The Andhra Pradesh State Co-operative Bank (Formation) Act, 1963
The Andhra Pradesh State Co-operative Bank (Formation) Act, 1963
The Andhra Pradesh State Co-operative Bank (Formation) Act, 1963 established a unified apex co-operative bank for Andhra Pradesh by merging the Andhra State Co-operative Bank and the Hyderabad Co-operative Apex Bank. This legislation applies to state co-operative institutions, agricultural credit societies, and their member depositors. Under this law, all assets, liabilities, contracts, and legal rights of the two predecessor banks were transferred to the new unified institution. By creating a centralized banking structure, the Act streamlined rural credit delivery, strengthened financial governance, and supported agricultural development across the state.
- 0. Preamble
- 1. Short title and commencement- (1) This Act may be called the Andhra
- 2. Definitions- In this Act, unless the context otherwise requires,-
- 3. Formation of the Andhra Pradesh Co-operative Bank by
- 4. Transfer of assets and liabilities to the Andhra Pradesh Co-operative
- 5. Bank and may be enforced as if the Andhra Pradesh Co- operative Bank had been a party thereto.
- 6. Power to adapt- For the purpose of giving effect to the provisions of this
- 7. Repealed by Act 7 of 1964.
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