Question
Which of the following are the features of Co-operative
Banks? I- Co-operative bank members are both customer and owner of the bank. II- These banks are owned and controlled by the members, who democratically elect a board of directors. III- They have played a significant role in the financial inclusion of unbanked rural masses.Solution
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.
Who presented the 'Outstanding Business Woman of the Year - 2023' Award to Dr. Bina Modi?
Recently International solar alliance has launched a tender to establish 1150 MW solar plant in which country?
- What is the prize amount associated with the 1.M. Turing Award, as announced in 2024?
- Padmakar Shivalkar, who recently passed away, was associated with which sport?
Brampton is in which country where for the first time a turbaned Sikh was appointed deputy mayor?
Which swimmer has created a new national record in the backstroke event at the National Swimming Championships?
The preferred IUPAC name of Allyl bromide is:
Which company has PhonePe partnered with to enable contactless payments for Indian travellers in Sri Lanka?
Which Indian Pharma firm has received final approval from the US Food and Drug Administration (USFDA) for the generic lenalidomide capsules in multiple ...
The food ministry has estimated the cost of Smart PDS scheme- launched to create an integrated national-level dashboard for monitoring of end-to-end ope...