Cooperative banking Current Affairs, GK & News
On June 24, 2020, the Union Cabinet chaired by PM Modi approved to bring cooperative banks under the Reserve Bank of India. This is to be done through an ordinance. Highlights There are about 1,482 crores of urban cooperative banks. Apart from these, India also holds 58 multi-state cooperative banks. These banks together support 8.6 ..
Month: Current Affairs - June, 2020
Category: Economy & Banking Current Affairs
According to the Reserve Bank of India (RBI) notification, the single borrower and group exposure limit for Urban cooperative banks (UCBs) to 15% and 25% of tier I capital, respectively. This reduction in limit is to mitigate concentration risks arising out of large loans. Existing norms allowed 15% for single borrowers and 40% to group ..
The union government has allowed National Bank for Agriculture and Rural Development (NABARD) to disburse Rs 21,000 crore to cash-starved farmers ahead of the sowing season to sow rabi crops like Wheat. NABARD will disburse the money to District Central Cooperative Banks (DCCBs) which will pass it on to the farm cooperatives for meeting crop loan ..
RBI set up a panel to find ways to strengthen the rural cooperative credit structure. The 7 member Committee headed by NABARD Chairman Prakash Bakshi will; · Review the prevailing Short Term Cooperative Credit Structure (STCCS), focusing on structural hindrances in rural credit delivery system. · Discover ways to strengthen the rural cooperative credit architecture. ..
Farmers in Maharashtra who are yet to obtain loans from cooperative banks can now expect them from commercial banks. The state govt will soon take measures to assist Regional Rural Banks (RRBs) utilize the infrastructure of primary agriculture cooperative societies, which would distribute crop loans from commercial banks.To ensure availability of crop loans from commercial ..
Month: Current Affairs - June, 2012
Topics: Agricultural cooperative • Bank • Cooperative • Cooperative banking • Economy • Financial services • Loan waiver • National Bank for Agriculture and Rural Development • Organizations • Regional Rural Bank