Cooperative Banks 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…

NABARD releases Rs 20,500 crores of funds for Kharif and pre-monsoon operations

On May 18, 2020, the National Bank of Agriculture and Rural Development (NABARD) released Rs 20,500 crores. The funds will act as front-loading resources to the cooperative banks and the Regional Rural Development Banks (RRBs). Highlights The funds have been released to help farmers in Kharif operations and also in their pre monsoon preparations. Of Read More…

RBI raises concerns over bad loans from Mudra Yojana

The Reserve Bank of India on November 27, 2019 raised concerns over increasing bad loans from the Pradhan Mantri Mudra Yojana. RBI believes that there is an urgent need to monitor the loans sanctioned under Mudra Yojana. Concerns According to RBI, the percentage of MUDRA loans were at 2.52% in 2017-18, It has now raised Read More…

Union Cabinet approves Interest Subvention on Short-Term Crop Loan to Farmers

The Union cabinet has approved the Interest Subvention Scheme (ISS) for farmers for the year 2017-18. The Government has allocated Rs. 20,339 crore for this scheme. Salient Highlights The objective of the scheme is to make available agricultural credit for Short Term crop loans at an affordable rate. The scheme is expected to boost agricultural productivity and Read More…

R Gandhi committee of RBI recommends conversion of UCBs into regular banks

A Reserve Bank of India (RBI) committee has recommended conversion of Urban Cooperative Banks (UCBs) with business size of 20,000 crore rupees or more into regular banks. This recommendation was given by the High Powered Committee on UCBs headed by RBI Deputy Governor R Gandhi in its report. Recommendations Conversion of UCBs will not be Read More…