Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything contained elsewhere in this Act, the Registrar shall not take any action under this Act in respect of an insured co-operative bank without obtaining previous sanction of the Reserve Bank of India and without compliance with the requirements of the 47 of 1961. Deposit Insurance Corporation Act, 1961. Insurance of co-operative society. Insured co- operative bank. 389 The West Bengal Co-operative Societies Act, 1983. [West Ben. Act Power to add to the Fifth Schedule. Power to make rules. (Chapter XVIL—Miscellaneous.—Sections 146, 147.) Explanation.—"Insured co-operative bank" shall mean a co-operative bank which is an insured bank within the meaning of clause (1) of section 2 of the Deposit Insurance Corporation Act, 1961.