Types of bank

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Sarthak Abhyankar (Querist)
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14 August 2013 Sir,
What is the difference between schedule bank and co-operative bank?
And who will regulate the working of these bank??
Thanks

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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14 August 2013 Co-op bank is governed by co-op society laws alongwith rbi act.
Schedule bank are governed by Banking regulation act and RBI Act.

Ganeshbabu K

Ganeshbabu K (Expert)
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14 August 2013 1)Scheduled Banks in India are those banks which have been included in the Second Schedule of Reserve Bank of India (RBI) Act, 1934.

2)So Scheduled banks Fully controlled by the rules and regulation by the RBI.

3)Co operative Banks in India are registered under the Co-operative Societies Act. 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.

Thanks & regards
Ganesh babu k

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