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.