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Framework to regulate and oversee co-operative banks and deposits

News and Press Release - Dated:- 29-11-2016 - Reserve Bank of India (RBI) regulates and supervises the banking functions of State Cooperative Banks (StCBs)/District Central Cooperative Banks (DCCBs)/Urban Cooperative Banks (UCBs) under the various pr .....

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fall under the jurisdiction of the concerned Registrar of co-operative societies. Under Section 35(6) of the Banking Regulation Act, 1949 (As applicable to Cooperative Societies), National Bank for Agriculture & Rural Development (NABARD) has co .....

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ABARD has informed that these banks are servicing their depositors. RBI has informed that it has prescribed uniform Know Your Customer (KYC) norms for all commercial and cooperative banks and its Master Directions on KYC guidelines are uniformly appl .....

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