BEGINNING OF COOPERATIVE BANKS IN INDIA
The first known mutual aid society in India was the 'Anyonya Sahakari Mandali"organised in state of Gujrat in the year 1889 under the guidance of vithal laxman also know as bhausaheb kaythekar .Previously it came in the sape of co-operative credit society where a group of people frame a society for specific purpose to fulfill the needs of a community.From
BEGINNING OF COOPERATIVE BANKS IN INDIA
till today, the thrust of cooperative banks, historically, has been to mobilise savings from the middle and low income groups and purvey credit to their members.
Cooperative Credit Societies Act
The Act came into force in the year 1904, however, gave the real impetus to the movement. The first credit society got registered in Canjeevaram (Kanjivaram) in the Madras province in the month of October, 1904.
Amendments in Cooperative Credit Societies Act
It was amended in the year 1912, with a view to broad basing it to enable organisation of non-credit societies.
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