The Kisan Credit Card (KCC) scheme was introduced in 1998. 145. With reference to 'Urban Cooperative Banks' in India, consider the following statements: They are supervised and regulated by local boards set up by the State Governments. They can issue equity shares and preference shares. They were brought under the purview of the Banking Regulation Act, 1949 through an Amendment in 1966. Which of the statements given above is/are correct?

- Urban Cooperative Banks (UCBs) are regulated and supervised by both the Reserve Bank of India (RBI) (for banking functions) and the Registrar of Co-operative Societies (RCS) of the concerned State (or Central RCS if multi-state) (for registration and management). They are not solely supervised and regulated by local boards set up by State Governments. Statement 1 is incorrect. - UCBs are permitted to raise capital through various means, including the issue of equity shares to their members and other forms of capital instruments akin to preference shares or long-term deposits with equity features, as per regulations issued by RBI and the Registrar. Recent amendments to the Banking Regulation Act have enhanced their ability to raise capital. Statement 2 is correct. - Certain provisions of the Banking Regulation Act, 1949, were extended to cooperative banks, including UCBs, through the Banking Laws (Application to Co-operative Societies) Act, 1965, which came into effect on March 1, 1966. This brought their banking operations under the purview of the RBI. Statement 3 is correct.