President promulgates ordinance to bring co-operative banks under RBI supervision

​​ The Ordinance amends the Banking Regulation Act, 1949 as applicable to cooperative banks, an official statement said on Saturday. The amendments do not affect existing powers of the State Registrars of Co-operative Societies under state co-operative laws, it added.

from Personal Finance News-Wealth-Economic Times https://ift.tt/2YBU71n