State the types of Co-operative societies.
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Types of Cooperative Societies in India
Based on the nature of activities performed, co-operatives can be categorized as:
▶Consumers’ Co-operative Societies.
▶Producers’ Co-operative Societies.
▶Marketing Co-operatives.
▶Housing Co-operatives.
▶Co-operative Credit Societies.
▶Co-operative Farming Societies.
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The various types of Co-operative societies are as follows:
Explanation: It refers to the voluntary form of the organization in which generally weaker sections of the society join together in order to achieve a common objective and to fight against the social evils with the help of principle of co-operation.
TYPES OF CO-OPERATIVE SOCIETIES:
- Consumer co-operative societies: These are the societies which are formulated with the objective of helping the consumers to meet their daily requirements at reasonable prices by eliminating the middleman.
- Producer co-operative societies: These are the societies which are formulated with the objective of helping the producers in facing the competition by joining hands and increase in production.
- Marketing co-operative societies: These are the societies which are generally formulated by the small farmers and producers who come together in order to perform various marketing functions to sale their products.
- Agriculture co-operative societies: These are the societies which are being formed to help the small farmers to make the use of modern technology in order to increase the production level.
- Housing co-operative societies: These are the societies which are being formed by the low and middle level people who face difficulty in the construction of their own homes.
- Credit co-operative societies: These are the societies which are being made in order to help the poor section of society by providing the help of credit at reasonable rate of interest with least formalities.
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