DCCB a Government or Private Bank
The Cooperative Societies Act of 1904 governs cooperative banks such as DCCB. These are banks in the private sector. DCCBs typically cater to the credit needs of agriculturists and pay slightly higher interest rates to depositors than commercial banks.
- In DCBB or any cooperative bank, borrowers are partner shareholders, so they have some power over the banks' lending guidelines on their voting power.
- Cooperative organizations have assisted in introducing more profitable methods like Cooperative credit is available for buying better quality seeds, chemical fertilizers, modern implements, etc.
Overview of DCCB Bank:
- DCCB is not run by the government.
- Cooperative banks are governed by the laws established by the Registrar of Co-operative Societies and are overseen by the RBI (Reserve Bank of India).
- The number of branches of such banks is small and geographically limited.