{"id":86458,"date":"2020-02-06T15:36:20","date_gmt":"2020-02-06T10:06:20","guid":{"rendered":"http:\/\/factly.forumias.com\/?p=13527"},"modified":"2020-02-06T15:36:20","modified_gmt":"2020-02-06T10:06:20","slug":"cabinet-clears-amendments-to-ensure-greater-rbi-control-over-cooperative-banks","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/cabinet-clears-amendments-to-ensure-greater-rbi-control-over-cooperative-banks\/","title":{"rendered":"Cabinet Clears Amendments To Ensure Greater RBI Control Over Cooperative Banks"},"content":{"rendered":"\n<p><strong>News:<\/strong>The Union Cabinet has approved amendments to the Banking Regulation Act to give the Reserve Bank of India greater control over cooperative banks.<br><\/p>\n\n\n\n<p><strong>Facts:<\/strong><br><\/p>\n\n\n\n<p><strong>Key provisions of the amendments:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Cooperative banks will be brought under the regulation of the RBI.&nbsp;<\/li><li>The RBI will have the power to supersede and take control of the cooperative banks if the bank\u2019s financial health deteriorates.&nbsp;<\/li><li>Cooperative banks will need RBI permission to appoint a CEO&nbsp;<\/li><li>Cooperative bank audits will have to be done as per RBI guidelines<\/li><\/ul>\n\n\n\n<p><strong>About Co-operative bank:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Co-operative bank is a financial entity which belongs to its members, who are at the same time the owners and the customers of their bank.<\/li><li>Cooperative Banks are registered under the States Cooperative Societies Act.They are also regulated by the Reserve Bank of India (RBI).<\/li><li>They are classified into two categories namely Urban Co-operative Banks(UCBs) and rural co-operative banks.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News:The Union Cabinet has approved amendments to the Banking Regulation Act to give the Reserve Bank of India greater control over cooperative banks. Facts: Key provisions of the amendments: Cooperative banks will be brought under the regulation of the RBI.&nbsp; The RBI will have the power to supersede and take control of the cooperative banks&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/cabinet-clears-amendments-to-ensure-greater-rbi-control-over-cooperative-banks\/\">Continue reading <span class=\"screen-reader-text\">Cabinet Clears Amendments To Ensure Greater RBI Control Over Cooperative Banks<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[3984,394],"class_list":["post-86458","post","type-post","status-publish","format-standard","hentry","category-economy","tag-cooperative-banks","tag-rbi","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704839949},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=86458"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86458\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=86458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=86458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=86458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}