Section 13A(2) in The Deposit Insurance And Credit Guarantee Corporation Act, 1961
(2)Subject as aforesaid-(a)the Corporation shall register every existing co-operative bank as an insured bank before the expiry of thirty days next following the commencement of the Deposit Insurance Corporation (Amendment) Act, 1968 (56 of 1968);(b)the Corporation shall register as an insured bank-(i)every new co-operative bank [other than a primary credit society becoming a primary co-operative bank after the commencement of the Deposit Insurance Corporation (Amendment) Act, 1968 (56 of 1968) as soon as may be after it is granted a license under section 22 of the Banking Regulation Act, 1949 (10 of 1949);(ii)a primary credit society becoming a primary co-operative bank after such commencement within three months of its having made an application for a license under the said section:Provided that a bank referred to in clause (b) shall not be so registered if it has been informed by notice in writing by the Reserve Bank that such a license cannot be granted to it;](iii)[ every co-operative bank which has come into existence after the commencement of Deposit Insurance Corporation (Amendment) Act, 1968 (56 of 1968), as a result of the division of any other co-operative society carrying on business as a co-operative bank, or the amalgamation of two or more co-operative societies carrying on banking business, at the commencement of the Banking Laws (Application to Co-operative Societies) Act, 1965 (28 of 1965), or at any time thereafter, within three months of its having made an application for a license under the said section.]
