Features of Co-operative Banks: Customer Owned Entities: Co-operative bank members are both customer and owner of the bank. Democratic Member Control: These banks are owned and controlled by the members, who democratically elect a board of directors. Members usually have equal voting rights, according to the cooperative principle of “one person, one vote”. Profit Allocation: A significant part of the yearly profit, benefits or surplus is usually allocated to constitute reserves and a part of this profit can also be distributed to the co-operative members, with legal and statutory limitations. Financial Inclusion: They have played a significant role in the financial inclusion of unbanked rural masses. They provide cheap credit to masses in rural areas.
As of March 2024, what percentage of Bharatmala Pariyojana Phase-I has been completed?
The Hindustan Aeronautics Limited (HAL) recently signed a contract worth over with Honeywell for supply and manufacture of 88 TPE331-12B engines/kits a...
India has launched which operation to bring back its nationals from Ukraine?
What is the primary role of INS Sandhayak, the first Survey Vessel Large (SVL) ship commissioned into the Indian Navy?
What proposal did the Reserve Bank of India (RBI) issue to enhance digital-payment security?
According to the World Bank’s latest Global Economic Prospects report, real global GDP is set to climb 2.1% this year. In the report the bank has also...
Which day is celebrated as ‘No Smoking Day’ every year?
Consider the following statements about Central Industrial Security Force (CISF):
1. It works under the Ministry of Defence.
2...
Recently President Sheikh Khalifa bin Zayed Al-Nahyan died He was President of Which Country?
In which year the Sarang Helicopter Display Team of India was formed?