Govt introduces Bill in Lok Sabha for cooperative banks to avoid PMC bank-like crisis

The Banking Regulation (Amendment) Bill, 2020, which comes in the backdrop of PMC Bank scam, seeks to strengthen cooperative banks by increasing professionalism, enabling access to capital, improving governance and ensuring sound banking through the RBI. Introducing the bill, Sitharaman said it is the "need of the hour" to avoid a PMC Bank-like crisis in the future.

from Personal Finance News-Wealth-Economic Times https://ift.tt/2uPV3Dm