Direct Tax
Consulting
ESG Advisory
Indirect Tax
Growth Advisory
Internal Audit
BFSI Audit
Industry Audit
Valuation
RBI Services
SEBI Services
IRDA Registration
AML Advisory
IBC Services
NBFC Compliance
IRDA Compliance
Finance & Accounts
Payroll Compliance Services
HR Outsourcing
LPO
Fractional CFO
General Legal
Corporate Law
Debt Recovery
Select Your Location
Co-operative banks are small-sized units which are organized in the co-operative sector of urban and non-urban centers. They have become a vital part of the success of Indian Financial Inclusion story. They have accomplished many landmarks since their creation and have helped a normal rural Indian to feel empowered and secure. The Co-operative Bank is organized and managed with the dictum of co-operation, self-help and mutual help.
Every Cooperative society shall obtain a license from the Reserve Bank of India to carry banking business in India. It shall also incorporate bye-laws duly approved by the Registering Authority.
The Bye-laws of the co-operative banks shall comprise the geographical area/s of Bank. The primary (urban) co-operative bank (UCB) may expand their Area of Operation by passing a resolution by the general body.
After expanding the bye-laws registered with the Registrar of Co-operative Societies (RCS)/Central Registrar of Co-operative Societies (CRCS) shall be amended.
The UCBs licensed under Tier I and Tier II, may extend its area of operation as stated above without prior permission from the Reserve Bank of India which is subject to satisfying the following conditions:
All other Banks is other than Tier I Bank.
Financially sound and well managed (FSWM) UCBs[1] having a minimum assessed the net worth of ₹ 50 crores, is allowed to extend their area of operation beyond the State of registration as also to any other State/s of their choice subject to the criteria stipulated above for FSWM.
Considering the importance of the Co-operative Banks in Indian Financial market, RBI has granted relaxation on prior approval requirement to some USBs to extend the area of operation than mentioned in bye-laws.
Also, Read: Shifting of Branches by Cooperative Banks RBI Approval.
The insurance industry is on the edge of a transformative era. As we enter 2024, technological...
The Indian Cybercrime Coordination Centre reported a rise in digital financial fraud, which has...
During its 203rd meeting on 25th November 2023, the Securities and Exchange Board of India (SEB...
If you want to expand your portfolio beyond standard stocks and bonds, Alternative Investment F...
NBFCs in India encounter significant challenges related to the compounded effects of outstandin...
Are you human?: 5 + 4 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
Co-operative banks are small-sized entities structured in the co-operative sector which function together in urban...
13 Jun, 2019
Q. 1) What is Multi-State Cooperative Society? Ans.: Any society formed with the object of the social and economic...
03 Jun, 2019