Section 20A

" Notwithstanding anything contained in this Act, rules or bye-laws made there-under or any other law for the time being in force, a cooperative credit structure society shall have autonomy in all financial and internal administrative matters including the following areas :- (a) Interest rate on deposit and loans, Provided that in case of the State Cooperative Bank, the interest rates shall be in conformity with the guidelines issued by the Reserve Bank; (b) Borrowing and investments; (c) Loan policies and individual loan decisions; (d) Personnel policy, staffing, recruitment, posting and compensation to staff; (e) Internal control systems, appointment of auditors and compensation for the audit"