The co-operative banking system is an important source of finance in the rural areas. This banking system today is not restricted to rural areas but also covers several urban areas. The co-operative banking performs some important tasks like an extension of all kinds of credit lines for customers in cash and in-kind, anticipating the consumer loans, extending the banking services in rural areas, activating the deposits, controlling the usage of loans, etc.
Co-operative banking also involves basic banking functions but with little difference with commercial banking. The co-operative banking system involves three-tiers, including State Co-operative at Apex level, the Central/district co-operative bank at the district level and also the primary rural co-operatives.
This banking system operates as per the principle of co-operation and not on commercial parameters. The co-operative banking system works on the old concept humanity. The society cannot progress socially and economically without co-operation. The co-operative banking system is evolving over the years with the changing world and is catering to the banking needs of customers at national level.
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