Question

What is cooperative banks and who regulates it?

Answer 1

Cooperative banks gives loans to the people of rural area at low interest .
They are regulated by RBI(Reserve Bank of India )

Answer 2

RBI

The cooperative bank is also regulated by the RBI. They are governed by the Banking Regulations Act 1949 and Banking Laws (Co-operative Societies) Act, 1965. These banks provide most services such as savings and current accounts, safe deposit lockers, loan or mortgages to private and business customers.