India Banking regulation act 1949 Current Affairs - 2020

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…

Key Facts: Why RBI has abruptly placed restrictions on PMC Bank?

The Reserve Bank of India has imposed caps on withdrawals made by customers of Punjab and Maharashtra Cooperative Banks for 6 months. The imposition was invoked by the central bank under Section 35 A of India’s Banking Regulation act, 1949. PMC is spread across 6 states and has a network of 137 branches. What are Read More…