Question

What is an urban cooperative bank explain its functions?

Answer 1

Explanation:

Urban Co-operative Banks (UCBs) occupies an important place among the Non-Agricultural Credit Society. They cater to the credit needs of people residing in Urban areas. They advance loans mostly to the small traders, Assistant and monthly income group people. They also advance against gold, silver and produce.

Answer 2

Answer:

Urban Co-operative Bank is the name of a bank founded on cooperative principles to offer loans in urban and semi-urban areas.

Explanation:

• Urban co-operative Banks are institutions that were founded to carry out banking operations and have a working area that is limited to a certain urban area. These institutions collect savings deposits as well as lend money for various purposes. Urban Co-operative Bank is the name of the institution created to offer banking services and loans to urban residents such as labourers, artisans, small business owners, wage workers, and others.
• The function of urban Co- operative banks are- Accepting deposits, granting loan, To act as an agent, Discounting bill of exchange, To provide safe deposit locker, Modern banking services, helping for self- employment, Quick banking services, Financial management and training staff and other employees.

Thus this is the answer.

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