.....In case of losing banking character, these institutions would only be able to work as Cooperative Credit Society and no transaction whatsoever in the form of banking could take place. It is worthwhile to mention here that as a part of Government of India’s initiative of recapitalization of the week Cooperative Banks across the country, a committee headed by Prof Vaidyanathan was constituted to suggest ways and means for the accomplishment of this task. The Committee submitted its report along with a set of recommendations for the Central Government, State Governments, NABARD, RBI and the concerned Banks...............
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