The National Federation of Urban Cooperative Banks and Credit Societies Ltd. (NAFCUB) is an Apex Level Promotional body of Urban Cooperative Banks and Credit Societies Ltd. in the Country. The Federation was registered under the Multi-State Cooperative Societies Act as a Multi State Cooperative Society on

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	17th February 1998
B	17th February 1990
C	11th February 1982
D	17th February 1977

Explanation:

Detailed explanation-1: -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).

Detailed explanation-2: -The main objective of the National Federative is to promote Urban Cooperative Credit movement in the country. The other objectives of the Federation are as under: To provide a forum for discussion and follow up of issues relating to urban cooperative banks and co-operative thrift and credit societies.

Detailed explanation-3: -The NAFCUB is an Apex Level Promotional body of Urban Cooperative Banks and Credit Societies Ltd. in the Country. Its objective is to promote the urban cooperative credit movement and protect the interest of the Sector.

Detailed explanation-4: -1. State Cooperative Banks (SCBs): Functions and Organisation: State cooperative banks are the apex institutions in the three-tier cooperative credit structure, operating at the state level.

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