BANKING TRADE AND COMMERCE
There are half a dozen trade associations in the district. The
Nag-Vidarbha Chamber of Commerce with its head office at Nagpur is an apex organisation. Of the other associations in the Amravati district the notable are the Amravati Cotton
Merchants' Association, Amravati, and the Grain and Seeds
Merchants' Association, Amravati.
With the growth in the trade of the district, traders have
organised themselves in associations on the lines of the guilds
that existed in the past. The associations function to protect
the interests of their members, to bring about closer co-operation amongst them, to lay down a common policy and devise ways and means to promote trade and to settle amicably the disputes, if any, amongst the members.
Nag-Vidarbha Chamber of Commerce.
The Nag-Vidarbha Chamber of Commerce, an apex organisation for the region, was established in 1944 in response to the
need for an organised body which would speak for the merchants of the region as a whole. It secures and furthers the interests of the business community of the country in general and of Vidarbha in particular. The Chamber undertakes a thorough study of the difficulties experienced by its members and seeks solutions as far as possible. It also collects and disseminates statistical information for the benefit of its members. The membership of the Chamber consists of three classes: (i) ordinary members of whom there are three types (a) individual merchants, (b) joint stock companies and (c) associations; (ii) honorary members and (iii) patrons.
The Chamber is included in the list of Associations and Chambers of Commerce and Trade recognised by the State Government as well as by the Government of India. It is now represented on many official bodies.
Amravati Cotton Merchants' Association.
The Cotton Merchants' Association established at Amravati in 1949 aims at promoting the interests of its members either directly or indirectly. It collects and publishes statistical information, e.g., annual figure of cotton bales produced, minimum and maximum price for cotton, railway freight rates for cotton bales to be sent from Amravati to about 160 stations in the country, etc. It tries to redress the grievances of its members and settles, as far as possible by arbitration, disputes among its members or among its members and non-members.