In order to ensure the safety of depositors across banks, the Govt. has promulgated the Banking Regulation (Amendment) Ordinance, 2020. The Ordinance amends the Banking Regulation Act, 1949 as applicable to Cooperative Banks. It seeks to protect the interests of depositors and strengthen cooperative banks by improving governance and oversight by extending powers already available with RBI in respect of other banks to Co-operative Banks as well for sound banking regulation, and by ensuring profes
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