Question

The Co-operative Credit structure have been based on the concept of mutually with functions going hand in hand

• A. Thrift and credit
• B. Thrift and saving
• C. Deposit and borrowing
• D. Savings and investments

Answer 1

Answer:

A. Thrift and credit

The cooperative credit structure in India is built on the principle of mutual help among members. The two fundamental functions that go hand in hand are: Thrift – Members save money collectively. Credit – The pooled savings are then lent to members in need. Other options are incorrect because: Thrift and saving – Redundant; saving is part of thrift. Deposit and borrowing – More of a banking function, not the core cooperative principle. Savings and investments – Investment is not the primary function in cooperative credit. Thus, thrift and credit is the foundational concept.