Question

Schulze started first Cooperative Bank in the year

• A. 1842
• B. 1875
• C. 1852
• D. 1899

Answer 1

Answer:

C. 1852

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.