Status of Co-Operative Banks in India
Author : Pankaj Purushottam Mankar and Dr. Astik S Rangneniwar
Abstract :
India, the co-operative movement is given more credit. The first level in this is the State Co-operative Bank. The second level is the district central bank and the third level is the primary institution of primary nature. All of them need credit. Considering this matter, it was decided to establish a district central bank in each district. The membership and initiation of these banks were given to the farmers and cooperative societies of that district, then it was decided not to give the membership of these banks to individuals through the Reserve Bank. But initially it was given membership to individuals so the members of the bank have been given the form of individuals and institutions. The working area of that bank is an entire district. The headquarters of this bank is located in the district. Later there are branches of this bank in all the talukas, if necessary a new branch is also opened leaving the branch in the taluka. Through this bank, loans are provided to farmers and many types of cooperative societies in the district. Capital issue may arise in front of this bank while supplying this cost. Considering this matter, the bank can get financial assistance from the State Co-operative Bank. This bank is a member of the State Co-operative Bank. The second Co-operative Act of 1972 provides for the establishment of this bank. This bank is responsible for the development of the cooperative movement in the entire district. A bank which is democratically run. Taluka representatives are sent from each taluka to this bank. It is from this that the working of the management of this bank is prepared. The president is elected from the executive.
Keywords :
Co-operative banks, Capital, RBI/NABARD, Act of 1949, UCB’s.
