Powers and functions of the Board of Directors
The powers and functions of the Board of Directors shall be:
(a) To admit members;

(b) To elect a President and two Vice-Presidents from amongst the members of the Board. The terms of the President and the Vice-Presidents shall be coterminous with that of the Board;

(c) To interpret the organizational objectives and set up specific goals to be achieved towards these objectives;

(d) To appoint Chief Executive and such other employees of the Federation as may be prescribed;

(e) To make provisions for regulating appointment of employees of the Federation and the scales of pay, allowances and other conditions of service, including disciplinary actions against such employees;

(f) To approve annual and supplementary budget;

(g) To raise funds;

(h) To acquire or to dispose of immovable properties;

(i) To make rules regarding TA & DA of members of the Baord;

(j) To place annual reports, annual financial statements, annual plan and budget for approval of the general body and also to consider audit and compliance report and place the same before general body.

(k) To delegate powers to the Executive Committee / sub-committees / President and Chief Executive subject to the provisions of the Act and Rules.

(l) To acquire memberships of cooperative and other institutions at national and international levels;

(m) To take actions on all administrative and financial matters and approve actions of President and Chief Executive.

(n) To determine the rates of admission fees and annual membership subscription;

(o) To frame election rules from time to time;

(p) To constitute sub-committee and independent committees, that do not exceed three in number, towards furtherance of objects of the Federation;

(q) To consider and express opinions on matters of common interest concerning the urban cooperative credit sector on its own initiative or on issues referred to by the members;

(r) To consider and accept resignations of President, Vice-President or any member of the Board, Executive Committee or other committees, etc.

(s) To consider and approve periodical statements of income and expenditure of the Federation placed before it;

(t) To do all acts and take such steps as are incidental or conducive to the attainment of objects of the Federation with the framework of the Act and Rules.

One third of the members of the board or seven whichever is less, shall form the quorum for its meetings. The notice period for a Board Meeting shall be 14 days. The Board shall meet at least once in every quarter and as often as may be necessary provided the total number of meetings of the Board shall not ordinary exceed six in a year.

The minutes of the meetings of the Board of Directors shall be recorded in a Register and shall be signed by the President and also circulated to the members within 30 days of the meeting.

Disqualification to hold office as Director
A Director shall cease to hold office if he

i) ceases to be a representative of the Society he represents;

ii) resigns and his resignation is accepted by the Board of Directors;

iii) represents a Society which as defaulted in the payment of its subscription;

iv) represents a Society which has gone in liquidation; and

v) does not attend three consecutive meetings of the Board of Directors without leave from the Board.

All other conditions as detailed in section 43 of the Multi State Cooperative Societies Act, 2002 from being elected as a member of the Board of Directors, shall apply.

For a Director to be elected as President or Vice-President, the provisions of section 44 or Multi State Cooperative Societies Act, 2002 shall apply.

No member of the Board shall be eligible to be elected as President or Vice-President of the Federation, if such member is a Minister in the Central Government or a State Government.

No member of the Board shall be eligible to be elected as President of the Federation after he has held the office, as such during two consecutive terms, whether full in part. 

No member of the Board shall be eligible to hold at the same time, office of a President or Chairperson on the Board of more than two multi state cooperative societies.

Provided that the member who has ceased to hold the office of the President continuously for one full term shall again be eligible for election to the office as such.