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(1) When an order of moratorium has been made by the Central Government under sub-section (2) of section 45 of the Banking Regulations Act, 1949 (10 of 1949) in respect of a co-operative bank, the Registrar, with the previous approval of the Reserve Bank in writing, may, during the period of moratorium, prepare a scheme -
(a) for the reorganization of the co-operative bank; or
(b) for the amalgamation of the co-operative bank with any other co-operative bank.
Last Updated Date :- 09-05-2018
Page last updated on: 10-11-2020