In the Karnataka Co-operative Societies Act, 1959 (Karnataka Act 11 of 1959) (hereinafter referred to as the Principal Act), in Section 2,-
(i) after clause (a-1), the following shall be inserted; namely:- "(a-1-1) 'Agriculture and Rural Development Bank’ means a Co-operative Agriculture and Rural Development Bank registered or deemed to be registered under this Act and admitted as a member of the State Agriculture and Rural Development Bank and includes such class or classes of co-operative societies as may be notified by the Registrar and admitted as members of the State Agriculture and Rural Development Bank."
(ii) after clause (a-2), the following shall be inserted, namely:- “(a-2-1) 'Backward Class' means such class or classes of citizens as may be notified by the State Government as backward class in the list from time to time as defined in the Karnataka State Commission for Backward Classes Act, 1995(Karnataka Act No.28 of 1995)”
(iii) after clause (b-1), the following shall be inserted, namely:- "(b-2) 'Co-operative Credit Structure' means and includes Primary Agricultural Credit Cooperative Societies by whatever name called, Central Co-operative Banks, State Co-operative Bank, Agricultural and Rural Development Banks and State Agricultural and Rural Development Bank."
(b-3) 'Central Co-operative Bank' means a federal society engaged in the business of banking.
(b-4) 'Chartered Accountant' means a member of the Institute of Chartered Accountants of India within the meaning of the Chartered Accountants Act, 1949 (Central Act No.38 of 1949)."
(iv) after clause (f), the following shall be inserted, namely:- "(f-1) 'Multipurpose Cooperative Society' means a primary society the object of which is to provide various services including services related to credit, business, industry or consumer durables to its members."
3 "(f-2) 'National Bank' means the National Bank for Agriculture and Rural Development established under Section 3 of the National Bank for Agriculture and rural Development Act, 1981 (Central Act No. 61 of 1981)."
(v) after clause (h-1), the following shall be inserted, namely:- "(h-2) 'Primary Agricultural Credit Co-operative Society' means a cooperative society as defined under clause (cciv) of Section 5 of Banking Regulation Act, 1949 (Central Act 10 of 1949) and includes a multipurpose cooperative society.'
(vi) after clause (j-3), the following shall be inserted, namely "(j-4) State Agriculture and Rural Development Bank’ means the Karnataka State Cooperative Agriculture and Rural Development Bank, Limited;
(j-5) 'State Cooperative Bank' means an apex society doing the business of banking."