Exercises · Q11
Q.How does an urban co-operative bank differ from an ordinary credit co-operative society? Explain any three points.
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Start your 14-day free trial to unlock the full solution →An urban co-operative bank often grows out of a large urban credit society, but once it becomes a bank it differs from an ordinary credit co-operative society on several points. Three important ones are:
| Basis | Urban Co-operative Bank | Ordinary Credit Co-operative Society |
|---|---|---|
| Nature of business | Carries on full banking under an RBI licence — deposits withdrawable by cheque, loans, agency and utility services | Simply pools members' savings and lends them back; not a full bank |
| Customers | Serves its members and the wider public | Deals mainly with its own members |
| Regulation | Under dual regulation — the RBI (as a bank) and the Registrar (as a co-operative) | Under the Registrar of Co-operative Societies alone |
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