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Which type of cooperative society members provide financial assistance to other members? Explain. 

Asked by Topperlearning User 17th June 2016, 5:21 PM
Answered by Expert
Answer:

Credit cooperative society is formed to provide financial assistance in the form of direct loans to their members. This is well organised in rural and urban areas. Funds are pooled together by the members’ contribution to provide loans to the required members on simple terms and conditions. This enables to encourage the habit of thrift among their members. Thus, it controls spending too much of money unnecessarily.

Answered by Expert 17th June 2016, 7:21 PM
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