Membership policy for Pride Multi State Credit Co-Operative Society Ltd that incorporates the restriction and regulation on membership based on membership norms of the Society as per Central Registrar Norms in multi-state credit cooperative society in the eligible states for membership.
Any person who is 18 years or older and is a resident of the following 16 states in India where the Society is having Operational Licence which are- Kerala, West Bengal, Andhra Pradesh, Maharashtra, Chhattisgarh, Odisha, Jharkhand, Bihar, Sikkim, Meghalaya, Tripura, Assam, Uttar Pradesh, Rajasthan & Delhi and or any state where Society have license to operate may become a Ordinary Member in case of depositing or a Nominal Member for Loan guarantee of Pride Multi State Credit Co-Operative Society Ltd
An individual can be a member of only one multi-state credit cooperative society.
Individuals who are engaged in illegal activities or have criminal records are not eligible for membership.
Members of the immediate family of an eligible individual, including spouses, children, parents, and siblings, are also eligible for membership.
Interested individuals must complete a membership application form, which can be obtained from the Society's office or from the Society's website.
The completed application form must indicate whether the applicant wishes to become a Member or a Nominal Member.
The application must be accompanied by the appropriate membership fee: Rs. 150/- for Membership or Rs. 100 for Nominal Membership.
The application must be approved by the Board of Directors before membership is granted. The Board of Directors may reject an application without providing a reason based on merit of the applicant.
A one-time membership fee of Rs. 150/- must be paid at the time of application for Membership. Out of the 150/- paid Rs 100/- will be allotted to member as 10 shares of Rs 10/- each and the remaining is treated as documentation and admission charges along with applicable GST
A one-time membership fee of Rs. 100/- must be paid at the time of application for Nominal Membership.
The Share Value in Normal shares is refundable only after 2 Years as per the bye law of the Society, wherein the nominal share amount is non-refundable.
Members must purchase a minimum number of shares, as determined by the Board of Directors. In the case of Pride Credit Society it is 10 shares of 10/- each to obtain membership. For loan customers the share amount will be as per the bye law specifications.
Nominal Members are not required to purchase shares.
The purchase of shares represents ownership in the Co-operative and gives members a voting right in the proceedings of the Society.
The price of shares is determined by the Board of Directors and may be amended from time to time after approval from the regulatory authority- Central Registrar of Co-Operative Societies through amendment in the bye law of the Society.
Members may purchase additional shares at any time.
The limit of holding the shares of the Society is restricted to maximum 1/5th of the total paid up share capital for any individual as per co –operative principals.
Members must pay annual dues to maintain their membership in good standing.
The amount of annual dues will be determined by the Board of Directors and may be amended from time to time.
Members who do not pay their annual dues within 90 days of the due date may have their membership terminated after the Board has decided so.
Members must pay annual dues to maintain their membership in good standing.
The amount of annual dues will be determined by the Board of Directors and may be amended from time to time.
Members who do not pay their annual dues within 90 days of the due date may have their membership terminated after the Board has decided so.
A terminated member may apply for reinstatement within one year of termination.
Reinstatement will be at the discretion of the Board of Directors and may be subject to the payment of back dues, a reinstatement fee, and other conditions as determined by the Board.
Members are responsible for keeping their contact information up-to-date with the Society which include their available phone number and e mail id
Members must promptly notify the Society of any changes to their contact information, including their address, phone number, and email address.
Members are responsible for keeping their account with the Society in good standing.
Nominal Members are responsible for keeping their contact information up-to date with the Society.
Nominal Members must promptly notify the Society of any changes to their contact information, including their address, phone number, and email address.
Nominal Members are responsible for ensuring that their account with the Society is in good standing.
The Board of Directors may make changes to this policy from time to time.
and Nominal Members will be notified of any changes to this policy.
Members and Nominal Members are responsible for keeping themselves informed of changes to this policy.
All members of the Pride Multi State Credit Co-Operative Society Ltd, including the Board of Directors, Advisors to the Board CEO, COO, Employees and other key stakeholders, shall conduct themselves in a manner that is professional, respectful, honest, and transparent. They shall comply with all laws and regulations governing cooperative societies, including the Multi State Cooperative Societies Act.
All members of the Pride Multi State Credit Co-Operative Society Ltd shall keep all confidential information of the society and its members confidential. They shall not disclose any confidential information to any third party, unless required by law.
