The main function of a thrift and credit cooperative society is to
Answer Details
The main function of a thrift and credit cooperative society is to encourage members to save. A thrift and credit cooperative society is a type of financial institution that is owned and operated by its members. The primary goal of such societies is to promote savings among its members, and to provide access to credit and other financial services.
By encouraging members to save, thrift and credit cooperative societies help to build a culture of financial responsibility and stability. Members can save small amounts of money regularly, which can then be used to access credit or other financial services. This can be particularly beneficial for individuals or groups who may not have access to traditional banking services, or who may not have the financial means to save on their own.
In summary, the main function of a thrift and credit cooperative society is to encourage its members to save, with the goal of promoting financial stability and providing access to credit and other financial services.