Primary agricultural credit society definition limits membership to farmer-members, with a state funded cooperative bank exception. A Primary agricultural Credit Society is a cooperative society whose principal business is providing financial accommodation to members for agricultural ... Summary
Primary agricultural credit society definition limits membership to farmer-members, with a state funded cooperative bank exception.
A Primary agricultural Credit Society is a cooperative society whose principal business is providing financial accommodation to members for agricultural purposes or related activities, including marketing of crops; its bye-laws must not permit admission of other cooperative societies as members, except that a cooperative bank may be admitted if it subscribes to share capital using funds provided by the State Government for that purpose.
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