Our Society

Highlights

  • E-payment system is being implemented

  • Commencement of Monthly Deposit Schemes “NIDHI”

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Overview

BPCL Kochi Refinery Employee’s Co-operative Credit Society Limited, No.E-213 is registered on 10.11.1965 as a Co-operative Society under the Travancore -Cochin Co-operative Societies Act 1951 (Act X of 1952) and commenced on 29.11.1965. Its operation shall be confined to BPCL Kochi Refinery, Cochin Refineries Educational Aid Society School and BPCL Employees’ Co-operative Society Limited No-E226.

Objectives of our society

  • Encourage thrift and self-help among members.
  • Borrow of funds from members to be utilized for giving loans to the members for useful purpose on easy terms and at reasonable rates of interest.
  • Disseminate the knowledge of the co-operative principles and their realization as far as practicable.
  • Conduct of Monthly Deposit Scheme(MDS) and Hire Purchase scheme.
  • To promote the economic, social and material welfare for its members.

Membership

The liability of the members of the society shall be limited to the share capital subscribed by them. There are three types of members.

  • A"A" class member: Permanent employee of BPCL Kochi Refinery Ltd; Cochin Refineries Educational Aid Society School and BPCL Employees' Co-operative Society Ltd. No.E-226
  • B'B' Class membership shall be extended to:-
  1. Those who are retired from the service of BPCL Kochi Refinery, Cochin Refineries Educational Aid Society School and BPCL Employees' Co-operative Society Limited No.E-226.
  2. Dependants of BPCL Kochi Refinery, Cochin Refineries Educational Aid Society School and BPCL Employees’ Co-operative Society Limited No.E-226.

The term “dependants” shall refer to spouse.

  • C"C" Class membership shall be extended to:- BPCL Kochi Refinery’s allied institutions, Organizations established for the welfare of the employees of BPCL Kochi Refinery, Cochin Refineries Educational Aid Society School and BPCL Employees' Co-operative Society Limited No.E-226.

The rights and responsibilities of "B" and "C" class members are restricted only to operate deposit and to avail loans from fixed deposits. These members have no other rights such as to attend the general body meeting, to contest in the election to the board of directors, to receive any reports or dividend or any other rights enjoyed by BPCL Kochi Refinery, Cochin Refineries Educational Aid Society School and BPCL Employees' Co-operative Society Limited No.E-226.

No member shall be permitted to transfer his shares or create a charge in respect of the same in favour of another member except with the sanction of the Board of Directors. Transfer of shares shall not be effected before the lapse of one year of taking of such shares.