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1482 #UrbanCooperativeBanks&58 multi State Co-op Banks,to come under #RBI control now💪
#PMCBank crisis was partly due to multi-tier regulation,as seen below
Direct Supervision by RBI is a bold move-@narendramodi govt buries yet another jaded,#NehruvianRelic that fed corruption
#PMCBank crisis was partly due to multi-tier regulation,as seen below
Direct Supervision by RBI is a bold move-@narendramodi govt buries yet another jaded,#NehruvianRelic that fed corruption
Cooperative banks came partially under RBI in 1966 but faced problem of multiple regulation
Registrar of Cooperative Societies(RCS)is in control of management elections& administrative issues
Today's #CabinetApproval to bring #CooperativeBanks under #RBI is,therefore historic💪
Registrar of Cooperative Societies(RCS)is in control of management elections& administrative issues
Today's #CabinetApproval to bring #CooperativeBanks under #RBI is,therefore historic💪
Despite changes in 1966,in spirit,most #CooperativeBanks, operated as per Cooperative SocietiesAct,1955
#BankNationalisation in 1969,by #IndiraGandhi,compounded the banking-bureaucracy-politico,nexus
It took a @narendramodi,to finally rid #CooperativeBanks,from greedy #Babudom
#BankNationalisation in 1969,by #IndiraGandhi,compounded the banking-bureaucracy-politico,nexus
It took a @narendramodi,to finally rid #CooperativeBanks,from greedy #Babudom
