The Centre might also seek Cabinet approval for an ordinance that may give the RBI more power over co-operative banks.
The government is likely to discuss changes to the Banking Regulation Act during the Cabinet meeting on June 24, CNBC-TV18 reported.
The changes in the Banking Regulation Act might relate to moratoriums for bank restructuring, the news channel reported.Also read: In 2020, RBI has put 44 co-operative banks under watch. How deep is the rot?
The Centre might also seek Cabinet approval for an ordinance that may give the Reserve Bank of India (RBI) more power over co-operative banks, sources told the channel.
The Cabinet meeting, which began at 11 am, is currently underway.
(This is a developing story. Please check back for updates.)
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First Published on Jun 24, 2020 11:58 am
