Cooperative societies will be under the purview of Banking Regulation Act

cooperative credit societies   For: Preliminary & Mains Topics covered: All about Cooperative Credit Society Roll of Reserve Bank of India to Cooperative societies   News Flash Numbers of cooperative credit societies will have to seek banking license from the Reserve Bank of India (RBI) following amendment in the Banking Regulation Act.   Presently, cooperative credit societies are regulated and registered by the Registrar of Co-operative Societies. Their operations do not come under the purview…

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