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IBA >> Eligibility
for Membership |
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Eligibility for Membership |
There
are two classes of Members :
Any
Bank, Corporation, Company or Society
1.
Carrying on the business of, Banking in India |
2.
Governed by the Banking Regulation Act, 1949 |
Shall be eligible
to become an Ordinary Member of the Association.
PROVIDED
HOWEVER
- that only
those Foreign Banks shall be eligible to become
Ordinary Members of the
Association which are carrying on the business
of banking in India through a branch
as per the licence given by the Reserve Bank of
India,
- that only
those Co-operative Banks shall be eligible to
become Ordinary Members
which are Urban Co-operative Banks, working funds
of which are at least Rs.50
crores except that the existing Ordinary members
not fulfilling the revised eligibility
criteria may continue as such or may opt to be
associate Members.
Any Society, Association
or Organisation, which, in the opinion of the Managing
Committee is connected with the banking industry or
any financial institution approved by the Managing
Committee or any co-operative Bank or Foreign Bank
having an office in India not eligible to become an
Ordinary Member shall be eligible to become an Associate
Member of the association. |
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Tuesday, January 06, 2009 |
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