Q.Explain any four advantages of a credit co-operative society.

Credit societies changed the lives of small savers and borrowers, above all in the villages.

A credit co-operative society offers several important advantages to its members and to society:

1. Cheap and easy credit — Members get loans at a reasonable rate of interest and on simple terms, without the heavy security and formalities that commercial banks demand.
2. Freedom from the moneylender — Its greatest benefit is releasing the poor, especially farmers, from the crushing interest and debt-traps of the private moneylender.
3. Encouragement of thrift — By requiring regular deposits and rewarding them with interest, the society builds the saving habit and turns small idle sums into a useful common fund.
4. Promotion of self-help and self-reliance — Members learn to solve their own credit problems collectively, which develops confidence, responsibility and a spirit of co-operation. …

Explain each advantage in a sentence or two rather than just listing one-word points. Avoid mixing adv …