EligibilityofUrbanCo-operativeBanktoengageBC.docVIP

 PAGE \* MERGEFORMAT 72 Cooperative Banking – CAIIB Elective Paper - Updates Banking Regulation Act, 1949: Application of the Act to Cooperative Banks -- Important Provisions Banking Regulation Act came into being in 1949. Prior to that, certain provisions of the Companies Act, 1913 were applicable to Banking Companies. The need for the Act was felt with many banks in poor financial health due to poor management of loan/investment portfolio and non- maintenance of adequate liquidity. This was also further complicated by mushroom growth of banks and closure and failure of some banks The