Question

What is the difference between bank and patpedhi?

Answer 1

From the outside, banks and credit unions seem very similar. They both offer checking and savings accounts, financial products like CDs and specialized accounts, and the rest of the services we've come to expect. ... But under the surface, the two types of financial institutions couldn't be more different.

Answer 2

Answer:

Banks are often delineate because the money treater, amidst the borrowers and depositors and provides banking services to the shoppers. full service bank could be a bank that's shaped for the industrial purpose and therefore its primary aim to earn benefit from the banking business.

Explanation:

On the opposite hand, cooperative banks are owned  and operated by the members for a standard purpose i.e. to supply money service to agriculturists and tiny businessmen. It depends on the on the principles of cooperation, like open membership, democratic deciding, mutual facilitate. The article presents you the basic distinction between industrial and cooperative banks have a glance.

A co operative society is registered below Co operative societies act of state govt or Multi State Cooperative Society act of central govt. They can do business with members solely. They can not use word Bank in name only. They can not issue check book.

Co operative bank could be a cooperative society doing banking business with license from run batted in. They can settle for non member deposits and use word Bank within the name.

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