The major condition for obtaining loan in thrift, credit and loans cooperative societies is
-
provision of collateral security
- a high level of education
- possesssion of a large business
- an approved project plan
The correct answer is: A
Explanation
Thrift, credit, and loans cooperative societies typically require the provision of collateral security as the major condition for obtaining a loan. Collateral security serves as a guarantee that the borrower will repay the loan, and in case of default, the cooperative society can claim the collateral to recover the loan amount.