Sec. 194A doesn't make a distinction between Co-operative Bank and Co-operative society engaged in b

IT : None of the State or Central enactments make any distinction between a co-operative society engaged in carrying on banking business and a co-operative bank. Section 7(1) of the Banking Regulation Act,1949 which obliges co-operative society carrying on the business of banking to use the words "bank", "banker" or "banking" as part of its name clinches the issue. Therefore, a co-operative bank will be covered under the category "co-operative society engaged in carrying on banking business" and