Co-operative banks are financial entities established on a cooperative basis and belonging to their members. This means that the customers of a cooperative bank are also its owners. Co-operative Societies do not possess banking licenses and are formed with the object of promoting of economic interests of their members. Primary Cooperative Banks which are otherwise known as Urban Cooperative Banks are registered as Cooperative Societies under the Cooperative Societies Acts of the concerned States or the Multi-State Cooperative Societies Act function in urban areas and their business is similar to that of Commercial Banks. These banks provide a wide range of regular banking and financial services. Hence, co-operative societies can maintain accounts and accept deposits from their members only. The sole shareholder of the Co-operative Bank Finance plc is the Co-operative Bank Holdings Ltd which is a private company limited by share capital.

Ananthu Sibi

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