Application of the Chapter to cooperative Bank

Cooperative Bank

44 AJ. Application of the Chapter to cooperative Bank. –

1. (1) The provisions of this chapter shall apply to a Cooperative Bank as defined in the Deposit Insurance Corporation Act, 1961 (47 of 1961) in addition to the provisions contained in other parts of this Act, where any question of apparent or implied inconsistency arises, the provisions of this Chapter shall prevail over the provisions of the other parts of this Act.
2. (2) For the purposes of this chapter,” Deposit insurance corporation means the Deposit insurance corporation established under the Deposit Insurance Corporation Act, 1961) and “Reserve Bank’ means the Reserve Bank of India established under the Reserve Bank of India Act, 1934 (2 of 1934)