What do you understand by credit societies? Discuss the structure of credit societies in India.

Credit societies, also known as cooperative credit societies or cooperative banks, are financial institutions formed by a group of individuals, typically from similar economic backgrounds or communities, to provide credit facilities to their members. These societies operate on the cooperative principle of self-help and mutual assistance, aiming to fulfill the financial needs of their members while promoting thrift and financial inclusion.

In India, credit societies play a crucial role in catering to the credit requirements of farmers, agricultural workers, and other economically marginalized sections of society. These societies are structured in a way that ensures democratic control _____ _______ _______ ______ __________.
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