Explain any three types of Co-operative Societies.
Answers
Answer:
Some of the major types of cooperative societies are as follows: (1) Credit Cooperative Societies (2) Consumers Societies (3) Producers Societies. Credit society was the first type of cooperatives. Its objective was to provide credit to the members of the society. ... (3) Producers society.
Answer:
Some of the major types of cooperative societies are as follows: (1) Credit Cooperative Societies (2) Consumers Societies (3) Producers Societies. Credit society was the first type of cooperatives. Its objective was to provide credit to the members of the society. ... (3) Producers society.
Credit Cooperative Societies:
Credit societies are voluntary and mutual aid associations. The major function of this type of society is to provide credit on personal security or on the basis of nominal security to its members, who are either cultivators, workmen or lower middle class people.They are of two types, viz., of unlimited liability and of liability. The difference between the two is with regard to liability of members, size of shares, territorial scope, division of profits, management, reserve fund, and their business and moral aspect.
Consumers Societies:The membership of these societies consists of agricultural workers and the middle class people who organise a consumer store. The members of the society earn their independent living and they are not supposed to depend on the consumer society.
Producers Societies:A producer’s society is organised for the production of goods and services based upon common ownership and management by a group of workers to eliminate the employee-employer relationship.
In our country, the above three types of cooperatives have taken a mixed form. A single society could be a credit, consumer and production society at the same time. Later, we shall have opportunity to discuss this mixed type of cooperative society.
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