Rashmi wants to setup a cooperative society which can protect the farmers in rural areas from the exploitation of money lenders, who change high rates of interest on loans. Through this, she will also promote saving habits in them.
(a)Identify the type of cooperative society she will form ?
(b)What are the functions of such cooperative society ?
©Which two values are communicated to society by setting up such societies ?
(a)Rashmi will form credit cooperative society.
(b)The functions of such cooperative society is to provide loans to members out of the amounts collected as capital and to collect deposits from the members.
©Values communicated are : (i) Mutual help, (ii) Promotion of saving habits, (iii) Increasing rate on capital formation, (iv) protection of farmers from the money lenders.