Section 13B of DICGC Act, 1961 : Section 13B: Registration Of Defunct Co-Operative Banks

Explanation using Example

Imagine a local cooperative bank, "Community Co-op Bank", which had been facing financial difficulties and was placed under a moratorium by the regulatory authorities to prevent its collapse. During this period, it is considered a defunct cooperative bank. The moratorium is a temporary suspension of its operations to try and resolve its financial issues. According to Section 13B of The Deposit Insurance and Cre...

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