What are co-operative banks? Mention their objectives?

1.	What are co-operative banks? Mention their objectives?
Answer» Co-operative banks operate on the basis of principles like co-operation, self-help and mutual help. They have been set up for rural development. Co-operative banks were set up with the aim of extending financial help to farmers, handicrafts men, small scale industrialists, etc. The objectives of Co-operative banks are: 1. Give loans to people 2. Save the rural folk from the exploitation of private money lenders 3. Give loan at low rate of interest 4. Promote saving habits among the rural folk

Answer»

Co-operative banks operate on the basis of principles like co-operation, self-help and mutual help. They have been set up for rural development. Co-operative banks were set up with the aim of extending financial help to farmers, handicrafts men, small scale industrialists, etc.

The objectives of Co-operative banks are:

1. Give loans to people

2. Save the rural folk from the exploitation of private money lenders

3. Give loan at low rate of interest

4. Promote saving habits among the rural folk

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