Question

The Cooperative Credit Societies Act 1904 was based on​

Answer 1

Explanation:

• The enactment of Cooperative Credit Societies Act, 1904, however, gave the real impetus to the movement. The first urban cooperative credit society was registered in Canjeevaram (Kanjivaram) in the erstwhile Madras province in October, 1904.

• One impact of the Punjab Land Alienation Act of 1900 was that the Money Landers started not giving any loans to the Agriculturalists, because now they could not keep their land as mortgage. So now there was a need to establish agriculture and rural Banks.