Over 1,500 Cooperative Banks To Be Brought Under RBI's Supervision

The government on Wednesday announced that all cooperative and multi-state cooperative banks will be brought under the supervision of Reserve Bank of India (RBI). The move which will be effective on 1,540 such banks, is aimed at providing comfort to their depositors, Union Minister Prakash Javadekar said in a press briefing, following a Cabinet meeting. The decision comes months after a scam hit the Punjab and Maharashtra Cooperative...