Cooperative Banks in India:

The co-operative banks in India have a history of nearly a hundred years.  The co-operative banks square measure a crucial constituent of the Indian economic system, judgment by  their  role appointed  to  them,  the  expectations  they square measure supposed  to  fulfill,  their range,  and  the range  of  offices  they  operate.

The co-operative movement  was  originated  in  the  west, however  the necessary that  such  bank  have  assumed in India  is seldom  paralleled anyplace  else  in the  world.

Their  role  in  rural finance  continues  to  be necessary event these days, and their business in urban areas additionally has enhanced phenomenally in recent  years primarily  due  to  the  sharp  increase  in the quantity of primary co-operative banks.

Co-operative banks in India square measure registered beneath the Co-operative Societies Act.  The co-operative banks square measure additionally  regulated  by  the  Reserve  Bank  of India  (RBI)  and ruled  by  Banking laws  Act 1949 and Banking Laws (Co-operative Societies) Act, 1955.

Author: Kumar

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