Contribution of Cooperatives in Developing Innovative Models of Employment Generation: Success Story of Vanitha Selfie Initiative

Abstract

Cooperatives are stabilising regional economic cycles and can generate income and employment opportunities. Cooperative initiatives can be found as stepping stone of India’s rural economic as well as social enrichment. Here, the researcher indents to study such an innovative income generation initiative of Kanjikuzhi Service Co-Operative Bank, Vanitha Selfie. To analyse the social and economic empowerment attained by the members of Vanitha Selfie, they are approached with a structured questionnaire and also conducted face to face interview with their key official personnels. Descriptive Statistics were used in data analysis and one-way ANOVA was used to test the hypothesis. It is found that Vanitha Selfie initiative has a significant positive impact on the development of economic as well as social status of its members. The study also reveals that Vanitha Selfie is a successful innovative income generation initiative by a cooperative bank, which can be a model to the emerging enthusiastic entrepreneurs.

Keywords: Cooperatives, Employment Generation, Cooperative Initiative, Vanitha Selfie Initiative

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