Banking Regulation Bill Current Affairs - 2020

Facts Box: Banking Regulation (Amendment) Bill, 2020

On September 16, 2020, Lok Sabha passed the Banking Regulation (Amendment) bill, 2020. The bill aims to bring cooperative banks under the supervision of Reserve Bank of India. Highlights The bill replaced the Banking Regulation (Amendment) Ordinance, 2020. The ordinance was promulgated in June 2020. It amends the Banking Regulation Act, 1949. It will regulate Read More…

RBI’s power extension to restructure Cooperative banks through the New Banking Regulation (Amendment) Bill, 2020: Important notes

The government introduced the new Banking Regulation (Amendment) Bill, 2020, that intended to give the powers to restructure cooperative banks to the Reserve Bank of India. The power of RBI’s banking regulations will be extended to the cooperative banks after the ratification of the bill. What is Banking regulation? Banking regulation is a type of Read More…

Cabinet Approves Ordinance to bring UCBs and MSCBs under RBI supervision

The decision to bring Urban Cooperative Banks (UCBs) and Multi-State Cooperative Banks (MSCBs) under the supervision of India’s Central Bank- the Reserve Bank of India (RBI) was taken on 24th June 2020 during a meeting of the Union Cabinet. The ordinance will immediately come into effect from the date of signature of the President of Read More…

Parliament passes Banking Regulation (Amendment) Bill, 2017

Parliament has passed the Banking Regulation (Amendment) Bill, 2017 with the Rajya Sabha approving it. The Lok Sabha has already passed it. The bill will replace the Banking Regulation (Amendment) Ordinance, 2017 promulgated by President in May 2017. The bill seeks to amend the Banking Regulation Act, 1949 to insert provisions for handling cases related Read More…

Lok Sabha passes Banking Regulation (Amendment) Bill, 2017

The Lok Sabha has passed the Banking Regulation (Amendment) Bill, 2017 by voice vote. It will replace the Banking Regulation (Amendment) Ordinance, 2017. The bill seeks to amend the Banking Regulation Act, 1949 to insert provisions for handling cases related to stressed assets or non-performing assets (NPAs) of banks. Stressed assets (NPAs) are loans defaulted Read More…