The bill, which comes in the backdrop of the PMC Bank scam, seeks to strengthen cooperative banks by increasing their professionalism, enabling access to capital, improving governance and ensuring sound banking through the RBI.
The central bank alleged that the accused willfully and deliberately gave false information in their compliance report and the PNB's core banking system was not integrated with the applications and there was no online integration of SWIFT with the RBI's Core Banking Solution.
Mumbai: Finance Minister P Chidambaram today pitched for limiting the Reserve Bank's mandate to monetary policy formulation and banking regulation, and for delegating its other functions to government or other regulators. "It (RBI) is the
Top News
Latest News
