Discuss the system and devices of monitoring cooperatives.

Monitoring cooperatives is essential to ensure their efficient functioning, accountability, and sustainability. Cooperatives, particularly those in the agricultural sector, play a vital role in empowering farmers, enhancing their bargaining power, and promoting socio-economic development. However, effective monitoring mechanisms are required to safeguard the interests of both members and the larger community. Let's delve into the systems and devices used for monitoring cooperatives, particularly focusing on those serving farmers.

1. Legal Framework and Regulatory Bodies:
   - Cooperatives operate within a legal framework established by respective governments. Laws define their formation, governance, and operation.
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