Consumers Cooperative Societies:: (A) Industrial Service Cooperatives
Consumers Cooperative Societies:: (A) Industrial Service Cooperatives
Consumers Cooperative Societies:: (A) Industrial Service Cooperatives
They also arrange loans from financial institutions and Government agencies. Other societies themselves construct houses
and allot them to the members who make payment in instalments.
6. Credit Cooperatives:
These societies are formed by poor people to provide financial help and to develop the habit of savings among members.
They help to protect members from exploitation of money lenders who charge exorbitant interest from borrowers.
Credit cooperatives are found in both urban and rural areas. In rural areas, agricultural credit societies provide loans to
members mainly for agricultural activities. In urban areas, non-agricultural societies or urban banks offer credit facilities
to the members for household needs.
In India, several national federations of cooperative societies have been formed. National Cooperative Consumers
Federation, National Federation of Cooperative Sugar Factories, National Agricultural Cooperative Marketing Federation,
National Cooperative Dairy Federation, National Cooperative Housing Federation, All India State Cooperative Banks
Federation is some examples.