Opening of cooperative society account

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Pavan Kumar (Querist)
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17 January 2024 One co-operative society registered under karnataka co-operative society act 1959

Is it mandatory to obtain permission from co-operative department for opening the account in a nationalised bank?

Asha Kanta Sharma online

Asha Kanta Sharma online

(Expert)
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20 January 2024 The government allows societies to open an account with a nationalized bank upon receiving approval from the Registrar of Co-operative Societies.

https://mygate.com/blog/housing-society/importance-of-great-banking-partners-for-your-housing-community/#:~:text=The%20very%20inception%20of%20a,Registrar%20of%20Co%2Doperative%20Societies.