Adarsh Credit Cooperative Society (ACCS) was a multi-state credit cooperative society based in Ahmedabad, India, which operated until its liquidation. The society had a vast network of advisors or agents who facilitated various financial services to its members. So, in this article Adarsh Credit Cooperative Society agent commission chart.
Adarsh Credit Cooperative Society Agent Commission Chart
Table of Contents
While specific commission structures were not publicly disclosed, agents typically earned commissions based on the financial products they promoted. Here’s a general overview:
| Product Type | Commission Structure |
|---|---|
| Fixed Deposits (FDs) | Percentage of the deposit amount, varying with tenure and amount. |
| Recurring Deposits (RDs) | Commission based on the monthly installment amount and duration. |
| Loan Products | Commission for facilitating loan disbursements, possibly a percentage of the loan amount. |
| Membership Enrollment | Fixed amount per new member enrolled. |
Note: The exact commission percentages and structures were subject to internal policies and may have varied over time.
Important Considerations:
- Regulatory Actions: In December 2018, the Central Registrar ordered the winding up of ACCS due to financial irregularities. Subsequently, the Enforcement Directorate (ED) attached assets worth over ₹2,000 crore in connection with money laundering investigations.
- Advisor Portal: ACCS had developed an Advisor Portal where agents could monitor their business status and commission calculations.
FAQ:
Q. What was the role of an ACCS agent?
A. ACCS agents were responsible for promoting the society’s financial products, enrolling new members, and facilitating deposit and loan services.
Q. How were commissions calculated for agents?
A. Commissions were typically calculated based on the type and volume of financial products sold or facilitated by the agent.
Q. Is ACCS still operational?
A. No, ACCS was ordered to be wound up in 2018 due to financial irregularities and is currently under liquidation.
Q. Are agents or investors able to recover their funds?
A. Recovery of funds is subject to the liquidation process overseen by the appointed liquidator. Affected parties should refer to official communications from the liquidator or regulatory authorities for updates.