Which of the following is an example of a cooperative society?

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Farmers

Workers

Women

All of these

answer is D.

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Detailed Solution

Farmers, workers, and women are an example of a cooperative society.
Any group can form a cooperative society, whether it be farmers, workers, women, etc. All they need is their savings to be collected to create a reserve fund to lend to their members. Members of the group then avail loans from their cooperatives for essential purposes like buying seeds for fresh produce, purchasing capital to start a new business, etc. Cooperative societies belong to the formal sector of credit because they maintain records of the members and the borrowers and, as an advantage, usually charge lower rates of interest to their members. Moreover, once a cooperative amass reasonable reserves, it can use them as collateral to avail of bank loans.

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