Question

What Are Cooperative Banks?

Answer 1

A bank that holds deposits, makes loans and provides other financial services to cooperatives and member-owned organizations. Also known as Banks for Cooperatives.These banks are traditionally centered around communities, localities and work place groups and they essentially lend to small borrowers and businesses. ... The cooperative bank is also regulated by the RBI.

Answer 2

ANSWER

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Cooperative Banks :- These banks are organised by people with Limited means for their mutual benefit.

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•These are organised and managed on Cooperative basis.

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•They accept deposits from and grant loans to their members at concessional rates of interest.

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•These banks are found in both rular and urban areas.

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•Cooperative banks also encourage thrift among the members in rural areas there agriculture cooperative banks which accept deposits and give loans to the farmers and ruler artesians.

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