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 by improving professionalism, access to capital and banking practices through the RBI. The administrative issues will remain to be guided by the Registrar of Cooperative.