Economics · Banking System in India
Which of the following statements is INCORRECT regarding Cooperative Banks in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1RBI extends refinance facility to cooperative banks through NABARD and direct channels.
- 2They originated with the enactment of the Co-operative Credit Societies Act of 1904.
- 3RBI acts as a regulatory and supervisory authority for primary urban cooperative banks.
- 4These banks are registered solely under the Co-operative Societies Act of the Central Government.✓
Correct answer
These banks are registered solely under the Co-operative Societies Act of the Central Government.
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