It has a three-tier set-up
State Co-operative Banks does not have access to RBI
It is an urban oriented Bank
It functions on sound business principles
Answer is Wrong!
Answer is Right!
The correct answer is: A. It has a three-tier set-up.
Co-operative banks in India are organized into a three-tier structure:
- Primary co-operative banks (PCBs) are the lowest tier and are located at the village or town level. They provide basic banking services to farmers, small businesses, and individuals.
- State co-operative banks (SCBs) are the second tier and are located at the state level. They provide a wider range of banking services than PCBs, including loans, deposits, and remittances.
- National co-operative bank (NCC) is the apex tier and is located at the national level. It provides support to the SCBs and PCBs, and also undertakes developmental activities in the co-operative sector.
State co-operative banks do have access to the Reserve Bank of India (RBI). The
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