Explanation: Though the Banking Regulation Act came in to force in 1949, the banking laws were made applicable to cooperative societies only in 1966 through an amendment to the Banking Regulation Act, 1949. Since then there is duality of control over these banks with banking related functions being regulated by the Reserve Bank and management related functions regulated by respective State Governments/Central Government. The Reserve Bank regulates the banking functions of StCBs/DCCBs/UCBs under the provisions of Sections 22 and 23 of the Banking Regulation Act, 1949 (As Applicable to Cooperative Societies (AACS).
What is the effect on a ship’s buoyancy when it moves from a river to the sea?
Which river has tributaries named Neeru, Kalnai, and Sewa?
RBI Banking Ombudsman Office for Centralised Receipt and Processing Centre is located in ____________.
The leading Manganese producing State in India is –
Fifth five year plan is based on which of the following model
What is the program that translates source code into object code called?
Under which of the following articles comes the appointment of Administrator of the Union territory by the President of India?
Mandvi Beach, known for its golden-brown sand, is located in which Indian state?
Which nutrient is most likely to be affected by food processing and storage?
Who is the Minister of Education?
