The Banking Regulation Act,1949 defines a Primary Cooperative Bank as a __:

The Banking Regulation Act,1949 defines a Primary Cooperative Bank as a __:
[A]Cooperative Society
[B]Non-scheduled Bank
[C]Primary Agricultural Cooperative Society
[D]Urban Cooperative Society

Cooperative Society
As per Section 5 (ccv) of Banking Regulation Act,1949, a Primary Cooperative Bank is a Cooperative Society (other than a Primary Agricultural Cooperative Society), primarily in banking business with capital and reserves of not less than Rs.1 lakh and whose byelaws do not permit admission of any other society as a member.

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  • gagan
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    What is CCV?