IFFCO - Organization and Functions

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.

Full form of IFFCO Indian Farmers Fertilizer Cooperative Limited
Headquarters New Delhi
Founded 3 November 1967 with 57 Cooperatives
Cooperatives Members in 2018 39,084 Cooperatives
Chairman Mr B. S. Nakai
MD & CEO Dr U. S. Awasthi
No. of Board of Directors 31
Sector Co-operative Federation
Turnover in 2017-18 Rs 20,787 crore 

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
(c) Mr. Yogendra Kumar
(d) Mr. A. K. Singh
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