URBAN COOPERATIVE BANK DURING
URBAN COOPERATIVE BANK DURING
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Description
The Indian co-operative movement, basically meant to the welfare of common people, is one of the largest voluntary movements in the world and the urban cooperative banks is one of its important constitutes. The Maclagan Committee on cooperation (1915) mentioned that "Urban Credit Societies might serve useful purpose in training the upper and middle classes to understand ordinary banking principles". During the year 1931 the central banking enquiry committee recommended that "limited liability of co-operative societies, commonly known as urban banks should be established, wherever necessary facilities, exists for the benefit of middle class population. The work of the urban banks should be to do of the small traders, the merchant and the middle class population what the commercial banks are doing for the big trader and the big merchant.