOR IN ORISSA

AN OVERVIEW - COOPERATIVE SECTOR IN ORISSA
Co-operation endeavours to empower isolated individuals who are individually weak , to come together in a democratic manner on the basis of equality to achieve the desired common economic interests. The Co-operative Planning committee defined co-operation "as a form of organisation in which persons voluntarily associate together on a basis of equality for the promotion of their economic interests". The concept of co-operation emphasises on the collective action of individuals to achieve common goals which may not have been possible for one isolated individual. The principles of co-operation define the basic characteristics of any co-operative organisation. These principles form the common thread that run through all the co-operative societies which marginal variations.
HISTORY
Utkal Gourav Madhusudan Das organised first consumer co-operative store at Cuttack in 1898. Inspired by the initiative of Utkal Gourav, Raibahadur Bidyadhar Panda, the Head Master of Subarnapur Middle Vernacular School, Banki, organised village credit co-operative society in 1903. Subsequently inspired by Sri Bala Mukunda Kanungo, the then Deputy Collector of Banki,Rai Bahadur Bidyadhar Panda travelled from village to village and organised 50 Cooperative Credit Societies which later federated to establish Banki-Dompora Central Cooperative Union in 1910. Later The Banki Dompara Central Cooperative Union became renamed as Banki Central Cooperative Bank. In 1906 the first Primary Urban Cooperative Bank was organised at Berhampur. Till the formation of a separate state of Orissa in 1936 the Coop. Societies were regulated by Bihar-Orissa Cooperative Act. After Independence "The Orissa Cooperative Societies Act" 1951 was enacted which was substituted by OCS Act 1962 with major amendments in 1991 and 1996. The Orissa Self-Help Cooperative Act 2001 has been enacted in 2002 to foster Cooperative Societies as self  help and democratically managed business enterprises.  Source : - THE REGISTRAR OF COOPERATIVE SOCIETY ORISSA