Multiple choice

Which of the following statements is correct regarding Central Cooperative Banks?

  1. These banks are established under Co-operative Societies Act 1912.
  2. Each district has a Central Co-operative Bank whose Capital is owned by Primary Co-operative Societies.
  3. These banks, like other banks, mobilize public deposits and provide short term loans to their customers.

  1. 1

  2. 1 and 2

  3. 2 and 3

  4. 1, 2 and 3
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Central Co-operative Banks are established under the Co-operative Societies Act, operate at the district level with capital from primary societies, and function like commercial banks by taking deposits and providing short-term loans.

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