Govt. banks, including 1,482 urban cooperative banks and 58 multi-state cooperative banks, are now being brought under the supervisory powers of @RBI; RBI's powers as they apply to scheduled banks will apply for cooperative banks as well
— PIB in Maharashtra ???? (@PIBMumbai) June 24, 2020
- @PrakashJavdekar #CabinetDecisions pic.twitter.com/qeF8kCa045
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
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Again this is just a suggestion that cannot solve the real issue. Am I sounding pessimistic? Whether government banks or private ones, till such time we have men of integrity at the micro level (read branches) problem remains unsolved. At private banks managers accountability is well established. But in cooperative banks and public sector white elephants, accountability is merely on paper. In very few cases culprits have been booked compared to the huge number of NPA accounts. Certain portion of NPAs are no doubt genuine business losses. But others are frauds and wilful defaults. Finally, don't you think it is difficult to oust politicians in cooperative banks boards most of them are relatives and friends of MLAs and MPs? Madam FM, again you are peddling a wrong path. God save all our banks?
BJP is destroying the federal nature of Indian union. Anyone who says RBI is independent is native.