Role of the State Government

(1) No society in Co-operative Credit Structure shall be exempted by the State Government in any manner from the application of the provisions of this chapter without prior approval of the Reserve Bank or the National Bank. The State Government shall not do anything or take any action or issue any order or directive which may have effect of curtailing any of the freedoms or powers given under this chapter to the societies in Co-operative Credit Structure or adversely affect the operation of the provisions of this chapter.