Diabytes
Banking Regulation Bill News
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The proposed law seeks to enforce banking regulation guidelines of the RBI in cooperative banks, while administrative issues will still be guided by the Registrar of Cooperatives
It is aimed at bringing cooperative banks on par with developments in the banking sector through better management and proper regulation which protects the interest of depositors
The bill assumes significance in the wake of a scam in the PMC Bank affecting lakhs of customers who have been facing difficulty in withdrawing their money due to restrictions imposed by the RBI
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The Rajya Sabha on Thursday passed the Banking Regulation (Amendment) Bill, 2017, which empowers the Reserve Bank of India (RBI) to resolve stressed assets clogging the banking system.
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The Lok Sabha on Thursday passed the Banking Regulation (Amendment) Bill, 2017, which empowers the Reserve Bank of India (RBI) to resolve stressed assets clogging the banking system.
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