Question

Identify the source of funding for cooperatives.

• A. Reserve Bank of India
• B. State Bank of India
• C. National Bank for Agriculture and Rural Development
• D. Community members

Answer 1

The correct option is D Community members

Cooperatives or cooperative societies refer to autonomous organisations of people comprising of community members. These members pool in money and utilise it for their required purposes. Cooperatives are commonly found in rural areas and are used for agricultural activities such as dairy farming.