Which of the following statements are correct about Co-operative Banks:
Which of the above statements is/are correct
A
1 only
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B
1 and 2 only
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C
2 and 3 only
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D
1, 2 and 3
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Solution
The correct option is C 2 and 3 only Cooperative Banks are registered under State Cooperative Societies Act. They are divided into two categories - rural and urban. They also come under regulatory ambit of RBI under two laws namely Banking Regulations Act, 1949 and Banking Laws(Cooperative Societies) Act, 1955