摘要:Co-operative occupies an important position in the Indian financial system. Co-operatives were the first formal institutions to be conceived and developed to purvey credit to rural India. Urban co-operative banks are registered under Co-operatives Societies Act of the respective State Governments. Prior to 1966, UCBs were exclusively under the purview of State Governments. Urban co-operative banking sector essentially caters the credit needs of persons of small means.