Question

On the basis of requisition from Co-operative Society, members will forward which Form to the DCB, for releasing short term loan from the credit limit sanctioned to the society.

• A. Form A
• B. D
• C. Form C
• D. Form B

Answer 1

Answer:

B. D

Credit Card System:

• Introduced in Kerala 1970 - Japan Model 

• Kerala -1st state to introduce credit card in India. 

• Identity card issued to a member by service cooperative society 

• Indicates the credit limit sanctioned to him 

• To eliminate delay in giving loans & withdrawal without application. 

• D Form: Society on the basis of requisition from members will forward to the DCB 'D' Form for release short term loan from the credit limit sanctioned to the society

• This will prepared separately for small and marginal farmers

• Credit limit statement prepared by PACS (for upcoming advance proposals) and send to DCB.

• After the inspection made by DCB, DCB sanction credit limit to PACS