BANKING AFFAIRS

Detailed explanation-1: -The first urban cooperative credit society was registered in Canjeevaram (Kanjivaram) in the erstwhile Madras province in October, 1904.

Detailed explanation-2: -The first Cooperative Law of India The Cooperative Credit Societies Act, 1904 was passed on 25th March 1904. Agricultural Credit Cooperative Society, of Kanaginahal village of Gadag District in Karnataka was the first cooperative Society formed under First Cooperative law of India.

Detailed explanation-3: -Which was the first cooperative society registered under Cooperative Societies Act 1904 and in which year it was registered? Explanation: Agricultural Credit Cooperative Society, of Kanaginahal town of Gadag District in Karnataka, was the principal helpful Society framed under the First Cooperative law of India.

Detailed explanation-4: -During the first years (between 1904 and 1912) the law only allowed primary (local) co-operatives, without the right to federate and to from unions or federations.

Detailed explanation-5: -The first urban co-operative credit society under the Act of 1904 was registered in Kanjivaram in erstwhile Madras province.