Section 172(2) in The U.P. Co-operative Societies Rules, 1968
(2)In the case of a financing bank being wound up, the surplus funds shall be assigned to the Reserve Fund of any other financing bank or banks to which the societies working in the area of operation of the financing bank which is being wound up, are affiliated. In the absence of any financing bank, the amount shall be deposited in the Apex Co-operative Bank until a new financing bank is formed in such area in which case the amount shall be credited to the reserve fund of the new financing bank.
