GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is known as highest or apex body of cooperative banks?
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Primary Credit Societies
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Local Co-operative Banks
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State cooperative Banks
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Central Co-operative Banks
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Explanation:
Detailed explanation-1: -National Bank for Agriculture and Rural Development (NABARD) is the apex body of cooperative banks in India.
Detailed explanation-2: -The Karnataka State Apex Cooperative Bank Ltd.
Detailed explanation-3: -The Act also provided for the formation of State and Central Cooperative Banks, which would act as the apex body of all cooperative credit societies. The State and Central Banks were empowered to provide loans to the registered societies, and also to inspect and audit them.
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