All members of the Pride Multi State Credit Co-Operative Society Ltd shall avoid any conflict of interest that may arise between their personal interests and those of the society or its members. They shall not use their position in the society for personal gain.
All members of the Pride Multi State Credit Co-Operative Society Ltd shall not discriminate against any member or employee of the society based on their race, color, religion, gender, age, national origin, disability, or any other protected characteristic.
All members of the Pride Multi State Credit Co-Operative Society Ltd shall treat all members and employees of the society fairly and impartially.
They shall not use their position in the society to discriminate against any member or employee.
All members of the Pride Multi State Credit Co-Operative Society Ltd shall ensure that all financial transactions of the society are transparent and accurate.
The amount of annual dues will be determined by the Board of Directors and may be amended from time to time.
Members who do not pay their annual dues within 90 days of the due date may have their membership terminated after the Board has decided so.
All members of the Pride Multi State Credit Co-Operative Society Ltd shall comply with all laws and regulations governing cooperative societies.
They shall ensure that all activities of the society are conducted in a lawful manner.
All members of the Pride Multi State Credit Co-Operative Society Ltd shall take responsibility for their actions and decisions.
They shall be accountable to the society and its members for any actions or decisions that may affect the society or its members.
All members of the Pride Multi State Credit Co-Operative Society Ltd shall conduct themselves in an ethical manner.
They shall adhere to the highest standards of ethical conduct in all their dealings with the society and its members.
All members of the Pride Multi State Credit Co-Operative Society Ltd shall strive to improve their knowledge, skills, and abilities.
They shall participate in professional development activities that will enhance their effectiveness in serving the society and its members.
The Board of Directors of Pride Multi State Credit Co-Operative Society Ltd shall exercise their duties in accordance with the Multi State Cooperative Societies Act.
They shall act in the best interests of the society and its members, and avoid any conflicts of interest.
The CEO, COO and other key stakeholders of Pride Multi State Credit Co-Operative Society Ltd Limited shall act in accordance with the policies and guidelines established by the Board of Directors.
They shall act in the best interests of the society and its members, and avoid any conflicts of interest.
Pride Multi State Credit Co-Operative Society Ltd shall hold an Annual General Meeting in accordance with the Multi State Cooperative Societies Act.
All members shall be provided with notice of the meeting and the agenda, and shall have the opportunity to participate and vote.
Any member who has a complaint or grievance related to the conduct of any member of the society, including the Board of Directors and CEO, may submit a written complaint to the society's Grievance Redressal Committee.
The Committee shall investigate the complaint and take appropriate action in accordance with the society's policies and procedures.
Any member of Pride Multi State Credit Co-Operative Society Ltd who violates the Code of Conduct shall be subject to disciplinary action, which may include termination of membership or legal action, as appropriate.
Pride Multi State Credit Co-Operative Society Ltd shall maintain records of all meetings, decisions, and actions taken by the society and its members.
These records shall be maintained in accordance with the Act and other relevant laws and regulations.
Pride Multi State Credit Co-Operative Society Ltd shall comply with all reporting requirements set forth in the Act and other relevant laws and regulations.
The society shall submit annual reports to the Registrar of Cooperative Societies, as well as any other reports required by law.
Any disputes related to the conduct of Pride Multi State Credit Co-Operative Society Ltd or its members shall be resolved through mediation or other alternative dispute resolution methods, as appropriate.
If mediation is not successful, the dispute may be referred to the Registrar of Cooperative Societies for resolution in accordance with the Act and other relevant laws and regulations which is arbitration as per the bye law specifications of Pride Multi State Credit Co-Operative Society Ltd.
The Code of Conduct for Pride Multi State Credit Co-Operative Society Ltd shall be reviewed periodically by the Board of Directors to ensure that it remains relevant and effective.
Any necessary updates or revisions shall be made in accordance with the Act and other relevant laws and regulations.
This Code of Conduct for Pride Multi State Credit Co-Operative Society Ltd is designed to promote ethical conduct, transparency, and accountability among all members of the society, including the Board of Directors, CEO, COO and other key stakeholders.
Any specific policy or byelaws in addition to these general guidelines, if any shall be read along with this code of Conduct.
By adhering to these guidelines, the society can ensure that it remains compliant with the Multi State Cooperative Societies Act and other relevant laws and regulations, while promoting the savings and availability of credit among its members.
