Co-operative Societies: Kerala High Court notice to Centre, RBI on challenge to Banking Regulation Act amendments

The amendments transgress and annihilate the provisions of Kerala Co-operative Societies Act framed under List II of the 7th Schedule of Constitution which makes co-operative societies a State subject, the plea said.
Kerala High Court with RBI logo
Kerala High Court with RBI logo

Two Urban Co-operative Banks (UCB) registered under the Kerala Co-operative Societies (KCS) Act and Rules, 1969 have moved the Kerala High Court against certain provisions of the Banking Regulation (Amendment) Act, 2020. (Tiruvalla East Co-operative Bank & Anr. v Union of India & Ors.)

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