Question

First registered Urban Cooperative Society in India was at --.

• A. Mumbai, Maharashtra
• B. Ahmedabad, Gujarat
• C. Pune, Maharashtra
• D. Kanjeevaram Madras Province

Answer 1

Answer:

D. Kanjeevaram Madras Province

URBAN COOPERATIVE BANKS:

• These societies are established to provide cheaper credit to small traders, employees, artisans and middle class people living in urban area

• First Urban cooperative Bank started in Germany 

• Schulze Delitzch are the Father and Founder of urban cooperative Movement 

• Luigi Luzzatti is the profounder of UCB – Italy (Pattern of Schultz)

• Working among middle class people

• Banaca Popularie (People Bank) - Italy - By LUIGY LUSSATI -CUSSATTA Banks – Urban area - Limited Liability

• Schulze started first Cooperative Bank in 1852

• Urban Bank in India indebted to Mac lagan committee - In India -19th century origin

• Urban bank maintain SLR and CRR as per the rate fixed by RBI 

• In India, urban cooperative Bank was started in Baroda State as Mutual Aid Society on 5th Feb 1889 by Vithal Laxman Kavithkar.

• First registered urban Cooperative Society was in 1904 at Kanjeevaram Madras Province 

• In 1st March 1966, all urban cooperatives banks are come under purview of BRAct and can functions with the License from RBI 

• In Kerala urban Cooperative Banks comes under the control RBI and Registrar