Pride Multi State Credit Co-Operative Society Ltd is a Multi-State Credit Cooperative Society registered under the Multi State Cooperative Societies Act, 2002. Its main objective is to promote savings and provide credit facilities to its members.
The Society is committed to promoting a fair and transparent credit culture while providing financial assistance to its members. The Fair Practice Code ( FPC) lays down the standards for fair business and lending practices to be followed by the Society while dealing with its members.
This FPC is applicable to all members of the Society and is subject to review from time to time.
The Society shall admit members in accordance with the provisions of its bylaws and the Multi-State Cooperative Societies Act, 2002.
The Society shall provide a copy of its bylaws to every member at the time of admission and shall ensure that the member understands the terms and conditions of membership.
The Society shall not discriminate against any member on the basis of gender, religion, caste, creed, or any other basis.
The Society shall provide complete and accurate information about its services, terms, and conditions to its members.
The Society shall disclose all charges, fees, and penalties applicable to its services and shall ensure that the member understands the same.
The Society shall ensure that all information related to a member’s account is kept confidential and shall not disclose the same to any third party without the member’s consent.
The Society shall provide loan application forms to its members in a clear and understandable language.
The Society shall specify the documents required to be submitted along with the loan application.
The Society shall process loan applications in a timely manner and shall communicate the decision to the member within a reasonable time.
The Society shall ensure that loan appraisal is done in a fair and transparent manner and that all relevant factors are considered.
The Society shall communicate the loan sanction letter to the member, clearly indicating the terms and conditions of the loan.
The Society shall obtain the member’s consent for the terms and conditions of the loan before disbursement including the consent to avail the credit credentials of the members and their co applicants.
The Society shall disburse the loan amount to the member only after obtaining all the required documents and ensuring that all the terms and conditions of the loan are met.
The Society shall ensure that the loan amount is disbursed in the name of the borrower and not to any third party.
The Society shall follow a non-coercive and fair recovery process.
The Society shall not resort to undue harassment or intimidation of the member or their family members.
The Society shall ensure that all communication related to recovery is made in a polite and respectful manner.
The Society shall disclose the details of the recovery process, including the procedure for auction of pledged assets, to the borrower at the time of loan sanction.
In case of gold loans, the Society shall provide an option to the borrower to request the sale of the pledged gold through public auction in case of default. The proceeds from the auction shall be applied towards the outstanding loan amount.
The Society shall have a Grievance Redressal Mechanism in place for resolving any complaints or grievances raised by its members.
The Society shall appoint a Grievance Redressal Officer (hereinafter referred to as “GRO”) to handle complaints or grievances.
The Society shall provide the contact details of the GRO to its members and shall ensure that complaints or grievances are addressed in a timely and effective manner.
The Society shall ensure that all complaints or grievances are resolved within a maximum period of thirty days from the date of receipt.
The Society shall maintain transparency and accountability in all its operations and shall ensure that all its dealings with members are conducted in a fair and honest manner.
The Society shall ensure that all its policies and procedures are in compliance with the relevant laws and regulations.
The Society shall strive to continuously improve its services and processes to better serve its members.
The Society is committed to promoting a fair and transparent credit culture and providing financial assistance to its members in a responsible manner.
The Society shall ensure that this Fair Practice Code is effectively implemented and complied with by all its staff and members.
The Society shall periodically review and update this Fair Practice Code to ensure that it remains relevant and effective.
The Society shall ensure that all members are aware of the Fair Practice Code.
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.
However, if informal resolution is not possible, members may raise a dispute under this policy.
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.
The dispute resolution process consists of two steps: mediation and arbitration.
Pride Multi State Credit Co-Operative Society Ltd is committed to promoting ethical conduct, transparency, and accountability among all members of the Society, including the Board of Directors, CEO, COO, employees, Business Affiliates, BCs and contractors.
As part of this commitment, the Society has established a Vigil Mechanism and Whistle Blower Policy to facilitate the reporting of any suspected fraud, corruption, or other unethical conduct and to protect whistleblowers from retaliation or victimization.
The objectives of the Vigil Mechanism and Whistle Blower Policy are to:
This policy applies to all members of Pride Multi State Credit Co-Operative Society Ltd, including the Board of Directors, CEO, COO, Employees, Business Affiliates, BCs and contractors.
Any member who wishes to report suspected fraud, corruption, or other unethical conduct may do so by submitting a written complaint to the Society's designated Whistle Blower Officer.
