A Study on Role of Cooperatives Societies in Promoting Rural Entrepreneurship and Financial Inclusion

Abstract

The role of cooperatives in rural entrepreneurship and financial inclusion is important. Because they provide training to farmers, markets, resource sharing, banking services, and empowerment to marginalized groups, thereby increasing self-reliance. Cooperative banks provide easy and affordable loans to farmers and entrepreneurs in rural areas, which boosts agriculture and other businesses. The organization provides members with new technologies, better seeds, and modern training in agriculture, which increases production. Cooperatives help farmers get better prices for their produce and reduce the chain of intermediaries. Farmers and entrepreneurs come together to share machinery and other resources, which reduces costs. The institutions provide banking services and financial opportunities to the poor and vulnerable segments of society, who are not reachable by traditional banks.