Dispute Resolution Policy

1. INTRODUCTION:

1.1 The Society recognizes the importance of resolving disputes in a timely and effective manner. Whenever possible, members are encouraged to first attempt to resolve any issues they may have with the Society through informal means, such as speaking with the
concerned department of the Society.

1.2 However, if informal resolution is not possible, members may raise a dispute under this policy.

1.3 The dispute resolution policy covers disputes related to services, schemes, and products provided by the Society, as well as disputes related to credits given to members and deposits given by members to the Society.

1.4 The dispute resolution process consists of two steps: mediation and arbitration.

A.   MEDIATION:

(i) If a dispute is raised, the Society will appoint a mediator from the panel of persons experienced in matters of cooperation, credit, banking, law, and professionals, who will be selected by the Board of Directors for each state in which the cooperative operates.

(ii) The panel will be decided based on consultation with selected and prominent members of the Society.

(iii) The mediator's role is to facilitate communication between the parties and assist in finding a mutually acceptable resolution to the dispute.

(iv) Mediation is a non-binding process, and the parties are free to accept or reject any proposed resolution.

(v) The mediation process will begin within 30 days of the dispute being raised and will be completed within a reasonable time frame.

B.   ARBITRATION:

(i) If the dispute cannot be resolved through mediation, it will proceed to arbitration within 60 days of the dispute being raised. The arbitration process will be binding and compulsory, and legal matters will be subject to the jurisdiction of the district or courts having power over the place where the state head office of the Society is located.

(ii) The panel for arbitration will be the same as the panel for mediation. The arbitrator's role is to make a final and binding determination of the dispute. The parties will have the opportunity to present their case and any relevant evidence to the arbitrator.

(iii) The Society is committed to resolving disputes in a fair and impartial manner and will make all reasonable efforts to ensure that the dispute resolution process is carried out in a timely and efficient manner.

2. CONCLUSION:

(i) Members are encouraged to make use of the dispute resolution policy whenever necessary.

(ii) The Society is committed to ensuring that all disputes are resolved in a manner that is fair and equitable to all parties involved.