The Government of Maharashtra, on July 22, 2026, notified the Maharashtra Co-operative Societies (Second Amendment) Act, 2026, amending the Maharashtra Co-operative Societies Act, 1960 to broaden access to membership in primary agricultural credit co-operative societies and facilitate lending by non-agricultural credit co-operative societies.
The amendment inserts a proviso in Section 23, requiring that a Primary Agricultural Credit Co-operative Society (PACS) shall not refuse membership to a person who resides within its area of operation, owns at least 10 R (0.10 hectare) of agricultural land, and is not already a member of another PACS operating in the same area. This aims to improve access to co-operative membership for eligible agricultural residents.
Further, a proviso has been inserted in Section 144-11A, enabling non-agricultural co-operative credit societies to disburse gold loans to persons who are not shareholder members by admitting them as nominal members of the society. This amendment expands the scope of lending while providing a mechanism for extending financial services to non-shareholder borrowers.
[Act No. XLI]
