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| 1. |
What is the difference between a bank and a cooperative ? |
| Answer» 1. Commercial banks operate with the approach of commercialization while Co-operative banks woks on the principle of co-operation. That is why state Co-operative banks get loans at least 2% cheaper from the Reserve bank of India.2. Commercial banks have been constituted by an act passed by the parliament while Co-operative banks are constituted by different sates under various acts related to Co-operative societies of various states.\xa03. Co-operative banks have three tier set up in India i.e. state Co-operative at the apex level, central/district co-operative banks at the middle level and primary co-operative banks at the lower level while commercial banks don’t have any such tier system in India. | |