FILE PHOTO: CCTV cameras are seen installed above the logo of Reserve Bank of India (RBI) inside its headquarters in Mumbai, India, February 7, 2019. REUTERS/Francis Mascarenhas/File Photo
Government of India will bring an ordinance to put all cooperative banks under the Reserve Bank of India supervision. This decision was announced by Union information and broadcasting minister Prakash Javadekar.
Now 1,482 urban cooperative banks and 58 multi-state cooperative banks came under the supervisory powers of the Reserve Bank of India. The RBI’s powers as they apply to the scheduled banks will also apply to cooperative banks. This decision will give an assurance to more than 86 million depositors in these banks that their money amounting to Rs 4.84 trillion will stay safe.
Important takeaways for all competitive exams:
Mangrol, the third ASW-SWC, which has more than 80% indigenous content, was handed over to…
India has come up with its first-ever Soil Texture Map by the National Bureau of…
President Droupadi Murmu will present the National Teachers’ Awards 2026 on 5 September 2026 (Teachers'…
Mobile Phone Manufacturing Scheme (MPMS) of INR 62,500 Crore has been announced by the Centre…
Sophie Adenot is a French engineer, helicopter test pilot, military officer and European Space Agency…
The technology for the development of Submarine-Fired Decoy (SFD) has been handed over to Bharat…