THE BHABHA ATOMIC RESEARCH CENTRE EMPLOYEES' CO-OPERATIVE CREDIT SOCIETY LTD. MUMBAI
Chhatrapati Shivaji Maharaj Dr. B. R. Ambedkar Homi J. Bhabha
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The Bhabha Atomic Research Centre Employees' Co-operative Credit Society Ltd serves its members with practical savings, deposit and credit facilities. The website presents essential member information in a clear, professional and accessible format.

OBJECTIVE

  • To encourage co-operation amongst the members
  • To enable its members to obtain loans on reasonable terms
  • To enable members to save of their income in a safe and convenient way
  • To lend money from funds to be created by means specified hereinafter with interest to the members of the Society
  • To create a welfare fund for the members as well as staff of the Society
  • To grant Loan upto Rs.50 Lakhs as per the salary limit of the members
  • To do such other things incidental or conducive to the attainment of all or any of the above objects

MEMBERSHIP

No person shall be a member unless he/she complies with the following provisions of Section 22 of the MCS Act,1960

  • He / she should be a permanent employee in Bhabha Atomic Research Centre, Department of Atomic Energy and its constituents units including aided institutes
  • He / she should comply with the conditions prescribed in the “Act”, “Rules” and “Bye-laws”
  • He / she should give authority letter to Employer / Management for deduction of salary as per Section 49 of MCS Act, 1960.
  • He / she is competent individual to contract under Indian contract Act, 1872
  • He / she should pay entrance fee of ₹ 100/- and also purchase one Share of the Society.
  • The Managing Committee gives approval to his/her written application for membership.
  • Download Membership Form
  • Details for NEFT & RTGS for payment for purchasing one share & entrance fee can be found on Contacts page

FUNDS

Funds shall be raised by all or any of the following ways:

  • Issue of Shares
  • Entrance Fees
  • Deposits form members
  • Monthly Subscription
  • Loans
  • Share capital contribution and other forms of state aid, subject to the provisions of the Maharashtra Co-operative Societies Act 1960 and the Rules there under

BUSINESS PROCEDURES

A member shall be eligible for four type of loans as follows:

  • Long Term Loan
  • Emergency Loan
  • Loan Against Deposit
  • Staff Loan