Question

(3) Banking regulation net: 1949 :: Co-operative credit society act
Ans.:​

Answer 1

Explanation:

Under the provisions of section 11 of the Banking Regulation Act, 1949 (As applicable to cooperative societies), no primary (urban ) cooperative Bank can commerce or carry on banking business if the real or exchangeable value of its paid-up capital and reserves is less than Rs . one lakh

Hope it is helpful to you