BR ACT 1949 AACS PDF

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While overseeing the activities of primary urban cooperative banks, the Urban Banks Department performs three main functions : regulatory, supervisory and developmental. The Department performs these functions through its 17 regional offices. For commencing banking business, a primary urban cooperative bank, as in the case of commercial bank, is required to obtain a licence from the Reserve Bank of India, under the provisions of Section 22 of the Banking Regulation Act, As Applicable to Cooperative Societies.

In terms of sub-section 2 of Section 22 of the Banking Regulation Act, As Applicable to Cooperative Societies , the primary urban cooperative banks existing in the country as on March 1, , when some banking laws were applied to UCBs , were required to apply to the Reserve Bank of India. They were given three months to obtain a licence to carry on banking business.

Similarly, a primary credit society which becomes a primary urban cooperative bank by virtue of its share capital and reserves reaching Rs. The existing unlicensed primary urban cooperative banks can carry on banking business till they are refused a licence by the Reserve Bank of India. Under the provisions of Section 23 of the Banking Regulation Act, As Applicable to Cooperative Societies , primary urban cooperative banks are required to obtain permission from the Reserve Bank of India for opening branches.

The regulatory functions of Urban Banks Department relate to monitoring compliance with the provisions of the Banking Regulation Act, As Applicable to Cooperative Societies by urban cooperative banks. These provisions include :. Under the provisions of Section 11 of the Banking Regulation Act, As Applicable to Cooperative Societies , no primary urban cooperative bank can commence or carry on banking business if the real or exchangeable value of its paid-up capital and reserves is less than Rs.

As in the case of commercial banks, primary urban cooperative banks are also required to maintain certain amount of cash reserve and liquid assets. The scheduled primary urban cooperative banks are required to maintain with the Reserve Bank of India an average daily balance, the amount of which should not be less than 5 per cent of their net demand and time liabilities in India in terms of Section 42 of the Reserve Bank of India Act, Non-scheduled urban cooperative banks, under the provision of Section 18 of Banking Regulation Act, As Applicable to Cooperative Societies should maintain a sum equivalent to at least 3 per cent of their total demand and time liabilities in India on day-to-day basis.

For scheduled cooperative banks, CRR is required to be maintained in accounts with Reserve Bank of India, whereas for non-scheduled cooperative banks, it can be maintained by way of either cash with themselves or in the form of balances in a current account with the Reserve Bank of India or the state co-operative bank of the state concerned or the central cooperative bank of the district concerned or by way of net balances in current accounts with public sector banks.

The department also undertakes off-site surveillance of scheduled banks and non-scheduled banks with a deposit base of Rs crore and above based on a set of quarterly and annual returns. With a view to extending institutional credit support to tiny and cottage units, the Reserve Bank of India grants refinance facilities to urban cooperative banks under the provisions of Section 17 of the Reserve Bank of India Act, The refinance is given at the Bank Rate.

Training is imparted to the middle and top management of urban cooperative banks through College of Agricultural Banking, Pune. It also deals with conversion of cooperative credit societies into urban banks. They also verify compliance with the provisions of the Acts, ibid, and take suitable action against non-compliant UCBs. Policies relating to para banking activities such as merchant banking, hire purchase, leasing, insurance business, etc.

Skip to main content. Search the Website Search. Home About Us. Communication Policy of RBI. Regulatory Functions i Licensing of New Primary Urban Cooperative Banks For commencing banking business, a primary urban cooperative bank, as in the case of commercial bank, is required to obtain a licence from the Reserve Bank of India, under the provisions of Section 22 of the Banking Regulation Act, As Applicable to Cooperative Societies.

These provisions include : a. Minimum Share Capital Under the provisions of Section 11 of the Banking Regulation Act, As Applicable to Cooperative Societies , no primary urban cooperative bank can commence or carry on banking business if the real or exchangeable value of its paid-up capital and reserves is less than Rs.

Maintenance of CRR and SLR As in the case of commercial banks, primary urban cooperative banks are also required to maintain certain amount of cash reserve and liquid assets. Developmental Functions With a view to extending institutional credit support to tiny and cottage units, the Reserve Bank of India grants refinance facilities to urban cooperative banks under the provisions of Section 17 of the Reserve Bank of India Act, Administration This Section handles staff matters of the department.

Urban Banks Department. Developmental Functions. This Section handles staff matters of the department. New Bank Licensing and Branch Licensing.

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Banking Regulation Act, 1949

While overseeing the activities of primary urban cooperative banks, the Urban Banks Department performs three main functions : regulatory, supervisory and developmental. The Department performs these functions through its 17 regional offices. For commencing banking business, a primary urban cooperative bank, as in the case of commercial bank, is required to obtain a licence from the Reserve Bank of India, under the provisions of Section 22 of the Banking Regulation Act, As Applicable to Cooperative Societies. In terms of sub-section 2 of Section 22 of the Banking Regulation Act, As Applicable to Cooperative Societies , the primary urban cooperative banks existing in the country as on March 1, , when some banking laws were applied to UCBs , were required to apply to the Reserve Bank of India. They were given three months to obtain a licence to carry on banking business.

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The Banking Regulation Act, is a legislation in India that regulates all banking firms in India. It is applicable in jammu and Kashmir from Initially, the law was applicable only to banking companies. But, it was amended to make it applicable to cooperative banks and to introduce other changes. The Act provides a framework under which commercial banking in India is supervised and regulated. The Act supplements the Companies Act,

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