In which was the first cooperative credit union established?

Q.  Earliest known cooperative credit union ‘Anyonya Sahakari Mandali’ was founded in which year?
- Published on 16 Feb 17

a. 1889
b. 1965
c. 1912
d. 1770

ANSWER: 1889
Anyonya Sahakari Mandali was established in 1889 in the province of Baroda.

It is the earliest known cooperative credit union in India.

Anyonya Sahakari Mandali or Anyonya Co-operative Bank Limited (ACBL) is the first co-operative bank in India.

The Reserve Bank of India ordered the bank to stop most of its operations under Section 35 of the Banking Regulation Act, on 14 September 2007, and ACBL closed in March 2008.

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