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).
Which of the following most likely increases the wealth of shareholders?
In the context of RBI’s guidelines on foreign exchange risk management, what is the role of an Authorized Dealer (AD) in monitoring users’ positions...
Calculate the interest coverage ratio of a company is it reported Net profit after tax of Rs.60,000, falls under 40% Tax rate and has 15% Debentures of ...
As per the Budget 2024, what is the newly increased deduction from family pension income under the new tax regime?
A rate at which RBI (Reserve Bank of India) lends to commercial banks by purchasing securities is know as ______
The transactional leadership looks at the relation between a leader and subordinate as a transaction of rewards which the followers receive for their ...
Which of the following statements is correct?
The inter-regulatory body to strengthen the mechanism for maintaining financial stability and promoting financial sector development is _________
Mr. Ankit received 1000 ESOPs at Rs.50 each. The fair value of the shares is Rs.120 at vesting time and Rs.130 at exercise time. What is the value of ES...
Which state received the highest Foreign Direct Investment (FDI) in Q1 FY25?