Section 57B(20) in The Chhattisgarh Co-Operative Societies Act, 1960
(20)No primary agricultural credit co-operative society or its federation or association (except those which are permitted to act as a bank under Banking Regulation Act, 1949 (10 of 1949) shall be registered with the term 'bank' or any other derivative of the term 'bank' in its registered name or shall use the same as a part of its name:Provided that where any primary agricultural credit co-operative society or its federation or association (except those which has permitted as a bank under Banking Regulation Act, 194P (10 of 1949) has been registered using the term "bank" before the coming into force of this Act, the term "bank" along with its derivatives term shall be omitted within three months from the date of enforcement of this Act:Provided further that where any such society fails to comply with the above provisions within the period specified therein, the Registrar shall order the winding up of such society after giving a reasonable opportunity of being heard.
