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 lately, and their business in urban areas in addition has increased phenomenally in recent years primarily due to the sharp increase within the amount 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.
The co-operative banking structure in Republic of India is divided into short structure and long structure. Whereas the short structure is 3 tier structures, long co-operative banking structure is that the 2 tier structures as mentioned below:
Short-Term Co-operative Bank Structure:
A State Co-operative Bank works at the apex level (i.e. works at state level).The Central Co-operative Bank works at the Intermediate Level ( i.e., District Co-operative Banks ltd. works at district level)Primary co-operative credit societies at base level (At village level)
Long-Term Co-operative Bank Structure:
State Co-operative Agriculture and Rural Development Banks (SCARDBs) at the apex level. Primary Co-operative Agriculture and Rural Development Banks (PCARDBs) at the district level or block level.
The structure of cooperative network in Bharat is divided into two broad segments-
- Urban Cooperative Banks
- Rural Cooperatives
Urban Cooperatives is additional divided into regular and non-scheduled.
Each the class’s square measure additional divided into multi-state and single-state. Majority of those banks fall within the non-scheduled and single-state class.
Urban Cooperative Banks:
Banking activities of Urban Cooperative Banks square measure monitored by run batted in. Registration and Management activities square measure managed by Registrar of Cooperative Societies (RCS). These RCS operate in single-state and Central RCS (CRCS) operate in multiple state.
Rural Cooperative Banks:
Rural Cooperatives the agricultural cooperatives square measure additional divided into short-run and long-run structures.
The short-run cooperative banks square measure 3 beds in operation in numerous states. These are- State Cooperative Banks- They operate at the apex level in states District Central Cooperative Banks-They operate at the district levels Primary Agricultural Credit Societies-They operate at the village or grass-root level. Likewise, the long-run structures square measure additional divided into – State Cooperative Agriculture and Rural Development Banks (SCARDS)- These operate at state-level.
Cooperative Agriculture and Rural Development Banks (PCARDBS)-They operate at district/block level. The agricultural banking cooperatives have a posh observation structure as they need a twin management that has junction rectifier to several issues.
A Forum referred to as State Level Task Force on Cooperative Urban Banks (TAFCUB) has been set-up to appear into problems associated with duality up to the mark. All banking activities square measure regulated by a shared arrangement between run batted in and NABARD. All management and registration activities square measure managed by RCS.
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