Full Text
REGD. No. D. L.-33004/99
The Gazette of India
CG-DL-E-10122025-268401
EXTRAORDINARY
PART II-Section 3-Sub-section (i)
PUBLISHED BY AUTHORITY
No. 805]
NEW DELHI, WEDNESDAY, DECEMBER 10, 2025/AGRAHAYANA 19, 1947
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 10th December, 2025
G.S.R. 891(E). — In exercise of the powers conferred by section 52 read with clause (zj) of section 56 of
the Banking Regulation Act, 1949 (10 of 1949), and after consultation with the Reserve Bank of India, the Central
Government hereby makes the following rules further to amend the Banking Regulation (Co-operative Societies)
Rules, 1966, namely:—
1. Short title and commencement. — (1) These rules may be called the Banking Regulation (Co-operative
Societies) Amendment Rules, 2025.
(2) They shall come into force on the 15th day of December, 2025.
2. In the Banking Regulation (Co-operative Societies) Rules, 1966, (hereinafter referred to as "the said rules”),
in rule 2, after clause (a), the following clause shall be inserted, namely: -
"(aa) "ineligible director" means a director who does not fulfil the requirements under clauses (a) and (b) of
sub-section (2) of section 10-A of the Act.";
3. In the said rules, —
(a)after rule 5, the following rule shall be inserted, namely: –
"5-A. Manners of determination of drawing of lots of director or person who will cease to hold office or
removed from the membership of Board of Directors. —
(1) The Board of directors shall ascertain the number of director or directors out of the ineligible directors,
who have to cease to hold the office, for the purpose of reconstitution of the Board of directors under sub-
section (3) of section 10-A of the Act, as per sub-rule (3) of these rules.
(2) The Reserve Bank shall ascertain the number of person or persons out of the ineligible directors, who are
to be removed from the membership of Board of directors for the purpose of composition of the Board of
directors in pursuance of sub-section (5) of section 10-A of the Act, as per sub-rule (3) of these rules.
(3) The name of the director or directors and person or persons, as the case may be, who shall be ceased to
hold office or removed from the membership of Board of directors, as the case may be, under sub-rule (1)
and (2) shall be determined by drawing of lots from among the ineligible directors or the persons, as the case
may be.
(4) For the purposes of sub-rule (3), the following procedure shall be followed, namely: —
(a) the names of the ineligible directors shall be grouped according to the period for which the directors have
held office;
(b) if there are two such groups only, the names of the directors in the group representing a shorter period of
office shall be excluded;
(c) if there are more than two such groups, the names of those in the group representing the shortest period
of office shall be excluded:
Provided that such exclusion under clauses (b) or (c) shall not be made if thereby the number of
directors whose names are to be included in the draw is not more than the number determined under sub-rules
(1) and (2).
(5) The drawing of lots in pursuance of sub-section (3) of section 10-A of the Act shall be done by the Board
of directors at a meeting of such Board.
(6) The drawing of lots of the Reserve Bank under sub-section (5) of section 10-A of the Act shall be done
by an officer of the Reserve Bank duly authorised in this behalf, and after giving a reasonable opportunity to
the co-operative bank to nominate a director or officer of the co-operative bank to be present at the time of
the drawing of lots."
(b) rule 11 shall be omitted.
(c) in FORM I, —
(i) under the heading "As at the close of business on" for "First alternate Friday", "Second alternate
Friday" and "Third alternate Friday", the following shall be substituted namely: –
"15th day of the month" and "Last day of the month", respectively.”;
(ii) in PART A, —
(a) in clause I, in sub-clause (a) in item (i), the words “subsidiary banks and” shall be omitted and
after the words "corresponding new banks", the words "and IDBI Bank limited" shall be
inserted.";
(b) in clause III, in sub-clause (a), the words “subsidiary banks and” shall be omitted and after the
words "corresponding new banks”, the words “and IDBI Bank limited” shall be inserted.";
(iii) in PART B, for clause IX, the following clause shall be substituted, namely:- "IX. Such per cent. of
IV, as on the last day of the second preceding fortnight, as notified by the Reserve Bank.”;
(iv) in PART C, for clause XI, the following clause shall be substituted, namely:-
"XI. Such per cent. of IV, as on the last day of the second preceding fortnight, as notified by the
Reserve Bank.";
(v) in PART D, –
(a) for clause XIII, the following clause shall be substituted, namely: -
"XIII. Such per cent. of IV, as on the last day of the second preceding fortnight, as notified by the
Reserve Bank.";
(b) in clause XIV, after sub-clause (e), the following sub-clause shall be inserted, namely: -
"(f) Amount deposited with the Reserve Bank, under Standing Deposit Facility Scheme.";
(vi) after clause XIV, in the Foot Notes, —
(a) in the foot note 2, for the words “an alternate Friday", the words, figures and letter “the 15th or
the last day of the month", shall be substituted;
(b) in the foot note 4$, serial number (ii) shall be omitted;
(c) in the foot notes 5X, for the words "Industrial Development Bank of India", the words "the
National Housing Bank, the Small Industries Bank" shall be substituted.
(d) in FORM IX, —
(i) for the words "on the last Friday" at both the places where they occurred the words "on the
last day * of the month" shall be substituted.",
(ii) in clause A, —
(a) in sub-clause 4, in item (c), sub-item (iii) shall be omitted.
(b) in sub-clause 5, in item (c), sub-item (iii) shall be omitted.
(iii) in clause B,
(a) in sub-clause 2, for item (b), the following item shall be substituted, namely: -
"(b)with the State Bank of India.";
(b) in sub-clause 3, for item(a), the following item shall be substituted, namely:-
"(a)with the State Bank of India.";
(c) in sub-clause 4, in item (g), for sub-item (i), the following sub-item shall be substituted, namely:-
"(i) the State Bank of India."
(d) for the word “Friday “, the word “day” shall be substituted.”.
[F. No. 7/19/2023 (Part-II)-BOA-I]
SHALINI PANDIT, Jt. Secy.
Note: The principal rules were published vide number G.S.R. 1837, dated 21st November, 1966, in the Gazette of India,
Part II, Section 3, Sub-section (i), vide dated 3rd December, 1966 and subsequently amended vide the Ministry of Finance
Notifications mentioned below: —
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Sl. Notification No. Date
No.
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1. F.101/66-SB 18-10-1967
2. F. 18/No. 9/68-SB 30-10-1969
3. F.1-26/71/AC-II 23-5-1974
4. 8/18/77-AC 31-1-1979
5. 8(9)/80-AC 7-2-1983
6. F.1/22/84-B. O-I 29-3-1985
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