Topic: Cooperative Banks
Rajasthan Launches Interest Subvention Scheme for Farmers
The Rajasthan government has introduced a groundbreaking interest subvention scheme. This initiative is designed to support farmers by enhancing their financial accessibility. The scheme provides important interest subsidies...
RBI Unveils 4-tiered Regulatory Framework for Urban Cooperative Banks
A four-tiered regulatory framework for categorization of the Urban Cooperative Banks (UCBs) was recently released by the Reserve Bank of India (RBI). It had also announced norms concerning...
RBI asks large UCBs to set up Board-approved policy, compliance function
The RBI has directed urban cooperative banks (UCBs) belonging to tier 3 and tier 4 categories to create a Board-approved policy and compliance function. Key facts The central...
RBI: Increased housing loan limit for Co-op Banks
On June 8, 2022, The Reserve Bank of India (RBI) has increased the limit two times on housing loans from cooperative banks. Highlights RBI has also permitted the Rural Cooperative...
Merger of DCCBs with StCBs
Reserve Bank of India will consider merger of District Central Co-operative Banks (DCCBs) with State Cooperative Banks (StCBs) if the concerned state government will make any proposal. Highlights...
RBI extends curbs on PMC Bank till 30 June
Reserve Bank of India (RBI) has extended restrictions on withdrawals and deposits in Punjab & Maharashtra Cooperative (PMC) Bank till 30 June, 2021. This decision was taken as...
Why were six PSBs excluded from Schedule II of RBI act recently?
On September 30, 2020, the Reserve Bank of India excluded six public sector banks from the Second Schedule of RBI Act. This was done following their merger with...
RBI releases Cyber Security Vision Framework for Urban Cooperative Banks
On September 25, 2020, the Reserve Bank of India released Cyber Security Vision Framework for Urban Cooperative Banks (UCBs). The apex bank has taken four different guiding principles...
Cooperative Banks brought under RBI
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...
NABARD releases Rs 20,500 crores of funds for Kharif and pre-monsoon operations
On May 18, 2020, the National Bank of Agriculture and Rural Development (NABARD) released Rs 20,500 crores. The funds will act as front-loading resources to the cooperative banks...
Banking Regulation (Amendment) Bill, 2020 introduced in Lok Sabha
The Banking Regulation (Amendment) Bill, 2020 was introduced in the Lok Sabha by Finance Minister Nirmala Sitharaman. This proposed bill is expected to provide more powers to the... 