02 March, 2020
2 Min Read
Syllabus subtopic: Government Policies and Interventions for Development in various sectors and Issues arising out of their Design and Implementation.
Prelims and Mains focus: about the amendment and its significance; about steps taken in banking sector
News: The Parliament is likely to clear a Bill to amend Banking Regulation Act during the second leg of Budget session. The session ends on April 3.
Cooperative Banks in India
There are 1,540 co-operative banks with a depositor base of 86 million having total savings of about Rs.5 lakh crore.
Objective of the amendment
Steps taken by the government in banking sector
In the last couple of years, the Department of Financial Services has taken several steps to promote responsive and responsible banking.
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