Published Paper Details:

Cooperative A cooperative bank is a financial institution that is owned at the same time by its members. Co-operatives are mostly formed by individuals belonging to some local professional group who have a shared interest in rural finance to meet the last man in the last village; the conventional money lender has no competitor. It provides the only tool that can have demonstrated its worth in reaching the citizens in full; the cooperative movement could not gain traction until 1954, when the RBI approved the recommendation from All India Credit Survey Committee. Each nation depends on the sector of banking. Similarly the Indian banking industry has a unique growth, as the Prime Minister's Bank was formed in the 18th century, and was later the Imperial Bank of India, now known as the State Bank of India in the pre-independence period (SBI). Co-operative banks in India have a crucial role to play in rural finance, by financing areas covering agriculture, livestock, milk, personal financing, independent jobs, and the establishment of small-scale units between the few areas of focus for urban and rural cooperative banks. They provide the necessary alternative to people visiting the village moneylender who have been working for many years, frequently finding themselves in a debt pit that they struggle with.