Banking Regulation (Amendment) Bill, 2020 | General Studies | UPSC | Latest | Economics

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Cooperative banks are currently under the dual control of the Registrar of Cooperative Societies and RBI. While the role of registrar of cooperative societies includes incorporation, registration, management, audit, supersession of board and liquidation, RBI is responsible for regulatory functions such as maintaining cash reserve and capital adequacy, among others.

It will help the central bank to develop a scheme to ensure the interest of the public, banking system, account holders in the bank and banking company’s proper management, without disrupting any banking functionalities.
The amendments also allow cooperative banks to raise money via public issues and private placements of equity or preference shares as well as unsecured debentures, with the central’s bank’s nod.
Changes will not affect the existing powers of the state registrars of co-operative societies under state laws & will not apply to Primary Agricultural Credit Societies (PACS) or co-operative societies whose primary object and principal business is long-term finance for agricultural development, and which do not use the words “bank”, “banker” or “banking”.
Amendments to the Banking Regulation Act, 1949
Bring cooperative banks under RBI
Better Governance & Sound Banking Regulations
Scheme of amalgamation of bank without placing it under moratorium

Chapters:
0:00 Banking Regulation (Amendment) Bill, 2020
0:04 Why Required to Bring Cooperatives?
1:36 Highlights
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