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Consider the following statements regarding District Central Co-operative Banks (DCCBs):
- They provide finance to all the co-operative societies in the district.
- They can lend directly to the public for non-agricultural purposes.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements regarding District Central Co-operat...
The RBI recently said District Central Co-operative Banks are allowed to close their un-remunerative branches without prior permission of the central bank.
About District Central Co-operative Banks (DCCBs):
- A DCCB is a rural cooperative bank operating at the district level in various parts of India.
- It is established to provide banking to the rural hinterland for the agricultural sector, with the branches primarily established in rural and semi-urban areas.
- DCCB provides finance to all the co-operative societies in the district, and conduct the activities and provide banking services according to the provisions of the co-operative act and banking act.
- They act as a link between the primary credit co-operative society and the State Co-operative Bank.
- At the district level, DCCB works as a banker of state government. Educational institutions, Zilla Parishad, Panchayat Samiti, Gram Panchayat, cooperative societies, etc have accounts in this bank.
- All the financial transactions of co-operative sector are conducted through DCCB.
- DCCBs have three sources of funds:
- Their own share capital and reserves
- Deposits from the public and
- Loans from the state co-operative banks
- The main functions of the DCCBs are
- To meet the credit requirements of member-societies
- To perform banking business
- To act as a balancing centre for the Primary Agricultural Credit Societies (PACS) by diverting the surplus funds of some societies to those which face shortages of funds
- To undertake non-credit activities
- To maintain close and continuous contact with PACS and provide leadership and guidance to them
- To supervise and inspect the PACS and
- To provide a safe place for the investment of the resources of PACs
- They also lend directly to the public for non-agricultural purposes within the area of operation of their branches.
Hence both statements are correct.
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Consider the following statements regarding District Central Co-operat...
District Central Co-operative Banks (DCCBs)
Overview:
District Central Co-operative Banks (DCCBs) are financial institutions that operate at the district level in India. They are registered under the Cooperative Societies Act of the respective state and are governed by the Reserve Bank of India (RBI). DCCBs play a crucial role in providing financial assistance and support to the co-operative societies within the district.
Statement 1: They provide finance to all the co-operative societies in the district.
This statement is correct. DCCBs primarily cater to the financial needs of various types of co-operative societies, including agricultural credit societies, rural housing societies, dairy societies, weavers' societies, etc. They provide loans and credit facilities to these societies for various purposes, such as agricultural activities, rural development projects, and other co-operative initiatives. The main objective of DCCBs is to ensure the financial stability and growth of the co-operative sector in the district.
Statement 2: They can lend directly to the public for non-agricultural purposes.
This statement is also correct. While DCCBs primarily focus on providing financial assistance to co-operative societies, they are also authorized to lend directly to the public for non-agricultural purposes. This includes loans for housing, education, small-scale industries, trade and commerce, and other non-agricultural activities. However, the extent of lending to the public may vary depending on the policies and guidelines set by the RBI and the state government.
Conclusion:
In conclusion, both statements regarding District Central Co-operative Banks (DCCBs) are correct. DCCBs provide finance to all the co-operative societies in the district and have the authority to lend directly to the public for non-agricultural purposes. These banks play a significant role in promoting the growth and development of the co-operative sector and supporting the economic activities within the district.
Overview:
District Central Co-operative Banks (DCCBs) are financial institutions that operate at the district level in India. They are registered under the Cooperative Societies Act of the respective state and are governed by the Reserve Bank of India (RBI). DCCBs play a crucial role in providing financial assistance and support to the co-operative societies within the district.
Statement 1: They provide finance to all the co-operative societies in the district.
This statement is correct. DCCBs primarily cater to the financial needs of various types of co-operative societies, including agricultural credit societies, rural housing societies, dairy societies, weavers' societies, etc. They provide loans and credit facilities to these societies for various purposes, such as agricultural activities, rural development projects, and other co-operative initiatives. The main objective of DCCBs is to ensure the financial stability and growth of the co-operative sector in the district.
Statement 2: They can lend directly to the public for non-agricultural purposes.
This statement is also correct. While DCCBs primarily focus on providing financial assistance to co-operative societies, they are also authorized to lend directly to the public for non-agricultural purposes. This includes loans for housing, education, small-scale industries, trade and commerce, and other non-agricultural activities. However, the extent of lending to the public may vary depending on the policies and guidelines set by the RBI and the state government.
Conclusion:
In conclusion, both statements regarding District Central Co-operative Banks (DCCBs) are correct. DCCBs provide finance to all the co-operative societies in the district and have the authority to lend directly to the public for non-agricultural purposes. These banks play a significant role in promoting the growth and development of the co-operative sector and supporting the economic activities within the district.
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