27 June, 2020
2 Min Read
Co-operative Banks under RBI
Recently, the Central government approved an ordinance to bring all urban and multi-state co-operative banks under the direct supervision of the RBI (PT). The decision comes after several instances of fraud and serious financial irregularities, including the major scam at the Punjab and Maharashtra Co-operative (PMC) Bank in 2019.
Till now, all the co-operative banks came under dual regulation of the RBI and the Registrar of Co-operative Societies.
Previously, the RBI had no powers to draw up an enforceable scheme of reconstruction of a co-operative bank. However, from now onwards the urban and multi-state co-operative will come under the direct supervision of RBI. The move will empower the RBI to regulate all urban and multi-state co-operative banks on the lines of commercial banks.
48th G7 SUMMIT IN GERMANY The summit was held in BAVARIAN ALPS Germany from June 26th to 28th 2022. PT POINTER G7 48TH Summit was held under the presidency of Germany at BAVARIAN ALPS. Member Countries: US, Canada, France, UK, Germany, Italy, and Japan. BAVARIAN ALPS: It is a collectiv
MISLEADING ADVERTISEMENTS AND ROLE OF ENDORSERS IN ADVERTISING Although a monetary penalty is provided for any misleading advertisement, but there are grey areas that need to be addressed. INDIAN ADS THAT WERE FOUND TO BE MISLEADING Arihant Mattress- Corona-Resistant The Arihant mattress released an advertisement in a Gu
Lancet Study On Road Safety and India’s Road Safety Measures The Lancet study highlights the urgency of implementing a safe system approach that can effectively address road injury death by 2030 and the number of lives that can be saved through intervention in road safety risk factors. The report uses mortality data from the Global Burd
PARTNERS IN THE BLUE PACIFIC US, Australia, New Zealand, Japan, and the United Kingdom have launched the new initiative known as ‘Partners in the Blue Pacific’ for effective and efficient cooperation with the small island nation of the region. It aims to enhance cooperation in the area of the climate crisis, connectivity, transpor
PGII to counter China's Belt and Road Initiative In the recent G7 summit in Germany, the ambitious Partnership for Global Infrastructure and Investment (PGII) was unveiled, with the aim of collective mobilization of $600 billion by 2027 for transparent investment in infrastructure projects in developing and middle-income countries.
Copyright© Aspire IAS Academy. All rights reserved. Powered by CLT Technologies & Edu-Publishers Private Limited.