Vidhi Codex

The Telangana State Co-operative Bank (Formation) Act, 1963

The Telangana State Co-operative Bank (Formation) Act, 1963

Finance19637 sections

This Act regulates the merger of the Andhra Co-operative Bank and the Hyderabad Co-operative Bank into a single, unified state cooperative bank. It applies directly to these merging banks, along with their shareholders, creditors, employees, and affiliated cooperative societies. This legislation matters because it consolidated banking operations across the region, transferring all assets, liabilities, and employee contracts to the new institution. By streamlining cooperative credit delivery under a central entity, the law ensured financial stability and smoother administration, facilitating crucial support for local agriculture and community development while preventing legal and employment disputes during the transition period.

Start reading →Read full ActSections
  1. 1. Short title and commencement.
  2. 2. Definitions.
  3. 3. Formation of the Andhra Pradesh Co-operative Bank by amalgamation of the Andhra Co-operative Bank and the Hyderabad Co-operative Bank.
  4. 4. Transfer of assets and liabilities to Andhra Pradesh Co-operative Bank from the date of formation.
  5. 5. Power to make rules.
  6. 6. Power to adapt.
  7. 7. Overriding effect of the Act.

PDF: pending for this language.