Page-2 of Cooperative Banks
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 in order to formulate the framework. This is because the heterogeneity of ..
Month: Current Affairs - September, 2020
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 an ordinance. Highlights There are about 1,482 crores of urban cooperative banks. ..
Month: Current Affairs - June, 2020
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 and the Regional Rural Development Banks (RRBs). Highlights The funds have been ..
Month: Current Affairs - May, 2020
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 RBI for regulating cooperative banks. The bill seeks to strengthen cooperative banks ..
Cabinet clears amendments to bring cooperative banks under RBI regulation
The Union Cabinet of India recently approved amendments to the Banking Regulation Act, which will bring multi-state cooperative banks under the regulation of the Reserve Bank of India. This amendment in regulation is expected to prevent malpractices in the co-operative ..
RBI raises concerns over bad loans from Mudra Yojana
The Reserve Bank of India on November 27, 2019 raised concerns over increasing bad loans from the Pradhan Mantri Mudra Yojana. RBI believes that there is an urgent need to monitor the loans sanctioned under Mudra Yojana. Concerns According to ..