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Enter User Name. Enter Password. Remember Me Forgot Password? Alternatively, you can log in using: Login with Facebook. To qualify as a scheduled bank, the paid up capital and collected funds of the bank must not be less than Rs5 lakh. Scheduled banks are eligible for loans from the Reserve Bank of India at bank rate, and are given membership to clearing houses.
Non-scheduled banks by definition are those which are not listed in the 2nd schedule of the RBI act, Banks with a reserve capital of less than 5 lakh rupees qualify as non-scheduled banks. Co-operative banks operate in both urban and non-urban areas. All banks registered under the Cooperative Societies Act, are considered co-operative banks.
In the urban centers, they mainly finance entrepreneurs, small businesses, industries, self-employment and cater to home buying and educational loans. Likewise, co-operative banks in the rural areas primarily cater to agricultural-based activities, which include farming, livestocks, dairies and hatcheries etc. They also extend loans to small scale units, cottage industries, and self-employment activities like artisanship. Regional Rural Banks or RRBs, simply put, serve the rural areas and agricultural sectors with basic banking and adequate financial services.
They were set up in , based on the recommendations of a committee. Co-operative banks are subject to the rules laid down by the Registrar of Co-operative Societies. Co-operative banks have lesser scope in offering a variety of banking services than commercial banks. Commercial banks in India are on a larger scale.
They have adopted the system of branch banking, so they have countrywide operations. Co-operative banks are relatively on a much smaller scale. Commercial banks in India are of two types: i public sector banks and ii private sector banks. Commercial banks mostly provide short-term finance to industry, trade and commerce, including priority sectors like exports, etc. Co-operative banks offer a slightly higher rate of interest to their depositors than commercial banks.
In co-operative banks, borrowers are member shareholders, so they have some influence on the lending policy of the banks, on account of their voting power.
Borrowers of commercial banks are only account- holders and have no voting power as such, so they cannot have any influence on the lending policy of these banks. Co-operative banks have not much scope of flexibility on account of the rigidities of the bye-laws of the Co-operative Societies.
Commercial banks, on the other hand, are free from such rigidities. Commercial Banks. You must be logged in to post a comment. Urban Co-Operative Banks of India. Leave a Reply Click here to cancel reply. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits.
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