Question

The working principle of cooperative banks is

• A. Profit maximization
• B. Competition and free markets
• C. Co-operation, self-help, and mutual aid
• D. Government control

Answer 1

Answer:

C. Co-operation, self-help, and mutual aid

Co-operative Banks

• The working principle of co-operative banks is 'co-operation, self-help and mutual aid'.

• The main objective of Co-operative Bank is to provide financial assistance to the common man especially the rural people.