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UPSC General Studies Sample Paper General Studies Sample Paper-7

  • question_answer
    Consider the following statements and identify the incorrect one about the functions of cooperative banks.                                                               

    A)  Cooperative banks are organised and managed on the principle of .cooperation, self-help an;

    B)  They does not perform all the main banking functions of deposit, mobilisation etc.

    C)  Cooperative banks are the first government sponsored, government supported and subsidised financial agency in India                    

    D)                                 They are subject to CRR and SLR requirements as other banks                        

    Correct Answer: B

    Solution :

    [b] Cooperative banks also perform all the main banking functions of deposit, mobilisation, supply of credit and provision of remittances facilities. They function with the rule of one member, one vote' and on 'no profit no loss' basis.          


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