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FM Sitharaman introduces bill that aims to prevent a PMC Bank-like crisis

The Banking Regulation (Amendment) Bill, 2020, which comes in the backdrop of PMC Bank scam, seeks to strengthen co-operative banks by increasing professionalism and ensuring sound banking through RBI

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Nirmala Sitharaman | Reserve Bank of India RBI | PMC Bank

Press Trust of India 

Union Finance Minister Nirmala Sitharaman
The Bill was introduced in the Lok Sabha amid the din, with Sitharaman saying if the opposition wants to deny the small depositors their rights then “it is a shame”.

A Bill to provide more powers to the Reserve Bank of India (RBI) for regulating co-operative banks was introduced by Finance Minister in the Lok Sabha on Tuesday.

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First Published: Wed, March 04 2020. 01:55 IST
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