Which one of the apex bodies regulates the cooperative banks in India?

a. NABARD

b. RBI

c. Sponsor Banks

d. Both A and B

ANSWER: RBI

Explanation:

Cooperative banks serve an important role in the Indian economy, especially in rural areas.

They are registered under the Cooperative Societies Act, 1912.

They are regulated by the Reserve Bank of India under the Banking Regulation Act, 1949 and Banking Laws (Application to Co-operative Societies) Act, 1965.