ANJALI NEGI (Chartered Accountant) (1263 Points)
19 December 2012Hello frnds
Can anyone explain .....
What is the difference between cooperative society and cooperative banks???
CA Bhargav Nathwani
(CA in Practice)
(8307 Points)
Replied 19 December 2012
ANJALI NEGI
(Chartered Accountant)
(1263 Points)
Replied 20 December 2012
u simply answer..my question is correct...
CA Manish
(Job)
(5264 Points)
Replied 21 December 2012
Co opearative society”. It is a voluntary association of persons
who work together to promote their economic interest. It works on the principle of self-help
as well as mutual help. The main objective is to provide support to the members. Nobody
joins a cooperative society to earn profit. People come forward as a group, pool their
individual resources, utilise them in the best possible manner, and derive some common
benefit out of it.
A co-operative bank is a financial entity which belongs to its members, who are at the same time the owners and the customers of their bank. Co-operative banks are often created by persons belonging to the same local or professional community or sharing a common interest. Co-operative banks generally provide their members with a wide range of banking and financial services (loans, deposits, banking accounts...).
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