Railway Cooperative

Item	Details
First Railway Cooperative Society	Indian Railways Cooperative Credit Society (IRCCS), 1955
Apex Body	Railway Board → Ministry of Co-operation (w.e.f. 2021)
Umbrella Federation	All-India Railway Co-operative Federation (AIRCF) – 1965
Total Railway-affiliated societies (FY 24)	≈ 1,850
Membership	100 % Railway employees (spouse/children also eligible)
Minimum share capital	₹ 100 (varies by society)
Dividend ceiling as per MSCS Act	20 % p.a.
Audit	Statutory audit by Co-operative Dept. + Concurrent audit by RRB
Deposit Insurance	Upto ₹ 5 lakh by DICGC
Core Banking Software	“Rail Sahakar” – custom CBS by CRIS
Highest deposit society	Northern Railway Employees’ Co-operative Credit Society (₹ 2,400 cr AUM)
Model Housing Society	Rail Vihar CGHS – Delhi (1,280 flats)
Canteen Stores run by	Railway Co-operative Canteen Societies (RCCS) under JCM Scheme
Consumer society brand	“Rail-neer Savera” – discounted groceries for staff
e-Governance portal	https://railwaycoop.gov.in – launched 2022
Dispute redressal	MSCS Act 2002 → Co-operative Tribunal → High Court
Interest on FD (FY 24)	7.0–7.5 % (0.5 % bonus for senior citizens)
Loan cap for house building	60× monthly pay or ₹ 30 lakh, whichever lower
Recovery of dues	Through salary bill – Rule 32 of MSCS Rules
Recent merger	47 loss-making societies merged into 8 zonal “Amalgamated Multi-state” societies (2023)

Railway co-operatives are Multi-State Co-operative Societies (MSCS) registered under the MSCS Act 2002.
Only Railway employees (gazetted & non-gazetted) can become shareholders; contract workers are excluded.
Dividend is declared out of “Net Profit after Statutory Reserve (25 %) & Bad-debt reserve (10 %)”.
Salary-bill deduction (SBD) system ensures 100 % recovery of thrift & loan instalments.
Railway Board issues “Model Bye-laws” which each society must adopt verbatim.
Co-operative credit societies are exempt from Income-tax u/s 80P but pay GST on services.
“Rail Sahakar” CBS interfaces with IPAS & PAO-EG for real-time salary upload.
Railway co-operatives can accept deposits from non-members (public) upto 30 % of own funds.
Every society must hold AGM within 120 days of closing (30 Sept) and file MSCS-9 within 60 days.
Election is by secret ballot under MSCS Election Rules 2002; CEO cannot contest.
Co-operative canteens are exempt from GST on food sold inside Railway premises.
NABARD refinance window is not available to Railway credit societies (they are urban).