A group of 10 friends decided to form a co-operative society in a remote village of Madhya Pradesh so that they can help the poor villagers by lending them loan at low rate of interest and make them free from the clutches of local and small money lenders. Identify the type of cooperative society and state its two major functions.
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Here's your answer!! ➨ It is necessary for the banks and cooperative society to increase their lending facilities in rural areas because the money lender who lend money are charging a large amount of interest on the loan and it was very difficult for the rural people to pay the interest
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