Memorandum of Agreement Signed to Ensure Efficiency, Accuracy, and Transparency in Election Funds
In a move toward enhancing efficiency and transparency in election-related financial processes, the Maharashtra State Co-operatives Election Authority has entered into a memorandum of agreement (MoU) with the State Bank of India (SBI) for the management of funds associated with ‘Notified Co-operative Societies Election Fund.’
The objective of this collaboration is to streamline financial operations, ensuring a swift, error-free, and transparent process.
The MoU was formalized in the presence of Election Authority Commissioner Jagdish Patil, Secretary Vasant Patil, and State Bank of India Deputy General Manager Navin Mishra.
Under this arrangement, funds deposited for the conduct of co-operative housing society elections are directly credited to the election officer’s account, subsequently utilized for election-related purposes.
Furthermore, an online portal has been developed to facilitate the approval of election expenses by all relevant officials involved in the electoral process. This digitized system aims to enhance efficiency and accountability in managing election funds.
The election authority’s jurisdiction extends to conducting elections for co-operative housing societies comprising more than 250 members, district agriculture produce committees, and all co-operative institutions, including banks.
