Agricultural credit societies exempted from the scope of Banking Regulation Act, 1949

The Central Government vide Notification dated June 26, 2020 has issued the Banking Regulation (Amendment) Ordinance, 2020. As per the ordinance, the The Banking Regulation Act, 1949 shall no longer apply to the following entities in the Financial Sector:

  • A primary agricultural credit society.
  • A co-operative society providing long term finance for agriculture.

Click here to read the Notification

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