The banking model consists of a district central bank for each district in every state of India known with a name as a respective District Central Co-operative Bank. The members and their elected directors who represent a multitude of professional cooperative bodies like milk unions, urban cooperatives, rural cooperatives, agricultural and non-agricultural cooperatives, and various others in turn elect the bank's president. These banks are collectively represented by a State Apex Central Co-operative bank for each state and it acts as the ultimate bank and apex body for the DCCBs in each state. It has been widely observed all over the country that the local politicians who hold the sway over the cooperatives get elected as President of the DCC bank and a president post would mean nurturing for their future political ambitions.[citation needed] However, this trend, which has become a national phenomenon, carries its own advantages and disadvantages.[4]
Banking in India
Institutes | Central bank | |
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Regulation | |
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People | |
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Buildings | - Reserve Bank of India Staff College
- RBI Monetary Museum
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Subsidiaries | |
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Think tanks | |
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Speciality banks | |
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Other | |
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Public-sector banks | |
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Private-sector banks | |
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Foreign banks | Wholly owned subsidiary (WOS) | |
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Wound up/closed (or in process) | |
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Small finance banks | |
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Payments banks | Surrendered licencees | |
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Wound up | |
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Cooperative banks | |
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Regional Rural Banks | |
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Defunct banks | Merged | |
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Wound up | |
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Failed | |
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Liquidated | |
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Networks | |
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Cards | |
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Online transfers | |
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Payment service providers | |
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Related topics | Protocol and codes | |
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Rates and ratios | |
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Regulators | |
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Insolvency, bankruptcy and reconstruction | Boards | |
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Legislation | |
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Companies | - ARCIL
- Edelweiss ARC
- IAMCL
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Legislation | - Banking Regulation Act, 1949
- Government Securities Act, 2006
- IBC, 2016
- NaBFID, 2021
- RBI Act, 1934
- SARFESI Act, 2002
- Income-tax Act, 1961
- Companies Act, 2013
- Insurance Act, 1938
- FEMA, 1999
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Tribunals | |
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Measures | |
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Other | |
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