The complaint should include the following information:
Complaints may be submitted anonymously if desired. However, anonymous complaints must contain sufficient information to allow for a meaningful investigation.
All complaints received under this policy will be thoroughly investigated by the Whistle Blower Officer or other designated investigator. The investigation will be conducted in a confidential and objective manner, and all parties involved will be treated with fairness and respect.
If the investigation confirms that misconduct has occurred, appropriate action will be taken, which may include disciplinary action, termination of membership, or legal action, as appropriate.
The complainant will be kept informed of the progress and outcome of the investigation to the extent that is feasible and appropriate. However, the Society reserves the right to maintain confidentiality to the extent necessary to protect the privacy and rights of all parties involved.
Pride Multi State Credit Co-Operative Society Ltd prohibits retaliation against any member who reports suspected fraud, corruption, or other unethical conduct in good faith.
Any member who engages in retaliation or victimization will be subject to disciplinary action, which may include termination of membership or legal action, as appropriate.
The Society shall constitute a Audit Committee consisting of at least three members. The Committee shall be responsible for:
The Audit Committee shall be responsible for maintaining the confidentiality of all complaints and investigations to the extent necessary to protect the privacy and rights of all parties involved.
This Vigil Mechanism and Whistle Blower Policy shall be reviewed periodically by the Board of Directors to ensure that it remains relevant and effective.
Any necessary updates or revisions shall be made in accordance with the Act and other relevant laws and regulations.
By establishing a Vigil Mechanism and Whistle Blower Policy, the Society aims to create a culture of transparency and accountability, and to promote the highest standards of ethical conduct among all its members.
The purpose of this policy is to establish a systematic and organized approach to the internal audit of the society with a view to ensure the accuracy, reliability, and completeness of the society's financial and operational information, compliance with applicable laws and regulations, and the effectiveness of internal controls.
The internal audit activities of the society shall cover all branches, RO and Corporate Office, other places of business including Subsidiary companies, information systems, securities provided for loans including pledged gold jewellery, Documents, Collaterals and other areas as deemed necessary by the Audit Committee of Board of Directors.
The internal audit activities shall also include the control of frauds.
The Audit Committee of Board of Directors shall be responsible for overseeing the internal audit activities of the society.
The Audit Committee shall appoint an Internal Auditor who shall be suitably assisted by the Internal Audit Department.
The Internal Auditor shall report directly to the Audit Committee.
Audit Committee consists of the Chairman, Vice Chairman, CEO, COO and Chartered Accountant who is overseeing the Audit.
The branches of the society shall be audited at least once a quarter.
The Audit Committee may, however, choose to conduct audits more frequently as deemed necessary.
The other areas of the society shall be audited as deemed necessary by the Audit Committee.
The Internal Audit Committee may seek the help of external agencies, including information system audit firms, forensic audit firms, etc. as needed.
The objectives of the internal audit activities shall be to:
The objectives of the internal audit activities shall be to:
The above policy is subject to review and revision from time to time by the Audit Committee of Board of Directors of Pride Multi State Credit Co-Operative Society Ltd
Pride Multi State Credit Co-Operative Society Ltd is committed to implementing effective measures to prevent money laundering and terrorist financing activities in accordance with the Prevention of Money Laundering Act, 2002 (PMLA), and the guidelines issued by the Government Authorities from time to time.
This AML and KYC Policy outlines the Society's approach towards AML and KYC measures and procedures in place to ensure compliance with the applicable laws and regulations.
The objectives of the Society's AML and KYC Policy are:
To identify and verify the identity of the members, beneficial owners, and authorized signatories of the Society.
To understand the nature of the business relationship and the transactions undertaken by the members.
To identify and report any suspicious activities, including attempted or completed transactions that may involve money laundering, terrorist financing, or other illegal activities.
To ensure compliance with the PMLA and other relevant laws, regulations, and guidelines.
The Society will only accept members who have completed the KYC process and provided all the required documentation. The Society will conduct a risk-based assessment of the member's profile and transactions to determine the level of due diligence required.
- Aadhar is mandatory for all memberships in the Society
- Pan card to be collected from members at the time of membership as well ( for exceptional cases when Pan Card is not there form 60 to be taken from the member)
The Society will obtain the following information and documents for identification and verification purposes:
The Society will conduct a risk assessment of the members based on the following criteria:
The Society will continuously monitor the members' transactions and update their KYC information periodically. The Society will also verify the source of funds and the purpose of transactions.
