Business Standard

Letter to BS: Bringing co-operative banks under RBI will be tough

This view gains more prominence in the wake of the apprehensions expressed by some fi­nance industry experts about the efficacy of the RBI's extant supervisory bandwidth

PMC Bank

Business Standard
This refers to the article “Govt okays Ordinance to give more teeth to RBI over co-operative banks” (June 25). The Union Ca­binet’s approval on Wednesday to an Ordinance to bring 1,540 urban and multi-state co-operative banks under the Reserve Bank of India’s direct supervision to provide added protection and comfort to their depositors, may not necessarily prove to be a win-win situation for them. While the genesis of the Centre’s latest move could be traced back to the infamous Punjab and Maharashtra Co-operative Bank crisis, which had created a massive furore last year, the meticulous supervision of all these co-operative

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First Published: Jun 25 2020 | 10:31 PM IST

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