The major condition for obtaining loan in thrift, credit and loans cooperative societies is

The major condition for obtaining a loan in thrift, credit, and loan cooperative societies is "provision of collateral security". Collateral security is an asset or property that is pledged by the borrower to secure the loan. This provides the lender with some assurance that they will be able to recover the loan amount in case the borrower is unable to repay the loan. Collateral can include things like property, stocks, or other assets that have value. When a borrower applies for a loan from a cooperative society, they are required to provide collateral security that is worth at least the amount of the loan. The collateral is evaluated by the society to determine its value and the borrower's ability to repay the loan. Therefore, collateral security is a major condition for obtaining a loan in cooperative societies, and it provides assurance to the lender that the loan will be repaid even if the borrower defaults.