The Society will report any suspicious transactions to the Financial Intelligence Unit - India (FIU-IND) as per the guidelines issued by the RBI.
The Society will maintain proper records of all transactions and KYC documents for a minimum of 10 years as per the PMLA.
The Society will provide regular training to its employees and staff on AML and KYC policies and procedures.
The Society has assigned the COO to be the compliance Office as well who will be responsible for ensuring compliance with the PMLA and other relevant laws and regulations.
The Society recognizes the importance of implementing effective AML and KYC policies and procedures to prevent money laundering and terrorist financing activities. The Society will review and update its policies and procedures periodically to ensure compliance with the applicable laws and regulations.
The purpose of this policy is to ensure that information technology (IT) systems and disaster recovery and response (DRR) processes are in place to maintain business continuity, confidentiality, integrity, and availability of information assets.
This policy applies to all IT resources, including hardware, software, networks, and data, and all employees, contractors, consultants, and others who use these resources on behalf of the society.
The IT department is responsible for maintaining and updating the IT systems and for ensuring that appropriate security measures are in place. The DRR team is responsible for developing, implementing, and testing disaster recovery plans.
All employees are responsible for complying with this policy and for reporting any suspected security incidents or vulnerabilities to the IT department.
Access to the society's IT resources should be restricted to authorized personnel. User accounts should be created with the principle of least privilege, and strong passwords should be enforced.
Information security policies should be implemented to protect the confidentiality, integrity, and availability of the society's data. This includes regular backups, encryption, and access controls.
Network security policies should be implemented to protect against unauthorized access and data breaches. This includes firewalls, intrusion detection systems, and regular network scans.
Employees should follow best practices for email security, including not opening suspicious emails or attachments, using strong passwords, and avoiding using personal email for work purposes.
Employees should use social media and other online activities responsibly and in accordance with the society's code of conduct. Employees should avoid sharing confidential information and should not engage in activities that could harm the society's reputation.
The society should have a business continuity plan that outlines procedures for responding to disasters and ensuring business continuity. The plan should be reviewed and tested regularly.
Regular backups should be performed to ensure that critical data is not lost in the event of a disaster. The backups should be stored securely offsite.
The society should have an incident response plan that outlines procedures for responding to security incidents. The plan should be reviewed and tested regularly.
The society should have an emergency response plan that outlines procedures for responding to emergencies, such as natural disasters or pandemics. The plan should be reviewed and tested regularly.
The society should comply with all applicable laws and regulations related to IT security and disaster recovery and response, including but not limited to the Information Technology Act, 2000, and the Disaster Management Act, 2005.
All employees should receive regular training on IT security and disaster recovery and response policies and procedures.
The IT department should regularly monitor the IT systems for vulnerabilities and threats and should conduct regular security assessments. The DRR team should regularly review and test disaster recovery plans. This policy should be reviewed and updated regularly to ensure its effectiveness and relevance.
The Society may use credit scoring models to assess the creditworthiness of the borrower and decide on the interest rate to be charged. The credit score may be based on factors such as the borrower's credit history, income, employment stability, and other relevant factors.
In the event of default by the borrower, the Society will take necessary steps to recover the outstanding amount. This may include legal action, asset seizure, and auction of collateral. The Society may also charge penal interest and other charges as deemed appropriate for delayed payments or non-payment.
The Society may charge service charges for various services provided to the borrower such as processing fees, prepayment charges, late payment charges, and other charges as deemed appropriate.
In the event of auction of collateral, the Society may charge communication charges and other charges as deemed appropriate.
The Society may charge a minimum interest rate of 7 days or Rs. 50, whichever is higher, for loans and credit facilities.
Interest on loans and credit facilities will be calculated on a diminishing balance basis.
The Society reserves the right to revise the interest rates and charges at any time as deemed appropriate by the Board of Directors.
The Society will communicate the interest rates, charges, and other terms and conditions of the loans and credit facilities to the borrowers in a clear and transparent manner.
The Society will have a grievance redressal mechanism in place to address the grievances of the borrowers in a timely and efficient manner.
The Society will regularly update its interest and credit policies based on market conditions, regulatory changes, and other relevant factors to ensure the policies remain relevant and effective.
1.1 Pride Multi State Credit Cooperative Society Ltd recognizes the importance of protecting the privacy of its members and users.
