Nirmala Sitharaman To Move The Banking Regulation (Amendment) Bill, 2020 In Lok Sabha
Mumbai: In a recent development, Union Finance Minister Nirmala Sitharaman will put forward the Banking Regulation (Amendment) Bill, 2020 for consideration and passage in Lok Sabha on Thursday.
Earlier this month, the bill was introduced in the Lok Sabha to improve the operation and regulation of cooperative banks, amid uproar in the House on the opposition’s demand for an immediate discussion on the violence in Delhi.
The bill seeks to strengthen co-operative banks so as to prevent the crisis faced by PMC Bank due to financial irregularities which caused the depositors trouble.
It strives to strengthen co-operative banks through the Reserve Bank of India by increasing professionalism, enabling access to capital, improving governance and “ensuring sound banking”.
It strives to strengthen co-operative banks through the Reserve Bank of India by increasing professionalism, enabling access to capital, improving governance and “ensuring sound banking”.
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