Tuesday, 17 May, 2022
TopicCooperative banks

Topic: cooperative banks

What are cooperatives & how a new ministry set up amid Modi govt reshuffle will help

The new Ministry of Cooperation, the govt has said, will provide a separate administrative, legal and policy framework to strengthen the cooperative movement in the country.

Parliament passes bill to bring co-operative banks under RBI supervision

Speaking in the Rajya Sabha, Nirmala Sitharaman said the amendment is to protect depositors' interest and is only for cooperative societies engaged in banking activities.

Lok Sabha passes Bill giving RBI more power over co-op banks, to avoid PMC Bank-like situation

Finance Minister Nirmala Sitharaman said the Bill would protect depositors, but some opposition parties said the legislation would infringe on state powers.

Govt introduces bill in Lok Sabha to bring cooperative banks under RBI supervision

Opposition members opposed the introduction of the Banking Regulation (Amendment) Bill, accusing the Centre of encroaching on the rights of states.

Existence of cooperative banks should be preserved, Sharad Pawar writes to PM Modi

NCP chief Pawar also sought to debunk the notion that cooperative banks are faring worse than other banks, and called them the backbone of India's rural economy.

Why a Modi govt ordinance looks like Operation Kamal to Uddhav’s alliance in Maharashtra

The Reserve Bank’s oversight of the cooperative banks gives the ruling party at the Centre a huge advantage in Maharashtra.

How Modi govt’s ordinance on cooperative banks can prevent PMC-like scams, protect depositors

There have always been questions over who controls cooperative banks in India, states or the Centre. The ordinance empowers RBI to intervene in failing banks.

Over 1500 cooperative banks to be brought under RBI supervision

The govt decision assumes significance amid lakhs of depositors facing problems after a scam in the multi-state Punjab and Maharashtra Cooperative Banks.

On Camera

YourTurn

Congress leader Rahul Gandhi at the party's Nav Sankalp Chintan Shivir in Udaipur, on 15 May 2022 | Twitter/@ANI

Rahul Gandhi must clear his position on Congress leadership. Chintan Shivirs won’t help

If a 137-year-old party is still discussing its foundational ideas and core ideology, and can’t have everyone on board, the road ahead seems rocky.

Bad timing could hamper LIC IPO

Most early public enterprise IPOs have been trading 75% below their original price, small investors concerned.

Defence

Representational image of army personnel in Ladakh | ANI

India ‘doesn’t foresee’ border fighting with China, but ‘won’t back down’ if tensions reignite

Aim is to ensure not just disengagement of troops, but overall de-escalation. Govt in favour of solving tensions through talks as it wants peace with all neighbours including China.

How Congress is like the Ambassador & why Indian politics needs a brand new set of wheels

Like the car, nothing the party has done to reinvent itself has worked. Only way forward is to offer something looking towards the future, not in image of glorious past.
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