Amendment status not verified — confirm the current text below against the official source.
(1) When an order of moratorium has been made by the Central Government under sub-section (2) of section 45 of the Banking Regulations Act, 1949 (10 of 1949) in respect of a co-operative bank, the Registrar, with the previous approval of the Reserve Bank in writing, may, during the period of moratorium, prepare a scheme - (a) for the reorganisation of the co-operative bank; or (b) for the amalgamation of the co-operative bank with any other co-operative bank. Liability of a co-operative bank to the Deposit Insurance Corporation.