IFFCO stands for Indian Farmers Fertilizer Cooperative Limited. IFFCO is a large scale Multi-state cooperative society engaged in the business of manufacturing and marketing of fertilizers. It is India’s biggest cooperative society wholly owned by Indian Cooperatives.
Aim:
- To facilitates the Indian Farmers by the timely supply of reliable, best and high-quality agriculture products and services in an eco-friendly manner and provides other services to improve the welfare of the farmers.
Objectives:
- The services which are IT-enabled are provided to the Farmers for the improvement in rural India.
- To put in some strategies for the effective use of IT-enabled services.
- Also, extend these IT-enabled services to the members of IFFCO.
- It also ensures that it provides reliable services for suppliers to IFFCO.
Powers and Functions of IFFCO:
General Body
- The selection and removal of members of IFFCO.
- Any amendment or repeal or enactment of any new or existing bye-laws.
- Examine the annual report and statement of accounts of last year and analysis of activities of Current year.
- Appoint the Auditors.
- Annual budget is also Analyze and approved.
- Analyze the Utilization of Reserve and funds and official deficit.
Managing Committee
- This committee will Recommend the approvals given by the General body.
- It mainly responsible for the Appointment, Suspension and removal of the MD and Functional Directors also appoints trustees, attorneys and agents of IFFCO.
- Grant permission to persons to sign Bills, Notes, Receipts on behalf of IFFCO.
Chief –Executive Committee
- Control over the administration of the IFFCO.
- Summon meetings of BOD/EC/Sub-Committees.
- Supervise the management and day to day business activities of the IFFCO.
- Assigns the duties of the employees and also responsible for the endorsement and transfer of Promissory notes and securities.
Executive Committee
- To examine the Board and estimates the budget.
- Approved Investment Proposals of caporal nature up to 1.5 crores and also grant loans to the members.
- It refers Claims and Demands and Grant execution of Documents on behalf of IFFCO.
Marketing Sub-Committees
- This committee is responsible for the Marketing Strategy of the IFFCO.
- It constructs and recommends the Marketing policy for the sale.
- It lay down the guidelines for distribution margins and strategy.
- To suggest BOD For approval the matters relating to the pricing policy.
IFFCO MD Quiz:
Q: 1: Which committee of IFFCO is mainly responsible for the appointment of MD and Functional Director?
(a) Managing Committee
(b) Cheif-Executive Committee
(c) Executive Committee
(d) Marketing Sub-Committee
Q:2: Indian Farmers Fertilizer Cooperative Limited(IFFCO) is founded in which year?
(a) 1965
(b) 1966
(c) 1967
(d) 1968
Q: 3: Who is the MD of IFFCO?
(a) Mr. R. P. Singh
(b) Dr U. S. Awasthi
(a) Managing Committee
(b) Cheif-Executive Committee
(c) Executive Committee
(d) Marketing Sub-Committee
Q:2: Indian Farmers Fertilizer Cooperative Limited(IFFCO) is founded in which year?
(a) 1965
(b) 1966
(c) 1967
(d) 1968
Q: 3: Who is the MD of IFFCO?
(a) Mr. R. P. Singh
(b) Dr U. S. Awasthi
(c) Mr. Yogendra Kumar
(d) Mr. A. K. Singh
