Which of the following are the characteristic features of the cooperatives 1 Voluntary and ope...........

Economic Affairs Types of Banks and Banking

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Which of the following are the characteristic features of the cooperatives?

1. Voluntary and open membership

2. Working for Maximum Profit

3. Democratic management

Select the correct answer using the codes given below:

1 and 3 Only

1 and 2 Only

2 and 3 Only

1, 2 and 3

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Explanation:

The basic characteristics of SHGs are: Statement 1 is correct: Voluntary and Open Membership.
Statement 3 is correct: Democratic Member Control,Member Economic Participation,Autonomy and Independence,Education, Training and Information
Concern for Community
Statement 2 is Incorrect: Co-operatives are based on the values of self-help, selfresponsibility, democracy, equality, equity and solidarity.