Question

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Cooperative banks falling under the Banking Regulation Act, 1949 are controlled by:

• A. NABARD
• B. National Cooperative Union of India
• C. Reserve Bank of India
• D. None of the above

Answer 1

The correct option is C Reserve Bank of India

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> In 1966 those banks with a paid-up share capital and reserves of over ​ ₹ 1 lakh were brought under the purview of Banking Regulation Act 1949. ​They are controlled and its functions are regulated by RBI.