RBI won't let any cooperative bank collapse, banking sector stable: Das

Since the Punjab National Bank scam came to light in February 2018, the banking sector has been hit with two other major crises - IL&FS and DHFL crisis

Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday tried to assuage fears about the banking sector, reeling from one crisis after another, by claiming that it was sound and stable. Referring to the crisis at the Punjab and Maharashtra Cooperative (PMC) Bank, he said: “The RBI will not allow any cooperative bank to collapse.”

Since the Punjab National Bank scam came to light in February 2018, the banking sector has been hit two other major crises — the defaults of the Infrastructure Leasing & Financial Services and the Dewan Housing Finance Corporation. Now, the crisis at the Punjab