Purbanchal Saving & Investment Co-Operative Limit

In: Business and Management

Submitted By rosuns
Words 4279
Pages 18
CHAPTER - 1

INTRODUCTION

1.1 Background of the study

'Co-operative' refers to work together for common benefit. A co-operative organization is such an organization which is established by economically weak persons. This organization functions under their mutual co-operation of all the members. Specially, co-operative organization is such autonomous organization, which is established voluntarily by the group of persons for the fulfillment of the social, economical and cultural expectations with the democratic control and flow. If we analyze the history of it, we can find that it is the organization established by economically and socially exploited people from the rich businessmen.

At the outset, the co-operative organization came into existence after the establishment of consumers co-operative society named as 'Rochdale society of equitable pioneers' in England by Robert Owen with the objective of saving poor people from economic exploitation, to eliminate the middlemen and to make the ideal society in October 24, 1944 A.D. After the establishment of it, such organizations were developed in Germany, Italy, France, and Japan in 1850 A.D. Sulj established a co-operative organization to save the farmers providing the loan at the lower rate of interest with the result of the development of co-operatives, International Co-operative Alliances were established in 1895 A.D. in England.

"Co-operative is the form of organization in which persons voluntarily associate together as human beings on the basis of equality together as human beings on the basis of equality for the promotion of economic interests themselves[1]. "

From the analysis of above definition we can say that co-operative is the organized activities of similar interest group for their shake with some objectives. Its main objective is to chanelize to the number of…...

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