Question

Write a detail note on Co-operative Legislation in India.

Answer 1

India. Cooperative banks serve an important role in the Indian economy, especially in rural areas. In urban areas, they mainly serve to small industry and self-employed workers. They are registered under the Cooperative Societies Act, 1912

A society which has as its objects the promotion of the economic interests or general welfare of its members or of the public in accordance with the co- operative principles, or a society established with the object of facilitating the operations of any society may be registered under this Act with limited