Primary rural credit society, means a co-operative society by whatever name called:
(1) which has as its object or business the provision of financial accommodation to its members for agriculture or agricultural operation or for the marketing of crops, or for rural development; and
(2) the bye-laws of which do not permit admission of any other co-operative society as member:
Provided that this sub-clause shall not apply to the admission, as a member, of a co-operative society, which is a State co-operative bank or a Central co-operative bank by reason of such bank subscribing to the share capital of the co-operative society out of funds provides by the States Government for the purpose. [National Bank for Agriculture and Rural Development Act,1981 (61 of 1981), s. 2(n)]
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