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What is the main objective of establishing cooperative banks?
  • a)
    Maximizing profits for shareholders.
  • b)
    Providing financial services to urban areas only.
  • c)
    Fostering financial inclusion and benefiting the community.
  • d)
    Offering specialized banking services to large corporations.
Correct answer is option 'C'. Can you explain this answer?
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What is the main objective of establishing cooperative banks?a)Maximiz...
Cooperative banks are established with the primary goal of fostering financial inclusion and benefiting the community. Unlike commercial banks that focus on profit maximization, cooperative banks prioritize the needs of their members and the local community they serve. They aim to provide accessible financial services to all sections of society, especially those in rural and underprivileged areas.
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What is the main objective of establishing cooperative banks?a)Maximizing profits for shareholders.b)Providing financial services to urban areas only.c)Fostering financial inclusion and benefiting the community.d)Offering specialized banking services to large corporations.Correct answer is option 'C'. Can you explain this answer?
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