Correct Option
The correct option is 2 and 3 only.
Explanation
A Krishak Cooperative (Farmers' Cooperative) is an association of farmers who pool their resources to cooperate in certain areas, primarily to secure credit at reasonable interest rates. These cooperatives function similarly to banks for their members, operating on the principle of mutual aid and resource pooling.
Statement-wise Analysis
- Statement 1 is Incorrect. A primary function of a cooperative is to pool resources. Members of the cooperative deposit money into the cooperative. Therefore, it does accept deposits from its members, which forms the capital base for its operations.
- Statement 2 is Correct. The deposits collected from members are often used as collateral to secure a large loan from a commercial bank. These funds are then used to increase the lending capacity of the cooperative to its members.
- Statement 3 is Correct. While the primary focus is often agriculture, Krishak Cooperatives provide loans for a variety of purposes. These include loans for the purchase of agricultural implements, cultivation, fishery, and personal expenses such as house construction and other livelihood-related activities.
Key Takeaway
Krishak Cooperatives operate by pooling member deposits to provide affordable credit. They leverage these deposits to secure bank funding and offer loans for diverse needs, including agriculture, housing, and trade.