Major advantages in respect of banks. Review on Banks Vs. Co-operative Unions

Banks have a lot of advantages vis-a-vis co-operative unions. Banks are controlled by the Reserve Bank of India while co-operative unions are controlled and regulated by the Co-operative Societies Act and the Societies Registration Act. If one wants to become a share-holder of banks, he has to apply for shares being listed on the stock-exchanges in India. The membership of co-operative unions is stipulated by their charter i.e. their governing rules framed during their incorporation. If one becomes a member of the co-operative society by subscribing to their shares, he becomes entitled to a share certificate in proportion to the shares held by him, and thus he gets preferential treatment with respect to credit facilities and other rights such as voting rights and rights to receive dividend and attend the general body meetings of the society concerned.