Section 13C in The Deposit Insurance And Credit Guarantee Corporation Act, 1961
13C. Cancellation of registration of co-operative banks. - he registration of a co-operative bank as an insured bank shall stand cancelled on the occurrence of any of the following events, namely:-
(a)if it has been prohibited from accepting fresh deposits; or(b)if it has been informed by notice in writing by the Reserve Bank that its license has been cancelled under section 22 of the Banking Regulation Act, 1949 (10 of 1949), or a license under that section cannot be granted to it; or(c)if it has been ordered or directed to be wound up; or(d)if it has transferred all its deposit liabilities in India to any other institution; or(e)if it has ceased to be a co-operative bank within the meaning of sub-section (2) of section 36-A of the Banking Regulation Act, 1949 (10 of 1949); or(f)if it has converted itself into a non-banking co-operative society; or(g)if in respect of it any scheme of compromise or arrangement or of reconstruction has been sanctioned by a competent authority and the said scheme does not permit the acceptance by it of fresh deposits; or(h)if it has been amalgamated with any other co-operative society; or(i)if it ceases to be an eligible co-operative bank, that is, if the law for the time being governing such co-operative bank does not provide for all or any of the matters referred to in clause (gg) of section 2.
