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Man has been doing financial activities since his birth. But certain financial activities are such that man cannot handle them alone. Because a man needs food, clothes, house-hold all this he cannot make alone. Due to this, barter system came into existence. But even he had certain drawbacks. Man needed co-operation as he cannot do certain activities all alone and due to this he thought of co-operative activities came into existence. Man started taking help of each other in the same field, due to this he could do better, faster and increased amount of production, due to this co-operative activities started.
Where it was not possible for one-two people to work, five-fifteen people got together and started financial activities. Such activities were implemented by partnership efforts, partnership funds and loans were taken where ever needed. Expensive equipments could be purchased due to the large groups. And the co-operative activities started.
A co-operative committee is born when certain responsible person’s group of the village get together for their financial activities. And it is necessary to register the functioning of such financial activities.

Last Update : 11/2/2014

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