What is Cooperative or CO-OPERATIVE? According to Section 4 of the Indian Cooperative Act, 1912, co-operative is an organization whose purpose is to work as a cooperative to fulfill all the needs of its members for economic development. What is the purpose of Cooperative or CO-OPERATIVE? 1. To make members of each family, mainly women, to be members of the committee and to share the stake in the committee. 2. To make the members of the poor and every section of the poor class aware about savings and debt, by creating sub-committee at village, panchayat and ward level, tell the importance of saving so that they can prepare themselves for future. 3. Expanding the business of members and general public, facilitating loan facility for new business. 4. Providing loan facility to the members on any essential work. 5. Provide inputs to all the members and the general public so that they can invest in the right place. 6. By creating a women self-help group through committee, Linking to Walmatmapam and providing loans for business operations. What is the need to make CO-OPERATIVE? Today, all the people have the need of rupees to do some work on time or need, but at the time the loan is not received from the bank. In order to overcome this shortage, the committee gives loans to its members for business and other work on time. Why does not the bank give loans? Linking to Walmatmapam and providing loans for business operations. What is the need to make CO-OPERATIVE? Today, all the people have the need of rupees to do some work on time or need, but at the time the loan is not received from the bank. In order to overcome this shortage, the committee gives loans to its members for business and other work on time. Why does not the bank give loans? Linking to Walmatmapam and providing loans for business operations. What is the need to make CO-OPERATIVE? Today, all the people have the need of rupees to do some work on time or need, but at the time the loan is not received from the bank. In order to overcome this shortage, the committee gives loans to its members for business and other work on time. Why does not the bank give loans?
- Banks have less than 50,000 / - credit facility.
- The bank does not provide loans on easy terms.
- The bank does not provide loans on time.
- Poor and illiterate people lack financial information in the absence of adequate information. As a result, common man:
- The second person has to take a loan at the 10 per cent monthly interest rate.
- When the loan is not repaid the mortgage is seized.
- Often fraud has to be attributed.
What benefits can the members get from the co-operative society?
- Savings facility
- Credit facility at any time 2: Loan available on interest.
- Easy access to credit facilities to the members.
- Provide other government and non-government services through the service center at Panchayat level.
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