BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Nationalised Banks
|
|
|
Foreign Banks having branches in india
|
|
|
State Bank of India and its associates Banks
|
|
|
Primary agricultural credit socities and co-operative land mortgage banks
|
Detailed explanation-1: -Under the provisions of Section 23 of the Banking Regulation Act, 1949 (As Applicable to Cooperative Societies), primary (urban) cooperative banks are required to obtain permission from the Reserve Bank of India for opening branches.
Detailed explanation-2: -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.
Detailed explanation-3: -Primary Agricultural Credit Society and cooperative land mortgage banks are excluded from the Act.
Detailed explanation-4: -Exclusions: The Act does not apply to certain cooperative societies. These are: (i) primary agricultural credit societies, (ii) cooperative land mortgage banks, and (iii) any other cooperative societies (except those specified in the Act).