ISSN 2394-5125
 

Research Article 


CENTRAL CO OPERATIVE BANKS IN TAMILNADU PRESENT STATUS

Seena B Nair.

Abstract
The co-operative system in India is a primary mandate to ensure the mobilization of funds to the agriculture sector. It comprises short-term and long-term co-operative credit structures. The short-term co-operative credit structure operates with a three-tier system - Primary Agricultural Credit Societies (PACS) at the village level, Central Cooperative Banks (CCBs) at the district level and State Cooperative Banks (SCBs) at the State level. PACS are outside the purview of the Banking Regulation Act, 1949 and hence not regulated by the Reserve Bank of India. They are registered under the provisions of State Cooperative Societies Act of the State concerned and are regulated by the Reserve Bank. Powers have been delegated to National Bank for Agricultural and Rural Development (NABARD) under Sec 35 A of the Banking Regulation Act (As Applicable to Cooperative Societies) to conduct inspection of State and Central Cooperative Banks. The Cooperative credit structure is the single largest institutional credit delivery system in the State. It provides credit to the people particularly in rural areas at reasonable interest rate thereby reducing the dependency of the farmers on the informal credit source and usurious rate of interest. Geographically and culturally it is the most convenient institutional arrangement for availing the credit by farmers. Introduction The Tamil Nadu State Apex Cooperative Bank is the federation of the District Central Cooperative Banks. Being the Apex Bank, it raises resources and channelizes them through District Central Cooperative Banks for both agricultural and non-agricultural purpose. It also channelizes the refinance provided by National Bank for Agriculture and Rural Development (NABARD) towards short term and medium term agriculture and allied sector loans to District Central Cooperative Banks.


 
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Pubmed Style

Seena B Nair. CENTRAL CO OPERATIVE BANKS IN TAMILNADU PRESENT STATUS. JCR. 2020; 7(10): 1930-1932. doi:10.31838/jcr.07.10.339


Web Style

Seena B Nair. CENTRAL CO OPERATIVE BANKS IN TAMILNADU PRESENT STATUS. http://www.jcreview.com/?mno=112568 [Access: August 17, 2021]. doi:10.31838/jcr.07.10.339


AMA (American Medical Association) Style

Seena B Nair. CENTRAL CO OPERATIVE BANKS IN TAMILNADU PRESENT STATUS. JCR. 2020; 7(10): 1930-1932. doi:10.31838/jcr.07.10.339



Vancouver/ICMJE Style

Seena B Nair. CENTRAL CO OPERATIVE BANKS IN TAMILNADU PRESENT STATUS. JCR. (2020), [cited August 17, 2021]; 7(10): 1930-1932. doi:10.31838/jcr.07.10.339



Harvard Style

Seena B Nair (2020) CENTRAL CO OPERATIVE BANKS IN TAMILNADU PRESENT STATUS. JCR, 7 (10), 1930-1932. doi:10.31838/jcr.07.10.339



Turabian Style

Seena B Nair. 2020. CENTRAL CO OPERATIVE BANKS IN TAMILNADU PRESENT STATUS. Journal of Critical Reviews, 7 (10), 1930-1932. doi:10.31838/jcr.07.10.339



Chicago Style

Seena B Nair. "CENTRAL CO OPERATIVE BANKS IN TAMILNADU PRESENT STATUS." Journal of Critical Reviews 7 (2020), 1930-1932. doi:10.31838/jcr.07.10.339



MLA (The Modern Language Association) Style

Seena B Nair. "CENTRAL CO OPERATIVE BANKS IN TAMILNADU PRESENT STATUS." Journal of Critical Reviews 7.10 (2020), 1930-1932. Print. doi:10.31838/jcr.07.10.339



APA (American Psychological Association) Style

Seena B Nair (2020) CENTRAL CO OPERATIVE BANKS IN TAMILNADU PRESENT STATUS. Journal of Critical Reviews, 7 (10), 1930-1932. doi:10.31838/jcr.07.10.339