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RBI Faces Pushback On Attempt To Modernise Urban Cooperative Banks
Even before an RBI committee on cooperative banks submits its report, it is facing pushback from an RBI central board member.
06 Jul 2021, 08:32 AM IST
The Reserve Bank of India's attempt to modernise urban cooperative banks is facing opposition, with a member of the regulator's central board raising concerns over certain changes being considered.Since the collapse of Punjab and Maharashtra Cooperative Bank, the RBI has gained greater supervisory and regulatory powers over urban cooperative banks, tightened norms for appointment of top management and boards at these lenders, and put...
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