1.2 This Privacy and Digital Content Policy outlines the Society's practices with respect to the collection, use, and disclosure of personal information and digital content.
2.1 The Society collects personal information from its members and users in order to provide financial services and conduct its business. Personal information may include name, address, contact information, financial information, and other information relevant to the Society's services.
2.2 The Society will only collect personal information that is necessary for the purposes of providing its services, and will obtain consent from individuals before collecting, using, or disclosing their personal information.
2.3 The Society will use personal information only for the purposes for which it was collected, or as otherwise permitted by law. The Society will not disclose personal information to third parties without the individual's consent, except as required by law.
3.1 The Society will take reasonable measures to protect personal information from unauthorized access, use, or disclosure.
3.2 The Society will use appropriate safeguards such as physical, administrative, and technical safeguards to protect personal information, and will regularly review and update its security measures to ensure they remain effective.
4.1 The Society may create and distribute digital content such as newsletters, emails, and social media posts.
4.2 The Society will ensure that all digital content is accurate, relevant, and complies with applicable laws and regulations.
5.1 The Society recognizes that email and social media can be useful tools for communication and business purposes. However, the Society expects its employees to use these tools responsibly and in accordance with the Society's policies.
5.2 Employees should avoid using their personal email or social media accounts for Society-related business. Employees should not engage in activities on social media that could reflect negatively on the Society, its members, or employees.
6.1 Individuals have the right to access their personal information held by the Society, and to request correction of any errors or omissions in their personal information.
6.2 The Society will respond to such requests in a timely manner, subject to any legal restrictions.
7.1 The Society will comply with all applicable laws and regulations with respect to the collection, use, and disclosure of personal information and digital content.
8.1 If you have any questions or concerns about the Society's Privacy and Digital Content Policy, please contact our Data Protection Officer at it@pmsccs.com
9.1 The Society may update this Policy from time to time to reflect changes in its practices, legal obligations, or other factors.
Passwords are an important aspect of computer security. They are the front line of protection for user accounts. A poorly chosen password may result in a compromise of Pride Multi State Credit Co-Operative Society Ltd. (herein referred to as “Society”) entire network. As such, all Society employees (including BC’s, Auditors and Consultants with access to Society systems) are responsible for taking the appropriate steps, as outlined below, to select and secure their password.
Identification and authentication access controls play an important role in helping to protect Information Systems. The purpose of this policy is to protect Information Systems by defining requirements for new passwords and changes to passwords.
This policy applies to all Pride Multi State Credit Co-Operative Society Ltd staff that utilize Information Systems with IDs and passwords (credentials). This policy applies whether Staff is using Pride Multi State Credit Co-Operative Society Ltd. Information Systems, Staff owned devices for Society approved work, or Staff use Information Systems of third party service providers for work related activities.
The IT Manager shall ensure:
This Policy applies to all Pride Multi State Credit Co-Operative Society Ltd related authentication activities including, but not limited to, the following:
When granting access for a new user/account:
Phrases are not the same as passwords. A phrase is a longer version of a password and is typically composed of multiple words. By converting some letters to numbers and special characters the phrase is even more secure.
When selecting a new password/phase, system administrators and users must select passwords/phrases that are long, strong, and complex. Where possible, Staff shall choose passwords/phrases that meet the following requirements:
Staff should not choose passwords/phrases that:
Staff with special system privileges, assigned by a transaction, program, process, or group membership, should select a unique password/phrase from other accounts held by that individual.
Staff shall follow security guidelines to ensure passwords/phrases are not compromised. Security training and awareness programs shall ensure Staff is:
Passwords must not be:
If a Staff member believes that their password/phrase has been compromised or made available to others, the Staff member must immediately change their password and notify IT security Staff. If someone demands a password, refer them to this policy or have them contact the IT Department.
Passwords/phrases must be changed on a regular basis according to the following schedule:
When selecting a new password/phrase, Staff shall not repeat any of their prior five passwords
Application developers must ensure programs contain the following security precautions:
Password Protection Standards
Don't reveal a password
Any Staff member found to have violated this policy may be subject to disciplinary action, up to and including termination as per IT Act 2000 and Amendments, Data protection Act and other subordinating clauses.
This policy is to be distributed to all Staff members of Pride Multi State Credit Co Operative Society Ltd, across its Head office, Regional Office , Branches and Member Service Centres.
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