Who regulates cooperative banks in India?

Q.  Which one of the apex bodies regulates the cooperative banks in India?
- Published on 16 Feb 17

a. NABARD
b. RBI
c. Sponsor Banks
d. Both A and B

ANSWER: RBI
 
Cooperative banks serve an important role in the Indian economy, especially in rural areas.

They are registered under the Cooperative Societies Act, 1912.

They are regulated by the Reserve Bank of India under the Banking Regulation Act, 1949 and Banking Laws (Application to Co-operative Societies) Act, 1965.

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