Question

Explain the major provisions of banking regulation act, 1949. Also explain the current changes in this act.

Answer 1

What are the main provisions of Banking Regulation Act 1949?

In addition to the cash reserve, every primary (urban) cooperative bank (scheduled/non-scheduled) is required to maintain liquid assets in the form of cash, gold or unencumbered approved securities which should not be less than 25 per cent of the total of its demand and time liabilities in accordance with the ...