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co-operative banks
#1
according to BR act co-operative banks are registered either under the state laws governing co-operative or under the multi-state co-operative societies act.

if a cooperative bank operates only in one state, the state law applies and if operates in more than one state, the central act applies.

the minimum paid up capital and reserves required to commence or carry on banking business by a cooperative bank is not less than rs 1 lakh

every cooperative society require a licence from RBI under section 22 of B R Act

DICGC: The Deposit Insurance and Credit Guarantee Corporation Act , 1961

DICGC which provide for insuring deposits of banks, is applicable to co-operative banks also.
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