Some cooperative banks are older like their peers in the commercial banking sector. There are cooperative entities as old as 1906 & later, who first ventured into the cooperative sector as a cooperative credit society serving limited clientele in the agricultural sector with limited membership holding shares. Later
Cooperative banks have limited branches in the country. They are mostly concentrated in the States where they were originally established by some distinguished farmers or socially-committed Samaritans after obtaining license from the RBI. It has been seen that as the coop banks cater to a particular community who
What are Cooperative Banks in India?
Cooperative Banks are registered under State Laws and primarily cater to rural poor & agriculturists. They provide term credit to agriculture & obtain refinance/concessional interest from RBI. All Cooperative Banks are governed by Banking Regulation Act. They have limited scope in
Imagine a scenario where Mr. Verma deposits a sizeable sum of money in a fixed deposit and makes his wife the nominee. In case Mr. Verma passes away due to some unfortunate incident/accident, the fixed amount should go to the nominee, who in this case is his wife.
Do you have a Bank Locker Insurance?
With your jewellery and valuables inside your bank locker you can have a goodnight sleep. Well that is what you think so? However, one gets to read about safe locker thefts frequently and who knows your safety
Bank lockers are one of the safest options to keep your jewelry and important papers safe. Safe lockers are made of high quality thick steel plates with screws fitted on them making it difficult for robbers to break open. But do you know what are
We all know that keeping articles safe in a bank locker is the best possible way to keep your assets secured. But how to hire a safe locker that’s just right for you? What are the tips for hiring a locker? Though banks do
If you are a credit card owner there is a chance that you may be subject to credit card frauds like thousands of others around the world. Use of credit cards around the world has increased over the years. Online payments and electronic transfers
A credit card offers unlimited financial freedom. But as all freedom, a credit card too comes with its own set of responsibilities. If used responsibly, a credit card can be a very effective financial tool. Whether you are a first timer or not, people
You and your credit card are inseparable. Right from paying for your groceries, to your child’s school fees or for your movie tickets or flight bookings, credit cards are no longer a status symbol but a necessity. As a result we have enslaved ourselves