Amendment status not verified — confirm the current text below against the official source.
and Classified as an apex society by the Rev1st1211 (i1) after clause (5), the following hew clause (5a) sha11 be jnsefled, name1y,~ ‘(SaVCapitzfl to Risk Weighted Assets Ratio" means the eapita1 adequacy norms stipulated by the National Bank from time to timef; (iii) after clause (6), the fo110wing new C1ause (6a) sha11 be inserted, name1y; 1‘ ‘( 6a) “Chartered Accountant” means a member 0fthe Institute ofChanered Accountants oflhdia within the meaning ofthe Chartered Accountants Act, 1949 (38 0f19491;’; (iv) in c1ause (11), for the words “30th day deune”, the words "31st day ofMarch” she” be substihxted; (v) after c1ause (19)., the 1b11owing new clause (19a) shah be inserted. namely,- ‘( 193,) “Long Term Co—opel'atwe Credit Structure Society" means the Co-operative Credit Institutions (Land Deve10pmem Banks) advancing loans other than short tenn loans comprising of State Co—operative Land Development Bank and Primary Co—opemtive Land Development Banks, State Co—operative Bank and any other Cooperative Bank permitted by the Registrar 10 function as a Land Development Bank under section 142;’; (vi) after c1ause (20), 111:: f011owing new c1auses ( 20a) and (20b) shall be inserted, namely; ‘(3()a) “Muhipurpose Co—operative Society” means a primary co—operative society the object of which is to provide various services including services related to credit, business, industx’y‘consumer durables to its members; ((2%) “National Bank” means the National Bank for Agriculture and Rura1 Deve10pment established under section 3 ofNational Bank for Agricuhure and 1111131 DevelopmentAct, 1981 (61 of 1981);’; ‘ (vii) after clause (22), the Following new clauses (22a) and (22b) shall be inserted, namely; “(2,2a) “Primary Agricultura1 Credit Society" means a Primary Agricultural Cooperative Credit Society as defined under clause (cciv)ofsecti0n 5 of Banking ReguIation Act,1949(10 of 1949) and includes a.Mu1tipurpose_ Co—operative Society; (22b) “Primary Society” means a co-operative society whose membership consists exclusivdy of individuals and se1fhelp groups;’; (viii) after c1ause (25), the f0110wing new c1ause (25a) shah be inserted, namely,— ‘(2Sa) “Reserve Bank“ means Reserve Bank of India constituted under section 3 0f the Reserve Bank of India Act, 1934 (2 of 1934 );’; 1M . (ix) after clauée (:27), the f011owing new clause (2721) shall be insetted; namely.— ‘(27a) “Short Term Co-operative Credit Structure Society” means the Short—Term . Co—‘operative Credit Structure Society at the apex 1eve1 and the primary lewd and includes the State Co-operative Bank and a Primary Agncuhum : Co-opei‘ative Credit Society;’; (2:) after clause 30. the fol1owing new clause (30a) shall be inserted, namely,- ‘(3021) “State Co-operative Bank” means an Apex Society engaged in thehusincss 01“ banking;’; (x1) after clause (32), the following new c1ause (3221) shah be inserted, mama),— ‘(3220 “The Urban Co—operative Bank” means a, cooperative societyother than :1 Primaiy Agricultural Co—operative Credit Society which is heensed by the Reserve‘Bank ofIndia under section 22 of the Banking Regulation Act, 1 949;”,