Correct option is B
The correct answer is: (B) 1904
Explanation:
The first Indian Cooperative Societies Act was enacted in 1904 during British rule to promote cooperative credit societies in rural areas.
This act laid the foundation for the cooperative movement in India, focusing mainly on providing credit to farmers and small-scale producers.
Information Booster:
The Cooperative Societies Act, 1904 was introduced to encourage self-help and mutual aid among farmers.
It allowed the formation of cooperative credit societies to address rural indebtedness and financial exploitation by moneylenders.
Later, in 1912, the Cooperative Societies Act was amended to include non-credit societies such as consumer, marketing, and housing cooperatives.
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