Question

Raj holds ₹10,000 worth of shares in his Credit Co-operative Society. Under Rule 22 of KCS Rules, he:

• A. Can use these shares as collateral for loans from any co-operative society.
• B. Cannot use these shares as collateral for loans from any co-operative society
• C. Can use these shares as collateral for loans only from his own Credit Co-operative Society.
• D. Can use these shares as collateral for loans from any financial institution, but not co-operative societies.

Answer 1

Answer:

B. Cannot use these shares as collateral for loans from any co-operative society

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